<SEC-DOCUMENT>0000842180-21-000008.txt : 20210226
<SEC-HEADER>0000842180-21-000008.hdr.sgml : 20210226
<ACCEPTANCE-DATETIME>20210226124430
ACCESSION NUMBER:		0000842180-21-000008
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		332
CONFORMED PERIOD OF REPORT:	20201231
FILED AS OF DATE:		20210226
DATE AS OF CHANGE:		20210226

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:		21686248

	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>d20f2020.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:16.05pt;margin-right:0cm;margin-top:9.0pt;padding:0cm;text-align:center;text-indent:-16.05pt;"><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 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, 2020</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>



<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_2"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; 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;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>
<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><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><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;">0.875%
  Fixed Rate Senior Notes due 2023</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</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> 23</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="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;">1.125% Fixed
  Rate Senior Notes due 2025</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</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> 25</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>
  <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>
 </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=49% 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=5% 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=41% 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=49% 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=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=41% 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=49% 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=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=41% 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, 2020, 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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Indicate by check mark whether the
registrant has filed a report on and attestation to its management&#8217;s assessment
of the effectiveness of its internal control over financial reporting under
Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered
public accounting firm that prepared or issued its audit report.</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">[</font></font><font style="border:none;"><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;">]</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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<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=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;">PAGE</font></b></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;">&nbsp;</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_12"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">7</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_12"><u><font color=blue face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Director and Senior
  Management</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">7</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_12"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">7</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_12"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">7</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_12"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">7</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_12"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">7</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_12"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">7</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_14"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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;">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_15"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">10</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_15"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">10</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_31"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">26</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_31"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">26</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_34"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">29</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_68"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">6</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">3</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_69"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">6</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">4</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_69"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">6</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">4</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_92"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">87</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_96"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">91</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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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_98"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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;">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_102"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">97</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_167"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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;">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_169"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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;">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_169"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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;">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_170"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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;">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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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_180"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">175</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_190"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">185</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_202"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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_205"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">200</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" 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_206"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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;">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_206"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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;">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_206"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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;">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_207"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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;">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_207"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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;">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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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_208"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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;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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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_215"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">210</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" 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_215"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">210</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" 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_215"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">210</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" 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_215"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">210</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" 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_215"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">210</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>

<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_5"></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>
<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=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;">PAGE</font></b></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_215"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">210</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" 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_215"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">210</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" 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_215"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">210</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" 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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;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>
  </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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><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=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;">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 align=center style="margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;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>
  </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=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;">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>
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  <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;">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=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;">231</font></font></p>
  </td>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&nbsp;</font></p>



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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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;">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, 2020, 2019 and 2018, 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 4/2017 (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 align=center style="border:none;margin:0cm;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%;">1</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;">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-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;">the impact of the
coronavirus (COVID-19) pandemic and the measures adopted by governments and the
private sector in connection therewith on our business and the economy,
including any adverse developments, or the perception that such developments
may occur, regarding credit quality, public debt sustainability and sovereign
ratings, particularly Spain&#8217;s, among other factors;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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-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;">our ability to complete the
sale of BBVA USA as planned (see &#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;Sale of BBVA USA to The PNC Financial Services Group</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).
Completion of the transaction is dependent on the satisfaction of certain
closing conditions, which cannot be assured;</font></font></p>

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

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

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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-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;">the political, economic and
regulatory impacts related to the United Kingdom&#8217;s withdrawal from the EU; </font></font></p>

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

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-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;">the effects of competition
in the markets in which we operate, which may be influenced by regulation or
deregulation affecting us or 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-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;">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-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;">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 on the distribution or repatriation of dividends,
international ownership legislation, interest rate caps and tax policies;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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:35.7pt;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;">our ability to continue to
access sources of liquidity and funding, including public sources of liquidity
such as the funding provided by 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;">European Central Bank (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ECB</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) through the extraordinary
measures adopted in connection with the COVID-19 pandemic</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, and our ability 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-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;">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-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;">downgrades in our credit
ratings or in sovereign credit ratings, particularly 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-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;">the success of our
acquisitions, divestitures, mergers, joint ventures and strategic alliances;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-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;">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-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;">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-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;">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-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;">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-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;">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-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;">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-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;">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-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;">uncertainty surrounding the
integrity and continued existence of reference rates and the transition away
from the Euro Interbank Offered Rate (EURIBOR), Euro OverNight Index Average
(EONIA) and London Inter-bank Offered Rate (LIBOR) to new reference rates;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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-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;"><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 style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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 4/2017 and IFRS-IASB
for the years ended December 31, 2020, 2019 and 2018. 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 4/2017.</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, 2019 and 2018 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
and adjustments referred to 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;"><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: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;">IFRS 16 &#8211;Leases &#8211; COVID-19 modifications</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 May 28, 2020, the
IASB approved an amendment to IFRS 16 which provides an optional exemption for
lessees from assessing whether rent concessions that occur due to COVID-19
(including payment holidays and deferrals of lease payments for a period of
time, in each case in connection with payments due on or before June 30, 2020)
are lease modifications. For additional information, see Note 2.3 to the
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;">This amendment is
effective from June 1, 2020 and has been endorsed by the European Union. The
amendment, which has been applied by the Group, has had no significant impact
on the Consolidated Financial Statements of the Group. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IAS 12 &#8211; &#8220;Income Taxes&#8221;
Amendment</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 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 information for prior
years comparable with the financial information for 2019, the financial
information for 2018 was restated retrospectively in this regard. The
application of the amended standard resulted in an increase by &#8364;76 million in
our &#8220;Profit attributable to parent company&#8221; for 2018 (an increase of 1.4% in
the &#8220;Profit attributable to parent company&#8221; for 2018). The new standard had no
significant impact on our 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;"><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:0cm;margin-bottom:.0001pt;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;">Considering the interpretation
issued by the International Financial Reporting Interpretations Committee (</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;IFRIC&#8221;</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)
in its &#8220;IFRIC Update&#8221; of March 2020 on IAS 29 &#8220;Financial information in
hyperinflationary economies&#8221;, the Group made an accounting policy change which
involves recording the differences generated when translating the restated
financial statements of the subsidiaries in hyperinflationary economies into
euros in the line item &#8220;Accumulated other comprehensive income &#8211; Items that may
be reclassified to profit or loss &#8211; Foreign currency translation&#8221; of our
consolidated balance sheet. In order to make the information as of December 31,
2019 and 2018 comparable with information as of December 31, 2020, the
information as of </font></font><!-- Do not modify beyond this point! !--><a name=bcl_connect_next></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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><a name=bcl_connect_prev></a><!-- Do not modify before this point! !--><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">December 31, 2019 and 2018 has been
restated by reclassifying &#8364;2,985 million and &#8364;2,987 million, respectively,</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> &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;">from &#8220;Shareholders&#8217; funds &#8211; Retained earnings&#8221;
and &#8364;6 million and &#8364;20 million, respectively, from &#8220;Shareholders&#8217; funds &#8211; Other
reserves&#8221; to &#8220;Accumulated other comprehensive income &#8211; Items that may be
reclassified to profit or loss &#8211; Foreign currency translation&#8221; and &#8220;Accumulated
other comprehensive income (loss) &#8211; Items that may be reclassified to profit or
loss &#8211; Share of other recognized income and expense of investments in joint
ventures and associates&#8221; as of December 31, 2019 and 2018, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
reclassification has been recorded as &#8220;Effect of changes in accounting
policies&#8221; under the balance as of January 1, 2020 and 2019 in the consolidated
statement of changes in equity for the years ended December 31, 2019 and 2018.</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=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IFRS 9 &#8211; Collection of interest on
impaired financial assets</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;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 consequence of the application
of the interpretation issued by the IFRIC in its &#8220;IFRIC Update&#8221; of March 2019
regarding the collection of interest on impaired financial assets under IFRS 9,
such collections are presented since 2020 as reductions in credit-related
write-offs whereas previously they were included as interest income. In order
to make the information for the years ended December 31, 2019 and 2018
comparable with the information for the year ended December 31, 2020, the
consolidated income statement for the year ended December 31, 2019 has been
restated by recognizing a &#8364;78 million reduction in the heading &#8220;Interest and
other income&#8221; and a &#8364;78 million increase in the heading &#8220;Impairment or reversal
of impairment on financial assets not measured at fair value through profit or
loss or net gains by modification&#8221; (&#8364;80 million reduction in the heading
&#8220;Interest and other income&#8221; and a &#8364;80 million increase in the heading
&#8220;Impairment or reversal of impairment on financial assets not measured at fair
value through profit or loss or net gains by modification&#8221; for the year ended
December 31, 2018). This reclassification has had no impact on the profit for the
years ended December 31, 2019 and 2018 or on the consolidated total equity as
of December 31, 2019 and 2018.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Trading derivatives recognition</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Information as of December 31, 2020
has been subject to certain balance sheet presentation modifications related to
non-significant cross currency swap transactions. In order to make the
information as of December 31, 2019 and 2018 comparable with the information as
of December 31, 2020, figures as of December 31, 2019 and 2018 have been
restated by recognizing a &#8364;953 million and a &#8364;1,013 million reduction in &#8220;Total
assets&#8221; and &#8220;Total liabilities&#8221;, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">&nbsp;</font></font><a name="page_7"></a><a name="page_7_bclEnd"></a><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;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Intra-group reallocations</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Following the publication of our
consolidated financial statements as of and for the year ended December 31,
2019, 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 were 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, 2019 and 2018 comparable with the information
as of and for the year ended December 31, 2020, segmental balances as of and
for the years ended December 31, 2019 and 2018 have been revised in conformity
with these intra-group reallocations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Agreement for the sale of BBVA USA Bancshares,
Inc. </font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On November 15, 2020, BBVA reached
an agreement with The PNC Financial Services Group, Inc. for the sale of 100%
of the share capital in its subsidiary BBVA USA Bancshares, Inc., which in turn
owns 100% of the share capital in BBVA USA, as well as other companies of the
BBVA Group in the United States with activities related to this banking
business, for approximately $11.6 billion (&#8364;9.7 billion), to be paid in cash</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. As a result, the assets and
liabilities of these companies were reclassified to &#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
as of December 31, 2020, respectively. In addition, the profit (loss) of these
companies was recognized under &#8220;Profit / (loss) from discontinued operations,
net&#8221; in the consolidated income statement for the year ended December 31, 2020.
In accordance with IFRS 5, for comparative purposes the profit (loss) of these
companies for the years ended December 31, 2019 and 2018 was also reclassified
under the heading &#8220;Profit / (loss) from discontinued operations, net&#8221;. In
addition, in accordance with IFRS 5, and following IFRS 8 &#8220;Information by
business segments&#8221;, information on the United States reportable segment in
which the non-current asset (disposal group) is recognized, is provided for the
years ended December 31, 2020, 2019 and 2018.</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For additional
information, see Note 21 to our Consolidated Financial Statements. </font></font></p>


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


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

<p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Segment information included in </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 4. Information on the Company&#8212;Business
Overview</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; and &#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;Operating Results&#8212;Results of Operations by Operating Segment</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> is being presented under management criteria, pursuant to
which the assets, liabilities and profit (loss) of the aforementioned companies
held for sale are included in every line item of the balance sheet and income
statement of the United States segment (rather than in a single item)</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:10.0pt;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>

<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>

<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 &#8220;</font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4.
Information on the Company</font></i></font><font style="border:none;"><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;">Selected
Statistical Information</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; for information on how the information for BBVA
USA has been treated for purposes of calculating the selected financial
information contained herein.</font></font></p>

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


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


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<p style="border:none;margin-bottom:12.0pt;margin-left: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>

<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;">A. Selected Consolidated
Financial Data</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent: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, 2020, 2019 and 2018 has been selected
from, and should be read together with, the Consolidated Financial Statements
included herein. For information concerning the preparation and presentation of
such financial information, see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation of Financial Information</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.
&nbsp;</font></font></p>


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<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=53% 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=3 nowrap valign=bottom width=47% 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=53% 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=14% 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;">2020</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;">2019</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;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=53% 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=3 nowrap valign=bottom width=47% 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=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;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=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% 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=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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" lang=EN-US style="font-size:8.0pt;">22,389</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">27,762</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">26,954</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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" lang=EN-US style="font-size:8.0pt;">(7,797)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(11,972)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(11,669)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">14,592</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">15,789</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">15,285</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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" lang=EN-US style="font-size:8.0pt;">5,980</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,786</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,462</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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" lang=EN-US style="font-size:8.0pt;">(1,857)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,284)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,059)</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 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=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" lang=EN-US style="font-size:8.0pt;">1,187</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">705</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,136</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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" lang=EN-US style="font-size:8.0pt;">492</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">639</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">929</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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" lang=EN-US style="font-size:8.0pt;">(1,662)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,943)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,021)</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 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=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" lang=EN-US style="font-size:8.0pt;">2,497</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2,890</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2,949</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 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=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" lang=EN-US style="font-size:8.0pt;">(1,520)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,751)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,894)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">20,166</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">21,522</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">20,936</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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" lang=EN-US style="font-size:8.0pt;">(7,799)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(8,769)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(9,020)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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" lang=EN-US style="font-size:8.0pt;">(1,288)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,386)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,034)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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" lang=EN-US style="font-size:8.0pt;">(746)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(614)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(395)</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=53% style="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;"><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=14% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(5,179)</font></font></p>
  </td>
 <td nowrap width=15% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3,552)</font></font></p>
  </td>
 <td nowrap width=18% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3,681)</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 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=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">5,153</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">7,202</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,807</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=53% 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:8.0pt;">Impairment or reversal of impairment of
  investments in joint ventures and associates</font></font></p>
  </td>
 <td nowrap width=14% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(190)</font></font></p>
  </td>
 <td nowrap width=15% 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 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=18% 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 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=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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=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" lang=EN-US style="font-size:8.0pt;">(153)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(128)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(137)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=53% 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:8.0pt;">Gains (losses) on derecognition of
  non-financial assets and subsidiaries, net</font></font></p>
  </td>
 <td nowrap width=14% 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 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=15% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=18% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">80</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 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=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" lang=EN-US style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=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:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=53% 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:8.0pt;">Gains (losses) from non-current assets and
  disposal groups classified as held for sale not qualifying as discontinued
  operations</font></font></p>
  </td>
 <td nowrap width=14% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">444</font></font></p>
  </td>
 <td nowrap width=15% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">23</font></font></p>
  </td>
 <td nowrap width=18% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">815</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Operating profit / (loss) before tax</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">5,248</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">7,046</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">7,565</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=53% 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:8.0pt;">Tax (expense) or income related to profit or
  loss from continuing operations</font></font></p>
  </td>
 <td nowrap width=14% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,459)</font></font></p>
  </td>
 <td nowrap width=15% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,943)</font></font></p>
  </td>
 <td nowrap width=18% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,042)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Profit / (loss) from continuing operations</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3,789</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">5,103</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">5,523</font></b></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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Profit / (loss) from discontinued operations,
  net </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,729)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(758)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">704</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2,060</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><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=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,227</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Profit / (loss) attributable to parent company</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,305</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3,512</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">5,400</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 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=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" lang=EN-US style="font-size:8.0pt;">756</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">833</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">827</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=15% 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=18% 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=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Earnings per share (In Euros)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.14 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.47</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.75</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Diluted earnings (losses) per share from
  continuing operations (3)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.40 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.58</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.64</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Basic earnings (losses) per share from
  continuing operations</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.40 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.58</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.64</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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" lang=EN-US style="font-size:8.0pt;">0.160 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.260 </font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.250</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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" lang=EN-US style="font-size:8.0pt;">0.196 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.292 </font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.286</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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=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" lang=EN-US style="font-size:8.0pt;">6,667,886,580 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,667,886,580 </font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,667,886,580 </font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;"><font style="border:none;"><font face=Calibri,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">&nbsp;</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;">(1)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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;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)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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:.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;">(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 issued upon the conversion of convertible instruments,
excluding the weighted average number of treasury shares during the year (6,655
million, 6,648 million and 6,636 million shares for the years ended December
31, 2020, 2019 and 2018, respectively).</font></font></p>

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

<p style="border:none;margin-bottom:10.0pt;margin-left:18.0pt;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:8.0pt;">&nbsp;</font></font></p>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">8</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_14"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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=58% 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=3 nowrap valign=bottom width=42% 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=58% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><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=14% 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;">2020</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% 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>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=58% 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 valign=bottom width=42% 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=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><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=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><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=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 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=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Total assets </font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">736,176 </font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">697,737 </font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">675,675 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=14% 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;">3,267 </font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">3,267 </font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">3,267 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=top width=14% 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;">367,668 </font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">439,162 </font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">419,660 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=14% 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;">342,661 </font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">384,219 </font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">375,970 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=14% 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;">66,311 </font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">68,619 </font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">63,970 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=14% 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;">5,471 </font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">6,201 </font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">5,764 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 (net assets)</font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">50,020 </font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">54,925 </font></font></p>
  </td>
 <td nowrap valign=top width=14% 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;">52,874 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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=14% style="background:white;height: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=14% style="background:white;height: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=14% style="background:white;height: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=58% 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;">Net interest margin (1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.30%</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=14% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.58%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=58% 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;">Return on average total assets (2)</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 valign=bottom width=14% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.8%</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=58% 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;">Return on average shareholders&#8217; funds (3)</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6.9%</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">9.9%</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">11.7%</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=top width=58% 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;">Equity to assets ratio (4)</font></font></p>
  </td>
 <td nowrap valign=top width=14% 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 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>
 <td nowrap valign=top width=14% 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 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=top width=14% 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 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 nowrap valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><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=14% style="background:white;height: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=14% style="background:white;height: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=14% style="background:white;height: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=58% 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=14% style="background:white;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,141 </font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=14% style="background:white;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:25.5pt;">
  <td valign=top width=58% 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 </font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">3.30%</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">2.83%</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">2.91%</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=top width=58% 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) (7)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4.11%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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 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=14% 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 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>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=top width=58% 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;">Impaired loans and advances to customers</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">14,672 </font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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 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=14% 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 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>
 </tr>
<tr style="height:18.75pt;">
  <td nowrap valign=top width=58% style="height:18.75pt;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=14% style="background:white;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;">767 </font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;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;">731 </font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;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;">740 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=58% 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 width=14% style="background:white;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;">15,439 </font></font></p>
  </td>
 <td nowrap width=14% style="background:white;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;">16,685 </font></font></p>
  </td>
 <td nowrap width=14% style="background:white;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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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=14% style="background:white;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">323,252</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=14% style="background:white;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Loan commitments and guarantees to customers</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">52,204 </font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=14% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=58% 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=14% style="background:white;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;">375,456 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;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;">440,715 </font></font></p>
  </td>
 <td nowrap width=14% style="background:white;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>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:0cm;"><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: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;">&nbsp;</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:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)&#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;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 profit as a percentage of average total assets. In order to
calculate &#8220;Return on average total assets&#8221; for the year ended December 31,
2020, the net capital gain from the bancassurance transaction with Allianz
(&#8364;304 million) and the goodwill impairment in the United States cash-generating
unit (CGU) (&#8364;2,084 million) have been excluded from profit. In order to
calculate &#8220;Return on average total assets&#8221; for the year ended December 31,
2019, the goodwill impairment in the United States CGU (&#8364;1,318 million) has
been excluded from profit. If such exclusions had not been made, &#8220;Return on
average total assets&#8221; for the years ended December 31, 2020 and 2019 amounted
to 0.3% and 0.6%, respectively. For additional information on the bancassurance
transaction with Allianz, see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Item 4. Information on the Company&#8212;History
and Development of the Company&#8212;Capital Divestitures&#8212;2020&#8212;Agreement for the
alliance with Allianz, Compa&#241;&#237;a de Seguros y Reaseguros, S.A.</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8221;. For
additional information on the goodwill impairment in the United States CGU, 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;Goodwill in consolidation</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:.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;">(3)&#160;
Represents profit for the year as a percentage of average shareholders&#8217; funds
for the year. In order to calculate &#8220;Return on average shareholders&#8217; funds&#8221; for
the year ended December 31, 2020, the net capital gain from the bancassurance
transaction with Allianz (&#8364;304 million) and the goodwill impairment in the
United States CGU (&#8364;2,084 million) have been excluded from profit. In order to
calculate &#8220;Return on average shareholders&#8217; funds&#8221; for the year ended December
31, 2019, the goodwill impairment in the United States CGU (&#8364;1,318 million) has
been excluded from profit. If such exclusions had not been made, &#8220;Return on
average shareholders&#8217; funds&#8221; for the years ended December 31, 2020 and 2019
amounted to 2.9% and 7.2%, 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;">(4)&#160; </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Represents average total equity (net assets) over average
total assets.</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 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;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;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 be higher for the periods
covered, amounting to 3.91%, 3.62% and 3.77% as of December 31, 2020, 2019 and
2018, 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>

<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;">&nbsp;</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;">&nbsp;</h2>
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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">9</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: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: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;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;">MACROECONOMIC RISKS
AND COVID-19 CONSEQUENCES</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The COVID-19 pandemic
is adversely affecting the Group</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 COVID-19
(coronavirus) pandemic has affected, and is expected to continue to adversely
affect, the world economy and economic activity and conditions in the countries
in which the Group operates, leading many of them to economic recession. Among
other challenges, these countries are experiencing widespread increases in
unemployment levels and falls in production, while public debt has increased
significantly due to support and spending measures implemented by government
authorities. In addition, there has been an increase in debt defaults by both
companies and individuals, volatility in the financial markets, volatility in
exchange rates and falls in the value of assets and investments, all of which
have adversely affected the Group&#8217;s results in 2020 and are expected to
continue affecting the Group&#8217;s results in the future.</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;">Furthermore, the
Group has been and may be affected by the measures or recommendations adopted
by regulatory authorities in the banking sector, including but not limited to,
the recent reductions in reference interest rates, the relaxation of prudential
requirements, the suspension of dividend payments, the adoption of moratorium
measures for bank customers (such as those included in Royal Decree Law 11/2020
in Spain, as well as in the CECA-AEB agreement to which BBVA has adhered and
which, among other things, allows loan debtors to extend maturities and defer
interest payments) and guarantee by public entities of certain provisions of
credit, especially to companies and self-employed individuals, as well as
changes in the financial asset purchase programs. As of December 31, 2020, the
majority of the amounts that had been deferred pursuant to the mandatory
COVID-19 moratoria will be due by the end of the first half of 2021, a period
during which economic conditions will likely continue to be challenging. </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;">Since the outbreak of
COVID-19, the Group has experienced a decline in its activity. For example, the
granting of new loans to individuals has significantly decreased since the
beginning of the state of emergency or periods of confinement decreed in
certain countries in which the Group operates. In addition, the Group faces
various risks, such as an increased risk of deterioration in the value of its
assets (including financial instruments valued at fair value, which may suffer
significant fluctuations) and of the securities held for liquidity reasons, a
possible significant increase in non-performing loans and risk-weighted assets
and a negative impact on the Group&#8217;s cost of financing and on its access to
financing (especially in an environment where credit ratings are affected). As
of December 31, 2020, an estimated approximately 9% of the Group&#8217;s exposure at
default (defined as the amount of risk exposure upon default by counterparties,
considering the Group&#8217;s loans and advances at amortized cost) related to
borrowers in certain industries facing particularly challenging conditions as a
result of the COVID 19 pandemic, specifically leisure, real estate developers,
non-food retailers, upstream and oilfield services and air and marine
transportation.</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
several of the countries in which the Group operates, including Spain, the
Group temporarily closed a significant number of its offices and reduced the
hours of working with the public, and the teams that provide central services
have had to work remotely. While these measures were progressively reversed in
most regions, additional restrictions on mobility could be adopted that affect
the Group&#8217;s operations. The COVID-19 pandemic could also adversely affect the
business and operations of third parties that provide critical services to the
Group and, in particular, the greater demand and/or reduced availability of
certain resources could in some cases make it more difficult for the Group to
maintain the required service levels. Furthermore, the increase in remote
working has increased the risks related to cybersecurity, as the use of
non-corporate networks has increased.</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 COVID-19 pandemic
has had an adverse effect on the Group&#8217;s results for the year ended December
31, 2020 as well as on the Group&#8217;s capital base as of December 31, 2020. For
information on the impact of the COVID-19 pandemic on the Group, 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&#8213;Operating
Results&#8213;Factors Affecting the Comparability of our Results of Operations
and Financial Condition&#8213;The COVID-19 Pandemic</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; and Notes 1.5 and 7.2
to our Consolidated Financial Statements.</font></font></p>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">10</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;">The COVID-19 pandemic has also exacerbated, and is likely
to continue to exacerbate, other risks disclosed in this section, including but
not limited to risks associated with the credit quality of the Group&#8217;s
borrowers and counterparties or collateral, any withdrawal of ECB funding (of
which the Group has made and continues to make significant use), the Group&#8217;s
exposure to sovereign debt and rating downgrades, the Group&#8217;s ability to comply
with its regulatory requirements, including MREL (as defined herein) and other
capital requirements, and the deterioration of economic conditions or changes
in the institutional environment. </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 final magnitude
of the impact of the COVID-19 pandemic on the Group&#8217;s business, financial
condition and results of operations, which is expected to be significant, will
depend on future and uncertain events, including the intensity and persistence
over time of the consequences arising from the COVID-19 pandemic in the
different geographies in which the Group operates.</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;">A deterioration in
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></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group is
sensitive to the deterioration of economic conditions or the alteration of the
institutional environment of the countries in which it operates, and especially
Spain, Mexico, the United States and Turkey, which respectively represented
55.1%, 15.0%, 12.8% and 8.1% of the Group's assets as of December 31, 2020
(52.3%, 15.6%, 12.7% and 9.2% as of December 31, 2019, respectively).
Additionally, the Group is exposed to sovereign debt, particularly sovereign
debt related to these geographies. Please 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;Operating Results&#8212;Operating Environment</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; for
summarized information on some of the challenges that these countries are
currently facing and that, therefore, could significantly affect 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;">Currently, the world
economy is facing several exceptional challenges. In particular, the crisis
derived from the COVID-19 pandemic has abruptly and significantly deteriorated
the economic conditions of the countries in which the Group operates, leading
many of them to an economic recession in 2020. Furthermore, this crisis could
lead to a deglobalization of the world economy, produce an increase in
protectionism or barriers to immigration, fuel the trade war between the United
States and China and result in a general withdrawal of international trade in
goods and services, as well as having other effects of long duration that
transcend the pandemic itself. Added to this is the uncertainty regarding the
United Kingdom&#8217;s (the &#8220;UK&#8221;) exit from the EU (&#8220;Brexit&#8221;). The long-term effects
of Brexit will depend on the relationship between the UK and the EU after its
complete exit from the European Single Market, which took place last December
31, 2020. Furthermore, in a scenario as uncertain as the current one, emerging
economies (to which the Group is significantly exposed, particularly in the
case of Mexico and Turkey) could be particularly vulnerable to a trade war or
if there were changes in the financial risk appetite. Likewise, the possible
triggering of a disorderly deleveraging process in China would pose a
significant risk to these economies.</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;">Thus, the Group
faces, among others, the following general risks to the economic and
institutional environment in which it operates: a deterioration in economic
activity in the countries in which it operates, which could lead to further
economic recession in some or all of those countries; more intense deflationary
pressures or even deflation; variations in exchange rates; a very low interest
rate environment, or even a long period of negative interest rates in some
regions where the Group operates; an unfavorable evolution of the real estate
market, to which the Group remains significantly exposed; very low oil prices;
changes in the institutional environment in the countries in which the Group
operates that could lead to sudden and sharp falls in GDP and/or regulatory
changes; a growing public deficit that could lead to downgrades in sovereign
debt credit ratings and even a possible default or restructuring of such debt;
and episodes of volatility in markets, such as those currently being
experienced, which could lead the Group to register significant losses.</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;">BUSINESS RISKS</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;"><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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The total maximum
credit risk exposure of the Group as of December 31, 2020 was &#8364;749,524 million
(&#8364;809,786 million and &#8364;763,082 million as of December 31, 2019 and 2018,
respectively). 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 </font></font><!-- Do not modify beyond this point! !--><a name=bcl_connect_next></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;"><font style="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;"><a name=bcl_connect_prev></a><!-- Do not modify before this point! !--><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">by a range of factors, including an adverse
economic environment, reduced consumer, corporate or government spending,
changes in the rating of individual contractual counterparties, their debt
levels and the environment in which they operate, increased unemployment,
reduced asset values, increased retail 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 or provisions and legal and regulatory developments.</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;">Non-performing or
impaired customer loans have been adversely affecting, and are expected to continue
to adversely affect, the Group's results given the increasing economic
uncertainty. As of December 31, 2020, the Group had a 4.0% NPL ratio (as
defined in the Glossary to our Consolidated Financial Statements) compared to
3.8% and 3.9% as of December 31, 2019 and 2018, respectively. Prior to the
COVID-19 pandemic, NPL ratios progressively improved due in part to the low
interest rates, which improved clients' ability to pay. However, NPLs are
expected to significantly increase once payment moratoria schemes adopted by
governments are lifted due to the effects of the COVID-19 pandemic.</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, it is
possible that the current scenario of economic deterioration results in a
decrease in the prices of real estate assets in Spain and other countries (in
particular, Mexico, Turkey and the United States, given the Group&#8217;s exposure to
these markets). </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,
2020, the Group's exposure to the construction and real estate sectors
(excluding the mortgage portfolio) in Spain was equivalent to &#8364;10,024 million,
of which &#8364;2,565 million corresponded to loans for construction and development
activities in Spain (representing 1.6% of the Group's loans and advances to
customers in Spain (excluding the public sector) and 0.3% of the Group's
consolidated assets). The Group continues to be exposed to the real estate
market, mainly in Spain, due to the fact that many of its loans are secured by
real estate assets, due to the significant volume of real estate assets that it
maintains on its balance sheet, and due to its shareholding in real estate
companies such as Metrovacesa, S.A. and 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;).
The total real estate exposure (excluding the mortgage portfolio), including
developer credit, foreclosed assets and other assets, reflected a coverage
ratio of 53% in Spain as of December 31, 2020. A fall in the prices of real
estate assets in Spain (or in other countries where the Group has significant
real estate exposure such as Mexico) would reduce the value of the
shareholdings referred to above, as well as the value of any real estate
securing loans granted by the Group and, therefore, in the event of default,
the amount of the &#8220;expected losses&#8221; related to such loans would increase. In
addition, it could also have a significant adverse effect on the default rates
of the Group's residential mortgage portfolio, the balance of which, as of
December 31, 2020, was &#8364;103,923 million at a global level (&#8364;110,534 million and
&#8364;111,526 million as of December 31, 2019 and 2018, respectively).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The magnitude, timing
and pace of any increase in default rates will be key for the Group.
Furthermore, it is possible that the Group has incorrectly assessed the
creditworthiness or willingness to pay of its borrowers and counterparties,
that it has underestimated the credit risks and potential losses inherent in
its credit exposure and that it has made insufficient provisions for such risks
in a timely manner. These processes, which have a crucial impact on the Group's
results and financial condition, require difficult, subjective and complex
calculations, including forecasts of the impact that macroeconomic conditions
could have on these borrowers and counterparties. In particular, the processes
followed by the Group to estimate losses derived from its exposure to credit
risk may prove to be inadequate or insufficient in the current environment of
high economic uncertainty, which could affect the adequacy of the provisions
for insolvencies provided by the Group. An increase in non-performing or
low-quality loans could significantly and adversely affect the Group'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: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 interest rates</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s 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 sector in the markets in which it operates, domestic and
international economic and political conditions and other factors. In this
sense, the COVID-19 pandemic has triggered a process of cuts in reference
interest rates, which, moreover, will likely take time to be raised and, if
raised, interest rates will likely increase at a slower rate than previously foreseen.
It is possible that changes in market interest rates, which could be negative
in some cases, and the ongoing benchmark reform affect the Group&#8217;s
interest-earning assets differently from the Group&#8217;s interest-bearing
liabilities. This, in turn, may lead to a reduction in the Group's net interest
margin, which could have a significant adverse effect on its results. Moreover,
the ongoing benchmark reform exposes the Group to other significant risks,
including legal and operational risks.</font></font></p>


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


</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;">Furthermore, if interest rates were to increase in some or
all of our markets, this 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 default rate. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the
above, the evolution of interest rates 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: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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In recent years,
international regulators have been 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:17.85pt;"><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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-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 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:17.85pt;"><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 faces increasing competition </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 markets in which
the Group operates are highly competitive and it is expected that this trend
will continue in the coming years with the increasing entry of non-bank
competitors (some of which have large client portfolios and strong brand
recognition) and the emergence of new business models, as indicated by the
Financial Stability Board&#8217;s report on FinTech and market structure in financial
services. Although the Group is making efforts to anticipate these changes,
betting on its digital transformation, its competitive position is affected by
the regulatory asymmetry that benefits non-bank operators. 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 operators
that are only subject to regulations specific to the activity they develop or
that benefit from loopholes in the regulatory framework. Furthermore, when
banking groups carry out financial activities through the use of new
technologies, they are generally subject to additional internal governance
rules that place such groups at a competitive disadvantage. </font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">Moreover, the widespread adoption of new technologies,
including cryptocurrencies and payment systems, could require substantial
investment to modify or adapt existing products and services as the Group
continues to increase its mobile and internet banking capabilities. Likewise, the
increasing use of these new technologies and mobile banking platforms could
have an adverse impact on the Group's investments in facilities, equipment and
employees of the branch network. A faster pace of transformation towards mobile
and online banking models could require changes in the Group's commercial
banking strategy, including the closure or sale of some branches and the
restructuring of others, and reductions in employees. These changes could
result in significant expenses as the Group reconfigures and transforms its
commercial network. Failure to effectively implement such changes efficiently
and on a timely basis could have a material adverse impact on the Group's
competitive position or otherwise 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;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;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 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 USA remains subject to obtaining the relevant regulatory
authorizations. Other recent transactions include the sale of BBVA Paraguay,
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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align: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 may not
complete any ongoing or future 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 adversely affected by divestiture or acquisition-related charges and
contingencies. 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. In the case of an acquisition, 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
similar or other 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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the case of an
acquisition, 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
there may be risks associated with unforeseen events or liabilities relating to
the acquired assets or businesses that may not have been revealed or properly
assessed during the due diligence processes, resulting in the Group assuming
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:17.85pt;"><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;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 derived from its international
geographic diversification and its significant presence in emerging countries</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group is made up
of commercial banks, insurance companies and other financial services companies
in various countries and its performance as a global business depends on its
ability to manage its different businesses under various economic, social and
political conditions, facing different normative and regulatory requirements in
many of the jurisdictions in which it operates (including, among others,
different supervisory regimes and different tax and legal regimes related to
the repatriation of funds or the nationalization or expropriation of assets). </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, the
Group's international operations may expose it to risks and challenges to which
its local competitors may not be exposed, such as currency risk, the difficulty
of managing or supervising a local entity from abroad, political risks (which
could affect only foreign investors) or limitations on the distribution of
dividends, thus worsening its position compared to that of local competitors.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">There can be no guarantee that the Group will be successful
in developing and implementing policies and strategies in all of the countries
in which it operates, some of which have experienced significant economic,
political and social volatility in recent decades. In particular, the Group has
significant operations in several emerging countries, such as Mexico and
Turkey, and is therefore vulnerable to the deterioration of these economies.
Emerging markets are generally affected by the conditions of other commercially
or financially related markets and by the evolution of global financial markets
in general (they may be affected, for example, by the evolution of interest
rates in the United States and the exchange rate of the U.S. dollar), as well
as, in some cases, by fluctuations in the prices of commodities. The perception
that the risks associated with investing in emerging economies have increased,
in general, or in emerging markets where the Group operates, in particular,
could reduce capital flows to those economies and adversely affect such
economies, and therefore the Group. Moreover, emerging countries are more prone
to experience significant changes in inflation and foreign exchange rates,
which may have a material impact on the Group&#8217;s results of operations, assets
(including RWAs (as defined herein)) and liabilities.</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's
operations in emerging countries are also exposed to heightened political
risks, such as changes in governmental policies, expropriation,
nationalization, interest rate limits, exchange controls, government
restrictions on dividends and adverse tax policies. For example, the
repatriation of dividends from BBVA&#8217;s Venezuelan and Argentinean subsidiaries
is subject to certain restrictions and there is no assurance that further restrictions
will not be imposed.</font><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:10.0pt;text-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 Group failed
to adopt effective and timely policies and strategies in response to the risks
and challenges it faces in each of the regions where it operates, particularly
in emerging countries, the Group&#8217;s business, financial condition and results of
operations could be materially and adversely affected.</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;">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:17.85pt;"><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, 2020,
total risk in financial assets 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;236,016 million, equivalent to 42% of the
Group&#8217;s total risk in financial assets.</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 COVID-19 pandemic has had a
significant impact on the Spanish economy and the sovereign fiscal position.
Spanish GDP is estimated to have contracted around 11.0% in 2020, as the
pandemic and the measures adopted to slow its spread brought about a sharp
reduction in economic activity in the first half of the year, which was among
the most severe within the Eurozone. The sharp decline in economic activity and
measures adopted to support the economy have given rise to concerns about
public debt sustainability in the medium and long term. In addition, while increases
in unemployment have been limited by the implementation of short-time work
schemes (ERTEs), as these measures are withdrawn in 2021, unemployment is
expected to rise. Further, while economic recovery is expected to be boosted by
the implementation of EU-level initiatives, in particular the financial support
linked to the Next Generation EU (NGEU) plan, there are risks as to the
capacity of the Spanish economy to absorb the EU funds and translate the
support to productive investment. 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 gross exposure of loans and
advances to customers in Spain totaled &#8364;195,983 million as of December 31,
2020, representing 61% 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 16% of the
Group&#8217;s assets in Spain as of December 31, 2020 (18% as of December 31, 2019).
While social and political tensions have generally declined since 2017, 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:17.85pt;"><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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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;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 continuous demand for liquidity to finance
its activities and the withdrawal of deposits or other sources of liquidity
could significantly affect it</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;">Traditionally, </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">one of the Group's
main sources of financing has been savings accounts and demand deposits. As of
December 31, 2020, the balance of customer deposits represented 70% of the
Group's total financial liabilities at amortized cost. However, the volume of
wholesale and retail deposits can fluctuate significantly, including as a
result of factors beyond the Group's control, such as general economic
conditions, changes in economic policy or administrative decisions that
diminish their attractiveness as savings instruments (for example, as a
consequence of changes in taxation, coverage by guarantee funds for deposits or
expropriations) or competition from other savings or investment instruments
(including deposits from other banks).</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;">Likewise,
changes in interest rates and credit spreads may significantly affect the cost
of the Group&#8217;s short and long-term wholesale financing. Changes in credit
spreads are driven by market factors and are also influenced by the market&#8217;s
perception of the Group's solvency. As of December 31, 2020, debt securities
issued by the Group represented 12.6% of the total financial liabilities at
amortized cost of the Group.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In
addition, the Group has made and continues to make significant use of public
sources of liquidity, such as the European Central Bank's (ECB) extraordinary
measures taken in response to the financial crisis since 2008 or those taken in
connection with the crisis caused by the COVID-19 pandemic. The ECB announced
in December 2020 the new conditions of Targeted Long Term Refinancing
Operations (TLTRO) III, increasing the maximum amount that BBVA may receive
from &#8364;35,000 million to &#8364;38,500 million and extending the enhanced conditions
in terms of cost one additional year until June 2022. As of December 31, 2020,
&#8364;35,032 million had been borrowed by BBVA (&#8364;7,000 million were drawn down as of
each of December 2019 and March 2020, and &#8364;21,000 million as of June 2020).
BBVA plans to take up an additional &#8364;3,500 million in March 2021 to reach its
full allotment. However, the conditions of this or other programs could be
revised or these programs could be cancelled. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the
event of a withdrawal of deposits or other sources of liquidity, especially if
it is sudden or unexpected, the Group may not be able to finance its financial
obligations or meet the minimum liquidity requirements that apply to it, and
may be forced to incur higher financial costs, liquidate assets and take
additional measures to reduce leverage. Furthermore, the Group could be subject
to the adoption of early intervention measures or, ultimately, to the adoption
of a resolution measure by the Relevant Spanish Resolution Authority (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 4. Information on the Company&#8212;Business
Overview&#8212;Supervision and Regulation&#8212;Principal Markets&#8212;Spain&#8212;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;">&#8221;</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">). Any of the above could have a material adverse effect on
the Group&#8217;s business, financial condition and results of operations</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group and some of its subsidiaries depend on their
credit ratings and sovereign credit ratings</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;">Rating </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">agencies periodically
review the Group's debt credit ratings. Any reduction, effective or
anticipated, in any such ratings of the Group, whether below investment grade
or otherwise, could limit or impair the Group's access to capital markets and
other possible sources of liquidity and increase the Group&#8217;s financing cost,
and entail the breach or early termination of certain contracts or give rise to
additional obligations under those contracts, such as the need to grant
additional guarantees. The Group estimates that, if at December 31, 2020 rating
agencies</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">had downgraded Banco Bilbao Vizcaya Argentaria, S.A.&#8217;s
long-term senior debt rating by one notch, it would have had to provide
additional guarantees/collateral amounting to &#8364;36.3 million under its
derivative and other financial contracts. A hypothetical two-notch downgrade
would have involved an outlay of &#8364;66.8 million in additional
guarantees/collateral. Furthermore, if the Group were required to cancel its
derivative contracts with some of its counterparties and were unable to replace
them, its market risk would worsen. Likewise, a reduction in the credit rating
could affect the Group's ability to sell or market some of its products or to
participate in certain transactions, and could lead to the loss of customer
deposits and make third parties less willing to carry out commercial
transactions with the Group (especially those that require a minimum credit
rating), having a significant adverse impact on the Group'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-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;">Furthermore, the Group's credit ratings
could be affected by variations in sovereign credit ratings, particularly the
rating of Spanish sovereign debt. The Group holds a significant portfolio of
debt issued by the Kingdom of Spain, by the Spanish autonomous communities and
by other Spanish issuers. As of December 31, 2020, the Group's exposure to the
Kingdom of Spain's public debt portfolio was &#8364;46,401 million, representing 6%
of the consolidated total assets of the Group. Any decrease in the credit
rating of the Kingdom of Spain could adversely affect the valuation of the
respective debt portfolios held by the Group and lead to a reduction in the
Group's credit ratings. Additionally, counterparties to many of the credit
agreements signed with the Group could also be affected by a decrease in the
credit rating of the Kingdom of Spain, which could limit their ability to
attract additional resources or otherwise affect their ability to pay their
outstanding obligations to 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;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 consequence of the COVID-19 pandemic, some
rating agencies have reviewed the Group's credit ratings or trends.
Specifically, on June 22, 2020 Fitch announced the modification of BBVA&#8217;s
senior preferred debt long-term rating to A- with stable outlook from A with
Rating Watch Negative. On April 1, 2020, DBRS confirmed BBVA&#8217;s long-term rating
of A (High) and maintained the outlook as stable. On April 29, 2020 S&amp;P
confirmed BBVA's long-term rating of A- and maintained its negative outlook.
There may be more ratings actions and changes in BBVA&#8217;s credit ratings in the
future as a result of the crisis caused by the COVID-19 pandemic, any of which
could have a material adverse effect on the Group&#8217;s business, financial
condition and results of operations</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;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's ability to pay dividends depends, in part, on
the receipt of dividends from its subsidiaries</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;">Some </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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. Due, in part, to the Group's
decision to follow a 'Multiple Point of Entry' strategy, in accordance with the
framework for the resolution of financial entities designed by the Financial
Stability Board (FSB), the Group&#8217;s subsidiaries are self-sufficient and each
subsidiary is responsible for managing its own capital and liquidity. This
means that the payment of dividends, distributions and advances by the Group&#8217;s
subsidiaries to BBVA depends not only on the results of those subsidiaries, but
also on the context of their operations and liquidity needs, and may be further
limited by legal, regulatory and contractual restrictions. For example, in
response to the crisis caused by the COVID-19 pandemic, certain restrictions
were adopted that affect the distribution and/or repatriation of dividends of
some of the Group's subsidiaries. There is no assurance that these restrictions
will not remain in effect or, where lifted, reinstated, or that similar or new
restrictions will not be imposed in the future. Furthermore, the Group's right,
as a shareholder, to participate in the distribution of assets resulting from
the eventual liquidation or any reorganization of its subsidiaries will be
effectively subordinated to the rights of the creditors of those subsidiaries,
including their commercial creditors.</font></font></p>

<p 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, the Group (including the Bank)
must comply with certain capital requirements, where non-compliance could lead
to the imposition of restrictions or prohibitions on making any: (i) distributions
relating to common equity tier (&#8220;CET1&#8221;) capital; (ii) payments related to
variable remuneration or discretionary pension benefits; and (iii)
distributions linked to additional tier 1 (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">AT1</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) instruments
(collectively, &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">discretionary payments</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). Likewise, the ability of the
Bank and its subsidiaries to pay dividends is conditioned by the
recommendations and requirements of their respective supervisors, such as those
made in response to the COVID-19 pandemic. In this regard, on April 30, 2020,
the Bank announced that it had agreed to modify, for the financial year 2020,
the Group's shareholder remuneration policy, opting not to pay any amount as a
dividend corresponding to the financial year 2020 until the uncertainties
generated by the COVID-19 pandemic dissipate and, in any case, not before the
close of the 2020 fiscal year. While, on January 29, 2021, in line with the
latest recommendation of the ECB, the Bank announced its intention to
distribute 0.059 euros per share in respect of 2020 profit and to reinstate
during 2021 its dividend policy announced in 2017 once any recommendation is
repealed and there are no additional restrictions or limitations, no assurance
can be given that further supervisory restrictions or recommendations will not
restrict our or our subsidiaries&#8217; ability to distribute dividends in the future
(see &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 8. Financial Information&#8212;Consolidated Statements and Other
Financial Information&#8212;Dividends</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).&nbsp;</font></font></p>

<p style="border:none;margin-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;">Any dividends of BBVA or any of its
subsidiaries may be subject to further regulatory restrictions or
recommendations, or current restrictions or recommendations could be in place
for a longer or indefinite period</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: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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulatory, business,
economic or political changes and other factors could lead to asset impairment.
In recent years, 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. Doubts
regarding the asset quality of European banks has also affected their evolution
in the market in recent years.</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;">Several ongoing
factors could depress the valuation of our assets or otherwise lead to the
impairment of such assets (including goodwill and deferred tax assets). This
includes the COVID-19 crisis, Brexit, the surge of populist trends in several
European countries, increased trade tensions and potential changes in U.S.
economic policies implemented by the new U.S. administration, any of which
could increase global financial volatility and lead to the reallocation of
assets. 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. </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 particular, the
final impact of the COVID-19 crisis on the valuation of the Group&#8217;s assets is
still unknown. Since the outbreak of the crisis in the first quarter of 2020,
public support measures have been introduced in the countries where the Group
operates, most of which have been in the form of public guarantees on new loans
to corporates and SMEs and moratoria and payment holidays on certain household
loans. Once these measures come to an end, it is possible that the Group will
need to record significant loan-loss provisions as a result of the deterioration
in the credit quality of our clients, especially SMEs. Any such provisions
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 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-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s
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:17.85pt;"><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: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 RISKS</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;">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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The financial sector
faces an environment of increasing regulatory and litigation pressure. The
Group is party to government procedures and investigations, such as those
carried out by the antitrust authorities which, among other things, have in the
past and could in the future result in sanctions, as well as lead to claims by
customers and others. The various Group entities are also frequently party to
individual or collective judicial proceedings (including class actions)
resulting from their activity and operations, as well as arbitration
proceedings. For example, in April 2017, the Mexican Federal Economic Competition
Commission (Comisi&#243;n Federal de Competencia Econ&#243;mica) 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 (Comisi&#243;n Nacional Bancaria y de
Valores) also initiated a separate investigation regarding this matter. These
investigations resulted in certain fines, insignificant in amount, being
initially imposed, certain of 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. In December 2019, following a decision from
the judge assigned to hear the proceedings, plaintiffs withdrew their claims
against BBVA Mexico&#8217;s affiliates. In November 2020, the judge granted the
remaining defendants&#8217; motion to dismiss for lack of personal, which the
plaintiffs may appeal. More generally, in recent years, regulators have
increased their supervisory focus on consumer protection and corporate
behavior, which has resulted in a larger number of regulatory actions.</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 other
jurisdictions where the Group operates, legal and regulatory actions and
proceedings against financial institutions, prompted in part by certain recent
national and supranational rulings in favor of consumers (with regards to
matters such as credit cards and mortgage loans), have increased significantly
in recent years and this trend could continue in the future. The legal and
regulatory actions and proceedings faced by other financial institutions in
relation to these and other matters, especially if such actions or proceedings
result in favorable resolutions for the consumer, could also adversely affect
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;">All of the above may
result in a significant increase in operating and compliance costs and/or a
reduction in revenues, and it is possible that an adverse outcome in any
proceedings (depending on the amount thereof, the penalties imposed or the
resulting procedural or management costs for the Group) could materially and
adversely affect the Group, including by damaging its reputation.</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;">It is difficult to
predict the outcome of legal and regulatory actions and proceedings, both those
to which the Group is currently exposed and those that may arise in the future,
including actions and proceedings relating to former Group subsidiaries or in
respect of which the Group may have indemnification obligations. Any of such outcomes
could be significantly adverse to the Group. In addition, a decision in any
matter, whether against the Group or against another credit entity facing
similar claims as those faced by the Group, could give rise to other claims
against the Group. In addition, these actions and proceedings draw resources
away from the Group and may require significant attention on the part of the
Group's management and employees.</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,
2020, the Group had &#8364;612 million in provisions for the proceedings it is facing
(which are included in the line item &quot;Provisions for taxes and other legal
contingencies&quot; in the consolidated balance sheet), of which &#8364;574 million
corresponded to legal contingencies and &#8364;38 million corresponded to tax related
contingencies. However, the uncertainty arising from these proceedings
(including those for which no provisions have been made, either because it is
not possible to estimate any such provisions or for other reasons) makes it
impossible to guarantee that the possible losses arising from such proceedings
will not exceed, where applicable, the amounts that the Group currently has
provisioned and, therefore, could affect the Group's consolidated results in a
given period.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the
above, legal and regulatory actions and proceedings currently faced by the
Group or to which it may become subject in the future or which may otherwise
affect the Group, whether individually or in the aggregate, if resolved in
whole or in part adversely to the Group's interests, 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;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:17.85pt;"><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 constitute bribery,
revelation of secrets and corruption. 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. Certain current and former
officers and employees of the Group, as well as former directors, 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 obtained in the
internal investigation hired by the entity in 2019 to contribute to the
clarification of the facts. As at the date of this Annual Report, no formal
accusation against the Bank has been made.</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 criminal
judicial proceeding is in the pre-trial phase. 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;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">REGULATORY, TAX AND
REPORTING RISKS</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 financial
services sector is one of the most regulated in the world. The Group is subject
to a broad regulatory and supervisory framework, which has increased
significantly in the last decade. Regulatory activity in recent years has
affected multiple areas, including changes in accounting standards; strict
regulation of capital, liquidity and remuneration; bank charges and taxes on financial
transactions; regulations affecting mortgages, banking products and consumers
and users; recovery and resolution measures; stress tests; prevention of money
laundering and terrorist financing; market abuse; conduct in the financial
markets; anti-corruption; and requirements as to the periodic publication of
information. Governments, regulatory authorities and other institutions
continually make proposals to strengthen the resistance of financial
institutions to future crises.</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;">Furthermore, the
international nature of the Group&#8217;s operations means that the Group is subject
to a wide and complex range of local and international regulations in these
matters, sometimes with overlapping scopes and areas regulated. This
complexity, which can be exacerbated by differences and changes in the
interpretation or application of these standards by local authorities, makes
compliance risk management difficult, requiring highly sophisticated
monitoring, qualified personnel and general training of employees.</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;">Any change in the
Group's business that is necessary to comply with any particular regulations at
any time, especially in Spain, Mexico, Turkey or, pending completion of the
sale of BBVA USA, the United States, could lead to a considerable loss of
income, limit the Group's ability to identify business opportunities, affect
the valuation of its assets, force the Group to increase its prices and,
therefore, reduce the 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;">The Group is subject to a broad regulatory and supervisory
framework, including resolution regulations, which could have a significant
adverse effect on its business, financial condition and results of 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;">The </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Group is subject to a
comprehensive regulatory and supervisory framework the complexity and scope of
which has increased significantly since the previous financial crisis and which
could further increase as a result of the crisis caused by the COVID-19
pandemic. In particular, the banking sector is subject to continuous scrutiny
at the political and supervisory levels, and it is foreseeable that in the
future there will continue to be political involvement in regulatory and
supervisory processes, as well as in the governance of the main financial
entities. For this reason, the laws, regulations and policies to which the
Group is subject, as well as their interpretation and application, may change
at any time. In addition, supervisors and regulators have significant
discretion in carrying out their duties, which gives rise to uncertainty
regarding the interpretation and implementation of the regulatory framework.
Moreover, regulatory fragmentation and the implementation by some countries of
more flexible or stricter rules or regulations could also adversely affect the
Group's ability to compete with financial institutions that may or may not have
to comply with any such rules or regulations, as applicable.</font></font></p>


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


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left: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;">Regulatory changes, adopted or
proposed, as well as their interpretation or application, have increased and
may continue to substantially increase the Group's operating expenses and
adversely affect its business model. For example, the imposition of prudential
capital standards has limited and could further limit the ability of
subsidiaries to distribute capital to the Group, while liquidity standards may
require the Group to hold a higher proportion of financial instruments with
higher liquidity and lower performance, which can adversely affect its net
interest margin. In addition, the Group's regulatory and supervisory
authorities may require the Group to increase its loan loss allowances or asset
impairments, which could have an adverse effect on its financial condition. It
is also possible that governments and regulators impose additional ad hoc
regulations or requirements in response to the crisis caused by the COVID-19
pandemic, including the imposition of requirements on credit institutions to
provide financing to various entities such as, for example, the Fund for
Orderly Bank Restructuring (</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fondo de Reestructuraci&#243;n Ordenada Bancaria</font></i><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;">FROB</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) or the Single Resolution Board (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SRB</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).&nbsp;</font></font></p>

<p style="border:none;margin-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;">Any legislative or regulatory measure and any
necessary change in the Group's business operations as a consequence of such
measure, as well as any failure to comply with it, could result in a
significant loss of income, represent a limitation on the ability of the Group
to take advantage of business opportunities and offer certain products and
services, affect the value of the Group's assets, force the Group to increase
prices (which could reduce the demand for its products), impose additional
compliance costs or result in other possible negative effects 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;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;">One of the most significant regulatory changes
resulting from the prior financial crisis was the introduction of resolution
regulations (which are described in &#8220;I</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">tem 4. Information on the
Company&#8212;Business Overview&#8212;Supervision and Regulation</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). In the event that
the Relevant Spanish Resolution Authority (as defined herein) considers that
the Group is in a situation where conditions for early intervention or
resolution are met, it may adopt the measures provided for in the applicable
regulations, including without prior notice. Such determination, or the mere
possibility that such determination could be made, could materially and
adversely affect the Group's business, financial condition and results of
operations, as well as the market price and behavior of certain securities
issued by the Group (or their terms, in the event of an exercise of the Spanish
Bail-in-Power (as defined herein))</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.
</font></font></p>

<p style="border:none;margin: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 and liquidity requirements may
have a material adverse effect on the Group&#8217;s business, financial condition and
results of operations</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">described in </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 4.
Information on the Company&#8212;Business Overview&#8212;Supervision and Regulation</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;,
in its capacity as a Spanish credit institution, the Group is subject to
compliance with a &#8220;Pillar 1&#8221; solvency requirement, a &#8220;Pillar 2&#8221; solvency
requirement and a &#8220;combined buffer requirement&#8221; at both the individual and
consolidated levels. As a result of the latest Supervisory Review and
Evaluation Process (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SREP</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) carried out by the ECB, and in accordance
with the measures implemented by the ECB on March 12, 2020, by means of which
banks may partially use AT1 and Tier 2 capital instruments in order to fulfil
the &#8220;Pillar 2&#8221; requirement, BBVA must maintain, at a consolidated level, a CET1
ratio of 8.59% and a total capital ratio of 12.75%. In addition, BBVA must
maintain, on an individual level, a CET1 ratio of 7.84% and a total capital
ratio of 12.01% As of December 31, 2020, the Group&#8217;s phased-in total capital
ratio was 16.46% on a consolidated basis and 20.68% on an individual basis, and
its CET1 phased-in capital ratio was 12.15% on a consolidated basis and 15.14%
on an individual basis.</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;">Additionally,
as described in </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 4. Information on the Company&#8212;Business
Overview&#8212;Supervision and Regulation</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;, Banco Bilbao Vizcaya Argentaria,
S.A., as a Spanish credit institution, must maintain a minimum level of own
funds and eligible liabilities (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MREL requirement</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) in relation to
total liabilities and own funds. On November 19, 2019, the Bank announced that
it had received notification from the Bank of Spain of its MREL, as determined
by the SRB. The Bank&#8217;s MREL was set at 15.16% of the total liabilities and own
funds of the Bank&#8217;s resolution group at a sub-consolidated level from January
1, 2021. Likewise, of this MREL, 8.01% of the total liabilities and own funds must
be met with subordinated instruments, once the allowance established in the
requirement itself has been applied. This MREL is equivalent to 28.50% of the
Risk Weighted Assets (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">RWAs</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) of the Bank&#8217;s resolution group, while the
subordination requirement included in the MREL is equivalent to 15.05% of the
RWAs of the Group&#8217;s resolution group, once the corresponding allowance has been
applied.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Bank estimates that, following the entry
into force of SRM Regulation II (as defined herein) (which, among other
matters, establishes the MREL in terms of RWAs and sets forth new transitional
periods and deadlines, and which we interpret would be applicable to our MREL
requirement), the current structure of shareholders&#8217; funds and admissible
liabilities enables the Bank&#8217;s compliance with its MREL requirement. However,
both the total capital and the MREL requirements are subject to interpretation
and change and, therefore, no assurance can be given that our interpretation is
the appropriate one or that the Bank and/or the Group will not be subject to
more stringent requirements at any future time. Likewise, no assurance can be
given that the Bank and/or the Group will be able to fulfil whatever future
requirements may be imposed, even if such requirements were to be equal or
lower. There can also be no assurances as to the ability of the Bank and/or the
Group to comply with any capital target announced to the market at any given
time, which could be adversely perceived by investors and/or supervisors, who
could interpret that a lack of capital-generating capacity exists or that the
capital structure has deteriorated, either of which could adversely affect the
market value or behavior of securities issued by the Bank and/or the Group
(and, in particular, any eligible liabilities and any capital instruments) and,
therefore, lead to the implementation of new recommendations or requirements
regarding &#8220;Pillar 2&#8221; or (should the Relevant Spanish Resolution Authority
interpret that obstacles may exist for the viability of the resolution of the
Bank and /or the Group), MREL.</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;">If the
Bank or the Group failed to comply with its &#8220;combined buffer requirement&#8221; they
would have to calculate the Maximum Distributable Amount (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MDA</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and,
until such calculation has been undertaken and reported to the Bank of Spain,
the affected entity would not be able to make any discretionary payments. Once
the MDA has been calculated and reported, such discretionary payments would be
limited to the calculated MDA. Likewise, should the Bank or the Group not meet
the applicable capital requirements, additional requirements of &#8220;Pillar 2&#8221; or,
if applicable, MREL could be imposed. Likewise, in accordance with the EU
Banking Reforms (as defined below), any failure by the Bank or the Group to
comply with its respective &#8220;combined buffer requirement&#8221; when considered in
addition to its MREL could result in the imposition of restrictions or
prohibitions on discretionary payments. Additionally, failure to comply with
the capital requirements may result in the implementation of early intervention
measures or, ultimately, resolution measures by the resolution authorities.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulation
(EU) 2019/876 of the European Parliament and of the Council, of May 20, 2019
(as amended, replaced or supplemented at any time, &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRR II</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) establishes
a binding requirement for the leverage ratio effective from June 28, 2021 of 3%
of Tier 1 capital (as of December 31, 2020, the phased-in leverage ratio of the
Group was 6.68% and fully loaded it was 6.46%). Moreover, the EU Banking
Reforms&nbsp;include a leverage ratio buffer for financial institutions of
global systemic importance (</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">G-SIBs</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) to be met with Tier 1 capital. Any
failure to comply with this leverage ratio buffer may also result in the need
to calculate and report the MDA, and restrictions on discretionary payments.
Moreover, CRR II proposes new requirements that capital instruments must meet
in order to be considered AT1 or Tier 2 instruments, including certain
grandfathering measures until June 28, 2025. Once the grandfathering period in
CRR II has elapsed, AT1 and/or Tier 2 instruments which do not comply with the
new requirements at such date will no longer be considered as capital
instruments. This could give rise to shortfalls in regulatory capital and,
ultimately, could result in failure to comply with the applicable minimum
regulatory capital requirements, with the aforementioned consequences.</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;">Additionally,
the implementation of the ECB expectations regarding prudential provisions for
NPLs (published on May 15, 2018) and the ECB&#8217;s current review of internal
models being used by banks subject to its supervision for the calculation of
their RWAs (TRIMs) could result, respectively, in the need to increase
provisions for future NPLs and increases in the Group&#8217;s capital needs.</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;">Furthermore,
the implementation of the Basel III reforms described in &#8220;</font><i><font color=black 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&#8221;</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
could result in an increase of the Bank&#8217;s and the Group&#8217;s total RWAs and,
therefore, could also result in a decrease of the Bank&#8217;s and the Group&#8217;s
capital ratios. Likewise, 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:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additionally,
should the Total Loss Absorbing Capacity (</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TLAC</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) requirements, as
described in </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 4. Information on the Company&#8212;Business
Overview&#8212;Supervision and Regulation&#8221;</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, currently only imposed upon G-SIBs,
be applicable upon non-G-SIBs entities or should the Group once again be
classified as a G-SIB, additional minimum requirements similar to MREL could in
the future be imposed upon 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>


</DIV>
<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;">There can be no assurance that the above
capital requirements or MREL will not adversely affect the Bank&#8217;s or its
subsidiaries&#8217; ability to make discretionary payments, or result in the
cancellation of such payments (in whole or in part), or require the Bank or
such subsidiaries to issue additional securities that qualify as eligible
liabilities or regulatory capital, to liquidate assets, to curtail business or
to take any other actions, any of which may have adverse effects on the Group&#8217;s
business, financial condition and results of operations. Furthermore, an
increase in capital requirements could adversely affect the return on equity
and other of the Group&#8217;s financial results indicators. Moreover, the Bank&#8217;s or
the Group&#8217;s failure to comply with their capital requirements and MREL could
have a significant 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:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Lastly,
the Group must also comply with liquidity and funding ratios. Several elements
of the Liquidity Coverage Ratio (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">LCR</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)&nbsp;</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and net stable financing
ratio (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">NSFR</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) (as such ratios are defined in Note 7.5 to our Consolidated
Financial Statements), as introduced by national banking regulators and
fulfilled by the Group, may require implementing changes in some of its
commercial practices, which could expose the Group to additional expenses
(including an increase in compliance expenses), affect the profitability of its
activities or otherwise lead to a significant adverse effect over the Group&#8217;s
business, financial condition or results of operations. As of December 31, 2020
and December 31, 2019, the Group's LCR was 149% and 129% respectively. The NSFR
was 127% as of December 31, 2020 and 120% as of December 31, 2019. For further
information, see Note 7.5 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;">The Group is exposed to tax risks that may adversely affect
it</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 size, geographic
diversity and complexity of the Group and its commercial and financial
relationships with both third parties and related parties result in the need to
consider, evaluate and interpret a considerable number of tax laws and
regulations, as well as any relevant interpretative materials, which in turn
involve the use of estimates, the interpretation of indeterminate legal
concepts and the determination of appropriate valuations in order to comply
with the tax obligations of the Group. In particular, the preparation of the
Group's tax returns and the process for establishing tax provisions involve the
use of estimates and interpretations of tax laws and regulations, which are
complex and subject to review by the tax authorities. Any error or discrepancy
with tax authorities in any of the jurisdictions in which the Group operates
may give rise to prolonged administrative or judicial proceedings that may have
a material adverse effect on 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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition,
governments in different jurisdictions are in the search for new funding
sources, and they have recently focused on the financial sector. The Group's
presence in various jurisdictions increases its exposure to regulatory and
interpretative changes, which could, among other things, lead to (i) an
increase in the types of tax to which the Group is subject, including in
response to the demands of various political forces at the national and global
level, </font><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">(ii) changes in the
calculation of tax bases and exemptions therefrom, such as the proposal in
Spain to limit the exemption for dividends and capital gains from domestic and
foreign subsidiaries to 95%, which would mean that 5% of the dividends and
capital gains obtained by the Group companies in Spain would be subject to, and
not exempt from, corporate tax,</font><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">or (iii)</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> the creation of new
taxes, like the common financial transaction tax (&#8220;FTT&#8221;) in the proposed Tax
Directive for the Financial Transactions Tax of the European Commission (which
would tax the acquisitions of certain securities, including those issued by the
Group) and the Spanish FTT which came into effect in Spain in January 2021, may
have adverse effects on the business, financial condition and results of
operations of the Group.</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 compliance risks</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group, due to its
role in the economy and the nature of its activities, is singularly exposed to
certain compliance risks. In particular, the Group must comply with regulations
regarding customer conduct, market conduct, the prevention of money laundering and
the financing of terrorist activities, the protection of personal data, the
restrictions established by national or international sanctions programs and
anti-corruption laws (including the US Foreign Corrupt Practices Act of 1977
and the UK Bribery Act of 2010), the violations of which could lead to very
significant penalties. 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 directly or indirectly, through third parties,
deals 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></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">Generally, these regulations require banking entities to,
among other measures, use diligence measures to manage compliance risk.
Sometimes, banking entities must apply reinforced due diligence measures
because they understand that, due to the very nature of the activities they
carry out (among others, private banking, money transfer and foreign currency
exchange operations), they may present a higher risk of money laundering or
terrorist financing.</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;">Although the Group
has adopted policies, procedures, systems and other measures to manage
compliance risk, it is dependent on its employees and external suppliers for
the implementation of these policies, procedures, systems and other measures,
and it cannot guarantee that these are sufficient or that the employees (</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">123,174&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> as of December 31, 2020) or other persons of
the Group or its business partners, agents and/or other third parties with a
business or professional relationship with BBVA do not circumvent or violate
current regulations or BBVA&#8217;s ethics and compliance regulations, acts for which
such persons or the Group could be held ultimately responsible and/or that
could damage the Group's reputation. In particular, 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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Furthermore, the
Group may not be able to prevent third parties outside the Group from using the
banking network in order to launder money or carry out illegal or inappropriate
activities. Further, financial crimes continually evolve and emerging
technologies, such as cryptocurrencies and blockchain, could limit the Group's
ability to track the movement of funds. Additionally, in adverse economic
conditions, it is possible that financial crime attempts will increase
significantly.</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 there is a breach
of the applicable regulations or BBVA&#8217;s ethics and compliance regulations or if
the competent authorities consider that the Group does not perform the
necessary due diligence inherent to its activities, such authorities could
impose limitations on the Group's activities, the revocation of its
authorizations and licenses, and economic penalties, in addition to having
significant consequences for the Group's reputation, which could have a
significant adverse impact on the Group's business, financial condition and
results of operations. Furthermore, the Group from time to time conducts
investigations related to alleged violations of such regulations and BBVA&#8217;s
ethics and compliance regulations, and any such investigation or any related
procedure could be time consuming and costly, and its results difficult to predict.</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, in 2020 the
COVID-19 outbreak has led in many countries to new specific regulations, mainly
focused on consumer protection measures. The difficulties associated with the
need to adapt the Group&#8217;s systems to these new regulations quickly along with
the fact that the majority of BBVA&#8217;s employees have been working remotely could
pose new compliance risks. Likewise, despite the existing controls in place,
the increase in remote account opening driven by the pandemic could increase
money laundering risks. Additionally, criminals are continuing to exploit the
opportunities created by the pandemic across the globe and increased money
laundering risks associated with counterfeiting of medical goods, investment
fraud, cyber-crime scams and exploitation of economic stimulus measures put in
place by governments. Increased strain on our communications surveillance
frameworks could in turn raise our market conduct risk. </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&#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:17.85pt;"><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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">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:17.85pt;"><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. </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;">OPERATIONAL RISKS </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;">Attacks, failures or deficiencies in the Group's
procedures, systems and security or those of third parties to which the Group
is exposed could have a significant adverse impact on the Group's business,
financial condition and results of operations, and could be detrimental for its
reputation</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group's
activities depend to a large extent on its ability to process and report
effectively and accurately on a high volume of highly complex transactions with
numerous and diverse products and services (by their nature, generally
ephemeral), in different currencies and subject to different regulatory
regimes. Therefore, it relies on highly sophisticated information technology (&#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 for data transmission, processing and storage. However, IT systems are
vulnerable to various problems, such as hardware and software malfunctions,
computer viruses, hacking, and physical damage to IT centers. BBVA's exposure
to these risks has increased significantly in recent years due to the Group's
implementation of its ambitious digital strategy. According to data as of
December 31, 2020, 63% of the Group&#8217;s customers are digital and 59% of
customers regularly use their mobile phones to interact with BBVA, and digital
sales represent 63.6% of total sales. BBVA already has more than 500,000
customers registered exclusively through digital channels in Spain, of which
more than 50% did so via mobile. These digital services, as well as other
alternatives that BBVA offers users to become BBVA customers, have become even
more important after the COVID-19 outbreak and the ensuing restrictions on
mobility in the countries in which the Group operates. Currently, one in three
new clients chooses digital channels to start their relationship with BBVA. Any
attack, failure or deficiency in the Group's systems could, among other things,
lead to the misappropriation of funds of the Group's clients or the Group
itself and the unauthorized disclosure, destruction or use of confidential
information, as well as preventing the normal operation of the Group, and
impair its ability to provide services and carry out its internal management.
In addition, any attack, failure or deficiency could result in the loss of
customers and business opportunities, damage to computers and systems,
violation of regulations regarding data protection and/or other regulations,
exposure to litigation, fines, sanctions or interventions, loss of confidence
in the Group's security measures, damage to its reputation, reimbursements and
compensation, and additional regulatory compliance expenses and could have a
significant adverse impact on the Group's business, financial condition and
results of operations. Furthermore, it is possible that such attacks, failures
or deficiencies will not be detected on time or ever. The Group is likely to be
forced to spend significant additional resources to improve its security
measures in the future. As cyber-attacks are becoming increasingly
sophisticated and difficult to prevent, the Group may not be able to anticipate
or prevent all possible vulnerabilities, nor to implement preventive measures
that are effective or sufficient. </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;">Customers and other
third parties to which the Group is significantly exposed, including the
Group's service providers (such as data processing companies to which the Group
has outsourced certain services), face similar risks. Any attack, failure or
deficiency that may affect such third parties could, among other things,
adversely affect the Group's ability to carry out operations or provide
services to its clients or result in the unauthorized disclosure, destruction
or use of confidential information. Furthermore, the Group may not be aware of
such attack, failure or deficiency in time, which could limit its ability to
react. Moreover, as a result of the increasing consolidation, interdependence
and complexity of financial institutions and technological systems, an attack,
failure or deficiency that significantly degrades, eliminates or compromises
the systems or data of one or more financial institutions could have a
significant impact on its counterparts or other market participants, including
the Group.</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><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:10.0pt;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;">&nbsp;</font></b></font></p>

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<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:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:7.1pt;"><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. There
were no significant capital expenditures in the years ended December 31, 2020,
2019 and 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:auto;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 divestitures in our subsidiaries and affiliates. The main
divestitures from 2018 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;">2020</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%;">Agreement for the sale of BBVA USA Bancshares, Inc.</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:9.0pt;text-align:justify;text-indent:9.35pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On
November 15, 2020, BBVA reached an agreement with The PNC Financial Services
Group, Inc. for the sale of 100% of the share capital in its subsidiary BBVA
USA Bancshares, Inc., which in turn owns 100% of the share capital in BBVA USA,
as well as other companies of the BBVA Group in the United States with
activities related to this banking business, for approximately $11.6 billion
(approximately equivalent to &#8364;9.7 billion), to be paid in cash (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">USA
Sale</font></b><font color=black 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:9.0pt;text-align:justify;text-indent:9.35pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The scope
of the USA Sale does not include BBVA Securities Inc. (the Group&#8217;s
broker-dealer in the United States), the Group&#8217;s stake in Propel Venture
Partners US Fund I, L.P. and BBVA Processing Services, Inc. (together, the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Excluded
Business</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). Prior to the closing of the USA Sale, the Excluded Business
will be transferred by BBVA USA Bancshares, Inc. to entities of the BBVA Group.
In addition, BBVA will continue to develop the wholesale business that it
currently carries out through its branch in New York.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:9.0pt;text-align:justify;text-indent:9.35pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">It is
expected that the USA Sale will result in an increase in BBVA Group&#8217;s CET1
(fully loaded) ratio of approximately 294 basis points. In addition, we expect
to recognize profit net of taxes of approximately &#8364;580 million (based on an
exchange rate of $1.20 per euro) for the companies included within the scope of
the USA Sale from the date of the agreement through the date on which closing
is expected to take place. Of this amount, approximately &#8364;300 million has
already been recognized in the consolidated statement of income for the year
ended December 31, 2020.</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, of the expected impact on the BBVA Group&#8217;s
CET1 (fully loaded) ratio, an increase of approximately 9 basis points had
already been recognized as of December 31, 2020.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:9.35pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
closing of the USA Sale is subject to obtaining the relevant regulatory authorizations
from the competent authorities. It is expected that the closing of the USA Sale
may take place in mid-2021.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:9.35pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For
additional information, s</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ee &#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;Sale of BBVA USA to The PNC
Financial Services Group&#8221;.</font></i></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%;">Agreement for the alliance with Allianz, Compa&#241;&#237;a de Seguros y
Reaseguros, S.A.</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On April
27, 2020, BBVA reached an agreement with Allianz, Compa&#241;&#237;a de Seguros y
Reaseguros, S.A. to create a bancassurance joint venture in Spain including a
long-term exclusive distribution agreement for the sale of non-life insurance
products, excluding the health insurance&nbsp;business, through BBVA&#8217;s branch
network in Spain. </font></font></p>


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


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On
December 14, 2020, after obtaining the relevant regulatory approvals from the
competent authorities, BBVA Seguros, S.A. de Seguros y Reaseguros (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA
Seguros</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) transferred to Allianz, Compa&#241;&#237;a de Seguros y Reaseguros, S.A.,
50% of the share capital plus one share in BBVA Allianz Seguros y Reaseguros,
S.A. (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Seguros Generales</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). BBVA Seguros received a cash payment of
&#8364;274 million. Prior to that, BBVA transferred its non-life insurance business
in Spain, excluding the health insurance business, to BBVA Seguros
Generales.&nbsp;</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:12.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Allianz, Compa&#241;&#237;a de Seguros y
Reaseguros, S.A. may need to make an additional payment to BBVA of up to &#8364;100
million if certain business goals and milestones are met. This transaction has
resulted in a profit net of taxes of &#8364;304 million and has increased the Group&#8217;s
CET1 (fully loaded) ratio by 7 basis points as of December 31, 2020. </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;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></b></font></p>

<p style="border:none;margin-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:normal;">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;">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;">BBVA Paraguay</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). The sale closed on
January 22, 2021 and BBVA received approximately </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">$</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">250
million (approximately &#8364;210 million) in cash. The transaction resulted in a
loss of approximately &#8364;9 million net of taxes and is estimated to increase the
Group&#8217;s CET1 (fully loaded) ratio by approximately 6 basis points in the first
quarter of 2021.</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, which were contributed in
several subsequent transfers, being the last one in May 2020) 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;">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 CET1 (fully loaded).</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 above transaction
is referred to as the &#8220;Cerberus Transaction&#8221; in this Annual Report.</font></font></p>


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<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
CET1 (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><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:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;">&nbsp;</h2>
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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">28</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: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;">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 2020, the number of digital and mobile customers and the volume
of digital sales continued to increase. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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, 2020, the structure of the
operating segments used by the BBVA Group for management purposes remained the
same as in 2019. However, the BBVA Group has reached agreements which may
affect the structure of the Group&#8217;s operating segments in the future.</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:17.85pt;margin-right:0cm;margin-top:0cm;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;">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>

<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;&#8212;History and Development of the Company&#8212;Capital
Divestitures&#8212;2018&#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;">For certain relevant information concerning the
preparation and presentation of the financial information included in this
Annual Report, see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation of Financial Information</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

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


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">29</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 breakdown of the Group&#8217;s total assets by
each of BBVA&#8217;s operating segments and the Corporate Center as of December 31,
2020, 2019 and 2018 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;">2020</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;">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>
 </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;">405,878</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;">364,427</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;">353,923</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 (1)</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;">93,953</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;">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>
 </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;">110,224</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;">109,079</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;">97,432</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;">59,585</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;">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>
 </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;">55,435</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;">54,996</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>
 </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;">22,881</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;">23,257</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;">18,845</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;">747,957</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;">704,703</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;">672,880</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 (2)</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;">(11,781)</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(6,967)</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;">2,796</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;">736,176</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;">697,737</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;">675,675</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;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)</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;">&#8364;83,257
million as of December 31, 2020 relates to BBVA USA and the other companies
falling within the scope of the USA Sale (see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8220;Item 10. Additional
Information&#8212;Material Contracts&#8212;Sale of BBVA USA to The PNC Financial Services
Group&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">) and is recorded as &#8220;Non-current assets and disposal groups
classified as held for sale&#8221; in the consolidated balance sheet as of December
31, 2020 (see Note 21 to our Consolidated Financial Statements).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;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;">(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;">Includes
balance sheet intra-group adjustments between the Corporate Center and the
operating segments. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8220;Presentation of Financial Information&#8212;Intra-group
reallocations&#8221;.</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&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, 2020, 2019 and 2018. Such information is presented
under management criteria. For information on the differences between the Group
income statement and the income statement calculated in accordance with management
operating segment reporting criteria, 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;Operating Results&#8212;Results of Operations by Operating
Segment</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 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 style="border:none;margin:0cm;margin-bottom:.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/(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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><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;">2020</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;">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=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;">2020</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>
 </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;">606</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;">1,386</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=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>
 <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>
 </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 (1)</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;">429</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;">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=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;">11</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>
 </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;">1,759</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;">2,699</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=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;">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>
 </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;">563</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;">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=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;">14</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>
 </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;">446</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;">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=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;">11</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>
 </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;">137</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;">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=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;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">3,940</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;">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=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;">(2,635)</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;">(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=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;">1,305</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;">3,512</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=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>



<p style="border:none;margin-bottom:6.0pt;margin-left:35.85pt;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)</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;">Includes the
results of BBVA USA and the other companies falling within the scope of the USA
Sale (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Item 10. Additional Information&#8212;Material Contracts&#8212;Sale of BBVA
USA to The PNC Financial Services Group</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8221;).&nbsp;</font></font></p>

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


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">30</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_36"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


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


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table
sets forth certain summarized information relating to the income of each
operating segment and the Corporate Center for the years ended December 31,
2020, 2019 and 2018. Such information is presented under management criteria.
For information on the differences between the Group income statement and the income
statement calculated in accordance with management operating segment reporting
criteria, 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;Operating Results&#8212;Results of Operations by Operating Segment</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 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
  (1)</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 (2)</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;">2020</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;">3,553</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;">2,284</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;">5,415</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;">2,783</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;">2,701</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;">214</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;">(149)</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;">16,801</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;">5,554</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;">3,152</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;">7,017</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;">3,573</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;">3,225</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;">510</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;">(57)</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;">22,974</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 (3)</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;">2,515</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;">1,281</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;">4,677</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;">2,544</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;">1,853</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;">225</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;">(876)</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;">12,219</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;">809</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;">502</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;">2,472</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;">1,522</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;">896</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;">184</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;">(2,810)</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;">3,576</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 /(loss) 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;">606</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;">429</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;">1,759</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;">563</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;">446</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;">137</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;">(2,635)</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;">1,305</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;">2019</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;">3,567</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;">2,395</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;">6,209</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;">2,814</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;">3,196</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;">(233)</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;">18,124</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;">5,656</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;">3,223</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;">8,029</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;">3,590</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;">3,850</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;">454</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;">(339)</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;">24,463</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 (3)</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;">2,402</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;">1,257</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;">5,384</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;">2,375</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;">2,276</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;">161</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;">(1,294)</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;">12,561</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;">1,878</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;">705</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;">3,691</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;">1,341</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;">1,396</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;">163</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;">(2,775)</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;">6,397</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 /(loss) 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: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;">2018</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;">3,618</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;">2,276</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;">5,568</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;">3,135</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;">3,009</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;">175</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;">(269)</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;">17,511</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;">5,888</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;">2,989</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;">7,193</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;">3,901</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;">3,701</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;">414</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;">(420)</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;">23,667</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 (3)</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;">2,554</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;">11,965</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;">1,840</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: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 /(loss) 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;">1,400</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;">736</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;">2,367</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;">567</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;">578</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;">96</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;">(343)</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;">5,400</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: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)</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;">Includes the
results of BBVA USA and the other companies falling within the scope of the USA
Sale (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Item 10. Additional Information&#8212;Material Contracts&#8212;Sale of BBVA
USA to The PNC Financial Services Group</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: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;">For information on the
reconciliation of the income statement of our operating segments and Corporate
Center to the consolidated income statement of the Group, 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;Operating Results&#8212;Results of
Operations by Operating Segment</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: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;">(3)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size: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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;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%;">31</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_37"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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:0cm;"><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, 2020, 2019 and 2018:</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,
  2020</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
  (1)</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 (2)</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;">405,878</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;">93,953</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;">110,224</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;">59,585</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;">55,435</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;">22,881</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;">747,957</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;">(11,781)</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;">38,360</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;">17,260</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;">9,159</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;">5,477</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;">7,126</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;">285</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;">77,667</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;">(364)</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 (3)</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;">137,969</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;">6,792</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;">36,360</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;">5,332</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;">7,329</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;">492</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;">194,274</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;">(4,452)</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;">198,173</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;">66,933</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;">59,814</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;">46,705</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;">38,549</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;">21,839</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;">432,014</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;">(1,754)</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;">167,998</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;">57,983</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;">50,002</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;">37,295</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;">33,615</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;">18,908</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;">365,801</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;">(796)</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td 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;"><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: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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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:9.0pt;">&nbsp;</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: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;">Residential mortgages</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;">71,530</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;">12,465</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;">9,890</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;">2,349</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;">6,252</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;">1,436</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;">103,923</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: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;">Consumer finance</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;">11,820</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;">4,633</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;">7,025</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;">5,626</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;">6,773</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;">497</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;">36,373</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: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</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;">5,859</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;">1,153</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;">1,629</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;">630</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;">974</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;">183</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;">10,427</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: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;">Credit cards</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;">2,087</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;">700</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;">4,682</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;">3,259</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;">2,008</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;">7</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;">12,744</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: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 to enterprises</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;">61,748</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;">33,975</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;">22,549</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;">24,597</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;">16,392</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;">16,011</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;">175,273</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: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 to public sector</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;">12,468</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;">4,860</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;">4,670</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;">178</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;">1,319</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;">773</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;">24,267</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: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;">395,422</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;">90,317</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;">104,888</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;">57,050</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;">53,283</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;">22,003</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;">722,963</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;">(36,807)</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;">73,921</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;">952</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;">23,801</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;">2,336</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;">1,326</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;">46</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;">102,382</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;">(5,746)</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;">206,428</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;">69,923</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;">54,052</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;">39,353</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;">36,874</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;">4,578</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;">411,208</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;">(2,086)</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;"><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: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 valign=bottom width=9% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=29% style="height:24.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><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: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;">174,789</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;">61,354</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;">43,460</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;">20,075</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;">25,847</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;">3,481</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;">329,008</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=29% style="height:24.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><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: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;">31,019</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;">8,571</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;">10,315</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;">19,270</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;">11,038</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;">1,097</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;">81,310</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% 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: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;">10,457</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;">3,636</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;">5,336</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;">2,535</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;">2,152</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;">879</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;">24,995</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;">25,025</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;">62,707</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;">22,524</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;">3,425</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;">13,722</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;">569</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;">102,947</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;">38,434</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;">20,660</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;">1,087</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;">4,687</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;">64,869</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;">24,273</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;">2,337</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;">9,035</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;">569</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;">36,215</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;">1,863</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;">1,863</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:35.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(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;">Includes the
respective amounts for BBVA USA and the other companies falling within the
scope of the USA Sale (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Item 10. Additional Information&#8212;Material
Contracts&#8212;Sale of BBVA USA to The PNC Financial Services Group</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:6.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(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;">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&#8212;Intra-group
reallocations</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8221;) and the reclassification of assets and liabilities of BBVA
USA and the other companies falling within the scope of the USA Sale to
&#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;,
respectively, in the consolidated balance sheet of the BBVA Group.</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:8.0pt;">See Note 21 to our Consolidated Financial
Statements.</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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3)</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;">Financial
assets designated at fair value includes: &#8220;Financial assets held for trading&#8221;,
&#8220;Non-trading financial assets mandatorily at fair value through profit or
loss&#8221;, &#8220;Financial assets designated at fair value through profit or loss&#8221; and
&#8220;Financial assets at fair value through other comprehensive income&#8221;.</font></font></p>

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

<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: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%;">32</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_38"></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,
  2019</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
  (1)</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 (2)</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;">364,427</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;">88,529</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;">109,079</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;">64,416</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;">54,996</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;">23,257</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;">704,703</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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;">(6,967)</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;">15,903</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;">8,293</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;">6,489</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;">5,486</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;">8,601</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;">247</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;">45,019</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;">(716)</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 (3)</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;">121,890</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;">7,659</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;">31,402</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;">5,268</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;">6,120</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;">477</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;">172,817</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;">(3,128)</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;">195,260</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;">69,510</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;">66,180</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;">51,285</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;">37,869</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;">22,233</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;">442,336</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;">(3,174)</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;">167,332</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;">63,162</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;">58,081</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;">40,500</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;">35,701</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;">19,669</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;">384,445</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;">(2,085)</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;"><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: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=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;"><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: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=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;"><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: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=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=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;">Residential mortgages</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;">73,871</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;">14,160</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;">10,786</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;">2,928</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;">7,168</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;">1,624</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;">110,534</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>
<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;">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=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;">38,904</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>
<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</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;">5,586</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;">1,213</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;">1,802</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;">635</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;">1,074</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;">195</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;">10,505</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>
<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;">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=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;">14,929</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>
<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 to enterprises</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;">57,194</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;">36,346</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;">24,778</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;">26,552</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;">16,251</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;">16,716</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;">177,836</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>
<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 to public sector</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;">13,886</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;">5,373</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;">6,819</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;">107</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;">1,368</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;">667</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;">28,220</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>
<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;">355,198</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;">84,686</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;">104,190</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;">61,744</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;">52,504</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;">22,393</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;">680,714</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;">(37,902)</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;">77,731</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=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;">103,898</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: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;">182,370</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;">67,525</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;">55,934</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;">41,335</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;">36,104</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;">4,708</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;">387,976</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;">(3,757)</font></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td valign=bottom width=28% 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;"><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:17.25pt;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 valign=bottom width=9% style="height:17.25pt;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 valign=bottom width=8% style="height:17.25pt;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 valign=bottom width=8% style="height:17.25pt;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 valign=bottom width=8% style="height:17.25pt;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 valign=bottom width=9% style="height:17.25pt;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 valign=bottom width=10% style="height:17.25pt;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 valign=bottom width=11% style="background:white;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:16.5pt;">
  <td valign=bottom width=28% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Demand and savings deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">150,917</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">53,001</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">42,959</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">15,737</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">22,682</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,292</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">288,588</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=28% style="height:19.5pt;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;">Time deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><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:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><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:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,372</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><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:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">13,441</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><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=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">98,797</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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 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;">9,229</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;">3,843</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;">4,889</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;">2,672</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;">2,492</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;">864</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;">23,989</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;">30,936</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;">66,068</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;">24,464</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;">3,906</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;">12,864</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;">500</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;">107,803</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;">41,390</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;">21,929</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;">1,460</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;">3,860</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;">68,639</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;">24,678</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;">2,446</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;">9,005</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;">500</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;">36,630</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;">-</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;">2,534</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;">2,534</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:35.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(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;">Includes the
respective amounts for BBVA USA and the other companies falling within the
scope of the USA Sale (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Item 10. Additional Information&#8212;Material
Contracts&#8212;Sale of BBVA USA to The PNC Financial Services Group</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:6.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(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;">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&#8212;Intra-group
reallocations</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:6.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3)</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;">Financial
assets designated at fair value includes: &#8220;Financial assets held for trading&#8221;,
&#8220;Non-trading financial assets mandatorily at fair value through profit or
loss&#8221;, &#8220;Financial assets designated at fair value through profit or loss&#8221; and
&#8220;Financial assets at fair value through other comprehensive income&#8221;.</font></font></p>

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

<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 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%;">33</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_4B1D.3" style="border-collapse:collapse;width:100%;">
 <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 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=74% 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,
  2018 </font></b></font></p>
  </td>
 </tr>
<tr style="height:50.25pt;">
  <td valign=bottom width=26% style="height:50.25pt;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 valign=bottom width=10% style="border:none;border-bottom:solid black 1.0pt;height:50.25pt;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 valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:50.25pt;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 valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:50.25pt;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 valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:50.25pt;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 valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:50.25pt;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 valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:50.25pt;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 valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:50.25pt;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 Operating
  Segments</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="background:white;border:none;border-bottom:solid black 1.0pt;height:50.25pt;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
  and&#160; Adjustments (1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=26% 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=74% 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=26% 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=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;">353,923</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;">82,057</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;">97,432</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;">66,250</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;">54,373</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;">18,845</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;">672,880</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">2,796</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=26% 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;">Cash, cash balances at central banks and other
  demand deposits</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;">28,545</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;">4,835</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;">8,274</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;">7,853</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;">8,987</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;">238</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;">58,732</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">(536)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom 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 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 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;">106,307</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;">10,481</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=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">154,454</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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=26% 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=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;">195,457</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;">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=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">17,809</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;">421,477</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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:15.0pt;">
  <td valign=bottom width=26% 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=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;">170,427</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;">60,808</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;">51,101</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;">41,478</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;">34,469</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;">16,609</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;">374,893</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">(867)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=26% 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 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:9.0pt;">&nbsp;</font></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;"><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: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=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;"><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: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=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;"><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: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=14% 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=26% 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=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;">76,388</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;">13,961</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;">9,197</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;">3,530</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;">6,629</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;">1,821</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;">111,526</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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=26% 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=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;">9,665</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;">5,353</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;">7,347</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;">5,265</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;">6,900</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;">410</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;">34,940</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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=26% 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=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;">5,564</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;">1,086</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;">1,766</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;">570</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;">955</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;">212</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;">10,153</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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=26% 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=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;">2,083</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;">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=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=14% 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=26% 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=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;">57,306</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;">34,264</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;">22,553</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;">27,657</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;">16,897</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;">13,685</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;">172,362</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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=26% 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=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;">15,379</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;">5,400</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;">5,726</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;">95</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;">1,078</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">414</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;">28,093</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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 nowrap valign=bottom 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 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=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;">345,215</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;">78,675</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;">93,291</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;">63,721</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;">52,019</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;">18,126</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;">651,046</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">(28,245)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=26% 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=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;">70,020</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;">234</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;">18,028</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;">1,852</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;">1,357</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;">42</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;">91,532</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">(4,778)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom 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 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=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;">183,413</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;">63,891</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;">50,530</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;">39,905</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;">35,842</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;">4,876</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;">378,456</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">(2,486)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=26% 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=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=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;"><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: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=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;"><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: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=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;"><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: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=14% 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=26% 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=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;">142,912</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;">47,031</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;">38,167</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;">12,530</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;">23,195</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;">3,544</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;">267,379</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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=26% 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=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;">40,072</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;">16,857</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;">11,573</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;">27,367</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;">12,817</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;">1,333</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;">110,018</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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 nowrap valign=bottom 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 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=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;">8,708</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;">3,383</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;">4,140</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;">2,529</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;">2,355</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;">719</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;">21,834</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">31,041</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=26% 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=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;">62,559</font></b></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;"><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="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;">20,647</font></b></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;"><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=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;">11,662</font></b></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;"><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=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;">98,150</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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=26% 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=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;">39,250</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;">-</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;">17,733</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;">669</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;">3,741</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;">-</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;">61,393</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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=26% 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=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;">23,274</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;">-</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;">-</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;">2,225</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;">7,921</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;">388</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;">33,807</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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=bottom width=26% 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=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;">35</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;">-</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;">2,914</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;">-</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=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;">-</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;">2,949</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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>
</table></div>



<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 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;">Includes
balance sheet intra-group adjustments between the Corporate Center and the
operating segments (see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8220;Presentation of Financial Information&#8212;Intra-group
reallocations</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:6.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(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;">Financial
assets designated at fair value includes: &#8220;Financial assets held for trading&#8221;,
&#8220;Non-trading financial assets mandatorily at fair value through profit or
loss&#8221;, &#8220;Financial assets designated at fair value through profit or loss&#8221; and
&#8220;Financial assets at fair value through other comprehensive income&#8221;.</font></font></p>


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


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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;">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;">&#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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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;">: 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;">&#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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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;">: which manages
small and medium sized enterprises (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SMEs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), companies and corporations
and public institutions;</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;">&#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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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;">:
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:10.0pt;margin-left:36.0pt;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:10.0pt;">&#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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other units</font></i></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">: which includes the insurance business unit in
Spain (BBVA Seguros) as well as the Group&#8217;s shareholding in the bancassurance
joint venture with Allianz, Compa&#241;&#237;a de Seguros y Reaseguros, S.A.</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> (see </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8212;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">History and Development of the Company&#8213;Capital
Divestiture</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;">s&#8212;2020</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;">&#8221;)</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, the Asset Management unit (which manages Spanish mutual
funds and pension funds), lending to real estate developers and foreclosed real
estate assets in Spain, 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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Cash, cash balances at central banks and other demand
deposits amounted to &#8364;38,360 million as of December 31, 2020 compared with the
&#8364;15,903 million recorded as of December 31, 2019, mainly due to an increase in
cash held at the Bank of Spain, with a view to reinforcing the Group&#8217;s cash
position in light of the COVID-19 pandemic. See &#8220;Item 5. Operating and
Financial Review and Prospects&#8213;Operating Results&#8213;Factors Affecting
the Comparability of our Results of Operations and Financial
Condition&#8213;The COVID-19 Pandemic&#8221; for certain information on the impact of
the COVID-19 pandemic on the Group.</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;)
amounted to &#8364;137,969 million as of December 31, 2020, a 13.2% increase from the
&#8364;121,890 million recorded as of December 31, 2019, mainly as a result of the
increase in </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">trading
derivatives recorded under &#8220;Financial assets held for trading&#8221; due to the
positive impact of changes in exchange rates on foreign currency positions and
the increase in sovereign debt securities recorded under the &#8220;Financial assets
at fair value through other comprehensive income&#8221;.</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;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, 2020 amounted to &#8364;198,173 million, a 1.5% increase
compared with the &#8364;195,260 million recorded as of December 31, 2019. Within
this heading, loans and advances to customers amounted to &#8364;167,998 million as
of December 31, 2020, an increase of 0.4% from the &#8364;167,332 million recorded as
of December 31, 2019, mainly as a result of the increase in SMEs and corporate
banking credit on the back of the measures implemented by the Spanish
government in light of the COVID-19 pandemic, and increased drawdowns under
credit facilities especially in the first quarter, partially offset by the
decrease in mortgage 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, 2020 amounted to &#8364;73,921 million, a 4.9% decrease compared with
the &#8364;77,731 million recorded as of December 31, 2019, mainly due to a decrease
in deposits from credit institutions, partially offset by the positive impact
of changes in exchange rate derivatives on foreign currency positions.</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, 2020 amounted to &#8364;206,428 million, a 13.2%
increase compared with the &#8364;182,370 million recorded as of December 31, 2019
mainly due to the increase in demand deposits within the retail portfolio, as a
result of the shift from consumption to savings due to the COVID-19 pandemic.</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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Off-balance sheet funds of this
operating segment (which includes &#8220;Mutual funds&#8221; and &#8220;Pension funds&#8221;) as of</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> December 31</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, 2020
amounted to &#8364;62,707 million, a 5.1% decrease compared with the &#8364;66,068 million
as of December 31, 2019, mainly due to the increased volatility and decline in
market prices during the period and the resulting shift towards 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:.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 4.3% as of December
31, 2020 from 4.4% as of December 31, 2019, mainly as a result of the increase
in retail, SMEs and corporate banking credit facilities on the back of the
measures implemented by the Spanish government in light of the COVID-19
pandemic, as well as the temporary moratoria and other relief measures adopted
to address the effects thereof. This operating segment&#8217;s non-performing loan
coverage ratio increased to 67% as of December 31, 2020 from 60% as of December
31, 2019, as a result mainly of higher loss allowances made in response to the
COVID-19 pandemic.</font></font></p>

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

<p style="border:none;margin: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;">This operating segment
includes the Group&#8217;s business in the United States. The Group&#8217;s activity in the
United States is mainly carried out through BBVA USA and other subsidiaries in
the United States with activities related to banking activity and which are
classified as discontinued operations (see &#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;Sale of BBVA USA to The PNC Financial Services
Group</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). It also includes Banco Bilbao Vizcaya Argentaria, S.A. New York
Branch,</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 Group&#8217;s stake in Propel Venture Partners, the business
developed through the Group&#8217;s broker-dealer BBVA Securities Inc. and a
representative office in Silicon Valley (California).</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;">BBVA USA accounted for 87.5% of this operating
segment&#8217;s balance sheet as of December 31, 2020. Given the importance of BBVA
USA in this segment, most of the comments below refer to BBVA USA.</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 depreciated 8.5% against the
euro as of December 31, 2020 compared with December 31, 2019, adversely
affecting the business activity of the United States operating segment as of
December 31, 2020 expressed in euros. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font></i><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 5.
Operating and Financial Review and Prospects&#8213;Operating
Results&#8213;Factors Affecting the Comparability of our Results of Operations
and Financial Condition</font></i><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Cash, cash balances at central banks
and other demand deposits amounted to &#8364;17,260 million as of December 31, 2020
compared with the &#8364;8,293 million recorded as of December 31, 2019, mainly due
to an increase in cash and cash equivalents with the Federal Reserve with a
view to reinforcing the Group&#8217;s cash position in light of the COVID-19
pandemic, offset in part by the depreciation of the U.S. dollar against the
euro. See &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 5. Operating and Financial Review and
Prospects&#8213;Operating Results&#8213;Factors Affecting the Comparability of
our Results of Operations and Financial Condition&#8213;The COVID-19 Pandemic&#8221; </font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">for
certain information on the impact of the COVID-19 pandemic on the Group.</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, 2020 amounted to &#8364;6,792 million, an
11.3% decrease from the &#8364;7,659 million recorded as of December 31, 2019, mainly
due to t</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">he depreciation of the U.S. dollar against
the euro and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> a fall in the volume of U.S. Treasury and other U.S.
government agencies securities and mortgage-backed 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 color=black style="border:none;"><font color=black 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, 2020 amounted to &#8364;66,933 million,
a 3.7% decrease compared with the &#8364;69,510 million recorded as of December 31,
2019. Within this heading, loans and advances to customers of this operating
segment as of December 31, 2020 amounted to &#8364;57,983 million, an 8.2% decrease
compared with the &#8364;63,162 million recorded as of December 31, 2019, mainly due
to the depreciation of the U.S. dollar against the euro, a reduction in consumer
activity, since </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">branches closed for
business for part of the year and </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the decrease in
consumer loans</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. The decrease was partially offset by the growth in loans
to enterprises (in local currency) and the growth in residential mortgage loans
in the fourth quarter of the year, on the back of measures implemented by the
U.S. government in light of the COVID-19 pandemic, including the Paycheck </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Protection Program (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PPP</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and the business loan
program established by the Coronavirus Aid, Relief, and Economic Security Act
(&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CARES Act</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) (which provides economic assistance to American workers,
families and businesses, and aims to preserve jobs), and increases in the
drawing down of credit facilities. </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, 2020 amounted to &#8364;69,923 million, a 3.6%
increase compared with the &#8364;67,525 million recorded as of December 31, 2019,
mainly due to </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">an increase in demand deposits
following the implementation of the PPP, as part of the funds that have been
provided to customers under such program have been invested as deposits, offset
in part by the depreciation of the U.S. dollar against the euro</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></font></p>


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


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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;">The non-performing
loan ratio of this operating segment as of December 31, 2020 jumped to 2.1%
from 1.1% as of December 31, 2019</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> mainly as a result
of the increase in non-performing loans in the Oil &amp; Gas sector and, to a
lesser extent, the Real Estate sector, as a result of the deteriorating
economic conditions and adverse sector dynamics. </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This operating
segment&#8217;s non-performing loan coverage ratio decreased to 84% as of December
31, 2020, from 101% as of December 31, 2019, mainly due to higher
non-performing loans and lower loss allowances. As loans becoming
non-performing in 2020 were generally collateralized, provision requirements
were lower than the stock.</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. It also
includes BBVA Mexico&#8217;s branch in Houston.</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 depreciated 13.1% against the
euro as of December 31, 2020 compared with December 31, 2019, adversely
affecting the business activity of the Mexico operating segment as of December
31, 2020 expressed in euros. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font></i><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 5.
Operating and Financial Review and Prospects&#8213;Operating
Results&#8213;Factors Affecting the Comparability of our Results of Operations
and Financial Condition&#8213;</font></i><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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;">Cash, cash balances at central banks and other
demand deposits amounted to &#8364;9,159 million as of December 31, 2020 compared
with the &#8364;6,489 million recorded as of December 31, 2019, mainly due to an
increase in cash and cash equivalents held at BANXICO (as defined herein), with
a view to reinforcing the Group&#8217;s cash position in light of the COVID-19
pandemic, offset in part by the depreciation of the Mexican peso against the
euro. 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&#8213;Operating Results&#8213;Factors Affecting the Comparability of
our Results of Operations and Financial Condition&#8213;The COVID-19 Pandemic&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
for certain information on the impact of the COVID-19 pandemic on the Group.</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, 2020 amounted to &#8364;36,360 million, a
15.8% increase from the &#8364;31,402 million recorded as of December 31, 2019,
mainly due to an increase in sovereign debt securities, offset in</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> part by the depreciation of the Mexican peso against the
euro</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: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, 2020 amounted to &#8364;59,814 million, a 9.6%
decrease compared with the &#8364;66,180 million recorded as of December 31, 2019.
Within this heading, loans and advances to customers of this operating segment
as of December 31, 2020 amounted to &#8364;50,002 million, a 13.9% decrease compared
with the &#8364;58,081 million recorded as of December 31, 2019, mainly as a result
of the depreciation of the Mexican peso against the euro and the decrease in
corporate loans and retail portfolios (mainly residential mortgages and
consumer finance), due to the adverse effect of the COVID-19 pandemic. These
effects were partially offset by the partial recovery of mortgage loans in the
second half of 2020.</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, 2020 amounted to &#8364;23,801 million, a 9.3% increase compared with
the &#8364;21,784 million recorded as of December 31, 2019, mainly as a result of
increases in government agency debt securities, </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">offset
in part by the depreciation of the Mexican peso against the euro. </font><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, 2020
amounted to &#8364;54,052 million, a 3.4% decrease compared with the &#8364;55,934 million
recorded as of December 31, 2019, primarily due to the depreciation 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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Off-balance sheet funds of this
operating segment (which includes &#8220;Mutual funds&#8221; and &#8220;Other placements&#8221;) as of
December 31, 2020 amounted to &#8364;22,524 million, a 7.9% decrease compared with
the &#8364;24,464 million as of December 31, 2019, mainly as a result of the
depreciation of the Mexican peso against the euro, partially offset by the
shift towards higher profitability investments such as private banking.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This
operating segment&#8217;s non-performing loan ratio increased to 3.3% as of December
31, 2020 from 2.4% as of December 31, 2019, mainly due to the increase in
non-performing loans from the retail portfolio during the fourth quarter of
2020, following the lifting of the moratoria measures adopted in response to
the COVID-19 pandemic. This operating segment&#8217;s non-performing loan coverage
ratio decreased to 122% as of December 31, 2020 from 136% as of December 31,
2019.</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 in
Turkey, 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 26.7% against the
euro as of December 31, 2020 compared to December 31, 2019, adversely affecting
the business activity of the Turkey operating segment as of December 31, 2020
expressed in euros. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 5. </font></i><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating and
Financial Review and Prospects&#8213;Operating Results&#8213;Factors Affecting
the Comparability of our Results of Operations and Financial Condition&#8213;</font></i><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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: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;">Cash, cash balances at central banks and other
demand deposits amounted to &#8364;5,477 million as of December 31, 2020 compared
with the &#8364;5,486 million recorded as of December 31, 2019, mainly due to the
depreciation of the Turkish lira against the euro. At constant exchange rates,
there was an increase in cash, cash balances at central banks and other demand
deposits as a result of the increase in cash and cash equivalents held at the </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Central Bank of the Republic of Turkey</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, with a view
to reinforcing the Group&#8217;s cash position in light of the COVID-19 pandemic. 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&#8213;Operating
Results&#8213;Factors Affecting the Comparability of our Results of Operations
and Financial Condition&#8213;The COVID-19 Pandemic&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> for certain
information on the impact of the COVID-19 pandemic on the Group.</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;">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, 2020
amounted to &#8364;5,332 million, a 1.2% increase from the &#8364;5,268 million recorded as
of December 31, 2019, mainly as a result of the increase in Turkish
lira-denominated corporate banking loans as a result of the recently launched
CGF-Credit Guarantee Fund, which is intended to support SMEs and entrepreneurs
and pursuant to which loans are provided with Turkish Treasury-backed credit
guarantees, partially offset by the depreciation of the Turkish lira 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, 2020 amounted to &#8364;46,705 million an 8.9% decrease
compared with the &#8364;51,285 million recorded as of December 31, 2019. Within this
heading, loans and advances to customers of this operating segment as of December
31, 2020 amounted to &#8364;37,295 million, a 7.9% decrease compared with the &#8364;40,500
million recorded as of December 31, 2019, mainly due to the depreciation of the
Turkish lira against the euro, offset, in part, by the increase (in local
currency) in loans denominated in Turkish lira and increases in the commercial
portfolio and in consumer loans (supported by the General Purpose Loans program
adopted by the Turkish government, which intends to mitigate the effects of the
COVID-19 pandemic).</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, 2020 amounted to &#8364;2,336 million, a 7.0% increase compared with the
&#8364;2,184 million recorded as of December 31, 2019, mainly due to the </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">increase in derivatives within the trading portfolio,
partially offset by the depreciation of the Turkish lira.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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, 2020 amounted to &#8364;39,353 million, a 4.8% decrease
compared with the &#8364;41,335 million recorded as of December 31, 2019</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, mainly due to the depreciation of
the Turkish lira against the euro, partially offset by the increase in demand deposits
and increasing demand for gold deposits.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Off-balance sheet funds of this
operating segment (which includes &#8220;Mutual funds&#8221; and &#8220;Pension funds&#8221;) as of</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> December 31</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, 2020
amounted to &#8364;3,425 million, a 12.3% decrease compared with the &#8364;3,906 million
as of December 31, 2019, mainly due to the depreciation of the Turkish lira
against the euro,</font><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;">partially offset by
increases in pension funds (in local currency).</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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: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 decreased to 6.6% as of December 31, 2020
from 7.0% as of December 31, 2019, as a result of the increase in loans denominated
in Turkish lira, increases in the commercial portfolio and in consumer loans </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(in local currency) and, to a lesser extent, increases in
write offs in the fourth quarter of 2020</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. This operating segment&#8217;s
non-performing loan coverage ratio increased to 80% as of December 31, 2020
from 75% as of December 31, 2019, mainly due to higher loss allowances made in
response to the COVID-19 pandemic and, to a lesser extent, certain specific
clients in the commercial portfolio.</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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The sale of BBVA Paraguay closed in January
2021. See </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8212;History and Development of the Company&#8212;Capital
Divestitures&#8212;2019&#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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2020</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, the
Argentine peso, the Colombian peso and the Peruvian sol depreciated against the
euro compared to December 31, 2019, by 34.8%, 12.6% and 16.3%, respectively. Changes
in exchanges rates have adversely affected the business activity of the South
America operating segment as of December 31, 2020 expressed in euros. See </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item
5. Operating and Financial Review and Prospects&#8213;Operating
Results&#8213;Factors Affecting the Comparability of our Results of Operations
and Financial Condition&#8213;Trends in Exchange Rates&#8221;.</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;">As of and for the
years ended December 31, 2020 and 2019, 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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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, 2020 amounted to &#8364;7,329 million, a
19.7% increase compared with the &#8364;6,120 million recorded as of December 31,
2019, attributable in part to the increase in the fair value of debt securities
issued by the Peruvian government held by the segment and increases in purchases
of debt securities issued by the Central Bank of the Argentine Republic (BCRA)
in Argentina in connection to the COVID-19 pandemic</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;">and
held by the segment. The increase was offset in part by the depreciation of the
currencies of the main countries where the BBVA Group operates within this
operating segment 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;">Financial assets at amortized cost of this
operating segment as of December 31, 2020 amounted to &#8364;38,549 million, a 1.8%
increase compared with the &#8364;37,869 million recorded as of December 31, 2019.</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;">Within this heading, loans and advances to customers of this operating
segment as of December 31, 2020 amounted to &#8364;33,615 million, a 5.8% decrease
compared with the &#8364;35,701 million recorded as of December 31, 2019, mainly as a
result of the depreciation of the currencies of the main countries where the
BBVA Group operates within this operating segment against the euro, partially
offset by the increase in wholesale loans, particularly in Peru (supported by
the &#8220;Reactiva Plan&#8221; adopted in response to the COVID-19 pandemic), the increase
in credit cards loans, in particular in Argentina, and increases in the retail
portfolio (in each case, in local currency). 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&#8213;Operating Results&#8213;Factors
Affecting the Comparability of our Results of Operations and Financial
Condition&#8213;The COVID-19 Pandemic</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; for certain information on the
impact of the COVID-19 pandemic in the region.</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;">Customer deposits at
amortized cost of this operating segment as of December 31, 2020 amounted to
&#8364;36,874 million, a 2.1% increase compared with the &#8364;36,104 million recorded as
of December 31, 2019, mainly as a result of</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> increases
in demand deposits due to the measures established by the respective central
banks in the region in order to inject liquidity into their economies (as part
of the funds provided thereunder have been invested as deposits), and the shift
from consumption to savings due to the COVID-19 pandemic, partially offset by
the depreciation of the currencies of the main countries where the BBVA Group
operates within this operating segment against the 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:0cm;margin-bottom:10.0pt;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;">Off-balance sheet funds of this operating segment (which
includes &#8220;Mutual funds&#8221; and &#8220;Pension funds&#8221;) as of December 31, 2020 amounted
to &#8364;13,722 million, a 6.7% increase compared with the &#8364;12,864 million as of
December 31, 2019, mainly due to the recovery in mutual funds, after the
temporary outflow of resources due to market instability, during the second
half of 2020, partially offset by the depreciation of the currencies of the
main countries where the BBVA Group operates within this operating segment
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;">The non-performing loan ratio of this operating
segment as of December 31, 2020 and 2019 stood at 4.4%. The non-performing loan
ratio as of December 31, 2020 was positively affected by the temporary
moratoria and other relief measures adopted to address the effects of the
COVID-19 pandemic. This operating segment&#8217;s non-performing loan coverage ratio
increased to 110% as of December 31, 2020, from 100% as of December 31, 2019,</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;mainly due to an increase in the balance of
provisions in Colombia and Peru in response to the COVID-19 pandemic.</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 included 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 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, 2020
amounted to &#8364;492 million, a 3.0% increase compared with the &#8364;477 million
recorded as of December 31, 2019.</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, 2020 amounted to &#8364;21,839
million, a 1.8% decrease compared with the &#8364;22,233 million recorded as of December
31, 2019. Within this heading, loans and advances to customers of this
operating segment as of December 31, 2020 amounted to &#8364;18,908 million, a 3.9%
decrease compared with the &#8364;19,669 million recorded as of December 31, 2019.</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, 2020 amounted to &#8364;4,578
million, a 2.8% decrease compared with the &#8364;4,708 million recorded as of December
31, 2019.</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;">Pension funds in this
operating segment as of December 31, 2020 amounted to &#8364;569 million, a 13.8% increase
compared with the &#8364;500 million recorded as of December 31, 2019, mainly due to
increased sales of a multi-strategic product launched in 2019.</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, 2020 decreased to 1.1% from
1.2% as of December 31, 2019. This operating segment&#8217;s non-performing loan
coverage ratio increased to 100% as of December 31, 2020, from 98% as of December
31, 2019.</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;">On
April 27, 2020, BBVA reached an agreement with Allianz, Compa&#241;&#237;a de Seguros y
Reaseguros, S.A. to create a bancassurance joint venture in order to develop
the non-life insurance business in Spain, </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">excluding
the health insurance&nbsp;business</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. On December 14, 2020, once the
required authorizations had been obtained, BBVA completed the transaction and
announced the transfer to Allianz, Compa&#241;&#237;a de Seguros y Reaseguros, S.A. of
half plus one share of the company BBVA Allianz Seguros y Reaseguros, S.A. (see
Note 3 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
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>


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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;">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: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;">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;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 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;)
at the European level and the Bank of Spain at the national level, both authorities
being part of the Single Supervisory Mechanism (</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;SSM&#8221;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">). 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 prior
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>

<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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">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 prior 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 prior 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;">Principal Markets</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;">Spain&#8212;</font></i><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 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;&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><a name=fob9te></a><a name="fob9te_bclEnd"></a></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 the aftermath of
the prior 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Due to the COVID-19
pandemic crisis, the EBA postponed the scheduled 2020 stress test by one year.
This was one of the several measures taken by the regulators and supervisors in
Europe in order to provide relief for banks at the operational, capital and
liquidity levels. The ECB also issued a recommendation stating that banks under
its direct supervision should not distribute capital in the form of dividends
and share buybacks during 2020, and should refrain from making variable </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">discretionary remuneration</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> payments in order to
preserve their capital position and lending capacity. On July 27, 2020, the ECB
prolonged this recommendation until January 1, 2021. </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On
December 15, 2020 the ECB issued recommendation ECB/2020/62, repealing its
recommendation of July, and recommending that significant credit institutions
(which would include the Group) exercise extreme prudence when deciding on or
paying out dividends or carrying out share buy-backs aimed at remunerating shareholders.
For additional information, see &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Dividends&#8221;.&nbsp;</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;">Given that there was
no EU-wide stress test during 2020, the ECB performed a vulnerability
assessment in order to assess the early impact of the crisis within the SSM
banking sector. This assessment focused on two different economic scenarios, a
central scenario (the most likely to materialize according to ECB staff) and a
severe scenario. The ECB published its findings at an aggregate level in July
2020 and concluded that the banking sector was generally well capitalized and
capable of handling the fallout of the crisis from a solvency perspective;
however, it also expressed that if the situation were to worsen, the depletion
of bank capital would be material.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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 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 prior 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>

<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 (EC) 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;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;">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, amending Directive 2002/87/EC, and repealing Directives
2006/48/EC and 2006/49/EC (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 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, with certain
requirements being phased in until January 1, 2019. The core regulation
regarding the solvency of credit institutions is Regulation (EU) No. 575/2013 of
the European Parliament and of the Council of June 26, 2013 on prudential
requirements for credit institutions and investment firms, and amending
Regulation (EU) No. 648/2012 (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 I</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; 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 29, 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 (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Bank of Spain Circular 2/2016</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).&nbsp;</font></font></p>


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


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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;"><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 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 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:36.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-29.75pt;"><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;&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;">Directive 2019/878/EU of the European Parliament and of the
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;line-height:normal;">CRD V Directive</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#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;line-height:normal;">CRD Directive</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;); &nbsp;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:36.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-29.75pt;"><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;&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;">Directive 2019/879/EU 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;line-height:normal;">BRRD II</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#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;line-height:normal;">BRRD</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;);&nbsp;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:36.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-29.75pt;"><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;&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;">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;line-height:normal;">CRR II</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221; and, together with the CRD V Directive, &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">CRD V</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;)
amending, among other things, CRR I as regards the leverage ratio, the net
stable funding ratio, requirements on 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,
superseded or supplemented from time to time, the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">CRR</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;); and</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:36.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-29.75pt;"><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;&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;">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 &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">SRM Regulation II</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;) amending Regulation (EU) No. 806/2014 of
the European Parliament and of the Council of July 15, 2014 establishing
uniform rules and a uniform procedure for the resolution of credit institutions
and certain investment firms in the framework of a Single Resolution Mechanism
and a Single Resolution Fund (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">SRM Regulation I</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;) as regards the
loss-absorbing and recapitalization capacity of credit institutions and
investment firms (</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">SRM Regulation I</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;"> as so amended by SRM Regulation 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;line-height:normal;">SRM
Regulation</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;) (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;line-height:normal;">EU
Banking Reforms</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#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;">The EU Banking
Reforms (other than CRR II) are stated to apply from 18 months plus one day
after the date of their entry into force on June 27, 2019, save for certain
provisions of the CRD V Directive where a two year period is provided for. CRR
II is stated to apply from 24 months and one day after the date of its entry
into force on June 27, 2019, although certain provisions are stated to enter
into force before or after that date, as described therein.</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;">CRD IV, among other
things, established a &#8220;Pillar 1&#8221; minimum capital requirement and increased the
level of capital required through the &#8220;combined capital buffer requirement&#8221;
that institutions must comply with from 2016 onwards. The &#8220;combined capital
buffer requirement&#8221; introduced five new capital buffers: (i) the capital
conservation buffer, (ii) the G-SIB buffer, (iii) the institution-specific
counter-cyclical capital buffer, (iv) the D-SIB buffer and (v) the systemic
risk buffer (a buffer to prevent systemic or macroprudential risks). The
&#8220;combined capital buffer requirement&#8221; applies in addition to the minimum
&#8220;Pillar 1&#8221; capital requirements and must be satisfied with CET1 capital.</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 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 &#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;). The Bank was
excluded from this list with effect as from January 1, 2017, so, 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: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 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
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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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. The Bank of Spain agreed in December 21, 2020 to maintain
the counter cyclical capital buffer applicable to credit exposures in Spain at
0% for the fourth quarter of 2020. As of the date of this Annual Report, the
counter cyclical capital buffer applicable to the Group stands at 0%.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">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, 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 the possibility
that the supervisory authorities may require credit institutions to meet
capital requirements exceeding the &#8220;Pillar 1&#8221; minimum capital requirements and
the &#8220;combined capital buffer requirement&#8221; by establishing &#8220;Pillar 2&#8221; capital
requirements (which, with respect to other requirements, are above &#8220;Pillar 1&#8221;
requirements and below the &#8220;combined capital buffer requirement&#8221;).</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, the ECB
is required, under Regulation (EU) No. 468/2014 of the ECB of April 16, 2014
establishing the framework for cooperation within the Single Supervisory
Mechanism between the ECB and national competent authorities and with national
designated authorities (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SSM Framework Regulation</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), to carry out a
SREP for us and the Group at least on an annual basis.</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 July 19, 2018, the
EBA published its final guidelines intended to further enhance risk management
by institutions and the convergence of supervision with respect to the SREP.
These guidelines focus on stress testing, particularly to determine &#8220;Pillar 2&#8221;
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;">Likewise, the ECB
announced on March 12, 2020 that it will allow banks to partially use AT1 and
Tier 2 instruments to meet the Pillar 2 requirement, being this measure
introduced by CRD V and initially expected to be implemented in 2021. In
particular, the composition of the capital instruments to meet he &#8220;Pillar 2&#8221;
requirement, shall be made up in the form of 56% of CET1 capital and 75% of
Tier 1 capital, as a minimum. </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;">Consequently, all
additional &#8220;Pillar 2&#8221; own funds requirements that the ECB may impose on the
Bank and/or the Group under the SREP will require the Bank and/or the Group to
maintain capital levels higher than the &#8220;Pillar 1&#8221; minimum capital requirement.</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
most recent SREP carried out by the European Central Bank, and in accordance
with the measures implemented by the European Central Bank on March 12, 2020,
by means of which banks may partially use AT1 and Tier 2 capital instruments in
order to fulfil the &#8220;Pillar 2&#8221; requirement, BBVA must maintain, a CET1 ratio of
8.59% at the consolidated level and 12.75% at the individual level. The
consolidated overall capital requirement includes: i) the minimum capital
requirement of Pillar 1 of 8.0%, that must be composed by a 4.5% minimum CET1;
ii) the AT1 requirement of Pillar 1 of 1.5%, that must be composed by a minimum
CET1 of 0.84%; iii) the capital conservation buffer (2.5% of CET1) and iv) the
capital buffer for Other Systemically Important Institutions (O-SIIs) (0.75% of
CET1). Likewise, BBVA must maintain, on an individual level, a CET1 ratio of
7.84% and a total capital ratio of 12.00%.</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 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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with
Article 48 of Law 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 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;) 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 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;), 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:17.85pt;"><font style="border:none;"><font 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 restrictions described in
the preceding paragraph while such calculation is pending, shall also be
triggered by a breach of the MREL requirement (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 3. Risk
Factors&#8212;Regulatory, Tax and Reporting Risks&#8212;Increasingly onerous capital and
liquidity requirements may have a material adverse effect on the Group&#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;) or a breach of the minimum
leverage ratio requirement.</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;">CRD V also
distinguishes between &#8220;Pillar 2&#8221; capital requirements and &#8220;Pillar 2&#8221; capital
guidance, only the former being regarded as mandatory requirements.
Notwithstanding the foregoing, CRD V provides that, besides other measures,
supervisory authorities are entitled to impose further &#8220;Pillar 2&#8221; capital
requirements when an institution repeatedly fails to follow the &#8220;Pillar 2&#8221;
capital guidance previously 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: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;">Additionally, CRD II sets a binding leverage ratio
requirement of 3% of Tier 1 capital, in addition to the institution&#8217;s own funds
requirements and risk-weighted assets (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">RWAs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)-based requirements. In
particular, any breach of this leverage ratio would entail the need to
determine the MDA and the related consequences.</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, on
December 7, 2017 the BCBS announced the end 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 the sensitivity
to risk in those weightings and impose limits on the use of internal
ratings-based approaches to ensure a minimum level of conservatism in the use
of such approaches and enhance comparability among banks in which such internal
ratings-based approaches are used. The review of minimum capital requirements
will also limit the regulatory benefit for banks when calculating total RWAs
using internal risk models as compared with the standardized approach, with a
minimum capital requirement of 50% of RWAs calculated using only the
standardized approaches that will be applicable as from January 1, 2022, which
is expected to increase to 72.5% as from January 1, 2027.</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;">Moreover, on March
15, 2018, the ECB published its supervisory expectations on prudential
provisions for non-performing loans by publishing the Addendum to the ECB&#8217;s
guide on non-performing loans for credit institutions, issued on March 20,
2017, which clarifies the ECB expectations regarding supervision over the
identification, management, measurement and reorganization of non-performing
loans, in order to avoid future and excessive accumulation of non-performing
loans without coverage in the balance sheets of the credit 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;">The Addendum&#8217;s
supervisory expectations are applicable to new non-performing loans classified
as such as of April 1, 2018. The ECB will evaluate the banks&#8217; practices at
least once a year and, from the beginning of 2021, the banks must inform the
ECB of any difference between their practices and the prudential provision
expectations.</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 ECB
has announced that a TRIM is being conducted on the internal models used by
banks subject to its supervision to calculate their RWAs, in order to reduce
inconsistencies and unjustified variability in these internal models throughout
the European Union. Although the full results of the TRIM are not yet known, it
could imply a change in the internal models used by banks and, at the same
time, increases or decreases in the capital needs of banks, including the Bank.</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 BRRD prescribes
that banks shall hold a minimum level of own funds and eligible liabilities in
relation to total liabilities known as MREL requirement. According to the
Commission Delegated Regulation (EU) 2016/1450 of May 23, 2016 (&#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.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On November 19, 2019,
the Bank announced that it had received notification from the Bank of Spain
regarding its MREL, as determined by the SRB. The Bank&#8217;s MREL has been set at
15.16% of the total liabilities and own funds of the Bank&#8217;s resolution group,
at a sub-consolidated level from January 1, 2021 (as detailed below). Likewise,
of this MREL, 8.01% of the total liabilities and own funds must be met with
subordinated instruments (the subordination requirement), once the concession
established in the requirement itself has been applied. This MREL is equivalent
to 28.50% of the Bank&#8217;s RWAs, while the subordination requirement included in the
MREL is equivalent to 15.05% in terms of the RWAs, once the corresponding
concession has been applied.</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 estimates
that, following the entry into force of SRM Regulation II (which, among other
matters, establishes the MREL in terms of RWAs and sets forth new transitional
periods and deadlines, and which we interpret would be applicable to our MREL
requirement), the current structure of shareholders&#8217; funds and admissible
liabilities enables the Bank&#8217;s compliance with its MREL requirement.</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 of December 31,
2017 (reference date taken by the SRB), the total liabilities and equity of the
Bank&#8217;s resolution group amounted to 371,910 million euros, of which the total
liabilities and equity of the Bank represented approximately 95%, and the RWAs
of the Bank&#8217;s resolution group amounted to 197,819 million euros.</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;">If the FROB, the SRM
or a Spanish Resolution Authority considers that there may be any obstacles to
resolvability by the Bank and/or the Group, a higher MREL 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: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 EU Banking Reforms provide that the breach by a bank of
its MREL should be addressed by the competent authorities through their powers
to address or remove obstacles to resolution, the exercise of their supervisory
powers and their power to impose early intervention measures, administrative
sanctions and other administrative measures. If there were a deficit in the
level of an entity&#8217;s eligible own funds and liabilities, and that entity&#8217;s own
funds were contributing to meeting the &#8220;combined capital buffer requirement,&#8221;
these own funds would automatically be deemed to count toward meeting the MREL
of said entity and would cease to count for purposes of meeting the &#8220;combined
capital buffer requirement&#8221;, which could lead the entity to fail to comply with
its &#8220;combined capital buffer requirement&#8221;. This could result in the need to
calculate the MDA and the resolution authority would have the power (but not
the obligation) to impose restrictions on the making of discretionary payments.
Therefore, with the entry into force of the EU Banking Reforms, the Bank will
have to fully comply with its &#8220;combined capital buffer requirement&#8221;, in
addition to its MREL, to ensure that it can make discretionary payments.</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, in
accordance with the EBA guidelines on the assumptions of triggering the use of
early intervention measures of May 8, 2015, a significant deterioration in the
amount of liabilities and eligible own funds held by an entity in order to
comply with Its MREL could place an entity in a situation where the conditions
for early intervention are met, which could entail the application of early
intervention measures by the competent resolution authority, which in the
Spanish case are detailed in Articles 9 and 10 of Law 11/2015, including the
intervention or provisional replacement of administrators.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On November 9, 2015,
the FSB published its final 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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Among other
amendments, BRRD II introduced 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 introduced a number of
changes to the MREL rules applicable to non-G-SIBs. While the EU Banking
Reforms propose for minimum harmonized or &#8220;Pillar 1&#8221; MRELs for G-SIBs, in the
case of non-G-SIBs, it is proposed that MRELs will be imposed on a
bank-specific basis. For G-SIBs, it is also proposed that a supplementary or
&#8220;Pillar 2&#8221; MRELs may be further imposed on a bank-specific basis. The EU Banking
Reforms further provide for the resolution authorities to give guidance to an
institution to have own funds and eligible liabilities above the required
levels.</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
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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">To facilitate
compliance with this requirement, Directive (EU) 2017/2399 of the European
Parliament and of the Council of December 12, 2017 amending BRRD as regards the
ranking of unsecured debt instruments in insolvency hierarchy was approved,
with the aim to harmonize national laws on insolvency and recovery and
resolution of credit institutions and investment firms, by creating a new
credit class of &#8220;non-preferred&#8221; senior debt that should only be bailed-in after
junior ranking instruments but before other senior liabilities. In this regard,
on June 23, 2017 Royal Decree-Law 11/2017 of June 23 on urgent measures in financial
matters introduced into Spanish law the new class of &#8220;non-preferred&#8221; senior
debt.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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 regarding the final form of the EU Banking Reforms insofar as such
eligibility is concerned and how the regulations 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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 EU Banking Reforms further include, as part of MREL, a
new subordination requirement of eligible instruments for G-SIBs and &#8220;top tier&#8221;
banks (including the Bank) that will be determined according to their systemic
importance, involving a minimum &#8220;Pillar 1&#8221; subordination requirement. This
&#8220;Pillar 1&#8221; subordination requirement 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 under the new insolvency hierarchy introduced into Spain and other
subordinated will be eligible for compliance with the subordination
requirement). For &#8220;top tier&#8221; banks such as the Bank, this &#8220;Pillar 1&#8221;
subordination requirement has been determined as the highest of 13.5% of the
Bank&#8217;s RWAs 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-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>

<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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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: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:0cm;margin-right:0cm;margin-top:0cm;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;">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;">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 include, 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;">Although banks are not legally required to seek
prior approval from the Bank of Spain or the ECB before declaring dividends
(distributions of share premium account is subject to prior approval), we
inform each of them on a voluntary basis upon the declaration of a 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, recommended that credit institutions establish dividend 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>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In
accordance with recommendation ECB/2020/19 issued by the ECB on March 27, 2020
on dividend distributions during the COVID-19 pandemic, the Board of Directors
of BBVA resolved to modify for the financial year corresponding to 2020 the dividend
policy of the Group, announced on February 1, 2017, determining as new policy
for 2020 not to pay any dividend amount corresponding to 2020 until the
uncertainties caused by COVID-19 disappear and, in any case, never before the
end of such fiscal year. On July 27, 2020, the ECB prolonged this
recommendation until January 1, 2021 by adopting recommendation ECB/2020/35. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On
December 15, 2020 the ECB issued recommendation ECB/2020/62, repealing
recommendation ECB/2020/35 and recommending that significant credit
institutions exercise extreme prudence when deciding on or paying out dividends
or performing share buy-backs aimed at remunerating shareholders.
Recommendation ECB/2020/62 circumscribes prudent distributions to results of
2019 and 2020 but excludes</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;">distributions regarding 2021 until September
30, 2021, when the ECB will reevaluate the economic situation. BBVA intends to
reinstate its dividend policy of the Group announced on February 1, 2017 once
the recommendation ECB/2020/62 is repealed and there are no additional
restrictions or limitations. </font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Bylaws allow for dividends to be paid in
cash or in kind as determined by shareholders&#8217; resolution.</font></font></p>


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

<p style="border:none;margin-bottom: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:7.1pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><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="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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 certain measures that the governments of
the main countries where the BBVA Group operates have taken to limit the
effects of the COVID-19 pandemic (including measures which have affected the
BBVA Group&#8217;s lending activity and credit risk-taking), as well as on the measures
adopted by the BBVA Group to support its customers pursuant to initiatives
required or supported by the relevant governments, </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">see
</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 5. Operating and Financial Review and Prospects&#8213;Operating
Results&#8213;Factors Affecting the Comparability of our Results of Operations
and Financial Condition&#8213;The COVID-19 Pandemic</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="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: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;">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. 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: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: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 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: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: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;">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). In 2019,
Law 5/2019<a name="m_536414947498505793_m_3250749855"></a><a name=BookmarkName1></a><a name="BookmarkName1_bclEnd"></a><a name="m_536414947498505793_m_3250749855_bclEnd"></a>, of March 15, regulating
real estate credit agreements (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 5/2019</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) was passed. It 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: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: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 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. 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: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:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 2020, extensive regulation about revolving
credit has been approved by Order ETD/699/2020, of July 24, regulating
revolving credit and amending Order ECO/697/2004, of March 11, on the Central
Risk Information Office, Order EHA/1718/2010, of June 11, regulating and
controlling the advertising of banking services and products and Order
EHA/2899/2011, of October 28, on transparency and protection of customers of
banking services. This new regulation sets out, among others, new provisions on
creditworthiness assessment and transparency requirements for revolving credit.
In particular, lenders shall assess whether customers could repay amounts equal
to at least 25% of the credit on an annual basis. Regarding European cross-border
payments, Regulation 2019/518 introduced two amendments to Regulation 924/2009:
(i) the extension of the equality of charges principle to non-euro Member
States; and (ii) new rules on the transparency of charges regarding currency
conversions for payments at the point of sale (</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;POS&#8221;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) or at ATM
machines, as well as for credit transfers. The main changes introduced by this
regulation entered into force in December 2019 and April 2020 and some
obligations of information, related to electronic communications, will enter
into force in April 2021. </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>


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


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 relation to
payment services, Order ECE/1263/2019 of December 26, on transparency of
conditions and information requirements applicable to payment services, entered
into force on July 1, 2020. This Order establishes the information requirements
applicable to payment transactions and is mandatory for both parties if the
customer is a consumer or a micro-enterprise. </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: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;">Additionally, Circular 4/2020, of June 26, of
the Bank of Spain on advertising products and banking services came into force
on October 15, 2020. This Circular sets out a specific regime for advertising
of banking products and services in audiovisual, radio or digital media and
social networks. According to Circular 4/2020, a commercial communication policy
shall be approved by the management body and internal records of all
advertising campaigns shall be kept.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160; &nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CNMV circular 2/2020, of October 28, on the advertising of
investment products and services, complemented and developed Order
EHA/1717/2010, of June 11, on the regulation and control of advertising of
investment services and products, of the Ministry of Economy and Finance.</font></font></p>

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

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, Spanish Act 7/2020 for the digital
transformation of the financial system was adopted. This law regulates the
controlled testing environment (&#8220;regulatory sandboxes&#8221;) that are designed to
facilitate the development and implementation of innovative technology in the
financial system, while providing supervisory coverage and aiming to respect
the principle of non-discrimination. </font></font></p>

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

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Moreover, Spanish Act 6/2020, regulating certain aspects of
electronic trust services, was adopted. This law seeks to adapt Spanish
legislation to certain aspects of Regulation (EU) 910/2014 regarding electronic
identification and trust services for electronic 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-GB style="font-size:10.0pt;">&nbsp;</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-GB style="font-size:10.0pt;">In relation to insolvency regulation, Royal
Legislative Decree 1/2020 of May 5, approving the revised text of the new
Spanish Insolvency Law entered into force on September 1, 2020. Additionally,
Royal Decree Law 16/2020 introduced some exceptional and temporary measures as
a consequence of the effects of the COVID-19 pandemic. The main changes of this
Royal Decree affect refinancing agreements, the extension of the period for
requesting &#8211;on a voluntary basis- the start of insolvency proceedings, special
temporary regime for parties mostly related to an insolvent company, among
other temporary changes. Other measures to support solvency were introduced by
Royal Decree Law 34/2020 with (i) the extension of the maturity and
interest-only periods (carencia) of transactions guaranteed by the ICO
(Instituto de Cr&#233;dito Oficial, a state-owned bank), (ii) the extension, until
March 14, 2021, of the suspension of the duty to request the start of
insolvency proceedings, (iii) the scope of the measures of inadmissibility to
process a declaration of default/noncompliance of a refinancing agreement, or
an out-of-court settlement (originally provided for in Article 3 of Law 3/2020)
is expanded. This regime, which was originally in force for requests of
declarations of default submitted up to October 31, 2020, continues to be in
effect on the same terms. </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-GB style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">Regarding real estate,
the Spanish government and the governments of several autonomous regions of
Spain have taken measures to improve access to housing by either supporting
public housing or protecting mortgage owners and/or home renters. Measures have
also been adopted to protect mortgage owners and/or renters of
industrial/commercial properties. Some of these measures affect the Bank. At a
national level, Decree Law 34/2020, of October 20, on urgent measures to
support economic activity in leased business premises was approved with the
objective of reducing the onerous nature of contractual obligations under
property leases for industrial and/or commercial activities that have been
affected by the suspensions and restrictions adopted by the public authorities
in response to the COVID-19 pandemic. Measures adopted by autonomous regions
include the following:</font></font></p>

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

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the Autonomous Region of
Valencia, Decree Law 6/2020 of June 5, supports public housing by introducing
prospective and retrospective rights of first refusal (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">derechos de tanteo y
retracto</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) of the Generalitat of Valencia in connection with transfers of
housing acquired by means of settling mortgage debts (dation-in payment or &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">daci&#243;n
en pago</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), transfer of buildings containing a minimum of five dwellings,
transfers of ten or more dwellings and housing acquired in a judicial mortgage
foreclosure proceeding. </font></font></p>


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


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<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In Catalonia, Decree Law
17/2019 of December 23, on urgent measures to improve access to housing was
approved, modifying various regulations in the area of housing, affecting
owners of empty housing, providing preferential and withdrawal rights in favor
of the Generalitat in connection with housing acquired in a foreclosure
proceeding or</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> by means of settling
mortgage debts (dation-in payment or &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">daci&#243;n en pago</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, and establishing the concept of &#8220;large house
holder&#8221;. The main measures are: (i) expropriation of housing for a social
purpose, (ii) the requirement to extend lease contracts with low prices to
certain vulnerable renters, (iii) the obligation to relocate persons or family
units at risk of residential exclusion, (iv) the indexation of rental prices in
some cases, and (v) right of first refusal in case of transfer of rented
housing.</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> On January 28, 2021, the
Spanish Constitutional Court ruled in favor of the annulment of some of these
provisions.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In Andalusia, Decree-Law
2/2020, of March 9, on the improvement and simplification of the regulation for
the promotion of productive activity in Andalusia, introduced changes to the
administrative intervention procedures relating to construction activities in
order to eliminate certain burdens. In addition, Decree 175/2020, of October
27, regulates the right of information of consumers, borrowers and guarantors
in connection with issuances of mortgage bonds,</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;">mortgage
transfer certificates, and other means of transferring credit rights over home
mortgages. This decree imposes obligations of information to creditors that
intend to sell their position on mortgages to third parties.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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 Autonomous Region of Murcia, measures have also been
adopted to address the illegal occupation of dwellings (Decree Law 10/2020, of
October 8). </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align: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 is expected
to 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
Taxonomy Regulation, which provides for a general framework for the development
of an EU-wide classification system for environmentally sustainable economic
activities, has been published, although most of its obligations will not enter
into force for the time being. 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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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, Royal Decree 738/2020,
of August 4, has completed the implementation in Spain of Directive (EU)
2016/2341. This regulation further develops Royal Decree Law 3/2020, of
February 4, which incorporates (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, Directive (EU)
2014/65 relating to markets in financial instruments (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MIFID II</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) has
been fully implemented in Spain. Investor protection legislation is completed
by Regulation (EU) 1286/2014 (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PRIIPs Regulation</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) which became
applicable on January 1, 2018. The PRIIPs Regulation requires product
manufacturers to create and maintain key information documents (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">KIDs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
and persons advising or selling packaged retail and insurance-based investment
products (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PRIIPs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) to provide retail investors based in the European
Economic Area with KIDs to enable those investors to better understand and
compare products. 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;">Similarly, the European Union has started a review of MIFID
II focused on the reduction of potential administrative burdens in the context
of the provision of financial services. The European co-legislators need to
agree on the final text of the amendment and, depending on the result of that
agreement, entities could be subject to changes in systems and documentation,
but the initial expectation is that potential changes will eliminate certain
processes and requirements.</font></font></p>


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


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align: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 margins when dealing
with other in-scope entities. Due to the European authorities intention to
postpone the entry into force of the obligations for new entities (which would
be phased in as suggested by the International Organization of Securities
Commissions) only a small number of additional contracts have been negotiated
during 2020.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align: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 (&#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;) reform led by the Financial Stability
Board. BBVA has currently set up an internal working group to analyze 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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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 regard, the European Union is working on an
amendment to Regulation 2016/1011 relating to financial benchmarks (&#8220;BMR&#8221;)
which would cover the potential cessation or lack of representativeness of
specific benchmarks to mitigate the risk of contract frustration by mandating
the application by law of a given fallback. According to the proposed draft,
the European Commission may designate a replacement benchmark for a benchmark
that will cease to be published where the cessation of that publication may
result in significant disruption in the functioning of financial markets in the
Union. The replacement benchmark would apply to certain contracts which do not
already include a suitable permanent fallback. The proposal to amend the BMR is
currently subject to discussions among the European Commission, the European
Parliament and the European Council.</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 and suspicious activity reports.</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>

<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>


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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;">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:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The BRRD I
(transposed in Spain by Law 11/2015, of June 18, on 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;">Law 11/2015</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">RD 1012/2015</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
and the SRM Regulation were 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Entity</font></b><font 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 provided that a Member State
may only use additional financial stabilization instruments to provide
extraordinary public financial support as a last resort, once the resolution
instruments (described further below) 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: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 May 2019, the
European Commission published the BRRD II, which amended the BRRD I and
incorporated, among other changes, the international standards of total loss
absorption capacity and recapitalization, with the aim of improving operational
execution, strengthening competencies in internal recapitalization and avoiding
legal uncertainty. Although the transposition period was established within eighteen
months from the date of its entry into force, the approval of the law
transposing this directive in Spain is still pending.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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>

<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 line with the
provisions of the BRRD I, 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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:17.85pt;"><font style="border:none;"><font 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) &#8220;bridge institution&#8221;, 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. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the event that an
Entity is in a resolution situation, the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Bail-in Tool</font></b><font 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, of the Spanish Resolution Authority, 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. &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Relevant Spanish Resolution Authority</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;
means any of 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;">), the European Single Resolution
Mechanism and, as the case may be, according to Law 11/2015, RD 1012/2015 and
the SRM Regulation, the Bank of Spain and the Spanish Securities Market
Commission (CNMV) or any other entity with the authority to exercise the
Spanish Bail-in Power from time to time.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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 Spanish normal insolvency proceedings (with senior
non-preferred claims (cr&#233;ditos ordinarios no preferentes) subject to the
Bail-in Tool after any subordinated claims (cr&#233;ditos subordinados) 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: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 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;and, together
with the&nbsp;Bail-in Tool, 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;). 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>

<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;">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 though the SRF 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The SRF was established by Regulation (EU) No 806/2014 (SRM
Regulation). Where necessary, the SRF may be used to ensure the efficient
application of resolution tools and the exercise of the resolution powers
conferred to the SRB by the SRM Regulation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The SRF is composed
of contributions from credit institutions and certain investment firms in the
19 participating Member States within the Banking Union.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SRF will be gradually
built up during the first eight years (2016-2023) and shall reach the target
level of at least 1% of the amount of covered deposits of all credit
institutions within the Banking Union by December 31, 2023. </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;">Within the resolution scheme, the SRF may be used only to the extent
necessary to ensure the effective application of the resolution tools, as last
resort, in particular:</font></font></p>

<p style="border:none;margin-bottom:12.0pt;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: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%;">To guarantee the assets or the
liabilities of the institution under resolution;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;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: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%;">To make loans to or to
purchase assets of the institution under resolution;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;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: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%;">To make contributions to a
bridge institution and an asset management vehicle;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;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: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%;">To make a contribution to the
institution under resolution in lieu of the write-down or conversion of
liabilities of certain creditors under specific conditions;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;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: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%;">To pay compensation to
shareholders or creditors who incurred greater losses than under normal
insolvency proceedings.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Intergovernmental
Agreement (&#8220;IGA&#8221;) acknowledges that situations may exist where the means
available in the Single Resolution Fund (Fund) are not sufficient to undertake
a particular resolution action, and where the ex-post contributions that should
be raised in order to cover the necessary additional amounts are not
immediately accessible.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In December 2013,
ECOFIN Ministers agreed to put in place a system by which bridge financing
would be available as a last resort. The arrangements for the transitional
period should be operational by the time the Fund was established.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In this scenario, the
Eurogroup decided in 2017 to expand the ESM role to serve as a backstop for the
SRF. While the new features of the expanded role for the ESM were agreed by
2019, it was not until late 2020 that the euro area finance ministers agreed to
proceed with the reform of the ESM and was later signed by Member States
(represented by their ambassadors to the EU) on January 27 (the ratification by
national parliaments is pending to come into force). The backstop to the SRF
will be operational at the beginning of 2022 (earlier than expected) and will
be able to provide support for up to &#8364;68 billion (in the form of credit lines).
If this financial assistance is requested, the SRF will pay back the ESM loan
with funds obtained from banks&#8217; contributions (in a period of three years, with
the possibility to extend it to five years).</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: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
Mexico are highly regulated. The Mexican regulatory framework for financial and
banking activities aims to ensure the stability of the financial system and
combat money laundering, as well as to provide consumer protection and
transparency in the provision 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;">The provision of
financial and deposit products is mainly regulated in the Banking Law and
provisions issued by the 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 </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Banco de M&#233;xico</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> (the Mexican Central Bank) (&#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 issues prudential regulation and BANXICO regulates banking transactions,
including financial and deposit products. In addition, the Financial Services
Transparency and Regulation Law contains provisions regarding transparency and
consumer protection. </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 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 and promote competition, as well as to minimize systemic
risk. </font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">Regarding asset management, regulation encourages the
creation and development of investment companies and promotes the strengthening
and the decentralization of the stock market by facilitating the access of
small and medium investors. It also establishes the 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:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulatory activity
increased throughout 2020 driven by measures taken to tackle COVID-19&#8217;s impact
on banking activity. BANXICO issued several rules aimed at promoting the
orderly behavior of financial markets, providing markets with liquidity and
facilitating the granting of credit by banks with a specific focus on SMEs.
Meanwhile, the CNBV issued special accounting standards enabling banks to offer
grace periods and avoid considering loans overdue in the context of the
pandemic. Later on, the CNBV issued a framework for loan restructuring which
provided for beneficial treatment in terms of capital and reserves for banks
willing to offer loan-restructuring under certain conditions specified by the
regulator. </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 December 2020, the
Federal Economic Competition Commission published a preliminary opinion on its
investigation regarding the card payments&#8217; market identifying four potential
barriers to competition that prevent the entry and increase costs for new
market participants that hinder innovation and investment and increase merchant
acquisition costs. Among other measures, COFECE could order that banks divest
at least 51% of their stakes in card payment clearing houses (Prosa and
E-Global), and the preliminary opinion recommends that BANXICO and the CNBV
eliminate regulatory obstacles and issue regulations to ensure competition. At
this stage, stakeholders have 45 working days to present arguments and offer
alternative measures to address the Commission&#8217;s concerns.<a name="fob9te_1"></a><a name="fob9te_1_bclEnd"></a></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;">Moreover, there were
new developments during 2020 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. Following the law,
BANXICO has regulated the recognition and use of virtual assets. The law also
introduced a regime of &#8220;innovative models for the provision of financial
services&#8221; that enables 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 have already published most of the
secondary regulation related with the Fintech Law, but the rules to govern the
sharing of data are still being developed.</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
President submitted a bill to ban outsourcing. Due to its importance, the
negotiation and discussion of the bill have been postponed until February 2021.
If approved, BBVA would need to evaluate its personnel hiring schemes and
determine if a reorganization of the personnel structure is required.</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 Federal Labor Law
was recently amended in order to regulate home office. This amendment includes
the employer&#8217;s obligation to assume employee&#8217;s expenses resulting from home
office, including payment of telecommunication services and a portion of the
electric bill.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:11.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;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. In 2020, new laws were
introduced authorizing the Central Bank of Turkey (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CBT</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) to impose restrictions
regarding certain fees and commissions that may be charged to customers,
thereby increasing the number of regulators that are focused on consumer
protection-related matters in the banking sector.</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 for 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">In 2020, a significant number of regulations were
introduced, the majority of which related to measures taken as a result of
COVID 19. These regulations focused on extending the delinquency period up to
180 days for the classification of non-performing loans, facilitating the use
of credit cards such as by increasing limits on contactless cards, promoting
the use of digital channels for almost all banking transactions, encouraging
banks to extend loan maturities and stopping all execution and bankruptcy
proceedings between March 22, 2020 and April 30, 2020, among others. New
regulations were adopted 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
experienced as a result of COVID-19. The BRSA has encouraged banks to apply
interest on extended maturities provided that the interest rates applicable for
such extension shall be in line with the market rates applicable at the time of
restructuring.</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 March 2020, the
BRSA also introduced a new asset ratio calculation which required the sum of
all loans, securities held and swap transactions to be equal to all local and
foreign currency deposits. Failure to comply with such requirement resulted in
monetary fines. In the last quarter of 2020, this requirement was eliminated.
Garanti BBVA complied with such requirement while in effect. </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 the interest rates applicable to credit cards and overdraft
accounts a new law was introduced in October 2020 and as November 1, became
effective. Pursuant to this new law CBT will announce the interest applicable
to credit cards, which shall also be applied to overdraft accounts, on the last
fifth business day every month. </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. Significant
amendments have been made to this law in 2019 and they all became effective in
2020. These amendments were introduced to: (i) answer the sectorial needs of
the payment and electronic money institutions; (ii) eliminate the dual
structure which consists of the CBT and BRSA and position the CBT 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, 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;">In addition, in March
2020, the Regulation on Information Systems and Electronic Banking Services was
enacted and it came into force at the end of June 2020. The regulation governs
issues relating to information systems and electronic banking. Under such
regulation, banks are required to establish a new governance structure pursuant
to which an Information Security Function directly reporting to the CEO or the
Board of Directors is established. The regulation further requires a strategic
plan, better governance and controls over data management and various controls
over back-up solutions and business continuity.</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 electronic banking
services, new rules have been adapted which regulates all electronic banking
services and channels such as mobile banking, internet banking, telephone,
banking and ATM banking. Particularly, customer identification rules have been
modified and adapted with the new technological standards.</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;">Article 73 of Banking
Law No. 5411, which governs issues around bank secrecy, has been amended and
introduced two new concepts in terms of the sharing of data with controlling
shareholders. Banks operating in Turkey are now required to provide information
subject to a &#8220;reasonableness&#8221; test yet to be defined by the BRSA. In addition,
banks may only share customer specific information with third parties at the
specific instruction of customers under the new rule.</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 2020, new
provisions were introduced to the applicable banking laws and regulations
allowing customer onboarding through digital channels and open banking
practices. Secondary legislation detailing the principles and processes are to
be published by the relevant regulators.</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 Law No.5411
has also been amended to allow banks to enter into banking services agreements
and various other banking products through digital channels. Furthermore, with
the amendment introduced on Bank Cards and Credit Cards Law No.5464, credit
card contracts can be established using digital or alternative channels of the
banks.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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 is required to conduct 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 color=black style="border:none;"><font color=black 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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BHC Act</font></b><font color=black 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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IBA</font></b><font color=black 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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Federal Reserve</font></b><font color=black 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 color=black style="border:none;"><font color=black 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 color=black style="border:none;"><font color=black 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 color=black style="border:none;"><font color=black 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.&nbsp;BBVA USA
is&nbsp;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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FDIC</font></b><font color=black 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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CFPB</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) with respect to consumer protection laws.&#160; </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;">Upon
completion of the previously announced stock purchase of 100% of the issued and
outstanding shares of BBVA USA Bancshares, Inc. by PNC Financial Services
Group, Inc., the requirements described in this section that apply only to BBVA
USA Bancshares, Inc. and BBVA USA, but not BBVA, would no longer be applicable.
However, BBVA will continue to be subject to U.S. federal and state supervision
and regulation as a foreign banking organization and a bank holding company
because it maintains a branch in the United States.</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;">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. 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 color=black style="border:none;"><font color=black 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><a name="page_67"></a><a name="page_67_bclEnd"></a></p>


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<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;">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 Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Dodd-Frank
Act</font></b><font color=black 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.&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. have been subject to less restrictive
enhanced prudential standards and capital and liquidity requirements. As of
December 31, 2020, BBVA USA Bancshares, Inc. became a Category IV banking
organization for purposes of these rules, and certain enhanced prudential
standards and capital and liquidity requirements will again apply to BBVA USA
Bancshares, Inc. following applicable phase-in and transition periods. </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;">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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Title I Resolution Plan</font></b><font color=black 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><a name="page_82_bclEnd_bclEnd"></a>&nbsp;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 FDIC has
issued an advance notice of proposed rulemaking to revise the FDIC resolution
plan rule, but a notice of proposed rulemaking has yet to be issued. The
deadline for BBVA USA&#8217;s next FDIC rule resolution plan submission is currently
unclear, but the FDIC announced that it intends to resume requiring banks to
submit FDIC resolution plans, and that banks subject to the rule will have at
least 12 months&#8217; advance notice before being required to do so.</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;">BBVA USA
Bancshares, Inc. and BBVA USA are subject to the U.S. Basel III capital rule (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">U.S.
Basel III</font></b><font color=black 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. 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 were not
subject to these additional requirements in 2020. As a result of becoming a
Category IV banking organization as of December 31, 2020, BBVA USA Bancshares,
Inc. and BBVA USA will again be subject to certain of these additional
requirements following applicable phase-in and transition periods. </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;">Volcker Rule</font></i></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;">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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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 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 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, in June 2020, the five regulatory agencies finalized
amendments to the Volcker Rule's restrictions on ownership interests in and
relationships with covered funds. Among other things, these amendments permit
banking entities to have relationships with and offer additional financial
services to additional types of funds and investments vehicles.</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;">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><a name="page_68"></a><a name="page_68_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Derivatives</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;">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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CFTC</font></b><font color=black 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. 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: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&#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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EMIR</font></b><font color=black 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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MiFID</font></b><font color=black 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: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 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 color=black style="border:none;"><i><font color=black 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: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 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 color=black style="border:none;"><i><font color=black 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 color=black style="border:none;"><font color=black 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 color=black style="border:none;"><font color=black 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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FinCEN</font></b><font color=black 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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 color=black style="border:none;"><font color=black 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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BSI</font></b><font color=black 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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SEC</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and the Financial Industry
Regulatory Authority (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FINRA</font></b><font color=black 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 color=black style="border:none;"><font color=black 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 color=black style="border:none;"><font color=black 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><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;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 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;">On a continuing basis,&nbsp;the BBVA Group maintains&nbsp;a bank
account&nbsp;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, 2020, from embassy-related activity, which include fees and/or
commissions, totaled&nbsp;$128.98. The BBVA Group does not allocate direct
costs to fees and commissions and therefore has not disclosed a separate profit
measure.</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, 2020, 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, Chile, Colombia, Finland, France, Germany, Italy, Mexico,
Netherlands, Peru, Portugal, Romania, Spain, Switzerland, Turkey, United
Kingdom, the United States of America and Uruguay. In addition, BBVA has an
active presence in Asia.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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;"><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, 2020.</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=41% 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=15% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">Country of
  Incorporation</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=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=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=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=41% 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=15% 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=10% 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=10% 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=41% 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=15% 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=10% 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=10% 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;97,518&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=41% style="background:white;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:8.0pt;">BBVA USA</font></font></p>
  </td>
 <td width=15% style="background:white;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:8.0pt;">THE UNITED STATES</font></font></p>
  </td>
 <td width=10% style="background:white;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:8.0pt;">Bank</font></font></p>
  </td>
 <td width=12% style="background:white;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:8.0pt;">100.00</font></font></p>
  </td>
 <td width=12% style="background:white;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:8.0pt;">100.00</font></font></p>
  </td>
 <td width=10% style="background:white;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:8.0pt;">&#160;76,128&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=41% 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=15% 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=10% 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=10% 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;52,319&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=41% 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=15% 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=10% 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=10% 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;23,891&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">BBVA SEGUROS S.A. DE SEGUROS Y REASEGUROS</font></font></p>
  </td>
 <td width=15% 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=10% 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=10% 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;17,601&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=41% 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=15% 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=10% 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=10% 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;15,573&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">BANCO BBVA ARGENTINA S.A.</font></font></p>
  </td>
 <td width=15% 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=10% 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=10% 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;6,553&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=41% 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=15% 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=10% 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=10% 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;5,391&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=41% style="background:white;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" style="font-size:8.0pt;">PENSIONES BBVA BANCOMER, S.A. DE C.V., GRUPO
  FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td width=15% style="background:white;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:8.0pt;">MEXICO</font></font></p>
  </td>
 <td width=10% style="background:white;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:8.0pt;">Insurance</font></font></p>
  </td>
 <td width=12% style="background:white;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:8.0pt;">100.00</font></font></p>
  </td>
 <td width=12% style="background:white;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:8.0pt;">100.00</font></font></p>
  </td>
 <td width=10% style="background:white;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:8.0pt;">&#160;4,815&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=41% style="background:white;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:8.0pt;">GARANTIBANK BBVA INTERNATIONAL N.V.</font></font></p>
  </td>
 <td width=15% style="background:white;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:8.0pt;">THE NETHERLANDS</font></font></p>
  </td>
 <td width=10% style="background:white;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:8.0pt;">Bank</font></font></p>
  </td>
 <td width=12% style="background:white;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:8.0pt;">49.85</font></font></p>
  </td>
 <td width=12% style="background:white;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:8.0pt;">100.00</font></font></p>
  </td>
 <td width=10% style="background:white;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:8.0pt;">&#160;3,398&#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, 2020.</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 2,482 branch
offices in Spain and, principally through our various subsidiaries, 4,950
branch offices abroad as of December 31, 2020. As of December 31, 2020,
approximately 68% of our branches in Spain and 66% of our branches abroad (60%
excluding branches relating to Garanti BBVA) were rented from third parties
pursuant to 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:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Interest income
figures, when used, do not include interest income on non-accruing loans to the
extent that cash payments have been received, as a result of the application of
the interpretation issued by the IFRIC in its &#8220;IFRIC Update&#8221; of March 2019
regarding the collection of interest on impaired financial assets under IFRS 9
(Collection of interest on impaired financial assets). See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Presentation of
Financial Information&#8212;IFRS 9 &#8211; Collection of interest on impaired financial
assets&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. Loan fees are included in the computation of interest revenue.
Interest income figures include &#8220;other income&#8221;, which amounted to &#8364;534 million,
&#8364;343 million and &#8364;268 million for the years ended December 31, 2020, 2019 and
2018, respectively. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For additional
information on &#8220;interest and other income&#8221; see Note 37.1 to our Consolidated
Financial Statements.</font></font></p>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font 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:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Year-on-year variations in the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">selected statistical information presented
herein have been affected by </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the planned USA Sale,
mainly as follows:</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:56.15pt;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: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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">2020 year-end data</font></i></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;">. All assets and liabilities of BBVA USA and other companies
included within the scope of the USA Sale were reclassified to &#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;, respectively, in the
consolidated balance sheet as of December 31, 2020. Accordingly, loans and
advances and deposits as of December 31, 2020 (among other balance sheet
information provided in this section as of such date) do not include the
respective amounts of BBVA USA and other companies included within the scope of
the USA Sale.</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:56.15pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=black face="Times New Roman,serif" style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:56.25pt;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: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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">2020 average data</font></i></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;">. As indicated in &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Presentation of Financial
Information&#8212;Statistical and Financial Information</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221; and further below,
average balance sheet information is based on the beginning and month-end
balances in the relevant year. Up until the time the assets and liabilities of
BBVA USA and other companies included within the scope of the USA Sale were
reclassified to &#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;, respectively (which occurred on November 15, 2020, upon the signing of
the relevant share purchase agreement), the beginning and month-end balances of
BBVA USA and other companies included within the scope of the USA Sale were
considered to calculate the average balances of all balance sheet items
provided in this section in the same manner as in 2019 and 2018. Following such
reclassification, the beginning and month-end balances of these entities were
no longer considered in such calculations and were included instead in the
calculations of the average balances of &#8220;Other assets&#8221; and &#8220;Other liabilities&#8221;,
as applicable, for the year ended December 31, 2020. The same approach was
followed to calculate the respective </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:11.0pt;line-height:normal;">&#8220;</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;">Interest&#8221; and &#8220;Average Yield&#8221; of balance sheet items. In
particular, tables included under &#8220;&#8212;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Average Balances and Rates</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;, &#8220;&#8212;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Changes
in Net Interest Income-Volume and Rate Analysis</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221; and &#8220;&#8212;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Interest Earning
Assets&#8212;Margin and Spread</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221; were prepared on this basis.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:56.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=black face="Times New Roman,serif" style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Certain
financial information as of and for the years ended December 31, 2019 and 2018
has been restated for comparative purposes. See </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Presentation of Financial
Information&#8221;. </font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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>


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<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=29% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=9 nowrap valign=bottom width=71% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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:18.6pt;">
  <td nowrap valign=bottom width=29% style="height:18.6pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border:none;border-bottom:solid black 1.0pt;height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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, 2020</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:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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>
 </tr>
<tr style="height:27.0pt;">
  <td valign=bottom width=29% style="height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin: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: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: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: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: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: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:8.0pt;">Average Yield (1)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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: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:8.0pt;">Interest</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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: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:8.0pt;">Average Balance</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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: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:8.0pt;">Average Yield (1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=9 nowrap valign=bottom 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, Except Percentages)</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;"><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=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=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=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;"><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;">60,172</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;">68 </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;">0.11%</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;">46,060</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;">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=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;">0.32%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 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;">30,120</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;">8 </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;">0.03% </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;">17,293</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;">0.29% </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=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border: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>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% 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;">30,051</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;">60 </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;">0.20% </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;">28,767</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;">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=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border: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>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;">205,245</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;">4,253 </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;">2.07%</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;">185,200</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;">5,450</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;">2.94%</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;">178,729</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;">5,677</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;">3.18%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 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;">134,179</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;">891 </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;">0.66% </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;">123,645</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;">1,062</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;">116,055</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;">1,202</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;">1.04% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% 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;">71,067</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;">3,362 </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;">4.73% </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;">61,555</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;">4,388</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;">4,475</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;">7.14% </font></i></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;">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;">414,631</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;">17,533 </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;">4.23%</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;">415,580</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;">21,729</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;">5.23%</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;">20,872</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;">5.09%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><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;">4,747</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;">164 </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;">3.46% </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;">5,086</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;">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=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><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;">39,720</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;">521 </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;">1.31% </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;">32,448</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;">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=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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 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;">370,165</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;">16,847 </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;">4.55% </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;">378,046</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;">20,655</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;">5.46% </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;">19,957</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;">5.27% </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;">&#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;">179,433</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;">3,030 </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;">1.69% </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;">180,028</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;">3,372</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=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% 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;">170,926</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;">2,998 </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;">1.75% </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;">171,412</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;">3,344</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:9.0pt;">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:9.0pt;">3,276</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;">1.90% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% 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;">8,507</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;">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:9.0pt;">0.37% </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;">8,617</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;">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:9.0pt;">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:9.0pt;">105</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;">1.16% </font></i></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;">&#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;">190,731</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;">13,817 </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;">7.24% </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;">198,018</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;">17,284</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;">8.73% </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;">16,576</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;">8.40% </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 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;">22,297</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;">439 </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;">1.97% </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;">18,622</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;">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:9.0pt;">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:9.0pt;">511</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;">3.45% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% 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;">168,434</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;">13,378 </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;">7.94% </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;">179,397</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;">16,682</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;">9.30% </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;">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:9.0pt;">16,065</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;">8.80% </font></i></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;">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:9.0pt;">49,786</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;">535 </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;">1.07%</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;">45,957</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;">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:9.0pt;">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=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;">0.58%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=29% 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:9.0pt;">729,833</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;">22,389 </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;">3.07%</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;">692,798</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;">27,762</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;">4.01%</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;">677,951</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;">26,954</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;">3.98%</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; 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; Foreign activity
represented 41.27% of the total average assets for the year ended December 31,
2020, 43.60% for the year ended December 31, 2019 and 45.34% 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%;">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">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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=29% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=9 nowrap valign=bottom width=71% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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=29% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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, 2020</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, 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>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=29% 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=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>
 </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=9 nowrap valign=bottom width=71% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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=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;">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=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: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;">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;">71,279</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;">1,525 </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;">2.14% </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;">61,285</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;">2,123</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>
 </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;">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:9.0pt;">387,563</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;">3,908 </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;">1.01% </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;">376,057</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;">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:9.0pt;">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>
 </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;">&#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;">195,410</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;">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;">0.16% </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;">183,316</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;">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>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% 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;">186,594</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;">310 </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;">0.17% </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;">174,301</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;">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:9.0pt;">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:9.0pt;">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:9.0pt;">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:9.0pt;">0.19% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% 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;">8,816</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 </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;">0.05% </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;">9,015</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</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;">0.07% </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:9.0pt;">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:9.0pt;">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:9.0pt;">0.16% </font></i></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;">&#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;">192,153</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;">3,593 </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;">192,741</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;">6,748</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:9.0pt;">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>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% 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;">11,518</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;">115 </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;">1.00% </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;">9,505</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;">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:9.0pt;">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:9.0pt;">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:9.0pt;">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:9.0pt;">1.21% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% 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;">180,636</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;">3,478 </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;">1.93% </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;">183,236</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;">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:9.0pt;">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:9.0pt;">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:9.0pt;">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:9.0pt;">3.37% </font></i></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;">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;">78,260</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;">1,541 </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;">1.97% </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;">77,438</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;">1,884</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>
 </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;">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;">142,056</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;">823 </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;">0.58% </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;">123,053</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;">982</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;">0.80% </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;">114,695</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;">1,165</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;">1.02% </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 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;">679,158</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;">7,797 </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;">1.15% </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;">637,833</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;">11,973</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;">1.88% </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;">625,745</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;">11,669</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;">1.86% </font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">50,675</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;">54,964</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=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=29% 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:9.0pt;">729,833</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;">7,797 </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;">1.07%</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;">692,798</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;">11,973</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;">1.73%</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;">677,951</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;">11,669</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;">1.72%</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; 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; 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:.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; Foreign activity represented 39.29% of the total
average liabilities for the year ended December 31, 2020, 41.92% for the year
ended December 31, 2019 and 47.61% for 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%;">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">
<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, 2020 compared with the year ended
December 31, 2019, and the year ended December 31, 2019 compared with the year
ended December 31, 2018. 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.</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:11.45pt;">
  <td nowrap valign=bottom width=46% 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 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:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2020 / 2019 </font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap valign=bottom width=46% 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 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:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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:11.45pt;">
  <td nowrap valign=bottom width=46% 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 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:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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:11.45pt;">
  <td nowrap valign=bottom width=46% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin: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:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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=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;"><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: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 nowrap valign=bottom width=18% 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:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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: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;">78</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;">(266)</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;">(188)</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;">590</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;">(1,787)</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;">(1,197)</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;">(18)</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;">(85)</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;">(103)</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;">181</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;">(466)</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;">(285)</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;">(431)</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;">(3,377)</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;">(3,808)</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;">(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;">(331)</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;">(342)</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;">(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;">(336)</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;">(346)</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;">-</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;">4</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;">4</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;">(636)</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;">(2,830)</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;">(3,466)</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;">119</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;">(281)</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;">(162)</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;">(1,019)</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;">(2,285)</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;">(3,304)</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;">27</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;">180</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;">208</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;">(5,373)</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;">346</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;">(944)</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;">(598)</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;">214</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;">(3,290)</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;">(3,077)</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;">16</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;">63</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;">79</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;">16</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;">64</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;">80</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;">-</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;">(2)</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;">(2)</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;">(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;">(3,135)</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;">(3,155)</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;">38</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;">(100)</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>
 </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;">(93)</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;">(2,999)</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;">(3,093)</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;">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;">(363)</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;">(343)</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;">152</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;">(310)</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;">(158)</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;">(4,175)</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;">(1,197)</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; 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; 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>

</DIV>
</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">

<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;">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:12.0pt;">
  <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;">11</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;">111</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;">121</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;">206</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(433)</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;">(227)</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;">(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;">29</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;">9</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;">175</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;">150</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;">(50)</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;">748</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;">698</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;">(31)</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;">21</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;">(10)</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;">(22)</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;">90</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;">68</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;">(6)</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;">(72)</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;">(78)</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;">58</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;">650</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;">708</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" 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;">131</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;">(41)</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;">90</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;">(273)</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;">891</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;">618</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;">(2)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">60</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;">58</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;">808</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;">(127)</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;">57</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(69)</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;">106</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">320</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;">426</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;">9</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;">(110)</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;">(101)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" 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;">(103)</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;">(93)</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;">(0)</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;">(8)</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;">(8)</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;">34</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">493</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;">526</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;">(15)</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;">62</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;">47</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;">76</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;">403</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;">479</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;">35</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">96</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;">131</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;">85</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;">(268)</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;">(183)</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;">303</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;">504</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;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">The volume effect is calculated as the result of the average
interest rate of the earlier period multiplied by the difference between the
average balances of both periods.</font></font></p>

<p style="border:none;margin-bottom: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; 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:15.0pt;">
  <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 valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2020</font></b></font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2018</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;">680,047</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;">646,841</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;">631,608</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;">3.3%</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;">4.3%</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;">4.3%</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;">3.1%</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;">4.0%</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4.0%</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
  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;">1.5%</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;">2.3%</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;">2.3%</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 (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;">1.8%</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;">2.0%</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;">2.0%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;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; &#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;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: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;&#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>

</DIV>
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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ASSETS</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;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See the introduction to &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Selected
Statistical Information</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; for information on the impact of the planned sale
of BBVA USA on the information reported 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;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, 2020, interbank deposits
(excluding deposits with central banks) represented 4.8% of our total assets.
Of such interbank deposits, 18.6% were held outside of Spain and 81.4% in
Spain. We believe that our deposits are generally placed with highly rated
banks and have a lower risk than many loans we could make in Spain. However,
such deposits are subject to the risk that the deposit banks may fail or the
banking system of certain of the countries in which a portion of our deposits
are made may face liquidity or other problems.</font></font></p>

<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, 2020, 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;137,515 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;34,116 million, or 24.8%, 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 2020 on the investment
securities that BBVA held was 3.3%, compared with an average yield of approximately
</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2.0</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% earned on loans and advances during 2020. 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, 2020, 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;">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, 2020,
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 second table in
Note 13.3 to our Consolidated Financial Statements shows the fair value of debt
securities recorded, as of December 31, 2020, 2019 and 2018, under &#8220;Financial
assets at fair value through other comprehensive income&#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, 2020, 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 joint ventures and associates, see Note 16 to our
Consolidated Financial Statements. For a discussion of the manner in which we
value our securities, see Notes 2.2.1 and 8 to our Consolidated Financial
Statements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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, 2020.</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;">&nbsp;</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 style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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_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;">12,413</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;">0.16</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;">10,359</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;">1.58</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;">4,064</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;">4.31</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;">2,532</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;">29,367</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;">520</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;">3.14</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;">1,216</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;">1.20</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;">468</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;">2.32</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;">141</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;">4.61</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;">2,345</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;">12,932</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;">0.28</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;">11,576</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;">1.54</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;">4,531</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;">4.10</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;">2,673</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;">3.67</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;">31,712</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;">272</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;">5.17</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;">5,673</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;">4.96</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;">3,402</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;">4.36</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;">48</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;">5.72</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;">9,395</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;">92</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;">6.29</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;">5,267</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;">3,186</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;">4.30</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;">35</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;">6.41</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;">8,580</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;">180</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;">4.59</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;">406</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;">4.94</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;">216</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;">5.30</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">14</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;">3.95</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;">816</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;">2,514</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;">1.31</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;">1,111</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;">2.21</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;">754</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;">2.38</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;">312</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;">5.34</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;">4,691</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;">2,312</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;">1.26</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=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;">3</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;">0.63</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;">2,315</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;">-</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;">-</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;">-</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;">-</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;">-</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;">202</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;">2.07</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;">1,111</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;">2.21</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;">750</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;">2.39</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;">312</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;">5.34</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;">2,376</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;">495</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;">10.33</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;">2,036</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;">12.58</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;">858</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;">11.74</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;">85</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;">3,473</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;">495</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;">10.33</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;">2,036</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;">12.58</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;">858</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;">11.74</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;">85</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;">3,473</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;">5,811</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;">7.62</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;">8,242</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;">2.81</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;">3,066</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;">1.78</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;">1,917</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;">3.86</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;">19,037</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;">3,551</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;">0.37</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;">4,583</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;">3.28</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;">1,508</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;">1.53</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;">1,302</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;">4.12</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;">10,943</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;">2,260</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;">19.06</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;">3,660</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;">2.23</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;">1,559</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;">1.99</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;">616</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;">3.34</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;">8,094</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;">9,092</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;">6.17</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;">17,062</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;">4.67</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;">8,079</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 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;">2,363</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;">4.21</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;">36,596</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;">22,024</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;">2.58</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;">28,637</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;">3.39</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;">12,611</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;">4.09</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;">5,036</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;">3.92</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;">68,308</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;">95</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;">2.95</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;">956</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;">1.11</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;">10,858</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;">1.33</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;">1,748</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;">0.85</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;">13,656</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;">2,133</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 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;">2,496</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;">0.10</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;">123</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;">1.13</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;">84</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 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;">4,835</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;">2,228</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;">0.13</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;">3,452</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;">0.38</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;">10,980</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;">1.33</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;">1,831</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;">0.81</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;">18,492</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;">691</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;">6.63</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;">2,297</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;">6.19</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;">826</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;">4.37</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;">3,956</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;">3.94</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;">7,771</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;">634</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;">6.88</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;">2,266</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;">6.22</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;">611</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;">4.52</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;">3,452</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;">3.94</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;">6,963</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;">57</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;">3.94</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;">31</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;">3.94</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;">3.94</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;">504</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;">3.94</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;">808</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;">9</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;">3.94</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;">9</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;">3.94</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;">34</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;">1.24</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;">-</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;">-</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;">51</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;">6</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;">6</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;">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;">-</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;">14</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;">-</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=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=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=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;">-</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;">3</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;">3.94</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</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;">3.94</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;">31</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;">1.24</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;">-</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;">-</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;">37</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;">384</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;">9.90</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;">2,301</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;">10.80</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;">942</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;">10.78</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;">3,628</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;">378</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;">10.07</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;">2,301</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;">10.79</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;">942</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;">10.78</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;">-</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;">-</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;">3,621</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;">6</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;">1</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;">7</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;">950</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;">1.65</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;">1,007</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;">1.94</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;">3,697</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=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;">141</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;">4.49</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;">5,795</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;">324</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;">520</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;">2.50</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;">3,489</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;">2.58</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;">141</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;">4.49</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;">4,473</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;">626</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;">1.68</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;">487</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;">1.31</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;">208</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;">1.93</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;">-</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;">-</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;">1,322</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;">2,034</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;">5.06</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;">5,615</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;">7.61</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;">5,499</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;">4.26</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;">4,097</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;">3.95</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;">17,245</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;">4,262</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;">2.42</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;">9,067</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;">4.77</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;">16,479</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;">2.30</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;">5,928</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;">2.96</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;">35,737</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;">26,286</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;">2.55</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;">37,705</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;">3.72</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;">29,090</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;">3.08</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;">10,964</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;">3.40</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;">104,044</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>




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

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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: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</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;">In 2020,
the Group&#8217;s loan activity has been affected by the COVID-19 pandemic, which
resulted in a decrease in global activity driven by mandatory lock-downs and
consumer caution. See &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 5. Operating and Financial Review and
Prospects&#8213;Operating Results&#8213;Factors Affecting the Comparability of
our Results of Operations and Financial Condition&#8213;The COVID-19 Pandemic</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;
and Notes 1.5 and 7.2 to our Consolidated Financial Statements for additional
information on the impact of the COVID-19 pandemic on our financial condition
and results of operations. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In
addition, the year-on-year variation in reported &#8220;Loans and advances&#8221; has been
significantly affected by the USA Sale. In particular, loans and advances of
BBVA USA and other companies included within the scope of the USA Sale have
been recorded as &#8220;Non-current assets and disposal groups classified as held for
sale&#8221; in the consolidated balance sheet as of December 31, 2020, while they are
shown under &#8220;Loans and advances&#8221; in the consolidated balance sheets as of
December 31, 2019 and 2018 (and, where applicable, prior years). 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;Agreement for the sale of BBVA USA Bancshares, Inc.</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Moreover,
during 2020, the currencies of the main countries where the BBVA Group operates
depreciated against the euro in terms of period-end exchange rates. See &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item
5. Operating and Financial Review and Prospects&#8213;Operating
Results&#8213;Factors Affecting the Comparability of our Results of Operations
and Financial Condition&#8213;Trends in Exchange Rates</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Loans
and Advances to Credit Institutions and Central Banks</font></i></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;">As
of December 31, 2020, our total loans and advances to credit institutions and
central banks amounted to &#8364;41,368 million, or 5.6% of total assets, of which
total loans and advances to credit institutions and central banks at amortized
cost amounted to &#8364;20,820 million, or 2.8% of total assets. Net of our loss
allowances, total loans and advances to credit institutions and central banks
at amortized cost amounted to &#8364;20,784 million as of December 31, 2020, or 2.8%
of total 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;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Loans
and Advances to Customers</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2020, our total loans and advances
to customers amounted to &#8364;336,056 million, or 45.6% of total assets. Net of our
loss allowances, total loans and advances to customers amounted to &#8364;323,951
million as of December 31, 2020, or 44.00% of our total assets, a decline from
56.7% of our total assets as of December 31, 2019. As of December 31, 2020 our
total loans and advances to customers in Spain amounted to &#8364;166,905 million.
Our total loans and advances to customers outside Spain amounted to &#8364;169,150
million as of December 31, 2020, down from &#8364;243,332 million as of December 31,
2019 mainly due to the USA Sale and the depreciation of the currencies of the
main countries where the BBVA Group operates.
</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%;">73</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_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>


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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;"><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:15.0pt;">
  <td nowrap valign=bottom width=24% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:15.0pt;">
  <td nowrap valign=bottom width=24% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2020</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=24% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;">166,905</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;">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>
 </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;">27,729</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;">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>
 </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 (1)</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;">6,654</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;">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>
 </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;">54,663</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;">61,455</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>
 </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;">36,748</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;">40,230</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>
 </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;">37,192</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;">39,091</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>
 </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;">6,165</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;">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>
 </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;">169,150</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;">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>
 </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;">336,056</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;">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>
 </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;">(12,105)</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;">(12,402)</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>
 </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 (2)</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;">323,951</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;">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>
 </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;Balance as of December 31, 2020
corresponds to subsidiaries in the United States not included within the scope
of the USA Sale.</font></font></p>

<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;">(2)&#160; As of December 31, 2020, 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 and 2016, includes loans and
advances to customers reported as &#8220;Financial assets held for trading&#8221; and
&#8220;Loans and receivables&#8221;.</font></font></p>

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

<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;">&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%;">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:</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;">2020</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;">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=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;">2016</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;">16,456</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=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;">20,741</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;">1,268</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=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;">1,076</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;">14,946</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=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;">13,670</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;">9,452</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=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;">15,179</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;">9,640</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=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;">13,111</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;">95,136</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=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;">102,299</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;">20,007</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=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;">16,415</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;">166,905</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=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;">182,492</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;">24,415</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=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;">14,132</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;">2,169</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=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;">3,236</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;">37,631</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=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;">43,402</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;">10,570</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=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;">21,822</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;">14,954</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;">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=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;">33,933</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;">56,358</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=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;">89,981</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;">23,054</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=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;">41,630</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;">169,150</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=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;">248,137</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;">336,056</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=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;">430,629</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;">(12,105)</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=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;">(15,974)</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;">323,951</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=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;">414,655</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, 2020, 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 and 2016, 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, 2020, 2019, 2018, 2017 and 2016:</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;">2020</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;">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>
 </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;">188,729</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;">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>
 </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;">135,221</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;">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>
 </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;">323,951</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;">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>
 </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, 2020, 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 and 2016, 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, 2020, total loans and advances by BBVA
and its subsidiaries to associates and jointly controlled companies amounted to
&#8364;1,743 million, compared with &#8364;1,682 million as of December&nbsp;31, 2019.
Loans and advances outstanding to the Spanish government and its agencies
amounted to &#8364;16,456 million, or 4.9% of our total loans and advances to
customers as of December 31, 2020, compared with the &#8364;14,477 million, or 3.5%
of our total loans and advances to customers as of December 31, 2019. 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, 2020</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;16,604</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 4.9% 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, 2020</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;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 type of customer as of December
31, 2020. 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:25.5pt;">
  <td nowrap valign=bottom width=30% 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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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: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;"><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: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;"><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: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;"><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;">6,524</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;">5,782</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;">4,150</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;">16,456</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;">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;">722</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;">202</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;">1,268</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;">5,923</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;">6,723</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;">2,300</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;">14,946</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;">1,667</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;">4,118</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;">3,667</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;">9,452</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;">3,617</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;">4,865</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;">1,158</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;">9,640</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;">11,356</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;">24,653</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;">59,127</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;">95,136</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;">6,460</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;">10,494</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;">3,054</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;">20,007</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 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;">35,892</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;">57,356</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;">73,657</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;">166,905</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;">14,493</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;">3,606</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;">6,317</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;">24,415</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;">1,207</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;">762</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;">200</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;">2,169</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;">16,316</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;">14,651</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;">6,663</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;">37,631</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;">3,591</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;">2,998</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;">3,980</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;">10,570</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;">7,858</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;">6,232</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;">864</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;">14,954</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;">9,028</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;">22,870</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;">24,460</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;">56,358</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;">8,762</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;">10,328</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;">3,963</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;">23,054</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;">61,255</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;">61,448</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;">46,447</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;">169,150</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;">97,147</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;">118,804</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;">120,105</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;">336,056</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, 2020.</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;"><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%;">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:0cm;text-align: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, 2020 and 2019 refers to customers, central banks and credit
institutions and information as of December 31, 2018, 2017 and 2016 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: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 width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2020</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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;">2017</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=34% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin: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: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 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 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 beginning of period:</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:15.0pt;">
  <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;">7,496</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=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;">6,903</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>
 </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;">-</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=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;">12,427</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=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;">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>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=34% style="height:6.95pt;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:6.95pt;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:6.95pt;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:6.95pt;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:6.95pt;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:6.95pt;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;">(495)</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=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;">(3,709)</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>
 </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;">(2,073)</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=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;">(2,330)</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>
 </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;">(2,568)</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=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;">(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>
 </tr>
<tr style="height:3.6pt;">
  <td nowrap valign=bottom width=34% style="height:3.6pt;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 valign=bottom width=14% style="height:3.6pt;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:3.6pt;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:3.6pt;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:3.6pt;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:3.6pt;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;">1,289</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=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;">1,155</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>
 </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;">3,605</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=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;">3,078</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>
 </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;">4,894</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=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;">4,233</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>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap valign=bottom width=34% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=14% style="height:6.95pt;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:6.95pt;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:6.95pt;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:6.95pt;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:6.95pt;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</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;">(1,123)</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=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;">(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>
 </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;">(1,204)</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=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;">(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>
 </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;">(285)</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=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;">(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>
 </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;">(2,612)</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=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;">(1,426)</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>
 </tr>
<tr style="height:6.0pt;">
  <td nowrap valign=bottom width=34% style="height:6.0pt;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:6.0pt;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:6.0pt;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:6.0pt;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:6.0pt;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:6.0pt;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;">5,362</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 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;">5,774</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;">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>
 </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;">6,779</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 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;">6,437</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;">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>
 </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;">12,141</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 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;">12,211</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;">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>
 </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;">3.66%</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=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;">3.09%</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>
 </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;">0.77%</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=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;">1.46%</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>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:32.2pt;margin-right:0cm;margin-top:3.0pt;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;">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 2020, 2019, 2018,
2017 and 2016 were mainly related to the real estate sector.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;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;2,568 million
during the year ended December 31, 2020, compared with &#8364;3,256 million during
the year ended December 31, 2019, mainly as a result of the decrease in loans
charged off in Spain, as a result of moratorium measures for bank customers adopted
in light of COVID-19 and the depreciation of the currencies of the main
countries where the BBVA Group operates.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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 increased to 3.66% as of December 31, 2020 compared with
3.10% 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%;">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">
<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 2020, 2019, 2018, 2017 and 2016 was &#8364;249.1 million,
&#8364;301.6 million, &#8364;310.5 million, &#8364;347.4 million and &#8364;264.2 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;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 to 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:8.0pt;">&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:8.0pt;">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:8.0pt;">&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:8.0pt;">2020</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: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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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:8.0pt;">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:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=38% 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=5 nowrap width=62% 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:15.75pt;">
  <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:8.0pt;">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:8.0pt;">&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:8.0pt;">&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:8.0pt;">&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:8.0pt;">&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:8.0pt;">&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:8.0pt;">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:8.0pt;">7,823</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:8.0pt;">8,104</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:8.0pt;">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:8.0pt;">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:8.0pt;">16,360</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:8.0pt;">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:8.0pt;">68</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:8.0pt;">86</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:8.0pt;">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:8.0pt;">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:8.0pt;">270</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:8.0pt;">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:8.0pt;">7,755</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:8.0pt;">8,018</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:8.0pt;">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:8.0pt;">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:8.0pt;">16,090</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:8.0pt;">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:8.0pt;">6,855</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:8.0pt;">7,855</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:8.0pt;">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:8.0pt;">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:8.0pt;">6,565</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:8.0pt;">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: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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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:8.0pt;">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:8.0pt;">42</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:8.0pt;">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:8.0pt;">6,847</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:8.0pt;">7,853</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:8.0pt;">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:8.0pt;">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:8.0pt;">6,523</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:8.0pt;">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:8.0pt;">14,678</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:8.0pt;">15,959</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:8.0pt;">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:8.0pt;">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:8.0pt;">22,925</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:8.0pt;">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:8.0pt;">(12,141)</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:8.0pt;">(12,427)</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:8.0pt;">(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:8.0pt;">(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:8.0pt;">(16,016)</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:8.0pt;">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:8.0pt;">2,537</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:8.0pt;">3,533</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:8.0pt;">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:8.0pt;">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:8.0pt;">6,909</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:8.0pt;">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:8.0pt;">4.42%</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:8.0pt;">3.99%</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:8.0pt;">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:8.0pt;">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:8.0pt;">4.92%</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:8.0pt;">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:8.0pt;">0.76%</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:8.0pt;">0.88%</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:8.0pt;">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:8.0pt;">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:8.0pt;">1.48%</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;14,678 million as of December 31, 2020, an 8.0% decrease compared
with &#8364;15,959 million as of December 31, 2019. This decrease was mainly
attributable to </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the reduction in impaired </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">loans
from households, as a result of the moratorium measures for bank customers
adopted in light of COVID-19, and, to a lesser extent, the reclassification of
the balance of BBVA USA and the other companies falling within the scope of the
USA Sale to &#8220;Non-current assets and disposal groups classified as held for
sale&#8221; of our consolidated balance sheet as of December 31, 2020. </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;">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, 2020, the loan
loss reserve amounted to &#8364;12,141 million, a 2.3% decrease compared with the
&#8364;12,427 million recorded 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;">mainly due </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">to
the </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">positive impact of changes in exchange rates on
foreign currency positions</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and the reclassification of the balance of
BBVA USA and the other companies falling within the scope of the USA Sale to
&#8220;Non-current assets and disposal groups classified as held for sale&#8221; of our
consolidated balance sheet as of December 31, 2020. The decrease was offset, in
part, by higher provisions for possible loan losses in Spain, in light of the
uncertainty associated with the pace of economic recovery.
</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: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
following tables provide information regarding impaired loans to customers,
central banks and credit institutions recorded under &#8220;Financial assets at
amortized cost&#8221; and loan loss reserve taken for each loan category, as of
December 31, 2020 and 2019, 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:40.5pt;">
  <td nowrap valign=bottom width=51% style="height:40.5pt;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;">2020</font></b></font></p>
  </td>
 <td valign=bottom width=17% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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: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 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: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 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 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">68</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;">(32)</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;">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;">7,755</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;">(5,319)</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;">5.15%</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;">61</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;">(38)</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;">4.83%</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;">664</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;">(440)</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;">4.44%</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;">722</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;">(490)</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;">7.64%</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;">862</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;">(608)</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;">8.95%</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;">4,361</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;">(2,686)</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;">4.58%</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;">1,084</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;">(1,057)</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;">5.42%</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;">7,823</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;">(5,351)</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;">4.69%</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;">8</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;">(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;">0.03%</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 11.0pt;">
  <p style="border:none;margin:0cm;margin-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;">(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;">0.04%</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;">6,842</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;">(6,738)</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;">4.73%</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;">71</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;">(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;">3.25%</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;">1,477</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;">(1,273)</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;">3.93%</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;">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;">675</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;">(232)</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;">6.39%</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;">717</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;">(747)</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;">4.79%</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;">2,745</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;">(3,209)</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;">4.87%</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;">1,156</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;">(1,207)</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;">5.02%</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;">6,855</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;">(6,790)</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;">4.05%</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;">14,678</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;">(12,141)</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;">4.37%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top: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%;">80</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_86"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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:38.45pt;">
  <td nowrap valign=bottom width=51% style="height:38.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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:38.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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:38.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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:38.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;">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 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;">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 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 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 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 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 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 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 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 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 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 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 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 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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 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;">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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 recorded under &#8220;Financial assets at amortized cost&#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-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, 2020,
of the total troubled debt restructurings of &#8364;16,699 million, &#8364;7,659 million
were not considered impaired loans. See Note 7.2 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 ratios
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 Leisure, Automotive and Real Estate sectors
have been among the most affected by the COVID-19 pandemic and they are the
sectors that have most relied on payment deferrals granted by BBVA (see </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 5. Operating and Financial Review and
Prospects&#8213;Operating Results&#8213;Factors Affecting the Comparability of
our Results of Operations and Financial Condition&#8213;The COVID-19 Pandemic</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)</font><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;">See Note 7.2 to our Consolidated Financial Statements for
additional information.</font></font><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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">7.6%&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> as of December 31, 2020
(compared with 12.3% as of December 31, 2019), the average non-performing asset
ratio for all of our domestic activities was 4.7% as of December 31, 2020
(compared with 4.9% as of December 31, 2019) and the average non-performing
asset ratio for all of our consolidated activities was 4.4% as of December 31,
2020 (compared with 3.8% as of December 31, 2019). Within such portfolio,
construction loans and property development loans (which exclude mainly
infrastructure and civil construction) had a non-performing asset ratio of 7.7%
as of December 31, 2020 (compared with 9.0% as of December 31, 2019).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In light
of the COVID-19 outbreak, various national and supranational supervisory
authorities have </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">published
considerations to be taken into account</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> regarding the accounting policy to be applied
with respect to potential problem loans, providing the option to suspend the
application of accounting guidance for potential problem loans, for a limited
period of time, with respect to loans affected by moratoria or other relief
measures adopted by authorities to address the effects of the COVID-19
pandemic. See Notes 1.5 and 7.2 to our Consolidated Financial Statements. See
also &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 5. Operating and Financial Review and Prospects&#8213;Operating
Results</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8213;</font><i><font color=black 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&#8213;The COVID-19 Pandemic</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;&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;"><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, 2020, 2019 and 2018.
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:15.0pt;">
  <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=2 nowrap width=26% 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;">2020</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=26% 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;">2019</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=25% 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;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td nowrap width=23% style="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=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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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:4.5pt;">
  <td nowrap width=23% style="height:4.5pt;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:4.5pt;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=13% style="height:4.5pt;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=13% style="height:4.5pt;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=13% style="height:4.5pt;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=13% style="height:4.5pt;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=12% style="height:4.5pt;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>
 </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;">7,107</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;">1.0%</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 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=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;">1.1%</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;"><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;">1,128</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">3,265</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;">0.4%</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" 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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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;">9,715</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;">1.3%</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=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;">21,215</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;">2.9%</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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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;">3,142</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;">3,323</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=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;">0.4%</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;">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;">7,329</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;">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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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;">31,686</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;">4.3%</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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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%;">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">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;"><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, 2020, 2019, and 2018 by type of borrower where outstandings in the
borrower&#8217;s country exceeded 1% of our total assets.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E46.2" style="border-collapse:collapse;width:100%;">
 <tr style="height:36.0pt;">
  <td nowrap 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 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: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:9.0pt;">Governments</font></b></font></p>
  </td>
 <td width=17% 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: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: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:9.0pt;">Commercial,
  Industrial and Other</font></b></font></p>
  </td>
 <td width=17% 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: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, 2020</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;">44</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;">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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,080</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;">1,128</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;">559</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;">2,422</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;">3,265</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;">6,204</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;">904</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;">7,107</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;">603</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;">6,491</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;">4,406</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;">11,500</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=32% style="height:11.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-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:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-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:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-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:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-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, 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: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;">-</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;">5,246</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;">839</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;">6,086</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:8.1pt;">
  <td nowrap width=32% style="height:8.1pt;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:8.1pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-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:8.1pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-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:8.1pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-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:8.1pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-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, 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: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;">22</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;">6,215</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
</table></div>



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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;"><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%;">83</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_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;text-align: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;360 million, &#8364;184
million and &#8364;100 million as of December 31, 2020, 2019 and 2018, respectively.
These figures do not reflect loan loss reserves of 8.3%, 12.5% and 38.0%,
respectively, of the relevant amounts outstanding at such dates. Deposits with
or loans to borrowers in all such countries as of December 31, 2020 did not in
the aggregate exceed 0.05% 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, 2020, 2019 and 2018 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, 2020, 2019 and 2018
amounted to $50 million, $73 million and $90 million, respectively
(approximately &#8364;41 million, &#8364;65 million and &#8364;78 million, respectively, based on
a euro/dollar exchange rate on December 31, 2020 of $1.00 = &#8364;0.81, on December
31, 2019 of $1.00 = &#8364;0.89 and on December 31, 2018 of $1.00 = &#8364;0.87).</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:0cm;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See
the introduction to &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Selected Statistical Information&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> for information
on the impact of the planned sale of BBVA USA on the information reported
below.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:18.0pt;"><font style="border:none;"><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-indent:18.0pt;"><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:15.0pt;">
  <td nowrap valign=bottom width=24% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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,
  2020</font></b></font></p>
  </td>
 </tr>
<tr style="height:31.5pt;">
  <td nowrap valign=bottom width=24% 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=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;">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=24% 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=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;">188,757 </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;">37,822 </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;">1,751</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;">228,330</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;">21,427 </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;">207 </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;">11,444</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;">33,078</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;">-</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;">82 </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;">82 </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;">54,398 </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;">3,422 </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;">1,549</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;">59,370</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;">34,621 </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;">215 </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;">617</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;">35,453</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;">36,989 </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;">3,428 </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;">2,041</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;">42,458</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;">6,468 </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;">10,228</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;">16,696</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;">153,904</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;">7,355</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;">25,878</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;">187,137</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;">342,661</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;">45,177</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;">27,629</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;">415,467</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:15.0pt;">
  <td nowrap valign=bottom width=24% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:31.5pt;">
  <td nowrap valign=bottom width=24% 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=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;">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 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;">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="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;">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:15.0pt;">
  <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;">1,801 </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;">4,568</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;">6,369</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>




<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;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>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;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,
  2018</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;">166,403 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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=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;">22,077 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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=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;">62,539 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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=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;">50,991 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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=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;">33,427 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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=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;">37,970 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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=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;">2,563 </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;">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=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;">209,567</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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=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;">375,970</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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>



<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;">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, 2020, 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,
  2020</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;">3,799</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;">22,584</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;">26,383</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;">1,883</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;">2,708</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;">4,590</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;">2,960</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;">2,083</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;">5,043</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;">2,746</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;">898</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;">3,644</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;">11,388</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;">28,272</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;">39,659</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;16,079 million as of December 31, 2020, 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, 2020, 2019 and 2018 see Note 22 to our Consolidated Financial
Statements.</font></font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font 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: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;">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, 2020, 2019 and 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;"><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, 2020, 2019 and 2018:</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:20.45pt;">
  <td valign=bottom width=37% style="background:white;height:20.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin: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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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, 2020 (1)</font></b></font></p>
  </td>
 <td valign=bottom width=3% style="background:white;height:20.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin: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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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 nowrap valign=bottom width=2% style="height:20.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin: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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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>
 </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 valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></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: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;">43,543</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;">1.0%</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;">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=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;">16,524</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;">4.3%</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;">50,100</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;">1.1%</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;">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=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;">16,836</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;">4.7%</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;">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;">55,156</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;">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=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;">17,155</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;">1,454</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;">0.1%</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;">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=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;">449</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;">3.1%</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;">1,094</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;">0.1%</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;">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=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;">580</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;">1.6%</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;">1,454</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;">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=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;">1,036</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;">10,546</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;">1.3%</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">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=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;">5,633</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;">3.6%</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;">12,076</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;">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=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;">4,775</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;">4.6%</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;">12,928</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;">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=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;">5,633</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;">55,543</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;">1.0%</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;">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=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;">22,606</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;">4.1%</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, 2020 and 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, 2020, 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. </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:0cm;margin-bottom:.0001pt;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;">Shareholders&#8217; equity</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">&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;">As of December 31, 2020, shareholders&#8217; equity
amounted to &#8364;50,020 million, an 8.9% decrease compared to the &#8364;54,925 million
recorded as of December 31, 2019, mainly as a result of the increase in
accumulated other comprehensive loss.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;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;"><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;">As of December 31, 2020, the accumulated other
comprehensive loss amounted to &#8364;14,356 million, a 40.4% increase compared to
the &#8364;10,226 million recorded as of December 31, 2019, mainly as a result of the
adverse impact of the depreciation of the currencies of the main countries
where the BBVA Group operates (in particular, the Mexican peso, the U.S. dollar
and the Turkish lira) on &#8220;Foreign currency translation&#8221;. As of December 31,
2018, the accumulated other comprehensive loss amounted to &#8364;10,223 million.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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>


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</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">
<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.&nbsp;&nbsp; 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;line-height:107%;">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;line-height:107%;">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. 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
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;line-height:107%;">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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-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:107%;">Another
significant trend in the market is consolidation. Following the prior global
financial crisis, a number of banks disappeared or were absorbed by other
banks. We believe that the COVID-19 crisis may result in a number of mergers
and acquisitions between financial entities in the regions where the Group
operates, as recently seen 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;line-height:107%;">Additional
information on certain market dynamics affecting the four main countries where
we operate is provided 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;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:107%;">Spain</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;line-height:107%;">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, several M&amp;A
transactions have taken place in the Spanish banking system over the past 3-4
years. In this vein, 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. In January 2018, the merger between Bankia and
Banco Mare Nostrum (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:107%;">BMN</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:107%;">&#8221;) was completed. More recently, in September
2020 the merger between Caixabank and Bankia was announced, which creates the
largest bank in Spain in terms of total assets. This transaction is expected to
close during the first quarter of 2021 once all regulatory authorizations have
been received. Finally, the merger between Unicaja and Liberbank was announced
in December 2020. This transaction will create Spain&#8217;s fifth largest bank in
terms of total 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="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">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-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:107%;">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 2.7% since the outbreak of the COVID-19 crisis in March
2020, barely exceeding credit costs. Since the outbreak of the crisis in the
first quarter of 2020, public support measures have been introduced in Spain,
particularly in the form of public guarantees on new loans to corporates and
SMEs and moratoria and payment holidays on certain loans. The former has
resulted in decreased competition in the SME loans segment. However, these
public guarantees will be lifted in the future, which will likely increase
competition levels again. More broadly, the end of the COVID-19 related public
relief measures might result in a deterioration in the credit quality of
borrowers, especially SMEs, which might require the recording of high loan-loss
provisions by banks.</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;line-height:107%;">In
the aftermath of the prior global 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, and money market
mutual funds provide strong competition for savings deposits and, in the case
of savings banks, for other retail banking services. More recently, the
liquidity programs implemented by the ECB have resulted in a much lower
dependence on customer deposits, which has in turn lowered the level of
competition for deposits in Spain.<a name=gjdgxs></a><a name="gjdgxs_bclEnd"></a></font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:107%;">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;line-height:107%;">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 have been 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;line-height:107%;">&#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;line-height:107%;">.&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: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:107%;">United States</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;line-height:107%;">The
U.S. banking system&#8217;s performance in 2020 deteriorated significantly compared
to 2019. However, in light of the unprecedented contraction of economic output
due to the COVID-19 pandemic, the system remained resilient. While
profitability was adversely affected primarily by the large loan loss
provisions, credit quality did not deteriorate as much as in previous
recessions due to the forceful and large monetary and fiscal support that the
economy received early into the pandemic-induced downturn. During the first
three quarters of 2020, net interest income for all FDIC-insured commercial
banks fell by 4.2% year-on-year, while non-interest income and expenses
remained on their pre-crisis trajectory. At the same time, provisions for loan
and lease losses increased by more than 3.5 times, and as a result, net income
reached only 48% of the level achieved in the same period in 2019. Return on
assets and return on equity declined to their lowest levels since 2009. The core
capital ratio of FDIC-insured commercial banks declined from 9.6% in the fourth
quarter of 2019 to 8.7% and 8.8% in the second and third quarter of 2020,
respectively, the lowest since 2010. Going forward, we expect commercial banks
to benefit from the economic recovery and any subsequent round of stimulus,
while at the same time remaining somewhat challenged by the low interest rate
environment that will likely persist for a number of years going forward.</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:107%;">Mexico</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;line-height:107%;">In
Mexico, the banking sector had a capitalization ratio of 17.4% in October 2020
(higher than the ratio reported in October 2019 of 16.1%) (in each case
considering the group of entities of &#8220;banca m&#250;ltiple&#8221; operating in Mexico). On
October 31, 2020, the Mexican banking sector had 50 operating banks, one less
than the previous 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;line-height:107%;">The
growth of total bank lending to the non-financial private sector in Mexico
decreased from an annual nominal average growth rate of 8.8% from January to
November of 2019 to 5.2% in the same period of 2020. The negative impact of the
COVID-19 pandemic over economic activity and formal employment deepened the
slowdown in private sector credit that was already evident at the end of 2019.
After a short rebound in the first months of the pandemic (boosted by liquidity
needs), corporate lending lost momentum and registered its first contraction
since February 2010 in November (-0.9%). The reduction of private investment
was reflected in a weak corporate credit demand, so that the average growth
rate of corporate loans was 6.9% from January to November of 2020, below the
9.2% reached in the same period of the previous 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;line-height:107%;">&#160;Credit
to consumers also decreased its annual nominal average growth rate from 6.1% in
January to November 2019 to -2.3% in the same period of 2020. Consumer credit
experienced seven months of contraction (starting in May 2020), reaching a
double digit fall of -10.7% in November 2020. Mobility restrictions (which
limit consumption opportunities), the fall of formal employment (and therefore
household income) as well as consumer caution as a response to the uncertainty
associated with the pace of economic recovery, contributed to deteriorate the
dynamism of this type of loans.</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;line-height:107%;">&#160;Mortgage
lending was the only category of commercial bank credit which ended 2020
without a contraction, with an average nominal growth rate of 9.3% in January
to November 2020, slightly below the rate of 10.5% in the same period of 2019.
This credit portfolio was able to maintain some dynamism due to both low and
stable long-term interest rates and the lagged impact of the increase in the
number of formal workers in previous years, since potential clients of this
type of credit must prove a minimum time in service to obtain a mortgage.
However, due to this deferred effect, the negative impact of job losses as a
result of the COVID-19 pandemic is expected to affect the performance of this
portfolio for some time. </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;line-height:107%;">Bank
deposits in Mexico increased in 2020 as a result of the shift from consumption
to savings due to the COVID-19 pandemic. Traditional bank deposits (sight
deposits and term deposits) had an average annual growth rate of 11.4% in
nominal terms between January and November 2020, which represented a 4.3 p.p.
increase in comparison with the same period of 2019. This significant increase
was underpinned mainly by the increase of sight deposits, which grew at an
average annual growth rate of 15.7% between January and November 2020. It is
worth noting that the resilience of sight deposits in a recessionary
environment (stemming from the low unemployment rate among medium and
high-income earners) coupled with a slump in consumption, led to a sharp
increase in liquid deposits.&#160; </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_95"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-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:107%;">On the other hand, term deposits slowed down
sharply as the economic recession and the drop in benchmark interest rates took
their toll on medium-term savings. In fact, the nominal growth of term deposits
halved in 2020 with respect to 2019 as the average annual nominal growth rate
during the last eleven months of the year decreased to 5.2%. Finally, the growth
of deposits in debt investment funds was hit too as the economy slumped, the
Mexican peso depreciated and the demand for liquid assets rose. As a result the
average annual growth rate of deposits in debt investment funds dropped from
10.4% between January and November 2019 to 5.9% during the same period of
2020.&#160; </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;line-height:107%;">Throughout
2020, regulatory activity increased driven by measures taken to tackle
COVID-19&#8217;s impact on banking activity. BANXICO issued several rules aimed at
promoting the orderly behavior of financial markets, providing markets with
liquidity and facilitating the granting of credit by banks with a specific
focus on SMEs. Meanwhile, the CNBV issued special accounting standards enabling
banks to offer grace periods and avoid considering loans overdue in the context
of the pandemic.</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;line-height:107%;">Later
on, the CNBV issued a framework for loan restructuring which provided for
beneficial treatment in terms of capital and reserves for banks willing to
offer loan-restructuring under certain conditions specified by the regulator. </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;line-height:107%;">In
December, the Federal Economic Competition Commission published a preliminary
opinion on its investigation regarding the card payments&#8217; market identifying
four potential barriers to competition that prevent the entry and increase
costs for new market participants that hinder innovation and investment and
increase merchant acquisition costs. Among other measures, COFECE could order
that banks divest at least 51% of their stakes in card payment clearing houses
(Prosa and E-Global), and the preliminary opinion recommends that BANXICO and
the CNBV eliminate regulatory obstacles and issue regulations to ensure
competition. At this stage, stakeholders have 45 working days to present
arguments and offer alternative measures to address the Commission&#8217;s concerns.<a name="fob9te_1_0"></a><a name="fob9te_1_0_bclEnd"></a></font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:107%;">In
November 2020, a bill was presented to the Senate which would affect the
repatriation of U.S. dollars. Finally, there were new developments during 2020
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. Following the law, BANXICO has regulated
the recognition and use of virtual assets. The law also introduced a regime of
&#8220;innovative models for the provision of financial services&#8221; that enables
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 have already published most of the secondary regulation
related with the Fintech Law, but the rules to govern the sharing of data are
still being developed.</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:107%;">Turkey</font></i></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;line-height:107%;">In
Turkey, where we operate through Garanti BBVA, the three public deposit banks
that operate in the country accounted for 37% of the total assets of financial
institutions as of November 30, 2020, whereas private deposit banks (including
Garanti BBVA) accounted for 49%. Development banks and participation banks
(banks that operate under the ethos of Islamic banking) together accounted for
14% of the total. The Turkish economy experienced a significant acceleration in
the credit growth rate on the back of supportive economic policies implemented
in the COVID-19 crisis. TL lending (i.e., loans denominated in Turkish lira)
growth accelerated to 44% in 2020 from 14% in 2019 due to the supportive credit
policies implemented in response to COVID-19. In 2020, TL lending to
corporations grew by 45%, consumer loans grew by 45% and credit cards grew by
24.3%. Credit growth adjusted for the exchange rate depreciation rose to 22% in
2020 from its 6% growth in 2019. Total customer deposits grew by 35% during the
year (16.4% on a foreign exchange adjusted basis, compared with 18.6% in 2019).
The growth in TL customer deposits (i.e., customer deposits denominated in
Turkish lira) rose to 24% from 20% in 2019. Foreign exchange deposit growth
rate rose to 16.8% from 16.3% in 2019. Given the increases in TL credits, the
TL loan-to-deposit ratio rose to 152% from 130% in 2019. The foreign exchange
loan-to-deposit ratio fell to 64% from 78% due to the increase in foreign
exchange deposits.</font></font><a name="_3znysh7"></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;"><font 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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<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;">G.&#160;&#160; Cybersecurity and Fraud Management</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;">BBVA&#8217;s Corporate Security Area is responsible for ensuring adequate
information security management, including by establishing security policies,
procedures and controls regarding the security of the Group&#8217;s global
infrastructures, digital channels and payment methods with a holistic and
threat intelligence-led approach.</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;">BBVA&#8217;s security strategy resides on three fundamental pillars: cybersecurity,
data protection and security in business processes and fraud management. A
program has been designed for each of these pillars, with the aim to reduce the
risks identified in the developed taxonomy. These programs, which consider
security industry best practices established by internationally accepted
security standards, are periodically reviewed to evaluate the progress and the
effective impact on the Group 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;">During 2020, within
the framework of the implementation of the security strategy, security measures
were adopted to ensure an adequate protection of BBVA&#8217;s information and the
assets supporting business processes. The implementation of these measures,
which were perceived as necessary to mitigate the security risks the BBVA Group
is exposed to, was carried out with a global perspective and an integral
approach (considering not only technological aspects but also aspects related
to the Group&#8217;s staff, processes and security governance). </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;">Measures adopted in
2020 included measures intended to: (i) ensure end-to-end protection of
business processes, considering logical and physical security, privacy and
fraud management, (ii) ensure compliance of the security and privacy by design
principles; and (iii) improve client access control and authentication services
related to online services, from a security and user experience perspective,
using the mobile device as the main element, in line with BBVA&#8217;s digital
transformation strategy.&#160;&#160; </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 main initiatives which are being implemented to improve BBVA&#8217;s
security and client protection are the following:</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;"><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;">Aqua card launch, the first card without a printed card number or
CVV, with a dynamic CVV, reinforcing security, since not having these data
prevents their possible fraudulent use.</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;"><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;">Implementation of strong customer authentication measures in
e-commerce, requiring two of the three possible authentication mechanisms
(something you know, something you own, something you are).</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;"><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;">Implementation of the &#8220;where is my card?&#8221; functionality, that
allows the customer to have an overview of all e-commerce or platforms where
they have registered their bank cards.</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;"><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;">Implementation of new behavior biometrics and malware protection
for digital clients to reinforce analytical and fraud detection capabilities in
mobile channels.</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;">Enhancement of the information provide to clients in the BBVA app
to make them aware of the main risks they are exposed to, so that they can
prevent or act against possible threats. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additionally, BBVA
has continued carrying out training and awareness initiatives related to
security and privacy, promoting training and awareness campaigns for BBVA&#8217;s
employees, clients and society in general on matters such as the BBVA app,
online channels and social networks, secure password management, phishing and
other technical attacks detection, detection of scams, security in online
purchases and protection of personal 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;">Other lines of action
also include the adequate training of BBVA&#8217;s Board members in the area of
security and incident management, as well as the periodic performance of global
and local simulation exercises in order to raise the level of training and
awareness of the Board of Directors and certain key personnel and ensure an
immediate and effective response in case of a security breach.</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><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Cybersecurity</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;">Ensuring the
effective protection of BBVA&#8217;s assets and customers&#8217; data is vital 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;">During 2020, the
Group has detected an increase in the number of attacks, accentuated by the
presence of organized crime groups specialized in the banking sector and
working in a multi-country environment.</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;">Furthermore, the
COVID-19 pandemic has been used by cybercriminals to increase the scope of
social engineering attacks through email, SMS, instant messaging systems and
social networks. It has also contributed to the emergence of new risks and
challenges for companies, like the ones related to security in teleworking and
the increase on the attack surface.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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 Global Computer Emergency Response Team (CERT) is the
Group&#8217;s first line of detection and response to cyberattacks aimed at 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,
operates 24x7 and provides services in all countries where the Group operates,
under a scheme of managed security services, 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;">As cyberattacks
evolve and become more sophisticated, the Group has strengthened its prevention
and monitorization efforts. System monitoring capabilities have been
reinforced, with particular attention to the critical assets that support
business processes in order to prevent threats from materializing and, if
necessary, to immediately identify and respond to any security incident that may
occur. Incident prevention, detection and response capabilities have also been
strengthened through the use of integrated information sources, improved
analytical capabilities and automated 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;">We believe that
measures implemented by the Group have improved information security management
as a result in part of the use of digital intelligence and advanced analytical
capabilities. The main objective of these measures is to ensure an immediate
and effective response to any security incident that occurs through the
coordination of the different business and support areas involved, to reduce
the possible negative impact and, if necessary, to report such incident in a
timely manner to the relevant supervisory or regulatory authorities.</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 routinely reviews,
reinforces and tests its security processes and procedures through simulation
exercises in the areas of physical security and digital security. Specialized
teams periodically perform security technical tests in order to detect and
correct possible security vulnerabilities. These tests include technical tests
of technological platforms as well as malicious users simulated attacks
performed by the &#8220;red team&#8221;. 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;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;">Data Protection</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 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.
The main initiatives in this area relate to the adoption of measures to ensure
that BBVA&#8217;s information assets are properly protected, limiting their use to
their intended purposes and controlling access to them, considering the
security guidelines established by the Group. All activities related to the
data protection program are reviewed by the Data Protection Committee, where
all relevant stakeholders of the Bank are represented.</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><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Security in Business Processes and Fraud</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;">Cybersecurity efforts
are frequently undertaken in close coordination with our fraud prevention
efforts and there are considerable interactions and synergies between the
relevant teams. As part of the efforts to monitor fraud evolution and to
actively support the deployment of adequate anti-fraud policies and measures,
the Corporate Fraud Committee, chaired by the Global Head of Engineering,
oversees the evolution of all external and internal fraud types in all
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;">BBVA maintains
cybersecurity and fraud insurance policies in respect of each of its
subsidiaries. These insurance policies are subject to certain loss limits,
deductions and exclusions. We can provide no assurance that all losses related
to a cybersecurity or fraud incident will be covered under our policies.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">With the aim of
guaranteeing the effective implementation of the Group&#8217;s security strategy,
BBVA has established a security governance model. Among the bodies composing
the security governance model, there are Committees responsible for the
approval and supervision of the execution of the information security strategy,
in matters such as corporate security, information security and protection, and
fraud management. One of the main elements of this security governance model is
the Technology and Cybersecurity Commission, composed by BBVA&#8217;s Chairman and
BBVA&#8217;s Board of Directors. This Commission is responsible for the oversight of
the Group&#8217;s technological strategy and cybersecurity strategy and allows the
Board of Directors to be informed of the main technological risks to which the
Group is exposed, as well as current cybersecurity and technology trends and
any relevant security event that can affect the BBVA 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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regarding business continuity, during 2020 BBVA has
included &#8220;resilience&#8221; as an integral part of its holistic approach. This change
reflects the evolution from a model mainly oriented to guarantee the continuous
provision of products and services in situations with high impact and low
probability to a model where the organization has the ability to absorb and
adapt to situations with an operative impact due to disruptions of different
nature (such as pandemics, cyber incidents, natural disasters or technological
failures). This transition has implied an intense activity of the Resilience
Office that, together with the Group&#8217;s Crisis Management Committees and
Continuity Committees has had a relevant role in the management of the crisis caused
by the COVID-19 pandemic.</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>

<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;"><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 (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 10. Additional Information&#8212;Material
Contracts&#8212;Sale of BBVA USA to The PNC Financial Services Group</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) 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.</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;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;">Critical Accounting Policies</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 Consolidated
Financial Statements as of and for the years ended December 31, 2020, 2019 and
2018 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 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, 2020, 2019 and 2018, and its results of
operations and consolidated cash flows for the years ended December 31, 2020,
2019 and 2018. 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 certain 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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: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, 2020, 2019 and 2018,
respectively, events that take place in the future might make it necessary to
revise these estimates (upwards or downwards) in coming years.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Note 2 to our Consolidated Financial Statements
contains a summary of our significant accounting policies. We consider certain
of these policies to be particularly important due to their effect on the financial
reporting of our financial condition and results of operations and because they
require management to make difficult, complex or subjective judgments, some of
which may relate to matters that are inherently uncertain. Our reported
financial condition and results of operations are sensitive to accounting
methods, assumptions and estimates that underlie the preparation of our
Consolidated Financial Statements. The nature of critical accounting policies,
the judgments and other uncertainties affecting application of those policies
and the sensitivity of reported results to changes in conditions and
assumptions are factors to be considered when reviewing our Consolidated
Financial Statements and the discussion below.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We have identified the accounting policies
enumerated below as critical to the understanding of our financial condition
and results of operations, since the application of these policies requires
significant management assumptions and estimates that could result in
materially different amounts to be reported if the assumptions used or
underlying circumstances were to change.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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, 2020.</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. </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>


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


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">All derivatives are recognized on the balance
sheet at fair value from the date of arrangement. If the fair value of a derivative
is positive, it is recorded as an asset and if it is negative, it is recorded
as a liability. Unless there is evidence to the contrary, it is understood that
on the date of arrangement the fair value of the derivatives is equal to the
transaction price. Changes in the fair value of derivatives after the date of
arrangement are recognized in the heading &#8220;Gains (losses) on financial assets
and liabilities designated at fair value through profit or loss, net&#8221; in the
consolidated income statement.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Specifically, the fair value of the standard financial
derivatives included in the held for trading portfolios is equal to their daily
quoted price. If, under exceptional circumstances, their quoted price cannot be
established on a given date, these derivatives are measured using methods
similar to those used to measure over-the-counter (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">OTC</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) derivatives.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The fair value of OTC derivatives is equal to the sum of
the future cash flows arising from the instruments discounted at the
measurement date (&#8220;present value&#8221; or &#8220;theoretical value&#8221;). These derivatives
are measured using methods recognized by the financial markets, including the
net present value method and option price calculation models.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial derivatives that have equity instruments as their
underlying, whose fair value cannot be determined in a sufficiently objective
manner and are settled by delivery of those instruments, are measured at cost,
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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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 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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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 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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><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 2.2.7 to our Consolidated Financial
Statements for the definition of CGU.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For the purpose of determining the impairment of
a CGU to which a part or all of goodwill has been allocated, the carrying
amount of that CGU, adjusted by the theoretical amount of the goodwill
attributable to the non-controlling interests, shall be compared to its
recoverable amount (except where they are not valued at fair value). The
resulting difference shall be apportioned by reducing, firstly, the carrying
amount of the goodwill allocated to that unit and, secondly, if there are still
impairment losses remaining to be recognized, the carrying amount of the rest
of the assets. This shall be done by allocating the remaining difference in
proportion to the carrying amount of each of the assets in the CGU. In any
case, impairment losses on goodwill can never be reversed.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See Notes 2.2.6 and 2.2.7 to our Consolidated
Financial Statements, which contain a summary of our significant accounting
policies related to goodwill.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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 results from each of these tests on the dates mentioned were as
follows:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of March 31, 2020, we identified an indicator
of impairment of goodwill in the United States CGU and, as a result of the
goodwill impairment test performed, an impairment of &#8364;2,084 million was
recognized in the United States CGU, which was mainly due to the negative
impact of the macroeconomic scenario following the COVID-19 pandemic. This
recognition did not affect the tangible book value or the solvency ratio of the
BBVA Group. For additional information, see Note 18.1 to our Consolidated
Financial Statements. As of December 31, 2020, as a result of the CGUs
assessment, the Group concluded there is no evidence of further indicators of
impairment that requires recognizing significant additional impairment losses
in any of the CGUs where goodwill that the Group has recognized in the
consolidated balance sheet is allocated.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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, 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 prior estimates. 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;text-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, as a result of the CGUs
assessment, the Group concluded there was no evidence of indicators of
impairment that require recognizing significant impairment losses in any of the
CGUs where goodwill that the Group has recognized in the consolidated balance
sheet is allocated.</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;">United States CGU</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2020, the remaining goodwill
corresponding to the United States CGU has been reclassified to the heading
&quot;Non-current assets and disposal groups classified as held for sale&quot;
in the consolidated balance sheet. Pursuant to IFRS 5.15, the CGU must be
measured at the lower of fair value less costs to sell and the carrying amount.
Given the price agreed in the USA Sale share purchase agreement, the fair value
less costs to sell is higher than the carrying amount of the assets and
liabilities of the CGU, which means that as of December 31, 2020 the assets and
liabilities of the CGU will remain valued at their carrying amount (including
goodwill) on the reclassification 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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The calculation of the impairment test performed as of
March 31, 2020 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 March 31, 2020, the Group used a growth rate of 3.0% (3.5% and 4.0% as of
December 31, 2019 and 2018, respectively) to extrapolate the cash flows in
perpetuity starting in the fifth year, 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. The GDP growth rate is lower than the historical
average nominal GDP growth rate of the United States for the past 30 years and
lower than the real GDP growth rate forecasted by the IMF. The rate used to
discount cash flows is the cost of capital assigned to the CGU, 10.3% as of
March 31, 2020 (10.0% and 10.5% as of December 31, 2019 and 2018,
respectively), which consists of the risk free rate plus a risk premium.</font></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 March 31, 2020 if the discount rate had increased or
decreased by 50 basis points, the recoverable amount would have decreased or
increased by &#8364;755 million and &#8364;869 million, respectively (&#8364;871 million and
&#8364;1,017 million, respectively, as of December 31, 2019, and &#8364;1,009 million and
&#8364;1,176 million, respectively, as of December 31, 2018). If, as of March 31,
2020, the growth rate had increased or decreased by 50 basis points, the
recoverable amount would have increased or decreased by &#8364;270 million and &#8364;235
million, respectively (&#8364;340 million and &#8364;292 million, respectively, as of
December 31, 2019, and &#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;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;">Mexico CGU</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;">Part of the Group&#8217;s goodwill balance corresponds to the CGU
in Mexico. 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, 2020, the Group used a growth rate of 5.7% (5.9% as
of December 31, 2019 and 5.6% as of December 31, 2018) to extrapolate the cash
flows in perpetuity starting in the fifth year, based on the real GDP growth
rate of Mexico, expected inflation and the potential growth of the banking
sector in Mexico. The rate used to discount cash flows is the cost of capital
assigned to the CGU, 15.3% as of December 31, 2020 (14.8% as of December 31,
2019 and 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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2020 if the discount rate had increased
or decreased by 50 basis points, the recoverable amount would have decreased or
increased by &#8364;1,043 million and &#8364;1,156 million, respectively (&#8364;1,453 million
and &#8364;1,624 million, respectively, as of December 31, 2019). If, as of December
31, 2020, the growth rate had increased or decreased by 50 basis points, the recoverable
amount would have increased or decreased by &#8364;688 million and &#8364;620 million,
respectively (&#8364;957 million and &#8364;856 million, respectively, as of December 31,
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>
<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;">Turkey CGU</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;">Part of the Group&#8217;s goodwill balance corresponds to the CGU
in Turkey. 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, 2020, the Group used a growth rate of 7.0% (the same
rate was considered as of December 31, 2019 and 2018) to extrapolate the cash
flows in perpetuity starting in the fifth year, 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, 21.0% as of December 31, 2020 (17.4%
and 24.3% as of December 31, 2019 and 2018, respectively), which consists of
the risk free rate plus a risk premium.</font></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, 2020 if the discount rate had increased
or decreased by 50 basis points, the recoverable amount would have decreased or
increased by &#8364;164 million and &#8364;175 million, respectively (&#8364;192 million and &#8364;212
million, respectively, as of December 31, 2019). If, as of December 31, 2020,
the growth rate had increased or decreased by 50 basis points, the recoverable
amount would have increased or decreased by &#8364;29 million and &#8364;26 million,
respectively (&#8364;31 million and &#8364;28 million, respectively, as of December 31,
2019).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2020, December 31, 2019 and December 31,
2018 the recoverable amounts of the CGUs not listed above 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;">&#160;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 2.2.8 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
2.2.11 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>

<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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Trends </font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">in Exchange Rates</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent: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>


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 <p align=center style="border:none;margin:0cm;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>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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 2.2.19 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, 2020, 2019 and 2018 and as period-end exchange
rates as of December 31, 2020, 2019 and 2018 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, 2020</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, 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: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,
  2020</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>
 </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;">24.5301</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;">24.4160</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>
 </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;">1.1418</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;">1.2271</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>
 </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 18.0pt 0cm 0cm;">
  <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;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:#D9D9D9;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=#D9D9D9 style="border:none;"><font color=#D9D9D9 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="background:#D9D9D9;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=#D9D9D9 style="border:none;"><font color=#D9D9D9 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:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">103.2543</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>
 </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;">4,216.8126</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;">4,212.0208</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>
 </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;">3.9923</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;">4.4470</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>
 </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;">8.0501</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;">9.1131</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>
 </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 2020, </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">foreign exchange markets have been affected by the COVID-19
pandemic, which has generally had an adverse impact on currencies of emerging
economies. The COVID-19 pandemic also affected the U.S. dollar as the
extraordinary response taken by the U.S. government and the Federal Reserve
placed downward pressure on the U.S. dollar. A</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ll currencies listed above
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;">In terms of period-end exchange
rates, all these currencies depreciated as well against the euro. As a result,
the overall effect of changes in exchange rates was negative for the
period-on-period comparison of the Group&#8217;s income statement and 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 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.
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;">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>

<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%;">98</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:10.0pt;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;">COVID-19 pandemic </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 March 11, 2020,
the World Health Organization declared the outbreak of coronavirus (COVID-19) a
pandemic. </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 coronavirus
(COVID-19) pandemic has affected, and is expected to continue to adversely
affect, the world economy and economic activity and conditions in the countries
in which the Group operates, leading many of them to economic recession. Among
other challenges, these countries are experiencing widespread increases in
unemployment levels and falls in production, while public debt has increased
significantly due to support and spending measures implemented by government
authorities. In addition, there has been an increase in debt defaults by both
companies and individuals, volatility in the financial markets, volatility in
exchange rates and reductions in the value of assets and investments, all of
which have adversely affected the Group&#8217;s results in the year ended 2020, and
are expected to continue affecting the Group&#8217;s results in the future.</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;">Furthermore,
the Group may be affected by the measures or recommendations adopted by
regulatory authorities in the banking sector, including but not limited to, the
reductions in reference interest rates, the relaxation of prudential
requirements, restrictions on the distribution of dividends, the adoption of
moratorium measures for bank customers (such as those included in Royal Decree
Law 11/2020 in Spain, as well as in the CECA-AEB agreement (as defined below)
to which BBVA has adhered and which, among other things, allows loan debtors to
extend maturities and defer interest payments), the implementation of credit
programs supported by public guarantees for corporates, SMEs and self-employed
individuals, as well as changes in the financial asset purchase programs.</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;">Since the
outbreak of COVID-19, the Group has experienced a slowdown in its activity. For
example, the granting of new loans to individuals significantly decreased
during the state of emergency or periods of confinement decreed in certain
countries in which the Group operates. In addition, the Group faces various
risks, such as an increased risk of deterioration in the value of its assets
(including financial instruments valued at fair value, which may suffer
significant fluctuations) and of the securities held for liquidity reasons, a
possible significant increase in non-performing loans and RWAs, a negative
impact on the Group&#8217;s cost of financing and on its access to financing
(especially in an environment where credit ratings are affected) and the
deterioration of the Group&#8217;s capital ratios.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In
addition, in several of the countries in which the Group operates, including
Spain, the Group temporarily closed a significant number of its offices and
reduced hours of working with the public, with teams that provide central
services working remotely. These measures were partially reversed in some
regions. However, due to the continued expansion of the COVID-19 pandemic, it
is unclear how long it will take for normal operations to be fully resumed.</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></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
COVID-19 pandemic could also adversely affect the business and operations of
third parties that provide critical services to the Group and, in particular,
the greater demand and/or reduced availability of certain resources could in
some cases make it more difficult for the Group to maintain the required
service levels. Furthermore, the increase in remote working has increased the
risks related to cybersecurity, as the use of non-corporate networks has
increased.</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 a result of the above, the COVID-19 pandemic has had an adverse effect
on the Group&#8217;s results and capital base. During the first half of the year the
main accumulated impacts were the following:</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:35.85pt;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;">a deterioration in the portfolio of financial assets at amortized
cost (mainly loans and advances to customers), mainly due to the deterioration
of the macroeconomic environment, which had a negative impact of &#8364;2,009 million
(including the initial adverse effect of moratoria) and provisions for credit
risk and contingent commitments in an aggregate amount of &#8364;95 million (see
Notes 7.2, 46 and 47 to our Consolidated Financial Statements); and</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:35.85pt;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:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;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;">a deterioration in the value of the goodwill of the Group&#8217;s
subsidiary in the United States, mainly due to the deterioration of the
macroeconomic scenario in the United States, which had a net negative impact of
&#8364;2,084 million on the Group&#8217;s attributed profit (although this impact does not
affect the tangible book value, nor the solvency or the liquidity of the Group)
(see Notes 18.1 and 49 to our Consolidated Financial Statements).</font></font></p>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">99</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;">From June 30, 2020 on, and as a consequence of the general
economic deterioration in many countries and the pick up in activity in certain
countries in the latter part of the year, we believe that the specific impact
of COVID-19 cannot be easily isolated and we have therefore not quantified its
impact for the year ended December 31, 2020. We expect the COVID-19 pandemic to
continue adversely affecting the Group. Among other impacts, we expect
non-performing loans and RWAs to increase once payment moratoria schemes
adopted by governments are lifted.</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 information on
the impact of the COVID-19 pandemic on our capital, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8212;Capital&#8221;.&nbsp;</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Measures adopted in light of the COVID-19
pandemic </font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For summarized
information on certain supervisory pronouncements to be taken into account in
the implementation of the accounting and prudential frameworks applicable to
financial institutions, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8212;Pronouncements of regulatory bodies and
supervisors regarding COVID-19&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> below. The Group has taken such
pronouncements into consideration when preparing the Consolidated Financial
Statements. For summarized information on certain relief measures adopted by
the ECB regarding capital and liquidity requirements, 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;Capital
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:.0001pt;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:10.0pt;">In accordance with recommendation ECB/2020/19 issued by the ECB on March 27, 2020 on dividend distributions during the COVID-19 pandemic, the Board of Directors of BBVA resolved to modify for the financial year corresponding to 2020 the dividend policy of the Group, announced on February 1, 2017, determining as new policy for 2020 not to pay any dividend amount corresponding to 2020 until the uncertainties caused by COVID-19 disappear and, in any case, never before the end of such fiscal year. On July 27, 2020, the ECB prolonged this recommendation until January 1, 2021 by adopting recommendation ECB/2020/35. On December 15, 2020 the ECB issued recommendation ECB/2020/62, repealing recommendation ECB/2020/35 and recommending that significant credit institutions exercise extreme prudence when deciding on or paying out dividends or performing share buy-backs aimed at remunerating shareholders. Recommendation ECB/2020/62 circumscribes prudent distributions to results of 2019 and 2020 but excludes distributions regarding 2021 until September 30, 2021, when the ECB will reevaluate the economic situation. BBVA intends to reinstate its dividend policy of the Group announced on February 1, 2017 once the recommendation ECB/2020/62 is repealed and there are no additional restrictions or limitations. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4. Information on the Company&#8212;Business Overview&#8212;Supervision and Regulation&#8212;Dividends</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p><p style="border:none;margin:0cm;margin-bottom:.0001pt;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:10.0pt;">&nbsp;</font></font></p><p style="border:none;margin:0cm;margin-bottom:.0001pt;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:10.0pt;">Since the beginning of the pandemic, the Group has offered payment deferrals to its customers in all the geographies in which it operates. These measures have been driven both by government-led initiatives (typically reflected in local laws and regulation) and non-legally-imposed initiatives (based on sectorial or individual schemes), aimed at mitigating the effects of COVID-19. Generally, the payment of principal and/or interest has been deferred without there being lease modifications in accordance with IFRS 16. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation of Financial Information&#8212;Changes in Accounting Policies&#8212;IFRS 16 &#8211;Leases &#8211; COVID-19 modifications</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;. Generally, these deferrals have been given for a period of less than one year. Deferrals have been granted to customers in all categories (retail, SMEs and wholesale). With respect to corporates, they are mainly in the Leisure, Real Estate and Automotive sectors. Except in the case of Mexico and Argentina (where the period for qualifying for payment deferrals has already ended), additional customers may qualify for these deferrals. The deadline for qualifying for payment deferrals in most regions ends in the first quarter of 2021, except in Turkey (May 2021), Colombia (July 2021) and in the United States (January 2022).</font></font></p><p style="border:none;margin:0cm;margin-bottom:.0001pt;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:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Set forth
below is summarized information on certain economic measures that the
governments of the main countries where the BBVA Group operates have taken to
limit the effects of the COVID-19 pandemic, as well as on the measures adopted
by the BBVA Group to support its customers pursuant to initiatives required or
supported by the relevant governments. </font></font></p>

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

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In
Europe, fiscal stimulus packages continue to be implemented by all the relevant
European authorities, the European Union (EU) and member states, with the
recovery fund (Next Generation EU) approved by the EU being the most relevant.
Such fund would mean an initial endowment of &#8364;750,000 million and an additional
endowment of &#8364;600,000 million until June 2021 (or until the ECB considers the
crisis has been resolved) to support the recovery within the coming years
through the promotion of investment and the development of structural reforms.
As a consequence of the transfers expected to be made thereunder, member states
most affected by the health crisis would avoid incurring higher debt and the
plan is expected to result in a lower cost of funding for member states.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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;">&#160;</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, on April 30, 2020,
the ECB relaxed some of the terms and conditions of the TLTRO III facilities to
support banks&#8217; liquidity and, therefore, support the continued access of
companies and households to bank credit. Entities whose eligible net credit
investment exceeds 0% between March 1, 2020 and March 31, 2021 will pay an
interest rate 0.5% lower than the average rate of their deposit facilities from
June 24, 2020 to June 23, 2021, meaning that the interest rate applicable to
the facilities arranged is -1%. Outside of this period, the average interest
rate of the deposit facilities will be applied (currently -0.5%) provided that
the financing objectives are met according to the conditions of the ECB. BBVA
participated in the TLTRO III program windows in December 2019 and in March and
June 2020 (with an amount drawn down at the end of December 2020 of &#8364;35,032
million) due to their favorable conditions in terms of cost and term, repaying
in turn the corresponding part of the TLTRO II program.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In
addition, a new program for long-term refinancing transactions without a
specific emergency objective (PELTRO) was established.</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:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In Spain, measures adopted in response to the
COVID-19 pandemic include credit facilities for SMEs and self-employed workers
and credit guaranteed by the Instituto de Cr&#233;dito Oficial (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ICO</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;),
upfront payment of pension payments and unemployment benefits, credit
guaranteed by the ICO for rent payment, payment deferrals on insurance and
credit cards, as well as grace periods on loans for the most affected
population.&nbsp;Such measures have been covered mainly by Royal Decree Laws
8/2020 and 11/2020 (jointly, the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">RDL</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), as well as the agreement
promoted by the Spanish Banking Association (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">AEB</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) to which BBVA has
adhered (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CECA-AEB agreement</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). &nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The moratoria measures included in the RDL have
been directed to the especially vulnerable groups indicated in the regulation.
These measures consist of a three-month payment deferral of principal and
interest. Additionally, once the term of such deferral has expired, customers
have the possibility of joining the relevant sector agreement. By type of
customer, they are aimed at individuals and individual or self-employed
entrepreneurs, and by type of product, mortgage, personal and consumer loans.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The moratoria measures included in the CECA-AEB
agreement to which BBVA has adhered allow loan debtors to extend maturities and
defer interest payments. As originally drafted, these measures consisted of an
up to 12-month payment deferral of principal in the case of mortgage loans and
an up to six-month payment deferral of principal and interest in personal
loans. Said agreement expired on September 29, 2020, but was extended (with
certain changes) until March 30, 2021. In particular, the new conditions
provide an up to nine-month payment deferral of principal in the case of
mortgage loans (while the duration of the deferral for personal loans continued
to be the same)</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom: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;">Additionally, the ICO has implemented several
aid programs aimed at self-employed individuals, SMEs and entities, through
which a public guarantee which covers between 60% and 80% of the principal
amount of a loan is granted for a period of up to five years in respect of
loans eligible under such programs. The amount of the guarantee and the term
depend on the size of the company and the type of product. The ICO has also
granted loans to individuals in an aggregate amount equivalent to up to six
months of rent in loans to be repaid in up to six 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;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;">The United States</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the United
States, the Federal Reserve has cut interest rates to zero, launched a program
of massive purchases of financial assets, created a number of credit facilities
and revised its monetary policy strategy, suggesting greater tolerance for
inflation in the future. In addition, the Paycheck Protection Program (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PPP</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
and the business loan program established by the Coronavirus Aid, Relief, and
Economic Security Act (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CARES Act</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), which seek to provide economic
assistance for workers, families and businesses, and preserve jobs were
launched.</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;">Measures
adopted by the Group in the United States include affording flexibility in the
repayment of loans for businesses and for consumer finance customers, and the
removal of certain fees for individual customers. In addition, the Group
participates in the PPP and other loan programs.</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;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mexico</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:14.2pt;"><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;">In Mexico, the National Banking Commission of Securities (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CNBV</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) published official letters P285 / 2020 of March 26, 2020 and P293 / 2020 of April 15, 2020, allowing the granting of capital and interest payment deferral for a period of four months, extendable for two additional months. These measures were relied on both by individuals and corporates, affecting mortgage loans, personal loans and consumer loans, including credit cards. During March and April 2020, BANXICO reduced the monetary policy rate and announced certain measures to promote the orderly behavior of the financial markets, strengthen credit granting channels and provide liquidity for the development of the financial system. It also announced a reduction in the Monetary Regulation Deposit, the instrument through which the Central Bank balances its long-term liquidity, and the start of auctions of U.S. dollars with credit institutions in which BBVA Mexico participated since April, in the aggregate amount of $1,250 million, and partially renewed that position from June to September for $700 million.</font></font></p><p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:14.2pt;"><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;">&nbsp;</font></font></p><p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:14.2pt;"><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;">Measures adopted by the Group in Mexico include a repayment deferral on various credit products, a fixed payment plan to reduce monthly credit card charges, the suspension of point of sale fees to support retailers with lower turnover and certain plans to support large corporate customers.</font></font></p><p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:14.2pt;"><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;">&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;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Turkey</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:14.2pt;"><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;">Due to the COVID-19 outbreak, the Turkish government has announced a program of fiscal measures (Economic Stability Shield) to offset the effects of the pandemic by allowing banks to defer payments for three months, extendable for three additional months, which was accompanied by several communications from the BRSA. These support measures are granted to both individuals and companies. Additionally, public support programs have been implemented, through which a public guarantee which covers up to 80% of the principal amount of a loan eligible thereunder is granted for a period of one year.</font></font></p><p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:14.2pt;"><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;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
Central Bank has decreased the average financing rate, tightened its monetary
policy and increased the reserve requirement rates, in addition to taking
measures to provide liquidity with long term instruments and discount rates.</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;">Measures
adopted by the Group in Turkey include a deferral of certain loan repayments
and penalty-free interest and principal payments.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For
information on additional measures adopted in Turkey, 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 4. Information on the Company&#8212;Business
Overview&#8212;Supervision and Regulation&#8212;Principal Markets&#8212;Turkey</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: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;">South
America</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:14.2pt;"><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;">In South&nbsp;America, various central banks and governments have implemented measures to stimulate economic activity and provide greater liquidity in financial systems.</font></font></p><p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:14.2pt;"><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;">&nbsp;</font></font></p><p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:14.2pt;"><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;">In Colombia, the binding legislation for moratoria was approved by the Financial Superintendency, through Circulars 07/2020 and 14/2020, as well as Resolution No. 385. The moratoria consist of the payment deferral of principal and interest payments for up to six months. The deadline to apply for them has been extended until July 2021.</font></font></p><p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><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;">&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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;In Peru, a fiscal package has been implemented
to alleviate the negative impacts of COVID-19 on households and businesses. The
measures were approved through various official letters issued by the
Superintendency of Banking and Insurance, allowing the deferral of principal
and interest payments initially up to six months and then extended to up to 12,
mainly to individuals, self-employed entrepreneurs and SMEs. Additionally,
there have been public support programs such as Reactiva, Crecer or FAE aimed
at companies and micro-companies.</font></font></p>


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


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:14.2pt;"><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;">&#160;In Argentina, the repeated implementation of quarantine restrictions has been accompanied by government fiscal support measures targeting certain sectors and regions. Exchange-rate restrictions have been adopted in order to halt the fall in reserves. Further, moratorium measures have been mainly reflected on state legislation, such as Royal Decree 544/2020 or Decree 319/202, as well as various Central Bank regulations. Aimed at a broad group of clients, they facilitate the deferral of capital and interest for up to three months. Public support programs have also been adopted in Argentina. Such programs offer public guarantees of up to 100% of the principal amount of eligible loans to micro-SMEs or self-employed entrepreneurs and up to 25% with respect to loans to other companies for up to one 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;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pronouncements
of regulatory bodies and supervisors regarding COVID-19 </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;">With the aim of
mitigating the impact of COVID-19, various European and international bodies
have made pronouncements to be taken into account</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;">in
the implementation of the accounting and prudential frameworks applicable to
financial institutions. In particular, the ECB and/or the EBA, as the case may
be, have adopted the following relief measures regarding asset quality
deterioration and non-performing loans: (i) with respect to loans affected by
legally imposed payment moratoria related to the COVID-19 pandemic, it has
afforded flexibility to the unlikely-to-pay classification of such loans in
regard to timing and scope of the assessment, taking into account all available
support measures, and (ii) with respect to COVID-19 related financing with
public guarantees, it has provided flexibility regarding the classification of
obligors as unlikely to pay, and will give public-guaranteed loans a
preferential treatment in terms of their minimum coverage expectation.
Furthermore, Regulation (EU) 2020/873 of the European Parliament and of the
Council of June 24, amending the CRR, as regards certain adjustments in
response to the COVID-19 pandemic </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRR Quick Fix</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;">, contains a number of adjustments to the CRR to facilitate
lending by banks as a response to the COVID-19 crisis. The adjustments also
reflect recent statements of the Basel Committee on Banking Supervision
addressing the challenges of the pandemic. These adjustments include extending
for two years the transition period for arrangements related to the
implementation of IFRS 9; bringing forward the introduction of some capital relief
measures for banks under CRR2, including the preferential treatment of certain
loans backed by pensions or salaries and of certain exposures to SMEs and
infrastructure; and changing the minimum amount of capital that banks are
required to hold for non-performing loans under the prudential backstop.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On December 2, 2020,
recognizing the exceptional circumstances of the second wave of COVID-19, the
EBA expanded the period for applying the beneficial regulatory treatment for
moratoria until March 31, 2021, updating the guidelines on legally-imposed and
non-legally-imposed moratoria on loan repayments, including additional
safeguards against the risk of an excessive increase in unrecognized losses on
banks&#8217; balance sheets.</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 has taken
the pronouncements referred to above into consideration when preparing its
Consolidated Financial Statements. See Note 1.5 to our Consolidated Financial
Statements for additional information.</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;"><a name="_cp_text_1_586"></a><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%;">Agreement for the alliance with Allianz, Compa&#241;&#237;a
de Seguros y Reaseguros, S.A.</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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;">On April
27, 2020, BBVA reached an agreement with Allianz, Compa&#241;&#237;a de Seguros y
Reaseguros, S.A. to create a bancassurance joint venture in Spain including a
long-term exclusive distribution agreement for the sale of non-life insurance
products, excluding the health insurance&nbsp;business, through BBVA&#8217;s branch
network in Spain. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On December 14, 2020, after
obtaining the relevant regulatory approvals from the competent authorities,
BBVA Seguros transferred to Allianz, Compa&#241;&#237;a de Seguros y Reaseguros, S.A., 50%
of the share capital plus one share in BBVA Seguros Generales. BBVA Seguros
received a cash payment of &#8364;274 million. Prior to that, BBVA transferred its
non-life insurance business in Spain, excluding the health insurance business,
to BBVA Seguros Generales.&nbsp;</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:12.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Allianz, Compa&#241;&#237;a
de Seguros y Reaseguros, S.A. may need to make an additional payment to BBVA of
up to &#8364;100 million if certain business goals and milestones are met. This
transaction has resulted in a profit net of taxes of approximately &#8364;304 million
and has increased the Group&#8217;s CET1 (fully loaded) ratio by 7 basis points.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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;text-indent:0cm;"><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 introduced 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 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 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&#8217;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&#8217;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 the 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 for the year then ended has not been
restated retrospectively in this regard.</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;">Sale of BBVA Chile</font></i></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_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. 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;"><b><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></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 October 10, 2018,
after obtaining the required authorizations, BBVA completed the transfer of the
Business (except for part of the agreed REOs which were contributed in several
subsequent transfers, being the last one in May 2020) 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;</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;">.&nbsp;</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;"><b><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></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 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>


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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 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;"><a name="_gjdgxs"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:107%;">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 GDP, as well as prevailing levels of
employment, inflation and, particularly, interest rates. Typically, 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. <a name=j0zll></a><a name="j0zll_bclEnd"></a></font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:107%;">BBVA
Research estimates that the world&#8217;s GDP contracted severely in 2020 due to the
effects of the COVID-19 pandemic. Global growth is expected to go back to
positive in 2021, but the recovery is expected to be gradual and heterogeneous
across countries. Supply, demand and financial factors caused an unprecedented
drop in GDP in the first half of the year. Supported by decisive measures on
fiscal and monetary policy, as well as tighter control of the spread of the
virus, global growth rebounded more significantly than expected in the third
quarter, before moderating in the fourth quarter, when the number of infections
rose again in many regions, mainly in the United States and Europe. The
negative evolution of the pandemic is expected to adversely affect activity in
the short term and that new fiscal and monetary stimuli as well as the
inoculation of vaccines will support the recovery from the middle of the 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;line-height:107%;">Uncertainty
remains high despite the improvement in prospects created by vaccines. Slow
vaccination rates, new strains of the coronavirus as well as stress generated
by high public and private debt could, for example, pave the way for more
negative scenarios. But more positive scenarios, either due to a sharper
rebound in confidence following the inoculation of the vaccines or stimulated
by further monetary and fiscal policies (especially in the United States)
should not be ruled out.</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;line-height:107%;">In
Spain, according to BBVA Research estimates, GDP contracted by an estimated
11.0% in 2020 and could grow by around 5.5% in 2021 and 7.0% in 2022. The
performance of the economy improved during the third quarter of 2020, but it
slowed down in the fourth quarter of 2020, as the impact of public policies on
domestic demand showed symptoms of exhaustion. Both private consumption and
investment -public and private-, are expected to benefit from the vaccination
campaign, the expansive fiscal policy and favorable financing conditions. The
vaccination campaign is expected to boost activity as it would reduce health uncertainty
and relax restrictions on the mobility and the permit the re-opening of service
sector businesses. Funds associated with the European Recovery Plan (Next
generation EU or &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:107%;">NGEU</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:107%;">&#8221;) are expected to have an increasing effect over
time. Estimates of the impact of these funds on the economy continue to point
to a significant effect this year and the next two 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:0cm;margin-bottom:10.0pt;text-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:107%;">Meanwhile, at a European level, fiscal packages
have been enacted by all relevant European authorities, the EU and member
states. The European Commission has approved the NGEU plan, a &#8364;750 billion
temporary recovery instrument (5.4% EU GDP). Its centerpiece, the Recovery and
Resilience Facility has been launched to support reforms and investments undertaken
by EU countries, and includes &#8364;390 billion in grants to be released until 2023,
and &#8364;360 billion in loans which are expected to be in place until 2026.
According to the European Commission estimates, NGEU could lift GDP growth by
1.5%-2% by 2024. Moreover, the ECB has extended the Pandemic Emergency Purchase
Programme (PEPP) to up to &#8364;1,850 billion, while purchases have been extended
until March 2022, and the terms of liquidity operations TLTROs III have also
been relaxed. After a quarterly GDP rebound of 12.5% in the third quarter of
2020 in the Eurozone, the resurgence of COVID-19 infections since the autumn
and the accompanying tighter social restrictions started to take their toll
again on activity in the fourth quarter of 2020 and they are expected to extend
into the first half of 2021. However, unlike the first COVID-19 wave, the new
lockdown measures are more limited and both the manufacturing sector and
exports seem to be more resilient due also to the recovery in global demand,
especially from China, and some positive effects due to higher inventories
related to the end of the Brexit transition period. This could partly offset
the sharp fall in activity in social consumption sectors and services. BBVA
Research expects the world&#8217;s GDP to have fallen around -2.6% quarter-on-quarter
in the fourth quarter of 2020, resulting in an estimated annual GDP fall of
-7.3% in 2020. Weaker momentum in the first half of 2021 is expected to result
in a slow recovery in 2021 (4.1%), although the roll out of the vaccines and
the EU&#8217;s fiscal program is expected to underpin growth as from the second half
of 2021 and in 2022 (4.4%). </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;line-height:107%;">After
a rebound in growth during the third quarter of 2020, the Mexican economy
moderated its recovery in the fourth quarter of 2020, due in part to the
announcement of new restrictions on mobility at the end of the year. The
economy contracted by 8.5% in 2020 and BBVA Research expects it to grow by 3.2%
in 2021. The lack of fiscal stimulus in Mexico could make the recovery
particularly slow. Regarding the vaccine, Mexico has purchased doses from
different suppliers, which could boost the opening of economic activities,
although the distribution of these vaccines and the speed of the vaccination
process represent an important challenge that will need to be addressed
throughout the year. Inflation is expected to remain within the target range of
BANXICO and BBVA Research expects that BANXICO will continue the cycle of
lowering the monetary policy rate and that it will lower it from the current
4.25% to 3.5% by May 2021.</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;line-height:107%;">In
Turkey, BBVA Research estimates GDP grew by 1% in 2020, and expects that GDP
will increase by 5.5% in 2021 and 4.5% in 2022. GDP growth in the third quarter
of 2020 was better than estimated, with the services sector, which is very
sensitive to the COVID-19 crisis, contributing positively while other main sub
sectors also showing a strong rebound. </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;line-height:107%;">In
the United States, GDP contracted by 3.5% in 2020. Although the spread of
COVID-19 may adversely affect the beginning of 2021, BBVA Research expects that
the progressive vaccination of the population as well as highly expansionary
fiscal and monetary policies will increasingly support economic activity. BBVA
Research expects GDP to expand 3.6% in 2021 and 2.4% in 2022, after having
contracted around 3.6% in 2020. The new administration is expected to adopt
further fiscal stimulus measures.</font></font></p>

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


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="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>

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;line-height:107%;">In Argentina, the third quarter of 2020 GDP was
better than expected, driven by the decrease in mobility restrictions. Overall,
BBVA Research estimates that GDP contracted by -11.0% in 2020 and it expects
Argentina to grow by 6.0% in 2021. Growth in 2021 will depend on the rebound of
the economy but GDP levels are expected to remain below those of 2019. At the
end of 2020, some fiscal measures were implemented to reduce the fiscal deficit,
so that the primary deficit is estimated to have closed the year at around 6.5%
of GDP, significantly below what was expected. It is expected that an agreement
will be reached with the IMF by the second quarter. The vaccination process has
already begun. </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;line-height:107%;">In
Colombia, BBVA Research estimates a GDP contraction of 7.2% in 2020 and a
partial recovery of 4.8% in 2021. Growth dynamics this year are expected to be
led by housing construction, one of the pillars of the government&#8217;s recovery
policies. On the other hand, the recovery is expected to be limited by the
effect of new mobility restrictions adopted in light of the COVID-19 outbreaks
(which, however, are expected to have less effect than those adopted during
2020) and the effect of a potential tax reform that would imply higher VAT.
Going forward, growth risks are expected to be mainly related to the new wave
of infections that could lead authorities to impose new mobility restrictions
as well as delays in the vaccination process. </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;line-height:107%;">&#160;Peru&#8217;s
GDP in the fourth quarter of 2020 was better than expected, with a contraction
close to 3.3%. BBVA Research estimates that in 2020 GDP contracted by 11.5%. In
2021 it expects growth to be 10%. The elections scheduled for April may lead to
political uncertainty for at least the first part of the year. The risks ahead
are related to an eventual outbreak of the virus and to governance in the face
of a fragmented congress.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Group results
of operations for 2020 compared to 2019</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 table below shows
the Group&#8217;s consolidated income statements for 2020 and 2019. </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;">As a
consequence of the proposed USA Sale, the profit (loss) of companies falling
within the scope of this transaction was recognized under &#8220;Profit / (loss) from
discontinued operations, net&#8221; in the consolidated income statement for the year
ended December 31, 2020. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
Group&#8217;s consolidated income statement for 2019 has been restated for
comparative purposes. </font><font color=black 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</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; for additional information.</font></font></p>

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

<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>


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<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;">2020</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;">2019</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;">22,389</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;">27,762</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;">(19.4) </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;">(7,797)</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;">(11,972)</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;">(34.9) </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;">14,592</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;">15,789</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;">(7.6) </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;">137</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;">153</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;">(10.1) </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;">(39)</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;">(42)</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;">(6.9) </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;">5,980</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;">6,786</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;">(11.9) </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;">(1,857)</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;">(2,284)</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;">(18.7) </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;">1,187</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;">705</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;">68.4 </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;">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;">359</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;">581</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;">(38.2) </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;">492</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;">639</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;">(23.0) </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" 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;">(1,662)</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;">(1,943)</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;">(14.4) </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" 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;">2,497</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;">2,890</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;">(13.6) </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;">(1,520)</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;">(1,751)</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;">(13.2) </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;">20,166</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;">21,522</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;">(6.3) </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;">(7,799)</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;">(8,769)</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;">(11.1) </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;">(4,695)</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;">(5,351)</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;">(12.3) </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;">(3,105)</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;">(3,418)</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;">(9.2) </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;">(1,288)</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;">(1,386)</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;">(7.0) </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;"><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;">11,079</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;">11,368</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;">(2.5) </font></b></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;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(746)</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(614)</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;">21.6 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5,179)</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;">(3,552)</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;">45.8 </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;">Impairment or reversal of impairment on
  non-financial assets</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;">(153)</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;">(128)</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;">19.2 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Gains (losses) on derecognition of
  non-financial assets and subsidiaries, net and Impairment or reversal of
  impairment of investments in joint ventures and associates</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;">(197)</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;">(50)</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;">293.0 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Negative goodwill recognized in profit or loss</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;">-</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;">-</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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Gains (losses) 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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">444</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23</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;">n.m. (3)</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;">5,248</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;">7,046</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;">(25.5) </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" 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;">(1,459)</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;">(1,943)</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;">(24.9) </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;">Profit /(loss) 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;">3,789</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;">5,103</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;">(25.8) </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 /(loss) 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;">(1,729)</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;">(758)</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;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">128.1 </font></b></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 /(loss)</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;">2,060</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;">4,345</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;">(52.6) </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 /(loss) 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;">1,305</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;">3,512</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;">(62.9) </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 /(loss) 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;">756</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;">833</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;">(9.3) </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%;">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;"><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, 2020 and 2019 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, 2020 and 2019.</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;">2020</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;">2019</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;">22,389 </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;">27,762 </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;">(19.4) </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;">(7,797)</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;">(11,972)</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;">(34.9) </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;">14,592 </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;">15,789 </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;">(7.6) </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;text-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, 2020 amounted to &#8364;14,592 million, a 7.6% decrease
compared with the &#8364;15,789 million recorded for the year ended December 31,
2019, as interest and other income declined by 19.4% due mainly to the decrease
in volumes and yields (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4. Information on the Company</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;">Selected
Statistical Information</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;">Average Balances and Rates</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), combined with
a decrease in interest expense of 34.9%, mainly driven by lower funding costs.
By region, the decline in net interest income was mainly as a result of the
decreases in net interest income in Mexico and South America (as described
below). At constant exchange rates, net interest income increased by 4.8%. The
following factors, set out by region, were the main contributors to the 7.6%
decrease in net interest income:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:67.65pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mexico: there was a 12.8%
decrease mainly as a result of the depreciation of the Mexican peso against the
euro </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and the decrease in the interest reference rate
by 300 basis points during 2020 in response to the COVID-19 pandemic crisis. At
constant exchange rates, there was a 0.7% decrease. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:67.65pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">South America:
there was a 15.5% decrease mainly as a result of the depreciation of the
currencies of the main countries where the BBVA Group operates in the region
against the euro. At constant exchange rates, there was a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.9</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% increase.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:67.65pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Turkey: there
was a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1.1</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% decrease mainly as a result of the
depreciation of the Turkish lira against the euro. At a constant exchange rate,
there was a 25.2% increase in net interest income, mainly as a result of higher
customer spreads in Turkish lira-denominated loans and higher loan volumes.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:67.65pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spain: </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">there was a 0.4% decrease mainly as a result of
the lower interest rates</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom: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: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;">Dividend income for the
year ended December 31, 2020 amounted to &#8364;137 million, a 10.1% decrease
compared with the &#8364;153 million recorded for the year ended December 31, 2</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">019 mainly as a result of the restriction
imposed by the Central Bank of the Argentine Republic (BCRA) to private banks
on the distribution of profits to shareholders until June 30, 2021, with the
goal of preserving available liquidity for the granting of loans to customers,
and, to a lesser extent, the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">depreciation
of the currencies of the main countries where the Group operates against the
euro.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font face="Segoe UI,sans-serif" style="border:none;"><font face="Segoe UI,sans-serif" lang=EN-US style="font-size:10.5pt;">&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;"><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, 2020 amounted to a
&#8364;39 million loss, compared with the &#8364;42 million loss recorded for the year ended
December 31, 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="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>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_115"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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, 2020 and 2019:</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;">2020</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;">2019</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;">27</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;">(30.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">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;">322</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;">301</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;">7.0 </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" style="font-size:9.0pt;">2,089</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;">2,862</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;"><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;">136</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;">198</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;">(31.3) </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;">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;">555</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;">623</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;">(10.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">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;">159</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;">158</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;">0.6 </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" 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;">185</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;">187</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;">(1.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">349</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;">377</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:12.0pt;">
  <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;">1,100</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;">1,026</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;"><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;">367</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">294</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24.8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">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;">135</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=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">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;">556</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;">599</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:12.75pt;">
  <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;">5,980</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;">6,786</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;">(11.9) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fee and commission income
decreased by 11.9% to &#8364;5,980 million for the year ended December 31, 2020 from
the &#8364;6,786 million recorded for the year ended December 31, 2019, primarily due
to the depreciation of the currencies of the main countries where the BBVA
Group operates and the lower volume of transactions as a result of the COVID-19
pandemic, especially in Mexico, particularly involving credit cards, and the
temporary elimination or reduction of fees in certain regions, such as </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">point of sale fees in Mexico and
Turkey in order to support retailers with lower turnover, partially offset by
the increase in fee and commission income from asset management activities in
Spain</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;">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, 2020 and 2019 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;">2020</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;">2019</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;">5</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;">6</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;">(16.7) </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;">1,130</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;">1,566</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;">(27.8) </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;">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;">97</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;">81</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;">19.8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">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;">54</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">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;">52</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=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">73.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=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;">519</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;">548</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <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;">1,857</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;">2,284</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;">(18.7) </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
decreased by 18.7% to &#8364;1,857 million for the year ended December 31, 2020 from
the &#8364;2,284 million recorded for the year ended December 31, 2019, primarily due
to the depreciation of the currencies of the main countries where the BBVA
Group operates and the lower volume of transactions as a result of the COVID-19
pandemic, particularly involving credit cards, and the temporary elimination or
reduction of fees in certain regions.</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: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 increased by 68.4% to &#8364;1,187 million for the year ended
December 31, 2020 compared to the net gain of &#8364;705 million recorded for the
year ended December 31, 2019, mainly due to increased sales in the Global
Markets unit in Mexico and securities&#8217; sales within the ALCO portfolio in
Mexico, partially offset by decreased sales in the Global Markets unit in Spain
and the depreciation of the currencies of the main countries where the BBVA
Group operates against the euro.</font></font></p>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font 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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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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, 2020 and 2019:</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;">2020</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;">2019</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;">139</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;">186</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;">(25.0) </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;">114</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;">142</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;">(20.2) </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;">106</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;">44</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;">138.6 </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;">(81)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</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: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;">777</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;">419</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;">85.2 </font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=top width=61% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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: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;">208</font></font></p>
  </td>
 <td nowrap width=13% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">143</font></font></p>
  </td>
 <td nowrap width=13% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">45.6 </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;">56</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;">(98)</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:24.0pt;">
  <td nowrap width=61% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7</font></font></p>
  </td>
 <td nowrap width=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=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">55</font></font></p>
  </td>
 <td nowrap width=13% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(87.4) </font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=61% 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 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: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" style="font-size:9.0pt;">1,187</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="border:none;border-bottom:double black 2.25pt;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" style="font-size:9.0pt;">705</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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" style="font-size:9.0pt;">68.4 </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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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 25.0% to
&#8364;139 million in the year ended December 31, 2020 from &#8364;186 million in the year
ended December 31, 2019 mainly due to </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">decreased sales in the Global Markets unit 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 financial assets and liabilities held
for trading increased by 85.2%, to &#8364;777 million in the year ended December 31,
2020 from &#8364;419 million in the year ended December 31, 2019, mainly as a result
of </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">higher sales in the Global Markets unit in Mexico
and securities&#8217; sales within the ALCO portfolio in Mexico.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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 by 45.6% to &#8364;208
million in the year ended December 31, 2020 from &#8364;143 million in the year ended
December 31, 2019, primarily due to the </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">positive
evolution of a particular customer portfolio in Turkey and the positive impact
of changes in exchange rates on certain foreign currency positions.</font></font></p>

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

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange differences decreased to a &#8364;359 million
gain for the year ended December 31, 2020 from a &#8364;581 million gain for the year
ended December 31, 2019 mainly as a result of the depreciation of the
currencies of the main countries where the Group operates against the euro.</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%;">Other operating income and
expense, net</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;">Other operating
income for the year ended December 31, 2020 decreased by 23.0% to &#8364;492 million
compared with the &#8364;639 million recorded for the year ended December 31, 2019,
mainly as a result of the lower adjustment for hyperinflation in Argentina, the
lower dividend income from investees accounted for under the equity method and
the depreciation of the currencies of the main countries where the Group
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;text-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, 2020 amounted to &#8364;1,662 million, a 14.4% decrease compared with
the &#8364;1,943 million recorded for the year ended December 31, 2019, mainly driven
by the lower adjustment for hyperinflation in Argentina and the depreciation of
the currencies of the main countries where the BBVA Group operates, offset in
part by the greater contributions made to the Deposit Guarantee Fund of Credit
Institutions and to the ECB&#8217;s Single Resolution Fund.</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%;">111</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_117"></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, 2020 was &#8364;2,497 million, a 13.6% decrease
compared with the &#8364;2,890 million of income recorded for the for the year ended
December 31, 2019, mainly due to 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 the BBVA Group 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, 2020 was &#8364;1,520 million, a 13.2% decrease
compared with the &#8364;1,751 million expense recorded for the year ended December
31, 2019, 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 the BBVA Group operates against the
euro.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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, 2020
amounted to &#8364;7,799 million, an 11.1% decrease compared with the &#8364;8,769 million
recorded for the year ended December 31, 2019, mainly as a result of the
depreciation of the currencies of the main countries where the BBVA Group
operates against the euro and lower costs driven by efficiency plans, in
particular 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;"><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, 2020
and 2019:</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;">2020</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;">2019</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;">3,610</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;">4,103</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;">(12.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Social security costs</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">671</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;">725</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(7.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">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;">72</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">95</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(23.7) </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;">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;">49</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;">49</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;">(1.4) </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;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;">293</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;">379</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;">(22.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Personnel expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,695</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;">5,351</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;">(12.3) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top: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, 2020 and 2019:</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;">2020</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;">2019</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;">1,088</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;">1,060 </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;">2.6 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">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;">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;">181 </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;">(4.7) </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;">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;">186</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;">250 </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;">(25.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Property, fixtures and
  materials</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">404</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;">477 </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;">(15.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">344</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;">378 </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;">(8.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Surveillance and cash courier
  services</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;">161</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;">188 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(14.2) </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;">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;">749</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;">885 </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;">(15.4) </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;">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;">3,105</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;">3,418 </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;">(9.2) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent: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, 2020 was &#8364;1,288 million, a 7.0% decrease compared with the &#8364;1,386
million recorded for the year ended December 31, 2019, mainly due to the
depreciation of the currencies of the main countries where the BBVA Group
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-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, 2020 amounted to an expense of &#8364;746
million, a 21.6% increase compared with the &#8364;614 million expense recorded for
the year ended December 31, 2019, mainly as a result of </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">higher provisions for various purposes, including mainly contingent
risks in Spain, Mexico and South America, </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">offset in part by the
depreciation of the currencies of the main countries where the BBVA Group
operates against the euro</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-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, 2020 was an expense of &#8364;5,179
million, a 45.8% increase compared with the &#8364;3,552 million expense recorded for
the year ended December 31, 2019, mainly due to the deterioration of macroeconomic
conditions due to the negative effects of COVID-19 especially during the first
half of 2020, which led to significant credit quality deterioration in the
portfolio of financial assets measured at amortized cost (mainly loans and
advances to customers) in the main countries where the Group operates. The
increase was partially offset by the effect of payment deferrals and financing
backed by public guarantees (by which lower quality loans were replaced with
higher quality loans) granted by the Group to its retail, SMEs and wholesale
customers amounting to &#8364;33,828 million as of December 31, 2020 (see Note 7.2 to
the Consolidated Financial Statements), and the depreciation of the currencies
of the main countries where the BBVA Group 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 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, 2020 and 2019:</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=54% 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=31% 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=15% 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=54% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% 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;">2020</font></u></b></font></p>
  </td>
 <td valign=bottom width=15% 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;">2019</font></u></b></font></p>
  </td>
 <td valign=bottom width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><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=54% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=31% 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=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=top width=54% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">82</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(77.1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=top width=54% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Financial assets at amortized
  cost</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;">5,160</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,470</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">48.7</font></font></p>
  </td>
 </tr>
<tr style="height:36.75pt;">
  <td width=54% style="height:36.75pt;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=16% style="border:none;border-bottom:double black 2.25pt;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 style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,179</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:double black 2.25pt;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 style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,552</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:36.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">45.8</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;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%;">&nbsp;</font></i></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;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment
or reversal of impairment on non-financial assets for the year ended December
31, 2020 amounted to an expense of &#8364;153 million, compared with the &#8364;128 million
expense recorded for the year ended December 31, 2019, mainly as a result of
the impairment on tangible assets, mostly real estate assets of own use. </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 and Impairment or
reversal of impairment of investments in joint ventures and associates</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, net and Impairment or reversal of impairment of
investments in joint ventures and associates for the year ended December 31,
2020 amounted to a &#8364;197 million loss compared with the &#8364;50 million loss
recorded for the year ended December 31, 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;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) 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:21.25pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Gains from non-current
assets and disposal groups classified as held for sale not qualifying as
discontinued operations for the year ended December 31, 2020 was &#8364;444 million,
compared with the &#8364;23 million recorded for the year ended December 31, 2019,
mainly due to the sale to Allianz, Compa&#241;&#237;a de Seguros y Reaseguros, S.A. of
50% of the share capital plus one share in BBVA Allianz Seguros y Reaseguros,
S.A. in the fourth quarter of 2020. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8220;&#8213; Factors Affecting the
Comparability of our Results of Operations and Financial
Condition&#8213;Alliance with Allianz, Compa&#241;&#237;a de Seguros y Reaseguros, S.A.</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;
and Note 3 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%;">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">
<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 / (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, 2020 amounted to &#8364;5,248 million, a 25.5%
decrease compared with the &#8364;7,046 million operating profit before tax recorded
for the year ended December 31, 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;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, 2020 amounted to &#8364;1,459 million, a 24.9%
decrease compared with the &#8364;1,943 million expense recorded for the year ended
December 31, 2019, mainly due to the decrease in operating profit before tax. </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense amounted to 27.8% of operating profit before
tax for the year ended December 31, 2020 and 27.6% for the year ended December
31, 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;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
discontinued operations, 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;">Loss from discontinued operations for the year
ended December 31, 2020 amounted to &#8364;1,729 million compared with the &#8364;758
million recorded for the year ended December 31, 2019, due to the year-on-year
increase in the loss recognized by the Group from the companies held for sale
in the United States. Such increase was mainly the result of the goodwill
impairment losses recognized in the United States CGU, which are recorded in
this line item in light of the pending sale of such business.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font></i><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation
of Financial Information&#8213;Agreement for the sale of BBVA USA Bancshares,
Inc.</font></i><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;">, &#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;Sale
of BBVA USA to The PNC Financial Services Group</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;">and Note 21 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;">Profit / (loss)</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent: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, 2020 amounted to &#8364;2,060 million, a 52.6% decrease compared
with the &#8364;4,345 million recorded for the year ended December 31, 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;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)
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, 2020 amounted to
&#8364;1,305 million, a 62.9% decrease compared with the &#8364;3,512 million recorded for
the year ended December 31, 2019.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit / (loss) 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, 2020 amounted to &#8364;756 million, a 9.3% decrease
compared with the &#8364;833 million profit attributable to non-controlling interests
recorded for the year ended 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%;">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: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;">BBVA Group results of operations for 2019
compared to 2018</font></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 table below shows the Group&#8217;s consolidated
income statements for 2019 and 2018. </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">These
consolidated income statements have been restated for comparative purposes,
including to reflect the impact of the proposed USA Sale. See </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Presentation
of Financial Information&#8221;.</font></i><font color=black 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:.0001pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<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;">2019</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;">2018</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;">27,762</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;">26,954</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;">3.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">(11,972)</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;">(11,669)</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;">2.6 </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;">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;">15,789</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;">15,285</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;">3.3 </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;">153</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;">145</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;">5.7 </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;">(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 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=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;">6,786</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;">6,462</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;">5.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">(2,284)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2,059)</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;">10.9 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=66% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">705</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;">1,136</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;">(37.9) </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 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">581</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;">13</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;">639</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;">929</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;">(31.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">(1,943)</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;">(2,021)</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;">(3.9) </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 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">2,890</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 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;">(2.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">(1,751)</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 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;">(7.5) </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;">21,522</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;">20,936</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;">2.8 </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;">(8,769)</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;">(9,020)</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;">(2.8) </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 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;">(5,351)</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;">(5,205)</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;">2.8 </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 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;">(3,418)</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;">(3,816)</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;">(10.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">(1,386)</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;">(1,034)</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;">34.0 </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;">11,368</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;">10,883</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;">4.5 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">(614)</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;">(395)</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;">55.4 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3,552)</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;">(3,681)</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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=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;">(128)</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;">(137)</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;">(6.2) </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Gains (losses) on derecognition of
  non-financial assets and subsidiaries, net and Impairment or reversal of
  impairment of investments in joint ventures and associates</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;">(50)</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;">80</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;">n.m. (3)</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:13.5pt;">
  <td 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;">Gains (losses) 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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">815</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(97.2) </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;">7,046</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;">7,565</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;">(6.9) </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;">(1,943)</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;">(2,042)</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;">(4.9) </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;">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;">5,103</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;">5,523</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;">(7.6) </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 (loss) from discontinued operations,
  net</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;">(758)</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;">704</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:12.75pt;">
  <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;">4,345</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 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;">(30.2) </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;">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 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=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;">(35.0) </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;">833</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 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;">0.8 </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%;">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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align: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;text-align: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_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;">2019</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;">2018</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;">27,762</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;">26,954</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;">3.0 </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;">(11,972)</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;">(11,669)</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;">2.6 </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;">15,789</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;">15,285</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;">3.3 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-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;15,789 million, a 3.3% increase
compared with the &#8364;15,285 million recorded for the year ended December 31,
2018, mainly as a result of the increases in net interest income in Mexico and,
to a lesser extent, South America (as described below). At constant exchange
rates, net interest income increased by 4.1%. The following factors, set out by
region, were the main contributors to the 3.3% 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;">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;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;153 million, a 5.7% increase compared with the &#8364;145 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%;">116</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_122"></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;text-align: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>

<p style="border:none;margin-bottom:.0001pt;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;">&nbsp;</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;">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" lang=EN-US 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" 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;">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" 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;">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;">301 </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;">249 </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;">20.9 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=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;">2,862 </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;">2,690 </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:12.0pt;">
  <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;">198 </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;">188 </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;">5.3 </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;">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;">623 </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;">595 </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;">4.7 </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;">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;">158 </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;">169 </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;"><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;">187 </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;">183 </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;">2.2 </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;">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;">377 </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;">374 </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;">0.8 </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;">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;">1,026 </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;">986 </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;">4.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">294 </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;">301 </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;">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;">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" 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;">-</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;">599 </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;">564 </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;">6.2 </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;">6,786 </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;">6,462 </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;">5.0 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;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:10.0pt;text-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 5.0% to &#8364;6,786 million for the year ended December 31, 2019 from
the &#8364;6,462 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 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;text-align: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.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;">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" lang=EN-US 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" 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;">6</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;">11</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;">(45.5) </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;">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;">1,566</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;">1,403</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;">11.6 </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" lang=EN-US style="font-size:9.0pt;">81</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;">36</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;">125.0 </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;">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;">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" lang=EN-US 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" lang=EN-US 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" 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;">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" lang=EN-US 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" lang=EN-US 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" 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;">548</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;">531</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;">3.2 </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;">2,284</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;">2,059</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;">10.9 </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;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 10.9% to
&#8364;2,284 million for the year ended December 31, 2019 from the &#8364;2,059 million
recorded for the year ended December 31, 2018, mainly due to the increase in
commissions paid by the BBVA Group to other financial institutions in
connection with the use of credit and debit cards, particularly in Mexico and
Turkey, and the appreciation of the currencies of some of the main countries
where BBVA operates against the euro.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses)
on financial assets and liabilities</font></i></font></p>

<p style="border:none;margin-bottom: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;">Net gains on financial assets and liabilities
decreased by 37.9% to &#8364;705 million for the year ended December 31, 2019
compared to the net gain of &#8364;1,136 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>


<DIV bclFooter>

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

<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;">&nbsp;</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;">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" lang=EN-US 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" 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;">186</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;">191</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;">(3.0) </font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td nowrap valign=top width=55% style="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:9.0pt;">Financial assets at fair value through other
  comprehensive income</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;">142</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;">153</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;">(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 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;">44</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;">37</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;">21.9 </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;">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;">(1)</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</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 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;">419</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;">640</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;">(34.5) </font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=top width=55% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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: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;">143</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;">96</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;">49.4 </font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=top width=55% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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: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;">(98)</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;">139</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;">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;">55</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;">69</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;">(20.2) </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;">Net gains (losses) on financial assets and
  liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">705</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;">1,136</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;">(37.9) </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-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;">&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 on derecognition of financial assets and
liabilities not measured at fair value through profit or loss decreased to &#8364;186
million in the year ended December 31, 2019 from &#8364;191 million 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;text-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 34.5%, to &#8364;419 million in the year ended December 31,
2019 from &#8364;640 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 the decrease in gains associated with
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 increased foreign-currency transactions and the
valuation and sale of the stake in Prisma Medios de Pago, S.A. in Argentina.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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;98
million loss in the year ended December 31, 2019 compared to the &#8364;139 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;581 million
gain for the year ended December 31, 2019 from a &#8364;13 million gain 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 31.2% to &#8364;639 million compared with the &#8364;929
million recorded for the year ended December 31, 2018, mainly as a result of
lower income from real estate related services in Spain following the various
dispositions of real estate related assets completed (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Results of
Operations by Operating Segment&#8212; 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;1,943 million, a 3.9% decrease compared with the
&#8364;2,021 million recorded for the year ended December 31, 2018, mainly as a
result of lower expense from real estate related services in Spain and the
impact of the hyperinflation adjustment in Argentina.</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>

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</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">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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 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 7.5% 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;8,769 million, a 2.8% decrease compared with the &#8364;9,020 million
recorded for the year ended December 31, 2018, mainly as a result of the lower
rent expense 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:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
table below provides a breakdown of personnel expense for the years ended
December 31, 2019 and 2018:</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;">&nbsp;</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;">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" lang=EN-US 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" 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;">4,103</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;">4,031</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;">1.8 </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;">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;">725</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;">670</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;">8.2 </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" 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;">95</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;">72</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;">31.0 </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;">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;">49</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=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;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;">379</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;">373</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:12.75pt;">
  <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;">5,351</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;">5,205</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;">2.8 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The 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.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;">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" lang=EN-US 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" 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;">1,060 </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;">1,000 </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;">6.0 </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;">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;">181 </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;">193 </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;">(6.2) </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" 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;">250 </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;">265 </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;">(5.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Property, fixtures and
  materials</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">477 </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;">865 </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;">(44.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=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;">378 </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;">395 </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;">(4.3) </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;">Surveillance and cash courier
  services</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;">188 </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;">177 </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;">6.2 </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" 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;">885 </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;">921 </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;">(3.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=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;">3,418 </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;">3,816 </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;">(10.4) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top: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;">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;1,386 million, a 34.0% increase compared with the &#8364;1,034
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>

<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;614
million, a 55.4% increase compared with the &#8364;395 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>


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


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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;3,552
million, a 3.5% increase compared with the &#8364;3,681 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 Mexico and South
America. </font><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). </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align: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>

<p style="border:none;margin-bottom:.0001pt;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;">&nbsp;</font></i></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=46% 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=40% 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=14% 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=46% 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=20% 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;">2019</font></u></b></font></p>
  </td>
 <td valign=bottom width=20% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><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=14% 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=46% 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=40% 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=14% 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=46% 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=20% style="height:24.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=20% style="height:24.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=14% 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;">n.m.(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=top 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 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=20% 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;">3,470</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% 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;">3,680</font></font></p>
  </td>
 <td nowrap width=14% 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;">(5.7)</font></font></p>
  </td>
 </tr>
<tr style="height:48.75pt;">
  <td width=46% 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=20% style="border:none;border-bottom:double black 2.25pt;height:48.75pt;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;">3,552</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:double black 2.25pt;height:48.75pt;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;">3,681</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">(3.5)</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-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 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;128 million, compared with the &#8364;137 million expense 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;">Gains (losses) on
derecognition of non-financial assets and subsidiaries, net and Impairment or
reversal of impairment of investments in joint ventures and associates</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 net and Impairment or reversal of impairment of
investments in joint ventures and associates, for the year ended December 31,
2019 amounted to a &#8364;50 million loss compared with the &#8364;80 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;">Gains (losses) 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;">Gains 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;23 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;7,046 million, a
6.9% decrease compared with the &#8364;7,565 million operating profit before tax
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%;">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-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;1,943 million, a
4.9% decrease compared with the &#8364;2,042 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 color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense amounted to 27.6% of operating profit before
tax for the year ended December 31, 2019 and 27.0% 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 (loss) from
discontinued operations, 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;">Loss from discontinued operations for the year
ended December 31, 2019 amounted to &#8364;758 million, compared with &#8364;704 million profit
for the year ended December 31, 2018. The year-on-year variation was mainly the
result of the goodwill impairment losses recognized in the United States CGU 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;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>

<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%;">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-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:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to
non-controlling interests for the year ended December 31, 2019 amounted to &#8364;833
million, a 0.8% 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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:43.95pt;margin-right:0cm;margin-top:6.0pt;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;text-align: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, 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 the tables for such years
(and, in the table for 2018, the &#8220;Adjustments&#8221; and &#8220;Other adjustments&#8221; columns)
shows the differences between the Group income statement and the income
statement calculated in accordance with management operating segment reporting
criteria. In particular:</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;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;">in 2020, such differences relate to the accounting of
(i) the earnings of BBVA USA and the other entities included within the scope
of the USA Sale. In particular, such earnings were recognized under &#8220;Profit /
(loss) from discontinued operations, net&#8221; of the Group income statement. In
this section, information for such companies is being presented under
management criteria, pursuant to which their results are included in every line
item of the income statement of the United States segment (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">BBVA USA
Adjustment</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;); and (ii) the impairment of goodwill in the United States&#8217;
CGU, which amounted to &#8364;2,084 million for the year ended December 31, 2020. In
particular, such losses were recognized under &#8220;Profit / (loss) from
discontinued operations, net&#8221; of the Group income statement. In this section,
information relating to our Corporate Center 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;;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></b></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:53.6pt;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;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;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 (i) the BBVA USA Adjustment; </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">(ii) the impairment of goodwill in the United States&#8217; CGU,
which amounted to &#8364;1,318 million for the year ended December 31, 2019. In
particular, such losses were recognized under &#8220;Profit / (loss) from
discontinued operations, net&#8221; of the Group income statement. In this section,
information relating to our Corporate Center 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;; and (iii)
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 income statement, such
losses are presented under the heading &#8220;Impairment or reversal of impairment on
non-financial assets&#8221;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">; and </font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:53.85pt;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;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;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 2018, such differences relate to (i) the BBVA USA Adjustment;
and (ii) the capital gain resulting from the sale of our stake in BBVA Chile
(which amounted to &#8364;633 million, net of taxes). With respect to the latter, for
purposes of the Group income statement, such capital gain was recorded under
&#8220;Gains (losses) from non-current assets and disposal groups classified as held
for sale not qualifying as discontinued operations&#8221;. 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;.</font></font></p>

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


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_128"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-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, 2019 and 2018 has been restated for comparative purposes. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation
of Financial Information</font></i><font 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_ReconciliationN" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.75pt;">
  <td nowrap valign=bottom width=27% 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=73% 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, 2020</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td nowrap valign=bottom width=27% 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=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;">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=27% 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=9 width=73% 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>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=27% 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;">3,553</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;">2,284</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;">5,415</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;">2,783</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;">2,701</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;">214</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;">(149)</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2,209)</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;">14,592</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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;">1,802</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;">665</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;">1,065</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;">510</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;">484</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;">150</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;">(59)</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;">(494)</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;">4,123</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=27% 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;">174</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;">220</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;">423</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;">227</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;">407</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;">137</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;">104</font></font></p>
  </td>
 <td nowrap width=9% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(145)</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;">1,546</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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;">25</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;">(17)</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;">114</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;">53</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;">(367)</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;">47</font></font></p>
  </td>
 <td nowrap width=9% 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;">40</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;">(95)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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;">5,554</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;">3,152</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;">7,017</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;">3,573</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;">3,225</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;">510</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;">(57)</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2,808)</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;">20,166</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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;">(2,580)</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;">(1,662)</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;">(2,028)</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;">(880)</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;">(1,219)</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;">(268)</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;">(625)</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;">1,462</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;">(7,799)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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;">(460)</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;">(209)</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;">(311)</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;">(150)</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;">(154)</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;">(17)</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;">(194)</font></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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">205</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;">(1,288)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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;">2,515</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;">1,281</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;">4,677</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;">2,544</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;">1,853</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;">225</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;">(876)</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;">(1,140)</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;">11,079</font></b></font></p>
  </td>
 </tr>
<tr style="height:34.5pt;">
  <td width=27% 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;">(1,167)</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;">(776)</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;">(2,172)</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;">(895)</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;">(864)</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;">(38)</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;">4</font></font></p>
  </td>
 <td nowrap width=9% 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;">729</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;">(5,179)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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;">(538)</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;">(4)</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;">(33)</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;">(127)</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;">(93)</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;">(1,938)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,235</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;">(499)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 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;">(153)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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;">809</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;">502</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;">2,472</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;">1,522</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;">896</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;">184</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;">(2,810)</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=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;">5,248</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=27% 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;">(200)</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;">(73)</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;">(713)</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;">(380)</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;">(277)</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;">(48)</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;">174</font></font></p>
  </td>
 <td nowrap width=9% 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;">57</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;">(1,459)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=27% 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 / (loss) 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;">610</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;">429</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;">1,759</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;">1,142</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;">619</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;">137</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;">(2,635)</font></b></font></p>
  </td>
 <td nowrap width=9% 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;">1,729</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;">3,789</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=27% 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 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,729)</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;">(1,729)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit / (loss)</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;">610</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;">429</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;">1,759</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;">1,142</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;">619</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;">137</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;">(2,635)</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;">-</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;">2,060</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit / (loss) 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 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(579)</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;">(173)</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 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(756)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=27% 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 / (loss) 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;">606</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;">429</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;">1,759</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;">563</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;">446</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;">137</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;">(2,635)</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;">-</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;">1,305</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;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; Corresponds
to (i) the BBVA USA Adjustment; and (ii) the impairment of goodwill in the
United States&#8217; CGU, which amounted to &#8364;2,084 million for the year ended
December 31, 2020. In particular, such losses were recognized under &#8220;Profit /
(loss) from discontinued operations, net&#8221; of the Group income statement. In
this section, information relating to our Corporate Center 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;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:4.0pt;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; 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;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; 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><font style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">123</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_129"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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=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;"><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=56% 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, 2019</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=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=28% 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=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;">South America</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;">Rest of Eurasia</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;">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;">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=28% 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=9 width=72% 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:12.0pt;">
  <td nowrap valign=bottom 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 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;">3,567</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;">2,395</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;">6,209</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;">2,814</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;">3,196</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;">175</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;">(233)</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;">(2,335)</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;">15,789</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(531)</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;">4,502</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=28% 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;">239</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;">173</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;">310</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;">10</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;">576</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;">131</font></font></p>
  </td>
 <td nowrap width=8% 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;">(54)</font></font></p>
  </td>
 <td nowrap width=8% 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;">(98)</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;">1,286</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;">22</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;">(55)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">5,656</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2,941)</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;">21,522</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">1,534</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;">(8,769)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">214</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;">(1,386)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">2,402</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,193)</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;">11,368</font></b></font></p>
  </td>
 </tr>
<tr style="height:32.25pt;">
  <td valign=bottom width=28% 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;">(138)</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;">(550)</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;">(1,698)</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;">(906)</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;">(777)</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;">(4)</font></font></p>
  </td>
 <td nowrap width=8% 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 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">521</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;">(3,552)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(641)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">(128)</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;">(128)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">648</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;">7,046</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=28% 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;">(489)</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;">(115)</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;">(992)</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;">(312)</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;">(368)</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;">(36)</font></font></p>
  </td>
 <td nowrap width=8% 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;">258</font></font></p>
  </td>
 <td nowrap width=8% 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;">110</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;">(1,943)</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=28% 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 </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;">1,389</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;">590</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;">2,699</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;">1,029</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;">1,028</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;">127</font></b></font></p>
  </td>
 <td nowrap 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=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: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;">758</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;">5,103</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=28% 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=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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(758)</font></font></p>
  </td>
 <td nowrap width=8% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(758)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 valign=bottom 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(833)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;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; Consists
of (i) the BBVA USA Adjustment; (ii) the impairment of goodwill in the United
States&#8217; CGU, which amounted to &#8364;1,318 million for the year ended December 31,
2019. In particular, such losses were recognized under &#8220;Profit / (loss) from
discontinued operations, net&#8221; of the Group income statement. In this section,
information relating to our Corporate Center 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; and (iii)
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 income statement, 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;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;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; 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) &#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%;">124</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_130"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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=26% 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=10 width=74% 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>
 </tr>
<tr style="height:31.5pt;">
  <td nowrap valign=bottom width=26% style="height:31.5pt;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 width=8% 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;">Spain</font></b></font></p>
  </td>
 <td width=8% 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;">The United States</font></b></font></p>
  </td>
 <td width=7% 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;">Mexico</font></b></font></p>
  </td>
 <td width=7% 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;">Turkey </font></b></font></p>
  </td>
 <td width=8% 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;">South America</font></b></font></p>
  </td>
 <td width=7% 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;">Rest of Eurasia</font></b></font></p>
  </td>
 <td width=7% 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;">Corporate Center</font></b></font></p>
  </td>
 <td width=7% 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;">Adjustments (1)</font></b></font></p>
  </td>
 <td width=7% 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;">Other adjustments
  (2)</font></b></font></p>
  </td>
 <td width=8% 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;">Group</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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=10 width=74% 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:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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;">3,618</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=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;">5,568</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;">3,135</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;">3,009</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=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;">(2,227)</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;">15,285</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=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;">1,205</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;">686</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;">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=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;">(476)</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;">4,403</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=26% 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 (3)</font></font></p>
  </td>
 <td nowrap 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;">529</font></font></p>
  </td>
 <td nowrap 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;">109</font></font></p>
  </td>
 <td nowrap width=7% 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;">223</font></font></p>
  </td>
 <td nowrap width=7% 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;">11</font></font></p>
  </td>
 <td nowrap 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;">405</font></font></p>
  </td>
 <td nowrap width=7% 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;">101</font></font></p>
  </td>
 <td nowrap width=7% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(155)</font></font></p>
  </td>
 <td nowrap width=7% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(75)</font></font></p>
  </td>
 <td nowrap width=7% 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;">-</font></font></p>
  </td>
 <td nowrap 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;">1,148</font></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td nowrap valign=bottom width=26% 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 (4)</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;">59</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;">9</font></font></p>
  </td>
 <td nowrap width=7% 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;">197</font></font></p>
  </td>
 <td nowrap width=7% 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;">70</font></font></p>
  </td>
 <td nowrap width=8% 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=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: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;">-</font></font></p>
  </td>
 <td nowrap width=7% 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;">63</font></font></p>
  </td>
 <td nowrap width=7% 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;">47</font></font></p>
  </td>
 <td nowrap width=7% 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;">-</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;">100</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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;">5,888</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=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;">7,193</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;">3,901</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;">3,701</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=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;">(2,731)</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;">20,936</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=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;">(2,139)</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;">(1,109)</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;">(1,584)</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=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;">1,474</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;">(9,020)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=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;">(253)</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;">(138)</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;">(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=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;">174</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;">(1,034)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net margin before provisions (5)</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;">2,554</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=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;">4,800</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;">2,654</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;">1,992</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=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;">(1,083)</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;">10,883</font></b></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td valign=bottom width=26% 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=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;">(303)</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;">(225)</font></font></p>
  </td>
 <td nowrap width=7% 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;">(1,555)</font></font></p>
  </td>
 <td nowrap width=7% 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;">(1,202)</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;">(638)</font></font></p>
  </td>
 <td nowrap width=7% 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;">24</font></font></p>
  </td>
 <td nowrap width=7% 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;">(2)</font></font></p>
  </td>
 <td nowrap width=7% 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;">221</font></font></p>
  </td>
 <td nowrap width=7% 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;">-</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;">(3,681)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom 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 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">24</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 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=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">118</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 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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom 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 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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(137)</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 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(137)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=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;">3,269</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;">1,444</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;">1,288</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=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;">(881)</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;">7,565</font></b></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom 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 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: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;">(437)</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;">(185)</font></font></p>
  </td>
 <td nowrap width=7% 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;">(901)</font></font></p>
  </td>
 <td nowrap width=7% 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;">(293)</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;">(469)</font></font></p>
  </td>
 <td nowrap width=7% 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;">(52)</font></font></p>
  </td>
 <td nowrap width=7% 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;">350</font></font></p>
  </td>
 <td nowrap width=7% 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;">177</font></font></p>
  </td>
 <td nowrap width=7% 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;">(233)</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;">(2,042)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 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: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;">1,403</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;">736</font></b></font></p>
  </td>
 <td nowrap width=7% 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;">2,368</font></b></font></p>
  </td>
 <td nowrap width=7% 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;">1,151</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;">819</font></b></font></p>
  </td>
 <td nowrap width=7% 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;">96</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(704)</font></b></font></p>
  </td>
 <td nowrap width=7% 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;">633</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;">5,523</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=26% 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;"><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: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;"><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=7% 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;"><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=7% 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;"><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: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;"><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=7% 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;"><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=7% 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;">633</font></font></p>
  </td>
 <td nowrap width=7% 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;">704</font></font></p>
  </td>
 <td nowrap 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=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 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;">704</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 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:12.75pt;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;">1,403</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;">736</font></b></font></p>
  </td>
 <td nowrap width=7% 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;">2,368</font></b></font></p>
  </td>
 <td nowrap width=7% 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;">1,151</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;">819</font></b></font></p>
  </td>
 <td nowrap width=7% 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;">96</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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=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:12.75pt;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 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;">
  <td nowrap 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 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;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: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=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 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=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;">(241)</font></font></p>
  </td>
 <td nowrap width=7% 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=7% 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;">3</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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>
 <td nowrap width=7% 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;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=26% 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=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;">2,367</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;">567</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;">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=7% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=7% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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; &nbsp;</font></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;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; Consists
of the BBVA USA Adjustment.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;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; Other
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 income
statement, the capital gain from the sale of our stake in BBVA Chile has been
recorded under the heading &#8220;Gains (losses) 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;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;
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;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;(4)&#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:.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;">&#160;(5)&#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>

<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%;">125</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_131"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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 2020 Compared with 2019</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;">2020</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;">2019</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;">3,553 </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;">3,567 </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;">(0.4) </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;">1,802 </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 valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.9 </font></font></p>
  </td>
 </tr>
<tr style="height:27.65pt;">
  <td valign=bottom width=55% style="height:27.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-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:27.65pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">174 </font></font></p>
  </td>
 <td nowrap width=17% style="height:27.65pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:27.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(27.2) </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;">(440)</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 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;">4.9 </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;">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;">465 </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 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;">(10.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;">5,554 </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;">5,656 </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: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;">(2,580)</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 valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(7.1) </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;">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;">(460)</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 valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><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;">2,515 </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;">2,402 </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;">4.7 </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;">(1,167)</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;">(138)</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=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;">(538)</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 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;">39.3 </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;">809 </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 valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(56.9) </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;">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;">(200)</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 valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(59.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;">610 </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 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;">(56.1) </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;">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;">610 </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 valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(56.1) </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;">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;">606 </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 valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(56.3) </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>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;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;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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;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; </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><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;margin-left:14.2pt;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)
Not meaningful.</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, 2020 amounted to &#8364;3,553 million, a 0.4%
decrease compared with the &#8364;3,567 million recorded for the year ended December
31, 2019, mainly as a result of the lower interest rates. The net interest
margin over total average assets of this operating segment amounted to 0.89%
for the year ended December 31, 2020, compared with 0.99% for the year ended
December 31, 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;">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 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, 2020 amounted to &#8364;1,802 million, a 2.9% increase
compared with the &#8364;1,751 million recorded for the year ended December 31, 2019,</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">mainly due to the increase in fee and commission income from 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, 2020 was a net gain of &#8364;174 million, a 27.2% decrease compared with the &#8364;239
million net gain recorded for the year ended December 31, 2019, mainly as a
result of decreased sales in the Global Markets unit in Spain, partially offset
by greater ALCO portfolio sales.</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%;">126</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;">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, 2020 amounted to &#8364;440 million, a 4.9% increase compared
with the &#8364;419 million expense recorded for the year ended December 31, 2019, </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">mainly due to the greater
contributions made to the Deposit Guarantee Fund of Credit Institutions and to
the ECB&#8217;s Single Resolution 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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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, 2020 was &#8364;465
million, a 10.1% decrease compared with the &#8364;518 million recorded for the year ended
December 31, 2019, mainly as a result of lower insurance activity related to
insurance-savings products in Spain (through BBVA Seguros) and to a lesser
extent, as a consequence of the sale agreement of the non-life portfolio
(excluding health insurance) to Allianz in the fourth quarter of 2020. See &#8220;</font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4. Information on the Company&#8212;</font></i></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">History and Development of the
Company&#8213;Capital Divestitures</font></i></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;2020</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.</font></font></p>

<p style="border:none;margin: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, 2020 amounted to &#8364;2,580 million, a 7.1%
decrease compared with the &#8364;2,777 million recorded for the year ended December
31, 2019, mainly as a result of cost reduction plans</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;">and a decrease
in certain general expenses driven by the lockdown derived from the COVID-19
pandemic.</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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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, 2020 was &#8364;460 million, a 3.4% decrease compared with the &#8364;476
million recorded for the year ended December 31, 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;">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, 2020 amounted to a&#160;
&#8364;1,167 million expense compared with the &#8364;138 million expense recorded for the
year ended December 31, 2019, </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">mainly as a result of
the deterioration of macroeconomic conditions especially during the first half
of 2020, caused by COVID-19 (which led to significant credit quality
deterioration in the portfolio of financial assets measured at amortized cost
(mainly loans and advances to customers from the leisure and transportation
sectors)) and lower write-off recoveries. The increase was partially offset by</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> the effect of payment deferrals and financing
backed by public guarantees granted by the Group to its customers (by which
lower quality loans were replaced with higher quality loans). </font></font><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 positively affected by our</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
sale of non-performing and in-default mortgage credits as part of the Anfora
transaction </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">in the
third quarter of 2019</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;">Factors
Affecting the Comparability of our Results of Operations and Financial
Condition&#8212;Agreement with Voyager Investing UK Limited Partnership (Anfora)</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</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, 2020 were a &#8364;538 million
expense, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">39.3</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% increase compared with the &#8364;386 million
expense recorded for the year ended December 31, 2019, mainly due to higher
provisions for various purposes, including potential claims.</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, 2020 was &#8364;809
million, a 56.9% decrease compared with the &#8364;1,878 million profit recorded for the
year ended December 31, 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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">127</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_133"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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, 2020 was an expense of &#8364;200
million, a 59.1% decrease</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">compared with the &#8364;489
million expense recorded for the year ended December 31, 2019 </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">as a result of the lower operating profit recorded for the
year ended December 31, 2020. Tax expense amounted to 24.7% of operating profit
before tax for the year ended December 31, 2020 and 26.0% for the year ended
December 31, 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;">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, 2020 amounted to &#8364;606 million, a 56.3% decrease compared with the
&#8364;1,386 million profit recorded for the year ended December 31, 2019.</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;"><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;">2020</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;">2019</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;">2,284</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(4.6) </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;">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;">665</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;">3.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">220</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;">
  <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;">(17)</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 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. (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;">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;">3,152</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(2.2) </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;">(1,662)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">(209)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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 width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,281</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1.9 </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;">(776)</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 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;">41.0 </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;">(4)</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 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;">70.8 </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;">502</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(28.8) </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;">(73)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(36.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;">429</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 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;">(27.2) </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;">429</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(27.2) </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;">429</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(27.2) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;page-break-after:avoid;text-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; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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;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;Not meaningful.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;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 margin before provisions&#8221; is calculated as &#8220;Gross income&#8221; less
&#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;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:0cm;margin-right:0cm;margin-top:0cm;text-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, 2020 the U.S. dollar depreciated 2.0% against the
euro in average terms, resulting in a negative exchange rate effect on our
consolidated income statement for the year ended December 31, 2020 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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;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%;">128</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_134"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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, 2020
amounted to &#8364;2,284 million, a 4.6% decrease compared with the &#8364;2,395 million
recorded for the year ended December 31, 2019, mainly due to the Federal
Reserve&#8217;s decrease in interest rates since the second half of 2019, including
in response to COVID-19 (by 225 basis points in total), thus lower income from
the commercial banking and retail portfolios, partially offset by lower funding
costs and the depreciation of the U.S. dollar. The net interest margin over
total average assets of this operating segment amounted to 2.36% for the year
ended December 31, 2020, compared with 2.78% for the year ended December 31,
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 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, 2020
amounted to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">665</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, a </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">3.2</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% increase
compared with the &#8364;644 million recorded for the year ended December 31, 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: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, 2020 was a net gain of </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">220</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, a </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">27.4</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% increase compared with the &#8364;173 million gain recorded for
the year ended December 31, 2019, mainly as a result of higher corporate banking
gains.</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,
2020 amounted to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">17</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, compared with the &#8364;12 million income recorded for
the year ended December 31, 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;">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, 2020 amounted
to &#8364;1,662 million, a 4.9% decrease compared with the &#8364;1,747 million recorded
for the year ended December 31, 2019 mainly due to a decrease in general
expenses and the depreciation of the U.S. dollar.</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 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, 2020 was &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">209 </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">million, a </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">4.7</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% decrease compared with the &#8364;219 million recorded for the
year ended December 31, 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;">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
was a &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">776 </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">million
expense for the year ended December 31, 2020, a 41.0% increase compared with
the &#8364;550 million expense recorded for the year ended December 31, 2019, mainly
as a result of macroeconomic deterioration, especially during the first half of
2020, due to the negative effects of the COVID-19 pandemic (which led to
significant credit quality deterioration in the portfolio of financial assets
measured at amortized cost (mainly loans and advances to customers in the Oil
&amp; Gas sector), partially offset by the depreciation of the U.S. dollar.</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, 2020 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">were a
&#8364;4 million expense, compared with the &#8364;2 million expense recorded for the year
ended December 31, 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;">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, 2020 was &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">502</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, compared with the
&#8364;705 million of operating profit recorded for the year&nbsp;ended December 31,
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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">129</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_135"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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, 2020 was &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">73</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, compared with the
&#8364;115 million expense recorded for the year ended December 31, 2019, </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">as a result of the lower operating
profit before tax and changes to the applicable tax rate</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. Tax expense amounted to 14.5% of
operating profit before tax for the year ended December 31, 2020, compared with
16.3% for the year ended December 31, 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;">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, 2020 amounted to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">429</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, compared
with the &#8364;590 million recorded for the year ended December 31, 2019.
</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%;">130</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=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;">2020</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;">2019</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;">5,415</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6,209</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;">(12.8) </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;">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;">1,065</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(17.9) </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;">423</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">36.4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">(248)</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 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;">(7.1) </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;">362</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 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;">(24.4) </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;">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;">7,017</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(12.6) </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;">(2,028)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">(311)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(9.9) </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;">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;">4,677</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(13.1) </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;">(2,172)</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 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;">28.0 </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;">(33)</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 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;">2,472</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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;">(713)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(28.1) </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;">1,759</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(34.8) </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;">1,759</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(34.8) </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 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">1,759</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(34.8) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;page-break-after:avoid;text-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; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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;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:.0001pt;margin-left:14.2pt;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; Not meaningful.</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;">&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;">In the year ended December 31, 2020, the Mexican
peso depreciated 12.1% against the euro in average terms compared with the year
ended December 31, 2019, resulting in a negative exchange rate effect on our
consolidated income statement for the year ended December 31, 2020 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>

<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, 2020
amounted to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">5,415 </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">million, a </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">12.8</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% decrease
compared with the &#8364;6,209 million recorded for the year ended December 31, 2019,
mainly as a result of </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the depreciation of the Mexican peso against the
euro and the decrease in the interest reference rate by 300 basis points during
2020 in response to the COVID-19 pandemic crisis</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. At
constant exchange rates, there was a 0.7% decrease.</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
</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">5.00</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% for
the year ended December 31, 2020, compared with 5.91% for the year ended
December 31, 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 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, 2020
amounted to &#8364;1,065 million, a 17.9% decrease compared with the &#8364;1,298 million
recorded for the year ended December 31, 2019, mainly due to the depreciation
of the Mexican peso and, to a lesser extent, the decreased volume of
transactions by credit card customers as a result of the restrictions on
mobility adopted in response to the COVID-19 pandemic, which led to an increase
in the volume of transactions through digital channels (which do not generate
commissions for retail customers) and </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the temporary elimination or reduction of certain fees, such as </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">point of sale fees</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. At a constant exchange rate, there
was a 6.6% year-on-year 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%;">131</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 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, 2020 were &#8364;423 million, a 36.4%
increase compared with the &#8364;310 million gain recorded for the year ended
December 31, 2019, mainly as a result of increased sales in the Global Markets
unit in Mexico and securities&#8217; sales within the ALCO portfolio, along with the
positive impact of changes in exchange rates on foreign currency positions,
offset in part by the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">depreciation
of the Mexican peso against the euro</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: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, 2020 was a net expense of &#8364;248 million, a 7.1% decrease compared
with the &#8364;267 million net expense recorded for the year ended December 31, 2019,
mainly as a result of the depreciation of the Mexican peso against the euro,
partially offset by greater contributions made to the Deposit Guarantee Fund as
a result of increases in the volume of deposits (in local currency).</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, 2020 was &#8364;362 million, a 24.4% decrease compared with
the &#8364;479 million net income recorded for the year ended December 31, 2019, due
to a higher claims ratio and, to a lesser extent, 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: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, 2020 were &#8364;2,028
million, an 11.8% decrease compared with the &#8364;2,299 million recorded for the
year ended December 31, 2019, as a result of the depreciation of the Mexican
peso. At a constant exchange rate, administration costs increased by 0.4%. Such
increase was below Mexico&#8217;s inflation rate for the period.</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 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, 2020 was &#8364;311 million, a 9.9%
decrease compared with the &#8364;346 million recorded for the year ended December
31, 2019 mainly due to the depreciation of the Mexican peso against the euro.
At a constant exchange rate, depreciation and amortization increased by 2.5%.</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;">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, 2020 was a &#8364;2,172 million expense, a 28.0%
increase compared with the &#8364;1,698 million expense recorded for the year ended
December 31, 2019, mainly due to the macroeconomic deterioration especially in
the first half of 2020, as a result of the negative effects of the COVID-19
pandemic (which led to significant credit quality deterioration in the
portfolio of financial assets measured at amortized cost (mainly loans and
advances to customers). The increase was partially offset by</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> the effect of payment deferrals and financing
backed by public guarantees (by which lower quality loans were replaced with
higher quality loans) granted by the Group to its customers</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and the depreciation 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;">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, 2020 were a &#8364;33 million expense compared with the &#8364;5
million income recorded for the year ended December 31, 2019, mainly due to higher
provisions for contingent risks related to the COVID-19 pandemic.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">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, 2020 was &#8364;2,472 million, a 33.0% decrease
compared with the &#8364;3,691 million of operating profit recorded for the year ended
December 31, 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;">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, 2020 was &#8364;713 million, a 28.1% decrease
compared with the &#8364;992 million expense recorded for the year ended December 31,
2019, mainly as a result of the lower operating profit before tax. The tax
expense amounted to 28.8% of operating profit before tax for the year ended
December 31, 2020, and 26.9% for the year ended December 31, 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;">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, 2020 amounted to &#8364;1,759 million,
a 34.8% decrease compared with the &#8364;2,699 million recorded for the year ended
December 31, 2019.
</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%;">133</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_139"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">2020</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;">2019</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;">2,783</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">510</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(28.8) </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;">227</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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. (2)</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;">(11)</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 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;">12.4 </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;">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;">64</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 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;">3,573</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(0.5) </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;">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;">(880)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(15.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">(150)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(16.4) </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 (3)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,544</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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: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;">(895)</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 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;">(1.2) </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 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 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 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;">(1.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><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;">1,522</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">13.5 </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;">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;">(380)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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;">1,142</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">11.0 </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;">1,142</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">11.0 </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;">(579)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">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;">563</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;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; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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;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; 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:0cm;margin-bottom:.0001pt;margin-left:14.2pt;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 </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:.0001pt;margin-left:14.2pt;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:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align: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 21.0% against the
euro in average terms in the year ended December 31, 2020, resulting in a
negative exchange rate effect on our consolidated income statement for the year
ended December 31, 2020 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>

<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, 2020
amounted to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2,783 </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1.1</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">%
decrease compared with the &#8364;2,814 million recorded for the year ended December
31, 2019 as a result of the depreciation of the Turkish lira against the euro. At
a constant exchange rate, there was a 25.2% increase in net interest income,
mainly as a result of the higher customer spreads in Turkish lira-denominated
loans and higher loan volumes.&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
</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">4.53</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% for the year ended December 31, 2020, compared
with 4.26% for the year ended December 31, 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 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, 2020
amounted to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">510</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">28.8</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">%
decrease compared with the &#8364;717 million recorded for the year ended December
31, 2019, mainly as a result of the depreciation of the Turkish lira and, to a
lesser extent, a reduction in the commissions charged to customers and the
impact of the COVID-19 pandemic on the volume of transactions.</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%;">134</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 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, 2020 amounted to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">227</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million gain, compared with the &#8364;10 million gain recorded for the
year ended December 31, 2019, mainly due to the results generated by trading
transactions and the positive impact of changes in exchange rates on foreign
currency positions, offset in part by 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;">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, 2020 was a &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">11</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million expense compared with the &#8364;10
million of net expense recorded for the year ended December 31, 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;">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, 2020 was &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">64</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, an </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">8.1</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% increase compared with the &#8364;60 million income recorded for the
year ended December 31, 2019, mainly as a result of higher sales in the
insurance business, partially offset by 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;">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, 2020 amounted
to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">880 </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">15.1</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">%
decrease compared with the &#8364;1,036 million recorded for the year ended December
31, 2019, mainly as a result of the depreciation of the Turkish lira against
the euro, partially offset by the increase in certain general expenses. At a
constant exchange rate, administration costs increased by 7.5%, which was below
Turkey&#8217;s inflation rate for the period.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><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, 2020 was &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">150</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">16.4</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% decrease compared with the &#8364;179
million recorded for the year ended December 31, 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;">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, 2020 was a &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">895</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
million expense, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1.2</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% decrease compared with the &#8364;906
million expense recorded for the year ended December 31, 2019, mainly due to
the depreciation of the Turkish lira against the euro and the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">effect of payment deferrals and financing backed
by public guarantees (by which lower quality loans were replaced with higher
quality loans) granted by the Group to its customers</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">,
partially offset by the impact of the macroeconomic deterioration as a result
of the negative effects of the COVID-19 pandemic (which led to significant
credit quality deterioration in the portfolio of financial assets measured at
amortized cost (mainly loans and advances to customers), and to certain
allowances for loan losses for specific commercial portfolio customers.</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, 2020 were a &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">127</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million
expense compared with the &#8364;128 million expense recorded for the year ended
December 31, 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;">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, 2020 was &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1,522 </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">13.5</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% increase compared with the &#8364;1,341 million
recorded for the year ended December 31, 2019. At a constant exchange rate,
operating profit increased by </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">43.7</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>


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 <p align=center style="border:none;margin:0cm;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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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_141"></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: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, 2020 was &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">380</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">21.7</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% increase compared with the &#8364;312
million expense recorded for the year ended December 31, 2019,</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;">mainly as a result of
the higher operating profit before tax. The effective tax rate amounted to </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">24.9</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% of the operating profit before tax for the year ended December
31, 2020, and 23.3% for the year ended December 31, 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;">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, 2020 amounted to &#8364;579 million, a 10.6% increase
compared with the &#8364;524 million recorded for the year ended December 31, 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;">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, 2020 amounted to &#8364;563
million, an 11.4% increase compared with the &#8364;506 million recorded for the year
ended December 31, 2019.
</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%;">136</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_142"></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>
<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;">SOUTH
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;">2020</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;">2019</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;">2,701</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;">3,196</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;">(15.5) </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;">484</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;">
  <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;">407</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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;">(459)</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 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;">(20.9) </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;">92</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 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;">(8.8) </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;">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;">3,225</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(16.2) </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;">(1,219)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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;">(154)</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 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;">(10.3) </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;">1,853</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;">(18.6) </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;">(864)</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 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;">11.3 </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;">(93)</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 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;">(10.2) </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;">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;">896</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(35.8) </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;">(277)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(24.5) </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;">619</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(39.8) </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;">619</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(39.8) </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 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(43.7) </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 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;">446</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(38.2) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;page-break-after:avoid;text-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; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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;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:.0001pt;margin-left:14.2pt;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:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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, 2020, the
Argentine peso, the Colombian peso and the Peruvian sol depreciated by 34.8%
(considering the period-end exchange rates), 12.9% and 6.5%, respectively,
against the euro in average terms, compared with the year ended December 31,
2019. Overall, changes in exchange rates resulted in a negative exchange rate
effect on our consolidated income statement for the year ended December 31,
2020 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,
2020 and 2019 and for the years then ended, the Argentine and Venezuelan
economies were considered to be hyperinflationary as defined by IAS 29 </font><font color=black 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;Hyperinflationary economies</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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, 2020
amounted to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2,701 </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">15.5</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">%
decrease compared with the &#8364;3,196 million recorded for the year ended December
31, 2019,</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> mainly </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">as a result of the depreciation of the currencies of the
main countries where the BBVA Group operates against the euro. At constant
exchange rates, there was a </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.9</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% increase. The
net interest margin over total average assets of this operating segment
amounted to </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">4.84</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% for the year ended December
31, 2020, compared with 5.71% for the year ended December 31, 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="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>

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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;">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, 2020 amounted to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">484</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">13.1</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% decrease compared with the &#8364;557
million recorded for the year ended December 31, 2019,</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> &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;">mainly as a result of the depreciation of the currencies of
the main countries where the BBVA Group operates within this operating segment
against the euro. At a constant exchange rate, there was a 0.6% increase.</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-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 gains on financial assets and liabilities
and exchange differences of this operating segment for the year ended December
31, 2020 were &#8364;407 million, a 29.3% decrease compared with the &#8364;576 million
gain recorded for the year ended December 31, 2019, mainly due to the negative
impact of changes in exchange rates on foreign currency positions and the depreciation
of the currencies of the main countries where the BBVA Group operates within
this operating segment against the euro, partially offset by the increased
valuation of the BBVA Group&#8217;s stake in Prisma Medios de Pago, S.A. in
Argentina. Net gains on financial assets and liabilities and exchange
differences of this operating segment for the year ended December 31, 2019 was
positively affected by the sale of the stake BBVA Argentina had in Prisma
Medios de Pago S.A. in the first quarter of 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,
2020 was &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">459</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">20.9</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">%
decrease compared with the &#8364;580 million expense recorded for the year ended
December 31, 2019, mainly driven by the adjustment for hyperinflation in
Argentina and, to a lesser extent, the depreciation of the currencies of the
main countries where the BBVA Group operates within this operating segment
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;">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, 2020 was &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">92</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, an </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">8.8</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% decrease compared with the &#8364;101 million net income recorded for
the year ended December 31, 2019 as a result of the depreciation of the currencies
of the main countries where the BBVA Group operates within this operating
segment against the euro. At constant exchange rates, there was a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">16.9</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% increase mainly explained by the increase in income related to
life insurance in 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, 2020 amounted
to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1,219 </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">13.1</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">%
decrease compared with the &#8364;1,403 million recorded for the year ended December
31, 2019, mainly as a result of the depreciation of the currencies of the main
countries where the BBVA Group operates within this operating segment against
the euro. At constant exchange rates, there was a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">3.0</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">%
increase.</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;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, 2020 was &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">154</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">10.3</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% decrease compared with the &#8364;171 million recorded for the year ended
December 31, 2019, mainly due to the depreciation of the currencies of the main
countries where the BBVA Group operates within this operating segment against
the euro.</font></font></p>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">138</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: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, 2020 was a &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">864</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
million expense, an </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">11.3</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% increase compared with the &#8364;777
million expense recorded for the year ended December 31, 2019, mainly due to
the deterioration in the macroeconomic scenario especially during the first
half of 2020, caused by the impact of COVID-19 (which led to significant credit
quality deterioration in the portfolio of financial assets measured at
amortized cost (mainly loans and advances to customers)), in particular in Peru
and Colombia. The increase was partially offset by</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> the effect of payment deferrals and financing backed by
public guarantees (by which lower quality loans were replaced with higher
quality loans) granted by the Group to its customers</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
and the depreciation of the currencies of the main countries where the BBVA
Group operates within this operating segment against the euro and reversals in
Argentina mainly driven by a CPI increase in the last quarter of 2020.</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, 2020 were a &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">93</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million expense, compared with the &#8364;103 million expense recorded
for the year ended December 31, 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;">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, 2020 was &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">896 </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">million,
a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">35.8</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% decrease compared with the &#8364;1,396 million
recorded for the year ended December 31, 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;">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, 2020 was &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">277</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">24.5</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% decrease compared with the &#8364;368
million expense recorded for the year ended December 31, 2019, mainly as a
result of the lower operating profit before tax</font></font><font color=#1F497D style="border:none;"><font color=#1F497D face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The effective tax rate amounted to </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">31.0</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 operating profit before tax for the year ended December 31, 2020, and 26.3%
for the year ended December 31, 2019, mainly driven by the increase in the
applicable tax rate in Colombia, from 33% to 36%.</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, 2020 amounted to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">173</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">43.7</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% decrease compared with the &#8364;307
million recorded for the year ended December 31, 2019, due to the lower
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-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;">As a result of the foregoing, profit
attributable to parent company of this operating segment for the year ended
December 31, 2020 amounted to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">446</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million, a </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">38.2</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">%
decrease compared with the &#8364;721 million recorded for the year ended December
31, 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>
<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;">2020</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;">2019</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;">214</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;">22.4 </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;">150</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">137</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4.4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">3</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 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;">(15.5) </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;">6</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 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;">2.56 </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;">510</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">12.3 </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;">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;">(268)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2.5) </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;">(17)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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;">225</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">39.8 </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;">(38)</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 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 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">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;">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;">184</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">13.3 </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;">(48)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">33.3 </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;">137</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;">7.6 </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;">137</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;">7.6 </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 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">137</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;">7.6 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;page-break-after:avoid;text-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; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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;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:.0001pt;margin-left:14.2pt;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: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 year ended December 31, 2020 amounted to &#8364;214
million, a 22.4% increase compared with the &#8364;175 million recorded for the year
ended December 31, 2019 mainly due to increased transactional banking and
investment activity, in particular during the last quarter of 2020. The net
interest margin over total average assets of this operating segment amounted to
0.86% for the year ended December 31, 2020 compared with 0.84% for the year ended
December 31, 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 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, 2020
amounted to &#8364;150 million, an 8.2% increase compared with the &#8364;139 million
recorded for the year ended December 31, 2019 </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">mainly
due to increased transactional banking and investment activity, in particular
during the last quarter of 2020.</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, 2020 were &#8364;137 million, a 4.4% increase
compared with the &#8364;131 million net gain recorded for the year ended December
31, 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;">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, 2020 amounted to &#8364;268
million, a 2.5% decrease compared with the &#8364;275 million recorded for the year ended
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%;">140</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;">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, 2020 was &#8364;17 million, compared
with the &#8364;18 million recorded for the year ended December 31, 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;"><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, 2020 amounted to an expense of &#8364;38 million compared
with the &#8364;4 million expense recorded for the year ended December 31, 2019
mainly as result of higher loan loss allowances for certain specific wholesale customers.</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, 2020 were a &#8364;2 million expense compared with the &#8364;6 million income
recorded for the year ended December 31, 2019</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, 2020 was &#8364;184 million, a 13.3% increase compared with the &#8364;163
million recorded for the year ended December 31, 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;">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, 2020 was &#8364;48
million, a 33.3% increase compared with the &#8364;36 million expense recorded for
the year ended December 31, 2019, </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">mainly as a result
of the higher operating profit before tax</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: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, 2020 amounted to &#8364;137 million, a 7.6% increase
compared with the &#8364;127 million recorded for the year ended December 31, 2019.
</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%;">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>
<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;">2020</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;">2019</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;">(149)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(36.0) </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;">(59)</font></font></p>
  </td>
 <td width=15% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(73)</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;">(18.6) </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 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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. (2)</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;">64</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 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;">54.2 </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;">(17)</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 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;">(16.2) </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;">(57)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(83.1) </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;">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;">(625)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(18.2) </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;"><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;">(194)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.7 </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 (3)</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;">(876)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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: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 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="border:none;height:21.75pt;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: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. (2)</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;">(1,938)</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 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;">30.9 </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;"><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;">(2,810)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1.3 </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;">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;">174</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(32.5) </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;">(2,635)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">4.7 </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;">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;">-</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;">(2,635)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">4.7 </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;">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;">-</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 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;">(2,635)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">4.7 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;page-break-after:avoid;text-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; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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;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; 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:0cm;margin-bottom:.0001pt;margin-left:14.2pt;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 </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: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, 2020 was &#8364;149 million, a 36.0% decrease compared
with the &#8364;233 million net expense recorded for the year ended December 31,
2019, mainly due to the lower funding costs as a result of the reductions in
reference interest rates</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: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, 2020 was an
expense of &#8364;59 million, an 18.6% decrease compared with the &#8364;73 million expense
recorded for the year ended December 31, 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 gains on financial
assets and liabilities and exchange differences of the Corporate Center for the
year ended December 31, 2020 were &#8364;104 million, compared with the &#8364;54 million net
losses recorded for the year ended December 31, 2019, mainly as a result of the
positive impact of changes in exchange rates on foreign currency positions.</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, 2020 was &#8364;64 million compared with the &#8364;41
million of net income recorded for the year ended 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%;">142</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_148"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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, 2020 amounted to &#8364;625
million, an 18.2% decrease compared with the &#8364;765 million recorded for the year
ended December 31, 2019, mainly as a result of the decrease in personnel
expense and in certain other general expenses.</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;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, 2020 was &#8364;194 million compared with the &#8364;190 million recorded for
the year ended December 31, 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;">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, 2020 were a &#8364;1,938 million expense compared with the &#8364;1,481
million expense recorded for the year ended December 31, 2019, 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;2,084 million, and was mainly the result of the negative impact of
the update of the macroeconomic scenario following the onset of COVID-19. For
additional information, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8212;Critical Accounting Policies&#8212;Goodwill in
consolidation</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;. This expense was partially offset by the profit recognized
from the transaction with Allianz Compa&#241;&#237;a de Seguros y Reaseguros, S.A. (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;2020&#8221;).</font></i></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, 2020 was &#8364;2,810 million compared with the &#8364;2,775 million loss
recorded for the year ended December 31, 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;">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, 2020 amounted to &#8364;174 million, </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a 32.5%
decrease </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">compared with the &#8364;258 million income recorded for the year ended
December 31, 2019</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: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;2,635 million, compared with
the &#8364;2,517 million loss recorded for the year ended December 31, 2019.</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%;">143</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_149"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-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, 2019 and 2018 has been
restated for comparative purposes. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation of Financial
Information</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;. &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;"><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;">2019</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;">2018</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;">3,567 </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;">3,618 </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;">(1.4)</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;">1,751 </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;">1,682 </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;">4.1 </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;">239 </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;">529 </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;">(54.9)</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;">(419)</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;">(425)</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;">(1.5)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=54% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><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;">518 </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;">485 </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;">6.7 </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;">5,656 </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;">5,888 </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;">(4.0)</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;">(2,777)</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;">(3,027)</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=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;">(476)</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;">(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=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;">2,402 </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;">2,554 </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: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;">(138)</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;">(303)</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;">(54.5) </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;">(386)</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;">(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=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;">1,878 </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;">1,840 </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;">2.0 </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;">(489)</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;">(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=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;">1,389 </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;">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;">(1.1) </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;">1,389 </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;">1,403 </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;">(1.1) </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;">(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=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;">1,386 </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;">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>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:17.85pt;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:8.0pt;">&#160;(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 </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:.0001pt;margin-left:14.2pt;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: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;
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;"><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, o</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">n
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. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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;3,567 million, a 1.4%
decrease compared with the &#8364;3,618 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 0.99% 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 style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;page-break-after: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:.0001pt;margin-left:0cm;margin-right:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees
and commissions of this operating segment for the year ended December 31, 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, an 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:10.0pt;"> &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>

<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;138 million, a 54.5% decrease compared with the &#8364;303
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 </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#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></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:0cm;margin-bottom:.0001pt;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:.0001pt;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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 2.0% 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: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, 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><font style="border:none;">
&nbsp;</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 style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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: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;">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:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">12</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">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: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;">(550)</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 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;">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:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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;">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 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>

<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;">&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 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, an 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>


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

<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:12.0pt;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><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%;">148</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" 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;">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=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;">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=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;">1,298</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=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;">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:12.0pt;">
  <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;">(267)</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;">(236)</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;">13.1 </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;"><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;">479</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;">433</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;">10.6 </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;"><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;">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=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;">(2,299)</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=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;">(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=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;">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: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;">(1,698)</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;">(1,555)</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;">9.2 </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;">5</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;">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=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;">3,691</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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=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;">(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=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;">2,699</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=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;">2,699</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=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;">2,699</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;">2,367</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>

<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, an 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>


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

<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
adversely affected the year-on-year comparison.</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%;">150</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_156"></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: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:12.0pt;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><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.
</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%;">151</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_157"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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>

<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;">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;">2,814</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:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">(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;">23</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;">60</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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;">(906)</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 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;">(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="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;">(128)</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 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:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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;">506</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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>

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


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

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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 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>

<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>


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

 <p align=center style="border:none;margin:0cm;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%;">154</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_160"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;">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:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">(580)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">101</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">(171)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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;">(777)</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 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;">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="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 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 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:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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&#160; 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: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;">721</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;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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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_161"></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: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 10.5% 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, an 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 6.9% 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 48.6% increase,
mainly as a result of increased foreign-currency transactions in Argentina and
Peru and the sale of BBVA&#8217;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 10.6% 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, an 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 4.2% decrease.</font></font></p>

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

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


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

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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 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 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: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:12.0pt;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;721
million, a 24.7% increase compared with the &#8364;578 million recorded for the year
ended December 31, 2018.</font></font><font style="border:none;">
&nbsp;</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%;">157</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;">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:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">4</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">5</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;">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;">9.7 </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;">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;">(275)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">26.5 </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=57% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;">(4)</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 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;">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;">9.9 </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;">(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;"><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;">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>

<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>


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

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment 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 9.9% 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: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, 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><font style="border:none;">
&nbsp;</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%;">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">
<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;">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 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">(73)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">(54)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">41</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">(20)</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;">7.2 </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;">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;">(339)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">(765)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">(190)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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: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;">-</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 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;">(98.4) </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;">(1,481)</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 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">258</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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;">(2,517)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;">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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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;">(2,517)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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;">(2,517)</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 nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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>

<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>


<DIV bclFooter>

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

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

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;">&nbsp;</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="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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_167"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 7.5 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><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Recently, the liquidity programs implemented by
the ECB have resulted in a much lower dependence on customer deposits, which
has in turn lowered the level of competition for deposits in Spain.</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;">As
of December 31, 2020, BBVA had drawn down &#8364;35,032 million under the TLTRO III
and it intends to take up the remaining &#8364;3,468 million that is available to it
thereunder in March 2021.</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, 2020, 2019 and 2018 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;">2020</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;">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>
 </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;">51,454</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;">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>
 </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;">44,187</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;">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>
 </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;">353,224</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;">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>
 </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;">66,311</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;">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>
 </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;">17,975</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;">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>
 </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;">533,152</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;">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>
 </tr>
</table></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;353,224
million as of December 31, 2020 compared with &#8364;394,924 million as of December
31, 2019 (&#8364;388,682 million as of December 31, 2018), a 10.6% decrease, mainly attributable
to the reclassification to &#8220;Non-current assets and disposal groups classified
as held for sale&#8221; in the consolidated balance sheet as of December 31, 2020 of
the companies held for sale following the agreement BBVA reached on November
16, 2020 with The PNC Financial Services Group, Inc. and, to a lesser extent,
the depreciation of the currencies of the main countries where the BBVA Group
operates. See &#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;Sale of
BBVA USA to The PNC Financial Services Group</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;">Our customer deposits, excluding repurchase
agreements, amounted to &#8364;343,608 million as of December 31, 2020 compared with
&#8364;385,235 million as of December 31, 2019 (&#8364;377,216 million as of December 31,
2018).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><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, 2020, 2019 and 2018:</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;">2020</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;">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>
 </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;">44,187</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;">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>
 </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;">51,454</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;">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>
 </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;">95,642</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;">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>
 </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%;">162</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_168"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


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


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left: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;95,642 million as of
December 31, 2020 compared with the &#8364;87,305 million as of December 31, 2019
(&#8364;85,457 million as of December 31, 2018). The increase as of December 31, 2020
compared to December 31, 2019 was mainly attributable to an increase in time
deposits as a result of higher drawdowns under the TLTRO III facilities of the
ECB. 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.</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, 2020 we had &#8364;45,304 million of debt certificates, comprising &#8364;43,419
million in bonds and debentures and &#8364;1,884 million in promissory notes and
other securities, compared with &#8364;46,329 million, &#8364;44,381 million and &#8364;1,947
million outstanding, respectively, as of December&nbsp;31, 2019, and &#8364;43,477
million, &#8364;39,973 million and &#8364;3,504 million outstanding, respectively, as of
December 31, 2018 (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;16,295 million
in subordinated debt and subordinated deposits and &#8364;194 million in preferred
securities outstanding as of December 31, 2020 compared with &#8364;17,859 million
and &#8364;159 million, respectively, as of December 31, 2019 (&#8364;17,866 million and
&#8364;181 million, respectively, 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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following is a
breakdown as of December 31, 2020</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 certificates
(including bonds), subordinated debt, subordinated deposits and preferred
securities. 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;">4,428</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;">1,417</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;">4,865</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;">23,515</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;">11,079</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;">45,304</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;">2</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</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;">641</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;">110</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;">2,104</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;">13,629</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;">16,488</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;">2</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;">4,430</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;">2,057</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;">4,976</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;">25,619</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;">24,708</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;">61,792</font></b></font></p>
  </td>
 </tr>
</table></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 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 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 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</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;">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. For example, in response to the crisis caused by the
COVID-19 pandemic, certain restrictions were adopted that affect the
distribution and/or repatriation of dividends of some of the Group's
subsidiaries. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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;&#8213;Factors Affecting the
Comparability of our Results of Operations and Financial Condition&#8213;The
COVID-19 Pandemic&#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;">There is no assurance that in the future other similar
restrictions will not be adopted or that, if adopted, they will not adversely
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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;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%;">163</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_169"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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, 2020, 2019 and 2018,
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="-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 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, 2020,
2019</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and 2018, our RWAs, 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 2020,
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>

<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;line-height:107%;">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;line-height:107%;">&#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;line-height:107%;">.&nbsp;The COVID-19 pandemic may lead to further
consolidation in the sector through mergers, acquisitions or alliances. 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;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:107%;">There are four main trends that are expected to shape the
sector profitability in the future: </font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;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 COVID-19 pandemic crisis and actions taken by governments in
connection therewith. For a discussion on the impact of COVID-19 on the Group&#8217;s
business and, more generally, economic conditions, see </font></font><font color=black face="Times New Roman,serif" style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8220;&#8213;Factors Affecting the Comparability of our
Results of Operations and Financial Condition&#8213;The COVID-19 Pandemic&#8221;</font></i></font><font face="Times New Roman,serif" style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></i></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;">and </font></font><font face="Times New Roman,serif" style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8220;&#8213;Operating
Results&#8213;Operating Environment&#8221;</font></i></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;">;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:54.0pt;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;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;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 low (or even negative) interest rate environment (especially
in Spain). The impact of reductions of credit interest rates may not be fully
offset by a contraction of the deposit rates as customers are not accustomed to
negative deposit rates and deposits are crucial for the funding of banks.
Interest rate cuts are particularly important in countries 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;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:54.0pt;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;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:0cm;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;">a more challenging competitive environment with the entry of
non-bank digital financial services providers. Further, non-bank digital
financial services providers are growing very fast in line with technological
advances and becoming a very important competitor for the banking industry.
These entities do not have to comply with a regulation scheme as strict as that
applicable to banks. For additional information, see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Item 4. Information on
the Company&#8213;Competition</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;; and</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:53.85pt;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;">&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%;">164</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_170"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;">the completion and the implementation of the ongoing financial
regulatory reforms. On one hand, when such reforms are applied locally,
inconsistently and heterogeneously, regulatory fragmentation and the
implementation by some countries of more flexible or stricter rules or
regulations may put certain banks at a disadvantage.<a name="j0zll_0"></a><a name="fob9te_2"></a><a name="fob9te_2_bclEnd"></a><a name="j0zll_0_bclEnd"></a>
Conversely, 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 less fragmented, but more competitive,
landscape. Moreover, regulatory changes, adopted or proposed, as well as their
interpretation or application, have increased and may continue to substantially
increase operating expenses and decrease margins. For information on certain
significant supervision and regulatory matters which affect the Group, see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">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;line-height:normal;">&#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:18.15pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, there are new and evolving risks,
such as the increased risk of money laundering (including as a result of the
increase in remote account opening driven by the COVID-19 pandemic), market
based and asset management activities, misconduct risks and the decline of correspondent
banking, among others.</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, 2020, 2019 and 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: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;">2020</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;">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>
 </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;">64,869</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;">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>
 </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;">36,215</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;">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>
 </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;">1,863</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;">2,534</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>
 </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;">102,947</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;">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>
 </tr>
</table></div>



<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, 2020</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;">10,710</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;">13,898</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;">9,617</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;">11,079</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;">45,304</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;">755</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;">1,602</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;">502</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;">13,629</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;">16,488</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;">325,448</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;">8,920</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;">3,731</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;">4,562</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;">342,661</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;">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;">244</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;">430</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;">397</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;">1,602</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;">2,674</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;">36</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;">36</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;">683</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;">1,119</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;">860</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;">1,810</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;">4,473</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;">1,227</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;">950</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;">1,616</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;">6,158</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;">9,951</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=top 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;">339,103</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;">26,921</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;">16,723</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;">38,840</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;">421,588</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, 2020. The financial cost of such issuances for 2020, 2019
and 2018 is included in Note 37.2 to the Consolidated Financial Statements.</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;">&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%;">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>


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<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;">We have a one-tier
board system with a single collegiate body, the Board of Directors, that is
collectively responsible for the highest functions of managing the Company and
overseeing and controlling the management of the Company, all with the aim of
achieving the Company&#8217;s purpose and best corporate interest.</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 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 the annual report on corporate governance and a report
on directors&#8217; remuneration for 2020, according to the provisions established in
the 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 BBVA&#8217;s 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;">BBVA&#8217;s website was
created to facilitate information and communication with shareholders and other
stakeholders. 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:6.0pt;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, 13 of which are
non-executive directors and two are executive 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;">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 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>


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

<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, as well as directors&#8217; rights and duties.</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 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 to 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 and, in particular, to the provisions of
Spanish Law 10/2014 and Circular 2/2016, of the Bank of Spain, 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 its Group
companies, unless they have received express prior authorization from the Board
of Directors or the general shareholders&#8217; meeting, as appropriate, or unless
these activities had been provided or conducted before the director joined the
Bank, they had posed no effective competition and they had informed the Bank of
such at that time.</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:0cm;margin-bottom:10.0pt;margin-left:71.7pt;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: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 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:0cm;margin-bottom:10.0pt;margin-left:71.7pt;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: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 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:10.0pt;margin-left:71.7pt;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: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 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:0cm;margin-bottom:10.0pt;margin-left:71.7pt;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: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 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:0cm;margin-bottom:10.0pt;margin-left:71.7pt;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: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 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 2020, 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>

<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;">As of the date of
this Annual Report, our Board of Directors is comprised of 15 members, 13 of
which are non-executive directors and two are executive directors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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>


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


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.35pt;">
  <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Name</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Birth Year</font></b></font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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;height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Date Nominated</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Date<br>
  Re-elected</font></b></font></p>
  </td>
 <td valign=bottom width=28% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Principal Business
  Activities and Employment History<sup>(*)</sup></font></b></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=19% style="border:none;height:11.35pt;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;">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=9% style="border:none;height:11.35pt;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;">1966</font></font></p>
  </td>
 <td valign=top width=17% style="border:none;height:11.35pt;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;">Group
  Executive Chairman</font></font></p>
  </td>
 <td valign=top width=13% style="border:none;height:11.35pt;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;">May 4,
  2015</font></font></p>
  </td>
 <td valign=top width=14% style="border:none;height:11.35pt;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;">March
  15, 2019</font></font></p>
  </td>
 <td valign=top width=28% style="border:none;height:11.35pt;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 style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">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=9% style="height:11.35pt;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;">1974</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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;">Chief
  Executive Officer</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">December
  20, 2018</font></font></p>
  </td>
 <td valign=top width=14% style="height:11.35pt;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;">March
  15, 2019</font></font></p>
  </td>
 <td valign=top width=28% style="height:11.35pt;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 United States from 2017 to December 2018. Deputy CEO at Garanti BBVA
  between 2015 and 2017 and Vice President for retail and private banking at
  Garanti BBVA between 2012 and 2015.</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">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;">(1)(2)(3)(8)</font></font></p>
  </td>
 <td valign=top width=9% style="height:11.35pt;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;">1955</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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; Independent Director</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">March
  13, 2015</font></font></p>
  </td>
 <td valign=top width=14% style="height:11.35pt;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;">March
  16, 2018</font></font></p>
  </td>
 <td valign=top width=28% style="height:11.35pt;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. Chair 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
  Managing Partner 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 style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">Jaime
  F&#233;lix Caruana Lacorte</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)(2)(5)</font></font></p>
  </td>
 <td valign=top width=9% style="height:11.35pt;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;">1952</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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
  Director</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">March
  16, 2018</font></font></p>
  </td>
 <td valign=top width=14% style="height:11.35pt;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;">Not
  applicable</font></font></p>
  </td>
 <td valign=top width=28% style="height:11.35pt;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 Audit Committee since April 2019. Member of the Group of Thirty (G-30)
  and Sponsor (</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">patrono</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">) 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 Head of the Monetary, Capital Markets
  Department and Financial Counselor and General Manager at the International
  Monetary Fund (IMF), between 2003 and 2006 he was 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 style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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" style="font-size:8.0pt;">Ra&#250;l Catarino
  Galamba de Oliveira </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(5) (6)</font></font></p>
  </td>
 <td valign=top width=9% style="height:11.35pt;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-GB style="font-size:8.0pt;">1964</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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-GB style="font-size:8.0pt;">Independent
  Director</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">March
  13, 2020</font></font></p>
  </td>
 <td valign=top width=14% style="height:11.35pt;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;">Not
  applicable</font></font></p>
  </td>
 <td valign=top width=28% style="height:11.35pt;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
  Chair of the Board of Directors of CTT &#8211; Correios de Portugal, S.A. and
  non-executive director of Jos&#233; de Mello Sa&#250;de and
  Jos&#233; de Mello Capital. His career path has been mainly linked to McKinsey
  &amp; Company, where he was appointed partner in 1995, Director of the
  Portugal office in 2000, 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 Board from 2005 to 2011, member of the
  Partner Election and Evaluation Committees between 2001 and 2017, member of
  the Remuneration Committee from 2005 to 2013 and Chairman of the Global
  Learning Board from 2006 to 2011.</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:7.1pt;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;">&nbsp;</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">Bel&#233;n
  Garijo L&#243;pez</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)(4)</font></font></p>
  </td>
 <td valign=top width=9% style="height:11.35pt;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;">1960</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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
  Director</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">March
  16, 2012</font></font></p>
  </td>
 <td valign=top width=14% style="height:11.35pt;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;">March
  16, 2018</font></font></p>
  </td>
 <td valign=top width=28% style="height:11.35pt;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,
  since 2011, Chair of the International Senior Executive Committee (ISEC) of
  PhRMA, (Pharmaceutical Research and Manufacturers of America). Previously,
  she was President of Commercial Operations for Europe and Canada at Sanofi
  Aventis.</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">Sunir
  Kumar Kapoor</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 <td valign=top width=9% style="height:11.35pt;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;">1963</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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
  Director</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">March
  11, 2016</font></font></p>
  </td>
 <td valign=top width=14% style="height:11.35pt;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;">March
  15, 2019</font></font></p>
  </td>
 <td valign=top width=28% style="height:11.35pt;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 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 style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">Lourdes
  M&#225;iz Carro</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)(4)</font></font></p>
  </td>
 <td valign=top width=9% style="height:11.35pt;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;">1959</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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
  Director</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">March
  14, 2014</font></font></p>
  </td>
 <td valign=top width=14% style="height:11.35pt;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-GB style="font-size:8.0pt;">March
  13, 2020</font></font></p>
  </td>
 <td valign=top width=28% style="height:11.35pt;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
  (</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Cuerpo de Abogados del Estado</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">) 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, including
  Director of the Cabinet of the Assistant Secretary of Public Administration
  and General Director of the Sociedad Estatal de Participaciones Patrimoniales
  (SEPPA) within the Ministry of Economy and Finance.</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">Jos&#233;
  Maldonado Ramos</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)(3)</font></font></p>
  </td>
 <td valign=top width=9% style="height:11.35pt;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;">1952</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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;">External
  Director</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">January
  28, 2000</font></font></p>
  </td>
 <td valign=top width=14% style="height:11.35pt;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;">March
  16, 2018</font></font></p>
  </td>
 <td valign=top width=28% style="height:11.35pt;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. Previously, he
  was Board Secretary and Director of Legal Services for Empresa Nacional para
  el Desarrollo de la Industria Alimentaria, S.A. (Endiasa); Astilleros
  Espa&#241;oles, S.A</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">.</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">; and Iberia, L&#237;neas A&#233;reas de Espa&#241;a, S.A.</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">Ana
  Cristina Peralta Moreno</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)(4)</font></font></p>
  </td>
 <td valign=top width=9% style="height:11.35pt;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;">1961</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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
  Director</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">March
  16, 2018</font></font></p>
  </td>
 <td valign=top width=14% style="height:11.35pt;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;">Not
  applicable</font></font></p>
  </td>
 <td valign=top width=28% style="height:11.35pt;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, S.A. from 2013 to 2014. Chief Risk Officer and Member of the
  Management Committee of Banco Pastor, S.A. 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 style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">Juan
  Pi Llorens</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">(3)(5)(6)(7)</font></font></p>
  </td>
 <td valign=top width=9% style="height:11.35pt;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;">1950</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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
  Director</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">July
  27, 2011</font></font></p>
  </td>
 <td valign=top width=14% style="height:11.35pt;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;">March
  16, 2018</font></font></p>
  </td>
 <td valign=top width=28% style="height:11.35pt;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 of BBVA 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. 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>
</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%;">171</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_177"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:7.1pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">Ana
  Leonor Revenga Shanklin </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 <td valign=top width=8% style="height:11.35pt;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;">1963</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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
  Director</font></font></p>
  </td>
 <td valign=top width=12% style="height:11.35pt;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-GB style="font-size:8.0pt;">March
  13, 2020</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">Not
  applicable</font></font></p>
  </td>
 <td valign=top width=31% style="height:11.35pt;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;">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.</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:8.0pt;">She has held several positions of responsibility at
  the World Bank, 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>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">Susana
  Rodr&#237;guez Vidarte</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)(3)(5)</font></font></p>
  </td>
 <td valign=top width=8% style="height:11.35pt;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;">1955</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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;">External
  Director</font></font></p>
  </td>
 <td valign=top width=12% style="height:11.35pt;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;">May
  28, 2002</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">March
  13, 2020</font></font></p>
  </td>
 <td valign=top width=31% style="height:11.35pt;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. She was Dean of the faculty of Economics and Business
  Administration of the University of Deusto from 1996 to 2009, Director of the
  Instituto Internacional de Direcci&#243;n de Empresas (INSIDE) from 2003 to 2008
  and Director of the Postgraduate Area from 2009 to 2012. Doctor in Economic
  and Business Sciences from Universidad de Deusto.</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">Carlos Vicente Salazar Lomel&#237;n </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)</font></font></p>
  </td>
 <td valign=top width=8% style="height:11.35pt;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;">1951</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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;">External
  Director</font></font></p>
  </td>
 <td valign=top width=12% style="height:11.35pt;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-GB style="font-size:8.0pt;">March
  13, 2020</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">Not
  applicable</font></font></p>
  </td>
 <td valign=top width=31% style="height:11.35pt;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 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 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" style="font-size:8.0pt;">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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">His career path has been linked to the Grupo Fomento Econ&#243;mico
  Mexicano S.A.B. de C.V. (Femsa) until 2019, having held roles such as General
  Manager of Cervecer&#237;a Cuauht&#233;moc-Moctezuma and General Manager of Femsa from
  2014 to 2017.</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=19% style="height:11.35pt;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;">Jan
  Paul Marie Francis Verplancke</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=8% style="height:11.35pt;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;">1963</font></font></p>
  </td>
 <td valign=top width=17% style="height:11.35pt;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
  Director</font></font></p>
  </td>
 <td valign=top width=12% style="height:11.35pt;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;">March
  16, 2018</font></font></p>
  </td>
 <td valign=top width=13% style="height:11.35pt;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;">Not
  applicable</font></font></p>
  </td>
 <td valign=top width=31% style="height:11.35pt;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 style="height:11.35pt;">
  <td colspan=6 valign=top width=100% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(*)&nbsp;&nbsp; Where no date is
  provided, the position is currently held. </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&nbsp;&nbsp; Member of the Executive
  Committee. </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&nbsp;&nbsp; Member of the Audit
  Committee. </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&nbsp;&nbsp; Member of the
  Appointments and Corporate Governance Committee.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(4)&nbsp;&nbsp; Member of the
  Remunerations Committee.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(5)&nbsp;&nbsp; Member of the Risk and
  Compliance Committee.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(6)&nbsp;&nbsp; Member of the Technology
  and Cybersecurity Committee.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(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;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(8)&#160;&#160; Deputy
  Chair.</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%;">172</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:10.0pt;margin-left:7.1pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><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:10.0pt;margin-left:7.1pt;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;">&#160;Senior Management</font></b></font></p>

<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;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-collapse:collapse;width:100%;">
 <tr style="height:11.35pt;">
  <td valign=top width=21% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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=19% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><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=60% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;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
  Occupation and Employment History(*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=21% style="border:none;height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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=19% style="border:none;height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Group Executive Chairman</font></font></p>
  </td>
 <td valign=top width=60% style="border:none;height:11.35pt;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 style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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=19% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Chief Executive Officer</font></font></p>
  </td>
 <td valign=top width=60% style="height:11.35pt;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 United States from 2017 to December 2018. Deputy CEO at Garanti BBVA
  between 2015 and 2017 and Vice President for retail and private banking at
  Garanti BBVA between 2012 and 2015.</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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=19% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">General Secretary</font></font></p>
  </td>
 <td valign=bottom width=60% style="height:11.35pt;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 and
  Secretary of the Board of Directors 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 style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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=19% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Head of Legal</font></font></p>
  </td>
 <td valign=bottom width=60% style="height:11.35pt;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 style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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=19% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Spain Country Manager</font></font></p>
  </td>
 <td valign=bottom width=60% style="height:11.35pt;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 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 style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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=19% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Head of Talent &amp; Culture</font></font></p>
  </td>
 <td valign=bottom width=60% style="height:11.35pt;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 style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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=19% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Head of Strategy &amp; M&amp;A</font></font></p>
  </td>
 <td valign=bottom width=60% style="height:11.35pt;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. She has held other 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 style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Jos&#233; Luis Elechiguerra Joven
  (**)</font></font></p>
  </td>
 <td valign=top width=19% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Head of Engineering &amp; Organization</font></font></p>
  </td>
 <td valign=top width=60% style="height:11.35pt;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 2020. He has held other relevant positions within
  the BBVA Group such as Head of Client Solutions at BBVA USA during 2019,
  Global Director of Data Governance from 2017 to 2019 and Global Director of
  Organization &amp; Business Process Engineering from 2015 to 2017, both
  positions at BBVA. Director of Business Transformation from 2013 to 2015,
  Director of Strategic &amp; Financial Planning for the Retail Business from 2011
  to 2013 and Director of Business Development &amp; Strategic Planning for the
  Mortgage Business, all of them at BBVA M&#233;xico.</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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=19% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Head of Regulation &amp; Internal Control</font></font></p>
  </td>
 <td valign=bottom width=60% style="height:11.35pt;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>
</table></div>




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</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Head of Corporate &amp; Investment
  Banking</font></font></p>
  </td>
 <td valign=bottom width=61% style="height:11.35pt;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 style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Head of Internal Audit</font></font></p>
  </td>
 <td valign=bottom width=61% style="height:11.35pt;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. He has 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 style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Head of Data</font></font></p>
  </td>
 <td valign=bottom width=61% style="height:11.35pt;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. In addition, he held the position of Global Head
  of Digital Banking at Nordea between 2016 and 2017.</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Mexico Country Manager</font></font></p>
  </td>
 <td valign=bottom width=61% style="height:11.35pt;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 style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Head of Client Solutions</font></font></p>
  </td>
 <td valign=bottom width=61% style="height:11.35pt;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 style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><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="height:11.35pt;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 style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Head of Country Monitoring</font></font></p>
  </td>
 <td valign=bottom width=61% style="height:11.35pt;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 style="height:11.35pt;">
  <td valign=top width=21% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;text-align:justify;"><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="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Head of Global Risk Management</font></font></p>
  </td>
 <td valign=bottom width=61% style="height:11.35pt;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 style="height:11.35pt;">
  <td colspan=3 valign=top width=100% style="height:11.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:4.5pt;text-align:justify;"><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:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(**) The exercise of his duties as Senior
  Manager of the Bank is subject to his prior registration on the Registry of
  Senior Officers of the Bank of Spain.</font></font></p>
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>




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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="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: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><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Directors&#8217; Remuneration Policy&#8221;),</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> 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 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: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>

<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;">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
for this staff. The result is a remuneration scheme for the Identified Staff
based, inter alia, on the following basic characteristics, with the
particularities set forth below for executive directors and BBVA 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: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;">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 ex ante 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:</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;">40% of the annual variable remuneration for members of the
Identified Staff and 60% of the annual variable remuneration for executive
directors, Senior Management and those members of the Identified Staff with
particularly high variable remuneration amounts shall be deferred over a period
of three years (for members of the Identified Staff) and for five years (for
executive directors and Senior Management).</font></font></p>


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


</DIV>
<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;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;">Both the upfront portion and the deferred portion of the annual
variable remuneration for members of the Identified Staff shall be paid 50% in
cash and 50% in BBVA shares. For executive directors and members of Senior
Management, the upfront portion shall also be paid 50% in cash and 50% in BBVA
shares and 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 for members
of the Identified Staff, subject to the multi-year performance indicators,
shall vest, if conditions are met, after the third year of deferral, except
that, in the case of executive directors and Senior Management, it shall vest,
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;">No personal hedging strategies or insurance may be used 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;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, 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-bottom:.0001pt;margin-left:35.7pt;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;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:53.45pt;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:115%;">a)</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%;">misconduct, fraud or serious infringement of the Code of Conduct
and other applicable internal rules by such executive director; </font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:53.45pt;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:115%;">b)</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%;">regulatory sanctions or judicial convictions due to events that
could be attributed to such executive director;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:53.45pt;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:115%;">c)</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%;">significant failure of risk management committed by the Bank or by
a business or risk control unit, to which the willful misconduct or gross
negligence of such executive director contributed; or</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.3pt;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:115%;">d)</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%;">restatement of the Bank&#8217;s annual accounts, except where such
restatement is due to a change in applicable accounting legislation.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;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:115%;">For these purposes, the Bank
will compare the performance assessment carried out for the relevant member of
the Identified Staff with the ex post 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:10.0pt;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:115%;">Notwithstanding the foregoing,
in the event that these scenarios give rise to termination of contract of the
member of the Identified Staff 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:10.0pt;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:10.0pt;margin-left:0cm;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;">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>


<DIV bclFooter>

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

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_182"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">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 2020</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 2020 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-US style="font-size:9.0pt;">Jos&#233; Miguel Andr&#233;s Torrecillas
  </font></font></p>
  </td>
 <td nowrap valign=top width=8% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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=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:9.0pt;">111</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">66</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">36</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=top width=11% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">115</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td valign=top width=9% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">50</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">507</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-US style="font-size:9.0pt;">Jaime Caruana Lacorte </font></font></p>
  </td>
 <td nowrap valign=top width=8% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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=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:9.0pt;">167</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=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:9.0pt;">165</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=top width=7% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">567</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-US style="font-size:9.0pt;">Ra&#250;l Galamba de Oliveira (2)</font></font></p>
  </td>
 <td nowrap valign=top width=8% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">107</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=top width=9% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">71</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=center style="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: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=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:9.0pt;">32</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=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:9.0pt;">211</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-US style="font-size:9.0pt;">Bel&#233;n Garijo L&#243;pez</font></font></p>
  </td>
 <td nowrap valign=top width=8% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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=center style="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: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=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:9.0pt;">66</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=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:9.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=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:9.0pt;">46</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=center style="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: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=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:9.0pt;">349</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-US style="font-size:9.0pt;">Sunir Kumar Kapoor </font></font></p>
  </td>
 <td nowrap valign=top width=8% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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=center style="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: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=center style="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: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=center style="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: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=center style="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: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=center style="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: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=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:9.0pt;">43</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=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:9.0pt;">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" lang=EN-US style="font-size:9.0pt;">Lourdes M&#225;iz Carro</font></font></p>
  </td>
 <td nowrap valign=top width=8% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;">&nbsp;</td>
 <td nowrap valign=top width=9% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">66</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=top width=12% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=center style="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: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=center style="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: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=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:9.0pt;">238</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-US style="font-size:9.0pt;">Jos&#233; Maldonado Ramos</font></font></p>
  </td>
 <td nowrap valign=top width=8% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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=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:9.0pt;">167</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=top width=11% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">46</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=center style="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: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=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:9.0pt;">342</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-US style="font-size:9.0pt;">Ana Peralta Moreno</font></font></p>
  </td>
 <td nowrap valign=top width=8% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;">&nbsp;</td>
 <td nowrap valign=top width=9% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">66</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=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:9.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=center style="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: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=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:9.0pt;">238</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-US style="font-size:9.0pt;">Juan Pi Llorens</font></font></p>
  </td>
 <td nowrap valign=top width=8% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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=center style="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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=top width=9% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">214</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=top width=11% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">46</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">43</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">80</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">512</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-US style="font-size:9.0pt;">Ana Revenga Shanklin (2)</font></font></p>
  </td>
 <td nowrap valign=top width=8% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">97</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=center style="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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=top width=9% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">71</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=top width=7% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">168</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-US style="font-size:9.0pt;">Susana Rodr&#237;guez Vidarte </font></font></p>
  </td>
 <td nowrap valign=top width=8% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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=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:9.0pt;">167</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=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:9.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=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:9.0pt;">46</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=center style="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: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=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:9.0pt;">449</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-US style="font-size:9.0pt;">Carlos Salazar Lomel&#237;n (2)</font></font></p>
  </td>
 <td nowrap valign=top width=8% style="height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">97</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=center style="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: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=center style="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: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=center style="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: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=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:9.0pt;">29</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="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: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=center style="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: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=center style="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: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=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:9.0pt;">125</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-US style="font-size:9.0pt;">Jan Verplancke</font></font></p>
  </td>
 <td nowrap valign=top width=8% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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=center style="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: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=center style="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: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=center style="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: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=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:9.0pt;">29</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=center style="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: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=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:9.0pt;">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=center style="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: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=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:9.0pt;">200</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=bottom 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;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
  (3)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,588</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=10% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">611</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">431</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">606</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">250</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">301</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">161</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">130</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4,078</font></b></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:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0cm;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;">(1)&#160;&#160; Includes
amounts received during the 2020 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. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0cm;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;">(2)&#160;&#160; Directors
appointed by the general shareholders&#8217; meeting held on March 13, 2020.
Remunerations paid based on the date on which the position was accepted.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">(3)&#160;&#160; Includes remuneration paid
for membership on the Board and its various committees during the 2020
financial year. The composition of these committees changed following the
resolution of the Board of Directors of April 29, 2020.</font></font></p>

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

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, during
the 2020 financial year, &#8364;95 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;text-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, Tom&#225;s
Alfaro Drake and Carlos Loring Mart&#237;nez de Irujo, who left their roles as
directors on March 13, 2020, received a total remuneration of &#8364;54 thousand and
&#8364;111 thousand, respectively, for their membership on the Board and the relevant
committees thereof during the first quarter of 2020. The Bank also paid
casualty and healthcare insurance premiums in an aggregate amount of &#8364;18
thousand in connection with such individuals.</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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Remuneration received by executive directors in 2020</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;">During the 2020
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>


<DIV bclFooter>

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

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_183"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 addition, the executive directors received
the upfront portion of the annual variable remuneration for the 2019 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 2020 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;">Hence, 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: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%;">40% of the 2019 annual
variable remuneration for executive directors was paid in the 2020 financial
year (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">upfront portion</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#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: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%;">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:115%;">deferred portion</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#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
2023, 20% in 2024 and the remaining 20% in 2025.</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: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%;">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: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%;">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: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%;">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: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%;">The variable component of the
remuneration for executive directors corresponding to 2019 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:11.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">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;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;">Additionally, upon receipt 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;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;">Moreover, during the 2020 financial year, in accordance with the
applicable remuneration policies for 2016 and in application of the settlement
and payment system of the annual variable remuneration for such financial year,
the executive directors received the deferred portion of the annual variable
remuneration for the 2016 financial year (50% of the annual variable
remuneration), the vesting of which was due during the 2020 financial year
after being adjusted downwards following the result of the multi-year
performance indicators. 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
2016 financial year.</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
above, remunerations paid to executive directors during 2020 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 2020 (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=top width=25% style="background:white;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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=top width=25% style="background:white;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,179</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 valign=top 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:.0001pt;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4,632</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%;">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;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 2020 financial year, the Chief Executive Officer (Consejero
Delegado) received a corresponding amount of fixed remuneration in cash in lieu
of pension (see &#8220;&#8212;Pension Commitments&#8221;), and for his mobility allowance. The
Bank paid the Chief Executive Officer &#8364;654 thousand and &#8364;600 thousand,
respectively, during the 2020 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 2019</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:9.0pt;"> &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:9.0pt;">&#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 valign=top 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">636</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">126,470</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 </font></font></p>
  </td>
 <td nowrap valign=top 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">571</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">113,492</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 valign=top 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;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,207</font></b></font></p>
  </td>
 <td colspan=2 nowrap valign=top 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;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">239,962</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:32.05pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">(1)</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</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 2019 financial year (paid 50% in cash and 50% in BBVA
shares). </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:32.05pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></b></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 2016</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:9.0pt;"> &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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">656</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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">89,158</font></font></p>
  </td>
 </tr>
<tr style="height:16.2pt;">
  <td width=58% style="background:white;border:none;border-bottom:double windowtext 2pt;height:16.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chief Executive Officer</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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">204</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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">31,086</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:9.0pt;"> &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;">861</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;">120,244</font></b></font></p>
  <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>
 </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-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&#160;(1&nbsp;</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 2016 financial
year (50% of the annual variable remuneration for 2016 in equal parts in cash
and shares), payment of which was due during the 2020 financial year, together
with its corresponding update in cash, and after its downward adjustment
following the result of the multi-year performance indicators. In the case of
both the Group Executive Chairman and the Chief Executive Officer, this
remuneration is associated with their previous positions.</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 2020 financial
year, including insurance premiums and others, amounting to a total of &#8364;360
thousand, of which &#8364;228 thousand was paid to the Group Executive Chairman and
&#8364;132 thousand was paid to the Chief Executive Officer. </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;">Jos&#233; Manuel
Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo, former Head of Global Economics &amp; Public
Affairs (GE&amp;PA), who ceased to be an executive director on March 13, 2020,
received &#8364;168 thousand as annual fixed remuneration; &#8364;174 thousand and 28,353
BBVA shares corresponding to both the upfront portion (40%) of the annual
variable remuneration for the 2019 financial year and the deferred portion of
the annual variable remuneration for the 2016 financial year, including the
corresponding cash update; as well as &#8364;33 thousand as remuneration in kind.</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
2020</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 2020
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 upfront portion of the annual variable remuneration for the 2019
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 2020 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%;">179</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: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 2019 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
2020 financial year, in accordance with the remuneration policy applicable to
Senior Management in 2016 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 2016 financial
year, after being adjusted downwards following the result of the multi-year
performance indicators. 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 2016 financial
year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In
accordance with the above, the remuneration paid during the 2020 financial year
to members of the Senior Management as a whole, who held that position as of
December 31, 2020 (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 2020 (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;">14,101</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 2019</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 euros) (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;">1,402</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;">280,055</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-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1) Represents remunerations
corresponding to the upfront portion (40%) of the annual variable remuneration
for the 2019 financial year (paid 50% in cash and 50% in BBVA shares), as well
as the upfront portion of the retention plans for two members of the Senior
Management.</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 Annual Variable Remuneration
  for 2016</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 euros) (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;">1,380</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;">182,461</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-align:justify;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
2016 financial year (50% of the annual variable remuneration for 2016 in equal
parts in cash and in shares), payment of which was due during the 2020
financial year, together with its corresponding update in cash, and after its
downward adjustment following the result of the multi-year performance
indicators.</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 2020 financial year, including insurance
premiums and others, amounting to a total of &#8364;1,086 thousand.</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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Remuneration to
be received by executive directors in 2021 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 2020</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top: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 view of the
exceptional circumstances arising from the COVID-19 crisis, the executive
directors have voluntarily waived their annual variable remuneration
corresponding to the 2020 financial year, so they will not accrue any
remuneration in this respect.</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;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 2017</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 2020 financial year, the amount corresponding to the deferred portion of
the annual variable remuneration of executive directors for the 2017 financial
year was determined, with vesting, if conditions are met, during 2021, in
accordance with the conditions set out in the remuneration policies applicable
to the 2017 financial year and applicable to each executive director.</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 2017 to calculate the deferred portion of this remuneration, and
in application of the corresponding scales of achievement and their
corresponding targets and weightings, the final amount of the deferred portion
of the annual variable remuneration for the 2017 financial year was determined.
</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 a result, such
remuneration was determined in an amount of &#8364;411 thousand and 83,692 BBVA
shares, in the case of the Group Executive Chairman, and &#8364;307 thousand and
39,796 BBVA shares, in the case of the Chief Executive Officer, including in
both cases the corresponding updates. </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 year-end 2020, in
accordance with the conditions established in the remuneration policies
applicable in previous years, the following amounts continued to be deferred
and were pending determination and payment, if the applicable conditions are
met: (i) 40% of the deferred portion of the annual variable remuneration for
the 2017 financial year of the Group Executive Chairman, and (ii) 60% of the
annual variable remuneration for the 2018 and 2019 financial years of both
executive directors.</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 2021 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 2020</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;">In view of the
exceptional circumstances arising from the COVID-19 crisis, the members of
Senior Management have, like the executive directors, voluntarily waived their
annual variable remuneration corresponding to the 2020 financial year, so they
will not accrue any remuneration in this respect.</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 2017</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 2020 financial year, the deferred portion of the annual variable
remuneration of Senior Management (15 members as of December 31, 2020,
excluding executive directors) for the 2017 financial year was determined, with
vesting, if conditions are met, taking place during the 2021 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 2017 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 2017 financial
year was determined. The aggregate total amount for the Senior Management,
excluding executive directors, was determined to be &#8364;610 thousand and
107,740&nbsp;BBVA shares, including the corresponding updates. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top: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;">At year-end 2020, in
accordance with the conditions established in the remuneration policies
applicable in previous years, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the
following amounts </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">continued to be
deferred and were pending determination and payment, if the applicable
conditions are met: (i) </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">40% of the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">deferred portion of the annual variable
remuneration for the 2017 financial year</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> with respect to certain members of the Senior Management,
and (ii) 60% of the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">annual variable
remuneration for the 2018 and 2019 financial years</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>


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<p style="border:none;margin:0cm;margin-bottom:12.0pt;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>

<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;">Fixed 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;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 a fixed 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;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 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 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;">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>

<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 2020 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 2019 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 2020</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, 2020</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Jos&#233; Miguel Andr&#233;s Torrecillas</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">20,252</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">75,912</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Jaime Caruana Lacorte</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">22,067</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">31,387</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Ra&#250;l Galamba de Oliveira</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">-</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Bel&#233;n Garijo L&#243;pez</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">14,598</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">62,126</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Sunir Kumar Kapoor</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">7,189</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">22,915</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Lourdes M&#225;iz Carro</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">10,609</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">44,929</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Jos&#233; Maldonado Ramos</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">14,245</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">108,568</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Ana Peralta Moreno</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">10,041</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">15,665</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Juan Pi Llorens</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">20,676</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">92,817</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Ana Revenga Shanklin</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">-</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Susana Rodr&#237;guez Vidarte</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">18,724</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">141,138</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Carlos Salazar Lomel&#237;n</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">-</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Jan Verplancke</font></font></p>
  </td>
 <td nowrap valign=bottom width=34% style="height:12.0pt;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-US style="font-size:9.0pt;">7,189</font></font></p>
  </td>
 <td nowrap valign=bottom width=33% style="height:12.0pt;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-US style="font-size:9.0pt;">12,392</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=33% style="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 (1)</font></b></font></p>
  </td>
 <td nowrap width=34% 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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">145,590</font></b></font></p>
  </td>
 <td nowrap width=33% 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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">607,849</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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160; Furthermore, 8,984 &#8220;theoretical
shares&#8221; were assigned to Tom&#225;s Alfaro Drake and 18,655 &#8220;theoretical shares&#8221;
were assigned to Carlos Loring Mart&#237;nez de Irujo, who left their roles as
directors on March 13, 2020. After leaving their roles, both directors received
a number of BBVA shares equivalent to the total number of &#8220;theoretical shares&#8221;
that each of them had accumulated until that date (102,571 and 135,046 BBVA
shares, respectively) by application of the system.</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;">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 system 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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;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">
<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.</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 2020 financial year, the following amounts were recorded to
meet the pension commitments for the Group Executive Chairman: &#8364;1,642 thousand
with regard to the retirement contingency and &#8364;377 thousand for the payment of
premiums for the death and disability contingencies, as well as the upwards
adjustment of &#8364;15 thousand for &#8220;discretionary pension benefits&#8221; for the 2019
financial year, which were declared at the end of the 2019 financial year and
had to be registered in the accumulated fund in the 2020 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,
2020, the total accumulated amount of the fund to meet the retirement
commitments for the Group Executive Chairman amounted to &#8364;23,057 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
2020 financial year, 15% (&#8364;246 thousand) was registered in that financial year
as &#8220;discretionary pension benefits&#8221;. Following the end of the 2020 financial
year, this amount was adjusted applying the same criteria used to determine the
annual variable remuneration for the rest of the Bank&#8217;s staff. Thus, the
&#8220;discretionary pension benefits&#8221; for the 2020 financial year were determined in
an amount of &#8364;148 thousand, following a downwards adjustment of &#8364;98 thousand.
These &#8220;discretionary pension benefits&#8221; will be included in the accumulated fund
for the 2021 financial year and will be subject to the 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 2020 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;Remuneration received by executive directors in 2020&#8221;. Furthermore, &#8364;253
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;">In the case of the
former Head of GE&amp;PA, as a former executive director, &#8364;89 thousand were
registered as contributions to fulfil the pension commitments undertaken in
proportion to the time he spent in office during the 2020 financial year. This
corresponds to: (i) the sum of the annual contribution made to cover the
retirement pension commitment and the adjustment made to the &#8220;discretionary
pension benefits&#8221; for the 2019 financial year that became due in the 2020
financial year once the annual variable remuneration for the year 2019 had been
determined (&#8364;52 thousand); and to the death and disability premiums (&#8364;37
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;">As of the date on
which he left his position, the total accumulated fund to meet the retirement
commitments for such former executive director amounted to &#8364;1,404 thousand,
with no additional contributions to be made by the Bank from that point on.</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;">&#8220;Discretionary pension
benefits&#8221; for the 2020 financial year for such former executive director (which
were calculated in proportion to the time he remained in office in 2020) were
determined in accordance with the same criteria used for the Group Executive
Chairman, in an amount of &#8364;5 thousand, following a downwards adjustment of &#8364;3
thousand, and will be included in the accumulated fund for the 2021 financial
year subject to the conditions established in the Remuneration Policy for BBVA
Directors.</font></font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font 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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_189"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;">Furthermore, in the 2020 financial year, to meet the
pension commitments for members of the Senior Management (15 members as of
December 31, 2020, excluding executive directors), the following amounts were
recorded: &#8364;2,739 thousand corresponding to the contribution to the retirement
contingency and &#8364;978 thousand corresponding to premiums to cover the death and
disability contingencies, as well as the upwards adjustment of &#8364;12 thousand for
&#8220;discretionary pension benefits&#8221; for the 2019 financial year, which were
declared at 2019 year-end and had to be registered in the accumulated fund in
2020. </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, 2020,
the total accumulated amount of the fund to meet the retirement commitments for
members of Senior Management amounted to &#8364;22,156 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 2020 financial year, an amount of &#8364;405 thousand was
registered as &#8220;discretionary pension benefits&#8221; during the 2020 financial year,
and following the end of the 2020 financial year, this amount was adjusted
applying the same criteria used to determine the annual variable remuneration
for the rest of the Bank's staff, in the same way as for the Group Executive
Chairman, but taking into account, as well, the area and individual results of
each senior manager established to these effects. </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, the
&#8220;discretionary pension benefits&#8221; for members of the Senior Management for the
2020 financial year were determined in an amount of &#8364;255 thousand, following a
downwards adjustment of &#8364;150 thousand, which will be included in the
accumulated fund for the 2021 financial year, subject to the conditions
established for these benefits in the remuneration policy applicable to members
of Senior Management, in accordance with the regulations applicable to BBVA on
this matter.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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;">The contractual
framework defined for the executive directors, in accordance with the
Directors&#8217; Remuneration Policy, establishes a post-contractual non-compete
clause, effective for a period of two (2) years after they leave their role as
BBVA executive directors, provided that they do not leave due to retirement,
disability or serious breach of duties. In compensation for this agreement, the
Bank shall award them remuneration of an amount equivalent to their annual
fixed remuneration for each year of the non-compete agreement, which will be
awarded monthly over the course of the two years.</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, the
former Head of GE&amp;PA, who left his role on March 13, 2020, received for
this concept, &#8364;625 thousand during the 2020 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;">With regard to Senior
Management, excluding executive directors, during the 2020 financial year, the
Bank paid out a total of &#8364;2,185 thousand resulting from the extinction of the
contractual relationship with one member of the Senior Management and in
fulfilment of the provisions of such member&#8217;s contract (for the payment of
legal severance benefits and notice). Such former member&#8217;s contract includes
the right to receive the corresponding legal severance pay, provided that the
member of Senior Management does not leave of his own will, for retirement,
disability or due to a serious breach of duties, which will be calculated in
accordance with the provisions of applicable labor regulations. Such contract
also includes a notice clause. In addition, the contract establishes a
non-compete clause, effective for a period of one (1) year after the member
leaves the role as a senior manager of BBVA, provided that the member does not
leave due to retirement, disability or serious breach of duties. In
compensation for this agreement, the member of Senior Management received a
total of &#8364;898 thousand during 2020.</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 members
of Senior Management belong.</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;">&nbsp;</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="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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_190"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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-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
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-align:justify;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 in the following sections.</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;">Executive Committee </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;">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-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, BBVA&#8217;s Executive Committee is
comprised of two executive directors, two external directors and two 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="height:11.35pt;page-break-inside:avoid;">
  <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p 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:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Position (type of
  directorship)</font></b></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p 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:justify;"><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 style="height:11.35pt;">
  <td valign=bottom width=50% style="border:none;height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chairman (Executive)</font></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Carlos
  Torres Vila</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Executive)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Onur
  Gen&#231;</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Mr. Jos&#233; Miguel Andr&#233;s
  Torrecillas</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Jaime
  F&#233;lix Caruana Lacorte</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (External)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Jos&#233;
  Maldonado Ramos</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (External)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">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;text-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 Regulations of the Executive
Committee, 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-align:justify;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:0cm;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;">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:0cm;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;">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:0cm;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;">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:0cm;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;">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: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;">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:.0001pt;margin-left:49.6pt;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;">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 align=center style="border:none;margin:0cm;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%;">185</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: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:.0001pt;margin-left:49.6pt;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;">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:.0001pt;margin-left:49.6pt;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;">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:.0001pt;margin-left:49.6pt;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;">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:.0001pt;margin-left:49.6pt;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;">The granting and revoking of the Bank&#8217;s powers of attorney.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:49.6pt;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;">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-bottom:.0001pt;margin-left:49.6pt;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;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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 2020, the Executive Committee met
thirty (30) 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-align:justify;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-align:justify;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:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><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>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.35pt;page-break-inside:avoid;">
  <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p 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:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Position (type of
  directorship)</font></b></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p 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:justify;"><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 style="height:11.35pt;">
  <td valign=bottom width=50% style="border:none;height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chairman (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Jaime
  F&#233;lix Caruana Lacorte</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Mr. Jos&#233; Miguel Andr&#233;s
  Torrecillas</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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=ES-TRAD style="font-size:9.0pt;">Mrs.
  Bel&#233;n Garijo L&#243;pez</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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=ES-TRAD style="font-size:9.0pt;">Mrs.
  Lourdes M&#225;iz Carro</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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=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:10.0pt;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>

<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 its Regulations, the Audit Committee has the following
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%;">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>


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 <p align=center style="border:none;margin:0cm;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-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:10.0pt;margin-left:53.55pt;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;">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:10.0pt;margin-left:53.55pt;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;">Monitor the independence, effectiveness and operation of the
Internal Audit function. </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="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:10.0pt;margin-left:53.55pt;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;">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:10.0pt;margin-left:53.55pt;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;">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 align=center style="border:none;margin:0cm;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%;">187</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_193"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">modificaciones&nbsp;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;"> </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">estructurales</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">); 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 align=center style="border:none;margin:0cm;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%;">188</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_194"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:21.3pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The 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 2020, the Audit Committee met thirteen (13) times.</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;">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-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, 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-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 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;margin-left:9.35pt;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,
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: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;">Appointments and Corporate Governance Committee </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 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-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 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-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 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="height:11.35pt;page-break-inside:avoid;">
  <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p 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:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Position (type of
  directorship)</font></b></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p 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:justify;"><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 style="height:11.35pt;">
  <td valign=bottom width=50% style="border:none;height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chairman (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Mr. Jos&#233; Miguel Andr&#233;s
  Torrecillas</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mrs. Bel&#233;n
  Garijo L&#243;pez</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (External)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Jos&#233;
  Maldonado Ramos</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Juan Pi
  Llorens</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (External)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mrs. Susana
  Rodr&#237;guez Vidarte</font></font></p>
  </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;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The functions of the Appointments and Corporate Governance Committee
according to its Regulations 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;text-align:justify;"><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;text-align:justify;"><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 align=center style="border:none;margin:0cm;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%;">189</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:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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:0cm;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:0cm;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:0cm;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:0cm;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:0cm;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:0cm;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:0cm;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:0cm;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:0cm;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:0cm;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:0cm;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:0cm;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:0cm;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:0cm;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:0cm;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>

<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-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 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-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
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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">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-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 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-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 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 2020, the Appointments and Corporate
Governance Committee met four (4) 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-align:justify;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-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 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-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 Remunerations Committee is
composed of four independent directors, including its Chair, and of one
external director, who are the following: </font></font></p>

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  <p 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:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Position (type of
  directorship)</font></b></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p 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:justify;"><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 style="height:11.35pt;">
  <td valign=bottom width=50% style="border:none;height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chairman (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mrs. Bel&#233;n
  Garijo L&#243;pez</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mrs.
  Lourdes M&#225;iz Carro </font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Mrs. Ana Cristina
  Peralta Moreno</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (External)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Carlos
  Salazar Lomel&#237;n</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Jan
  Paul Marie Francis Verplancke</font></font></p>
  </td>
 </tr>
</table>


</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;">&nbsp;</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 Regulations of the Remunerations Committee, the
scope of the functions of the Remunerations Committee is as follows:</font></font></p>

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

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


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

<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-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 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-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 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-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
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-align:justify;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 2020, the Remunerations Committee
met on four (4) occasions.</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: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-align:justify;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-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Risk 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-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 Risk and Compliance Committee
is composed of four independent directors, including its Chair, and of one
external director, who are the following:</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;">&nbsp;</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.35pt;page-break-inside:avoid;">
  <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p 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:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Position (type of
  directorship)</font></b></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p 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:justify;"><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 style="height:11.35pt;">
  <td valign=bottom width=50% style="border:none;height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chairman (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Juan Pi
  Llorens</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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=ES-TRAD style="font-size:9.0pt;">Mr. Jaime
  F&#233;lix Caruana Lacorte</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Mr. Ra&#250;l Catarino
  Galamba de Oliveira</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mrs. Ana
  Leonor Revenga Shanklin</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (External)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mrs. Susana
  Rodr&#237;guez Vidarte</font></font></p>
  </td>
 </tr>
</table>


</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;">&nbsp;</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;">Under the Regulations of the Risk and Compliance Committee, such
Committee has the following duties:</font></font></p>

<p style="border:none;margin-bottom:0cm;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%;">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:49.65pt;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:10.0pt;line-height:115%;">a)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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%;">The Group&#8217;s risk appetite; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.65pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-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:115%;">b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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%;">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>

<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;"><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:0cm;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:0cm;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:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">a)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">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>


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 <p align=center style="border:none;margin:0cm;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-bottom:0cm;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">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:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">c)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">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:0cm;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">d)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">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:0cm;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:0cm;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;">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:0cm;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-bottom:0cm;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;">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:0cm;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:0cm;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>

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


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 <p align=center style="border:none;margin:0cm;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%;">194</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:0cm;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:0cm;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:0cm;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-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
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-align:justify;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-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 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 2020, it held twenty-three (23) meetings.</font></font></p>

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

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-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 Technology and
Cybersecurity Committee&#8217;s essential function 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-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 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-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 the date of this Annual Report, the Technology and Cybersecurity Committee
is composed of one executive director and four independent directors, who are
the following:</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.35pt;page-break-inside:avoid;">
  <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p 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:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Position (type of
  directorship)</font></b></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p 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:justify;"><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 style="height:11.35pt;">
  <td valign=bottom width=50% style="border:none;height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chairman (Executive)</font></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Carlos
  Torres Vila</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Mr. Ra&#250;l Catarino
  Galamba de Oliveira</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Sunir
  Kumar Kapoor</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Juan Pi
  Llorens</font></font></p>
  </td>
 </tr>
<tr style="height:11.35pt;">
  <td valign=top width=50% style="height:11.35pt;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-align:justify;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Member (Independent)</font></font></p>
  </td>
 <td valign=bottom width=50% style="height:11.35pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Jan
  Paul Marie Francis Verplancke</font></font></p>
  </td>
 </tr>
</table>


</div>


<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">Under its regulations,
the Technology and Cybersecurity Committee has the following functions:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">-
Oversight of technological risk and cybersecurity management:</font></font></p>

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

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


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

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

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

<p style="border:none;margin-bottom:0cm;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.</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;"><font 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: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 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 2020 it held seven (7) 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;">&nbsp;</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">196</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_202"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;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, 2020, we had 123,174 employees. Approximately 93% 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, 2020</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;">23,971</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;">5,359</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;">29,330</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;">118</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;">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;">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;">68</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;">68</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;">42</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=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">43</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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">113</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">113</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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">447</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">447</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;">22</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=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">22</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;">236</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">236</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;">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=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">Romania</font></font></p>
  </td>
 <td nowrap valign=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">1,199</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">1,199</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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=top width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=top width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">20,357</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">20,357</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;">Malta</font></font></p>
  </td>
 <td nowrap valign=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">13</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">13</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;">Cyprus</font></font></p>
  </td>
 <td nowrap valign=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">103</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">103</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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">125</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 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;">24,271</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;">22,469</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;">5,486</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;">52,226</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;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height: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;">149</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;">10,746</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;">10,895</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;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height: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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">6,052</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;">6,052</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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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="margin:0cm;margin-bottom:.0001pt;page-break-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>
 <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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">6,592</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;">6,592</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;">Venezuela</font></font></p>
  </td>
 <td nowrap valign=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">2,012</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="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;">&nbsp;</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;">2012</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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">36,699</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;">154</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;">36,853</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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">590</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">590</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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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="margin:0cm;margin-bottom:.0001pt;page-break-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>
 <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;">476</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;">476</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=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">696</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">696</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="margin:0cm;margin-bottom:.0001pt;page-break-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>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">6,204</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">6,204</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;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height: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;">59,275</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;">636</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;">59,912</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;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height: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;">80</font></font></p>
  </td>
 <td nowrap valign=top width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">80</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=top width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">28</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=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">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;">10</font></font></p>
  </td>
 <td nowrap valign=top width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">10</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=top width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=top width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=top width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=top width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=top width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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;">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;">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;">-</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;">141</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;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height: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;">24,561</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;">92,491</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;">6,122</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;">123,174</font></b></font></p>
  </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;">&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%;">197</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_203"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


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


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of 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>

<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;">20,634</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;">20,634</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;">Malta</font></font></p>
  </td>
 <td nowrap valign=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">14</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">14</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;">Cyprus</font></font></p>
  </td>
 <td nowrap valign=top width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">111</font></font></p>
  </td>
 <td nowrap valign=top width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">111</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;">20,305</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;">20,305</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;">Malta</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;">13</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;">13</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;">Cyprus</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;">107</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;">107</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>



<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 decreased by 3.0% during 2020,
while it increased by 1.1% in 2019. The decrease in the number of employees in
2020 was mainly attributable to divestitures and restructuring plans.</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%;">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-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 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 Banking
Collective Bargaining Agreement (BCBA) was signed. This agreement became
effective on January 1, 2015 and was due to expire on December 31, 2018.
However the effectiveness of the XXIII BCBA has been extended until January 31,
2021 or, if earlier, the date on which a new collective bargaining agreement
becomes effective.&nbsp;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>

<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2020, 2019 and 2018, we had 746, 1,212
and 1,305 temporary employees in Spain, 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 23, 2021, 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;width:100%;">
 <tr style="height:4.0pt;">
  <td valign=bottom width=42% 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 width=15% 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 width=15% 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 width=12% 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 width=16% 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 width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Carlos Torres Vila</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">859,051</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">859,051</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.013</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Onur Gen&#231; *</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">516,651</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">516,651</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.008</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Jos&#233; Miguel Andr&#233;s Torrecillas</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">10,828</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">10,828</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.000</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Jaime Caruana Lacorte</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">35,000</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">10,000</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">45,000</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.001</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ra&#250;l Galamba de Oliveira</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">20,000</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">20,000</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.000</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Bel&#233;n Garijo L&#243;pez</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Sunir Kumar Kapoor *</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">10,000</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">10,000</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.000</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Lourdes M&#225;iz Carro</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Jos&#233; Maldonado Ramos</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">38,761</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">38,761</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.001</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ana Peralta Moreno</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Juan Pi Llorens</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ana Revenga Shanklin*</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">10,000</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">10,000</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.000</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Susana Rodr&#237;guez Vidarte</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">26,980</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">26,980</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.000</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Carlos Salazar Lomel&#237;n</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">260,929</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">260,929</font></font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0,004</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=42% 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 width=15% 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 width=15% 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 width=12% 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 width=16% 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 width=42% 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 width=15% 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;">1,788,200</font></b></font></p>
  </td>
 <td valign=top width=15% 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;">10,000</font></b></font></p>
  </td>
 <td valign=top width=12% 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;">1,798,200</font></b></font></p>
  </td>
 <td valign=top width=16% 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;">0.027</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;">&nbsp;</font></font></p>

<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;, Sunir Kumar Kapoor and Ana Revenga Shanklin owned
31,326, 10,000 and 10,000 shares in the form of ADSs, respectively</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA has not granted
options on its shares to any members of its administrative, supervisory or
management bodies.</font></font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font 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: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 23, 2021 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;width:100%;">
 <tr style="height:4.0pt;">
  <td valign=bottom width=34% 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 width=19% 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 width=20% 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 width=12% 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 width=15% 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 width=34% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Domingo Armengol Calvo</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">144,906</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">144,906</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.002</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Mar&#237;a Jes&#250;s Arribas de Paz</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">105,079</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">105,079</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.002</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pello Belausteguigoitia Mateache</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">98,933</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">98,933</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.002</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Carlos Casas Moreno</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">52,695</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">52,695</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.001</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Victoria del Castillo Marchese</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">30,572</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">30,572</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.000</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Jos&#233; Luis Elechiguerra Joven</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">53,379</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">53,379</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.001</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ana Fern&#225;ndez Manrique</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">95,651</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">105,031</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">200,682</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.003</font></font></p>
  </td>
 </tr>
<tr style="height:15.3pt;">
  <td valign=top width=34% style="height:15.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mar&#237;a Luisa G&#243;mez Bravo</font></font></p>
  </td>
 <td valign=top width=19% style="height:15.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">190,547</font></font></p>
  </td>
 <td valign=top width=20% style="height:15.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:15.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">190,547</font></font></p>
  </td>
 <td valign=top width=15% style="height:15.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.003</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Joaqu&#237;n Gortari D&#237;ez</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">79,816</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">79,816</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.001</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% style="background:white;height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ricardo Mart&#237;n Manj&#243;n</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">17,370</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">8,026</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">25,396</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.000</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Eduardo Osuna Osuna</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">62,185</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">62,185</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.001</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">David Puente Vicente</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">144,637</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">144,637</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.002</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Jaime S&#225;enz de Tejada Pulido</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">481,146</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">211</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">481,357</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.007</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Jorge S&#225;enz-Azc&#250;naga Carranza</font></font></p>
  </td>
 <td valign=top width=19% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">144,241</font></font></p>
  </td>
 <td valign=top width=20% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top width=12% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">144,241</font></font></p>
  </td>
 <td valign=top width=15% style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.002</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top width=34% 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 width=19% 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;">294,757</font></font></p>
  </td>
 <td valign=top width=20% 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;">21,274</font></font></p>
  </td>
 <td valign=top width=12% 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;">316,031</font></font></p>
  </td>
 <td valign=top width=15% 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;">0.005</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=34% 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 width=19% 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;">1,995,914</font></b></font></p>
  </td>
 <td valign=top width=20% 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;">134,542</font></b></font></p>
  </td>
 <td valign=top width=12% 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;">2,130,456</font></b></font></p>
  </td>
 <td valign=top width=15% 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;text-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 23,
2021 a total of 19,258 employees (excluding the members of the Senior
Management and executive directors) owned 69,274,166 shares, which represented
1.04% of our capital stock.</font></font></p>

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

<h1 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" 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-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On May 8,
2020, Norges Bank reported that it had voting power over 3.366% of BBVA&#8217;s
common stock, of which 3.235% were voting rights attributed to shares, and 0.131%
voting rights through financial instruments.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On January 28, 2021,
Blackrock, Inc. reported to the SEC that it beneficially owned 5.8% of BBVA&#8217;s
common stock.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On February 8, 2021,
GQG Partners LLC </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">reported that it directly had voting
power over 3.090% of BBVA&#8217;s common stock (all voting rights were attributed to
shares).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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 23, 2021, 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 23, 2021, there were 870,540 registered holders of BBVA&#8217;s shares, with
an aggregate of 6,667,886,580 shares, of which 729 shareholders with registered
addresses in the United States held a total of 1,703,004,805 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>


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

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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, 2020,
2019 and 2018, 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;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 sets
forth the gross amount of interim, final and total cash dividends and
distributions paid or expected to be paid by BBVA on its shares for the years
2016 to 2020. 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: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;">2016</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;">&#8364; 0.080</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;">$ 0.084</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;">&#8364; 0.080</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;">$ 0.084</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;">(*)</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;">&#8364; 0.160</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;">$ 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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; 0.090</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;">$ 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">$ 0.185</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;">&#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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">$ 0.293</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;">2018</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;">&#8364; 0.100</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;">$ 0.115</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; 0.160</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;">$ 0.183</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;">&#8364; 0.260</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;">$ 0.298</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;">2019</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;">&#8364; 0.100</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;">$ 0.112</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="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:9.0pt;">&#8364; 0.160</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:9.0pt;">$ 0.180</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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:9.0pt;">&#8364; 0.260</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:9.0pt;">$ 0.292</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;">2020</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=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="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:9.0pt;">&#8364; 0.059</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:9.0pt;">$ 0.072</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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:9.0pt;">&#8364; 0.059</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:9.0pt;">$ 0.072</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; In execution of the 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-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;">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. Under such policy, remuneration is expected to be composed, for
each financial year, of an interim dividend and a final dividend, subject to
any applicable restrictions and authorizations. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with
recommendation ECB/2020/19 issued by the ECB on March 27, 2020 on dividend
distributions during the COVID-19 pandemic, the Board of Directors of BBVA
resolved to modify for the financial year corresponding to 2020 the dividend
policy of the Group, announced on February 1, 2017, determining as new policy
for 2020 not to pay any dividend amount corresponding to 2020 until the
uncertainties caused by COVID-19 disappear and, in any case, never before the
end of such fiscal year. On July 27, 2020, the ECB prolonged this
recommendation until January 1, 2021 by adopting recommendation ECB/2020/35.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;On December 15, 2020
the ECB issued recommendation ECB/2020/62, repealing recommendation ECB/2020/35
and recommending that significant credit institutions exercise extreme prudence
when deciding on or paying out dividends or performing share buy-backs aimed at
remunerating shareholders. Recommendation ECB/2020/62 circumscribes prudent
distributions to results of 2019 and 2020 but excludes</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;">distributions
regarding 2021 until September 30, 2021, when the ECB will reevaluate the
economic situation. BBVA intends to reinstate its dividend policy of the Group
announced on February 1, 2017 once the recommendation ECB/2020/62 is repealed
and there are no additional restrictions or limitations.</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%;">202</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-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;">On January 29,
2021, it was announced that a cash distribution in the amount of &#8364;0.059 gross
per share, as shareholder remuneration in relation to the Group&#8217;s result for
the 2020 financial year, was expected to be submitted to the relevant governing
bodies of BBVA for their consideration.</font></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;">&#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></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;">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. In particular, 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 &#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;Capital Requirements&#8221; and
&#8220;Item 5. Operating and Financial Review and Prospects&#8212;Liquidity and Capital
Resources&#8212;Capital</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;">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>

<p 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, 2020, BBVA had
approximately &#8364;13.1 billion of reserves in excess of applicable capital and
reserve requirements (based on a 12.75% 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. 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 &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 3. Key
Information&#8212;Risk Factors&#8212;Regulatory, Tax and Reporting Risks&#8212;Legal Risks&#8212;The Group
is party to a number of legal and regulatory actions and proceedings</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;, &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item
3. Key Information&#8212;Risk Factors&#8212;Legal Risks&#8212;The Spanish judicial authorities
are carrying out a criminal investigation relating to possible bribery,
revelation of secrets and corruption by the Bank</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; and &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 3. Key
Information&#8212;Risk Factors&#8212;Regulatory, Tax and Reporting Risk&#8212;Compliance Risks&#8212;
The Group is exposed to compliance risks</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-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;">&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%;">203</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_209"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 traded on the stock markets of
Madrid, Barcelona, Bilbao and Valencia through the Sistema de Interconexi&#243;n
Burs&#225;til Espa&#241;ol (Mercado Continuo), as well as on the London and Mexico stock
markets. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA</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
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. For
information on BBVA</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 shares and ADSs, s</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ee Note 26 to our Consolidated Financial Statements and &#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;&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;">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;">From January&nbsp;1, 2020 through
December&nbsp;31, 2020 the percentage of outstanding shares held by BBVA and its
affiliates ranged between 0.008% and 0.464%, calculated on a daily basis. As of
January 29, 2021, the percentage of outstanding shares held by BBVA and its
affiliates was 0.242%.</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 2020, 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.<a name="page_244_bclEnd"></a></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;">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, November 2019 and April and June
2020 with respect to the minimum variation of share prices, the incorporation
of rules on retail liquidity providers, measures to prevent auto-execution of
transactions, and Direct Market Access respectively. 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>


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 <p align=center style="border:none;margin:0cm;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%;">204</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;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>

<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: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=#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: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=#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: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=#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: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=#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;line-height:115%;">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>


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 <p align=center style="border:none;margin:0cm;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%;">205</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_211"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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>

<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 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.<a name="page_246"></a><a name="page_246_bclEnd"></a></font></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;">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;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 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: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=#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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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;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>

<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;line-height:115%;">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: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 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: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 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: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 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: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 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: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 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: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 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: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 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: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 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_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>


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


</DIV>
<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">The Regulation of
the European Parliament and of the Council on short selling and certain aspects
of credit default swaps (EU) No 236/2012 (Regulation) has been in force since
March 25, 2012 and became directly effective in EU countries from November 1,
2012. This Regulation introduced a pan-European regulatory framework for
dealing with short selling and requires persons to disclose short positions in
relation to shares of EU listed companies and EU sovereign debt. For significant
net short positions in shares of EU listed companies, these regulations create
a two-tier reporting model: (i) when a net short position reaches 0.20% of an
issuer&#8217;s share capital (and at every 0.1% thereafter), such position must be
privately reported to the relevant regulator; and (ii) when such position
reaches 0.50% (and at every 0.1% thereafter) of an issuer&#8217;s share capital,
apart from being disclosed to the regulators, such position must be publicly
reported to the market.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">In response to COVID-19, on March 16, 2020 ESMA
lowered the aforementioned threshold from 0.2% to 0.1%, requiring net short
position holders to report positions of 0.1% and above. This measure was
renewed on September 18, 2020 and on December 17, 2020 until March 19, 2021. Additionally,
in line with other European supervisors, on March 16, 2020, the CNMV banned net
short positions in shares admitted to trading to Spanish trading venues for
which the CNMV is the competent authority as well as to all related instruments
relevant for the calculation of the net short position. The CNMV ban became
ineffective on May 18, 2020.</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 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;line-height:115%;">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;">The
Financial Transaction Tax (FTT) was enacted by means of Law 5/2020, of October
15, 2020. The Spanish FTT is 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.
Accordingly, any purchaser of BBVA&#8217;s shares not falling under an exemption will
be subject to the Spanish FTT.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font 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;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;line-height:115%;">Reporting
Requirements</font></b></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal
Decree 1362/2007, as amended, requires that any person or entity which acquires
or transfers shares and as a consequence the number of voting rights held
exceeds, reaches or is below the thresholds of 3%, 5%, 10%, 15%, 20%, 25%, 30%,
35%, 40%, 45%, 50%, 60%, 70%, 75%, 80% and 90% of the capital stock of a
company listed on a Spanish Stock Exchange must, within four stock exchange
business days after that acquisition or transfer, report it to such company,
and to the CNMV. This duty to report the holding of a significant stake is
applicable not only to the acquisitions and transfers in the terms described
above, but also to those cases in which in the absence of an acquisition or
transfer of shares, the ratio of an individual&#8217;s voting rights exceeds, reaches
or is below the thresholds that trigger the duty to report, as a consequence of
an alteration in the total number of voting rights of an issuer.</font></font></p>

<p style="border:none;margin: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, 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_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 was 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: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 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 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: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 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 were 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: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 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 were 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;">Banks are required to
inform the Bank of Spain 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: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;">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 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: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;">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: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 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%;">210</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:9.35pt;"><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: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;">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:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The 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: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;">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
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: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;">Holders of non-voting
shares, if issued, 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. 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: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;">Certain Provisions Regarding Shareholders Rights</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of the date of the
filing of this Annual Report, our capital is comprised of one class of ordinary
shares, all of which have the same rights.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:9.35pt;"><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. In addition, BBVA must
take into account any applicable capital adequacy requirements and any
recommendations on payment of dividends, and any other required authorization
or restriction that may be applicable. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4. Information on the
Company&#8212;Business Overview&#8212;Supervision and Regulation&#8212;Dividends</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; and </font><i><font 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</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;. 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: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;">Each voting share will
confer the right to one vote on the holder present or represented at the
general shareholders&#8217; meeting. However, unpaid shares with respect to which a
shareholder is in default of the resolutions of the Board of Directors relating
to their payment will not be entitled to vote. Our Bylaws contain no provisions
regarding cumulative voting.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Bylaws do not
contain any provisions relating to sinking funds or potential liability of
shareholders to further capital calls by us.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:9.35pt;"><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 align=center style="border:none;margin:0cm;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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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_217"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;">Shareholders&#8217;
Meetings</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The annual general
shareholders&#8217; meeting has its own set of regulations on issues such as how it
operates and what rights shareholders enjoy regarding general meetings. These
establish the possibility of voting or delegating votes over remote communication
media.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-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 may be annual or extraordinary. The 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 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 general shareholders&#8217; meetings.</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 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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our general
shareholders&#8217; meeting Regulations establish that annual and extraordinary
general shareholders&#8217; meetings must be called within the notice period required
by law. This will be done by means of an announcement published by the Board of
Directors or its proxy in the Official Gazette of the Companies Registry (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BORME</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
or one of the most widely disseminated daily newspapers in Spain, as well as
being disseminated on the CNMV (the Spanish Securities Market Commission)
website and the Company website, except when legal provisions establish other
media for disseminating the notice.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Company&#8217;s 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 meeting
is scheduled and that they keep at least that same number of shares until the
meeting is held. Holders of fewer shares may group together until they make up
at least that number, appointing a representative.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-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 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 general shareholders&#8217;
meeting at second summons. In either case, resolutions will be agreed by the
majority of the votes. However, a general shareholders&#8217; meeting will only be
validly held with the presence of 50% of our voting capital at first summons or
of 25% of the voting capital at second summons, in the case of resolutions
concerning the following matters:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></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;">debt issuances;</font></font></p>

<p style="border:none;margin:0cm;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;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></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;">share capital increases or decreases;</font></font></p>

<p style="border:none;margin:0cm;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;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></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 exclusion or limitation of the pre-emptive subscription rights over
new shares;</font></font></p>

<p style="border:none;margin:0cm;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;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></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;">transformation, merger of BBVA or spin-off and global assignment of
assets and liabilities;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></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 off-shoring of domicile, and</font></font></p>

<p style="border:none;margin:0cm;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;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></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;">any other amendment to the Bylaws.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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 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
general shareholders&#8217; meeting. If the voting capital present or represented at
the meeting at second summons is less than 50% (but over 25%), then resolutions
may only be adopted by two-thirds of the shares present or represented.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:9.35pt;"><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 general
shareholders&#8217; meeting at first summons, or 60% of that capital at second
summons.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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:9.35pt;"><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 align=center style="border:none;margin:0cm;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%;">212</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_218"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;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:.0001pt;margin-top:9.0pt;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;">Exchange controls and foreign
investments are regulated under Law 19/2003, of July 4 (&#8220;Law 19/2003&#8221;), as
amended pursuant to Royal Decree-Law 8/2020, of March 17, Royal Decree-Law
11/2020, of March 31 and Royal Decree-Law 34/2020, of November 17. Foreign
investments are generally liberalized unless they fall within the scope of
article 7 bis of Law 19/2003, enacted in March 2020, Sole Transitional
Provision of Royal Decree-Law 34/2020, of November 17, or&#8212;only with respect to
investments in the defense sector&#8212;article 11 of Royal Decree 664/1999, of April
23.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;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;">Article 7 bis of Law 19/2003
establishes a screening mechanism for certain investments made by non-EU and
non-EFTA residents (&#8220;foreign investors&#8221;), based on public order, public health
and public security reasons (the &#8220;Screening Mechanism&#8221;). The Screening
Mechanism aligns part of the Spanish foreign investment legal framework with
Regulation (EU) 2019/452 of March 19, 2019 establishing a framework for the
screening of foreign direct investments into the European Union. Certain provisions
of Regulation (EU) 2019/452&#8212;such as the list of sectors affecting public order
and public security or the definition of state-owned enterprises and other
similar investors&#8212;are mirrored in the regulations establishing the Screening
Mechanism. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;page-break-after:avoid;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In
addition, and according to Sole Transitional Provision of Royal Decree-Law
34/2020, of November 17, effective November 19, 2020 and until June 30, 2021,
the following persons will also be deemed to be foreign investors, provided
they invest in listed companies or the investment value exceeds 500 million
euros&#8212;for investments in private &#8211; non listed &#8211; companies:</font></font></p>

<ul type=disc style="margin-bottom:0cm;margin-top:0cm;">
 <li style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EU and EFTA residents in countries other
     than Spain, and</font></font></li>
 <li style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish residents beneficially owned by EU
     or EFTA residents in countries other than Spain, that is, those in which a
     EU or EFTA resident other than in Spain ultimately owns or controls more
     than 25% of the share capital or voting rights of, or otherwise exercises
     control over, the Spanish resident.</font></font></li>
</ul>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Foreign direct investments
(&quot;FDI&quot;) are:</font></font></p>

<ul type=disc style="margin-bottom:0cm;margin-top:0cm;">
 <li style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">investments that result in a foreign
     investor reaching a stake of at least 10% of the share capital of a
     Spanish company; and</font></font></li>
 <li style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">any corporate transaction, business action
     or legal transaction which enables effective participation in the
     management or control of a Spanish company.</font></font></li>
</ul>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-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 all foreign direct
investments are subject to the Screening Mechanism. Investors are subject to
the Screening Mechanism only if they qualify as FDI and the investment is made
in one of the critical sectors mentioned in article 7 bis of Law 19/2003, is
made pursuant to what is foreseen in Sole Transitional Provision of Royal
Decree-Law 34/2020, of November 17, or&#8212;only where the investor is a Non-UE or
non-EFTA investor&#8212;by investors that meet certain subjective criteria regardless
of the business of the target.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;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;">Foreign
direct investments by the following &#8220;foreign investors&#8221; are also subject to the
Screening Mechanism, regardless of the business of the target: </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:35.7pt;margin-right:0cm;margin-top:9.0pt;text-align:justify;text-indent:-17.85pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investors directly or
indirectly controlled by the government, including state bodies or armed
forces, of a non EU/EFTA country. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:35.7pt;margin-right:0cm;margin-top:9.0pt;text-align:justify;text-indent:-17.85pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investors that have already
made an investment affecting national security, public order or public health
in another EU Member State, including an investment in any of the
above-mentioned sectors. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:35.7pt;margin-right:0cm;margin-top:9.0pt;text-align:justify;text-indent:-17.85pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investors subject to ongoing
judicial or administrative proceedings for engaging in illegal or criminal
activities. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;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;">Foreign
direct investments by the following non-EU and non-EFTA investors are also
subject to the Screening Mechanism, regardless of the business of the target:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:35.7pt;margin-right:0cm;margin-top:9.0pt;text-align:justify;text-indent:-17.85pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investors directly or
indirectly controlled by a non-EU and non-EFTA government, including state
bodies, armed forces or sovereign wealth funds; the possibility of exercising
decisive influence as a result of an agreement or through the ownership of
shares or interests in another person (directly or indirectly) is deemed to
constitute &#8220;control&#8221; for these purposes. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:35.7pt;margin-right:0cm;margin-top:9.0pt;text-align:justify;text-indent:-17.85pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investors that have already
made an investment affecting national security, public order or public health
in another EU Member State, including an investment in any of the
above-mentioned sectors.</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%;">213</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:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:9.0pt;text-align:justify;text-indent:-17.85pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If there is a serious risk
that the investor engages in illegal or criminal activities affecting national
security, public order or public health in Spain.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Foreign direct
investments described above shall be subject to prior administrative
authorization granted by the relevant Spanish Authority, in accordance with the
administrative conditions established</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</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;"><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;">Sale of BBVA USA to The PNC Financial Services
Group</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 15, 2020,
Banco Bilbao Vizcaya Argentaria, S.A. (&#8220;BBVA&#8221;) entered into a Stock Purchase
Agreement (the &#8220;Stock Purchase Agreement&#8221;) with The PNC Financial Services
Group, Inc. (&#8220;PNC&#8221;). Upon the terms and subject to the conditions set forth in
the Stock Purchase Agreement, PNC will purchase from BBVA 100% of the issued
and outstanding shares of BBVA USA Bancshares, Inc. (the &#8220;Stock Purchase&#8221;), a
financial holding company (&#8220;BBVA USA Holdco&#8221;) conducting its business
operations primarily through its U.S. banking subsidiary, BBVA USA, an
Alabama-chartered bank (&#8220;BBVA USA Bank&#8221;), for $11.6 billion in cash on hand in
a fixed price structure, subject to certain adjustments related to transaction
expenses and tax matters. PNC is not acquiring BBVA Securities, Inc. (</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PNC will acquire BBVA Securities, Inc.&#8217;s retail
brokerage business, but not the entity)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, Propel Venture Partners Fund I, L.P. and BBVA Processing
Services, Inc. (the &#8220;Carve-Out Transactions&#8221;). In addition, BBVA will continue
to develop the wholesale business that it currently carries out through its
branch in New York.</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 completion of the
Stock Purchase is subject to certain conditions, including, among others, the
absence of any injunction or other legal prohibition on the completion of the
Stock Purchase, the receipt of required governmental approvals and/or the
expiration of certain waiting periods, the accuracy of the representations and
warranties of the other party (generally subject to a material adverse effect
standard), material compliance by the other party with its obligations under
the Stock Purchase Agreement, and the completion of the Carve-Out Transactions
prior to closing.</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 Stock
Purchase Agreement, BBVA has agreed to take or refrain from taking certain
actions, including, among others, (i) to cause BBVA USA Holdco and its
subsidiaries, including BBVA USA Bank, to operate in the ordinary course of
business consistent with past practice and not to enter into certain types of
transactions between the execution of the Stock Purchase Agreement and the
closing of the Stock Purchase and (ii) subject to certain exceptions, not to
(a) engage in a retail banking business in the U.S. for two years following the
closing of the Stock Purchase, or (b) solicit or hire any employees of BBVA USA
Holdco or its subsidiaries, including BBVA USA Bank, for one year following the
closing of the Stock Purchase.</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 Stock
Purchase Agreement, PNC has agreed to take or refrain from taking certain
actions, including, among others, (i) to use reasonable best efforts to obtain
any necessary regulatory consents and (ii) subject to certain exceptions
contained in the Stock Purchase Agreement, not to solicit or hire any BBVA
employees retained by BBVA for one year following the closing of the Stock
Purchase.</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 Stock Purchase
Agreement contains customary representations and warranties of BBVA and PNC.
The Stock Purchase Agreement also contains certain indemnification obligations
of each party with respect to breaches of representations, warranties and
covenants and certain other specified matters.</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 Stock Purchase
Agreement contains certain termination rights for PNC and BBVA, as the case may
be, applicable upon, among other events, (i) the Stock Purchase having not been
completed on or prior to November 15, 2021 (subject to extension in certain
circumstance), or (ii) a breach by the other party that is not or cannot be
cured within 45 days&#8217; notice of such breach or is not capable of being cured by
November 15, 2021, which breach would result in the failure of the conditions
to the terminating party&#8217;s obligations to complete the transactions
contemplated by the Stock Purchase Agreement.</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%;">214</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_220"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The foregoing description of the Stock Purchase and the
Stock Purchase Agreement does not purport to be complete and is qualified in
its entirety by reference to the Stock Purchase Agreement, which is filed as
Exhibit 2.1 hereto, and is incorporated into this report by reference. The
Stock Purchase Agreement and the above description of the Stock Purchase
Agreement have been included to provide investors and security holders with
information regarding the terms of the Stock Purchase Agreement. It is not
intended to provide any other factual information about PNC, BBVA or their
respective subsidiaries and affiliates. The Stock Purchase Agreement contains
representations and warranties of each of PNC, on the one hand, and BBVA, on
the other hand, made solely for the benefit of the other. The assertions
embodied in those representations and warranties are qualified by information
in confidential disclosure schedules that the parties have exchanged in
connection with signing the Stock Purchase Agreement. The disclosure schedules
contain information that modifies, qualifies and creates exceptions to the
representations and warranties set forth in the Stock Purchase Agreement. In
addition, such representations and warranties may apply standards of
materiality in a way that is different from what may be viewed as material by
security holders of, or other investors in, PNC or BBVA. Moreover, the
representations and warranties in the Stock Purchase Agreement were used for
the purpose of allocating risk between PNC, on the one hand, and BBVA, on the
other hand, and not necessarily for establishing matters as fact, and
information concerning the subject matter of the representations, warranties
and covenants may change after the date of the Stock Purchase Agreement, which
subsequent information may or may not be fully reflected in the parties&#8217; public
disclosures. Security holders and investors are not third-party beneficiaries
under the Stock Purchase Agreement. Accordingly, you should read the
representations and warranties in the Stock Purchase Agreement not in isolation
but only in conjunction with the other information about PNC and BBVA, or any
of their respective subsidiaries or affiliates.</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;"><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:17.85pt;"><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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pursuant Royal Decree
664/1999, of April 23, on the Applicable rules to Foreign Investments, foreign
investors may freely invest in shares of Spanish companies except in the case
they fall within the scope of article 7 bis of Law 19/2003, enacted in March
2020, Sole Transitional Provision of Royal Decree-Law 34/2020, of November 17,
or&#8212;only with respect to investments in the defense sector&#8212;article 11 of Royal
Decree 664/1999, of April 23. For information on certain additional regulation
applicable to foreign direct investments, see &#8220;Item 10. Additional
Information&#8212;B. Memorandum and Articles of Association&#8212;Restrictions on Foreign
Investments&#8221;. Likewise, Royal Decree 664/1999, of April 23, 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:17.85pt;"><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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For information on
certain additional regulation applicable to foreign direct investments, see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item
10. Additional Information&#173;&#8212;Memorandum and Articles of Association&#8212;Restrictions
on Foreign Investments</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;">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:17.85pt;"><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 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:17.85pt;"><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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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 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:17.85pt;"><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:0cm;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;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></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 acquired shares will have no voting rights;</font></font></p>

<p style="border:none;margin:0cm;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;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></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;">if considered appropriate, the target bank may be taken over or its directors
replaced; and</font></font></p>

<p style="border:none;margin:0cm;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;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></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 sanctions established in Title IV of Law 10/2014.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-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
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-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;">Tender Offers</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 Spanish legal
regime concerning takeover bids, which reflects the related EU regulation
(mainly Directive 2004/25/EC), is set forth in Royal Decree 4/2015, of October
23, approving the restated text of the Securities Market Act, 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>


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 <p align=center style="border:none;margin:0cm;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%;">216</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_222"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Holders of ADSs or ordinary shares should consult their tax
advisors, particularly as to the applicability of any tax treaty. The
statements regarding Spanish tax laws set out below are based on
interpretations of those laws in force as of the date of this Annual Report.
Such statements also assume that each obligation in the Deposit Agreement and
any related agreement will be performed in full accordance with the terms of
those agreements.</font></font></p>

<p style="border:none;margin-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. However, in the case of cash distribution of share
premium no withholding tax would be applicable.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-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, in cash dividends distributions,
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;">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 (including
the satisfaction of a minimum holding period and certain other requirements),
dividends paid to certain non-corporate U.S. Holders of ADSs will be taxable as
&#8220;qualified dividend income&#8221; and therefore will be taxable at favorable rates
applicable to long-term capital gains. U.S. Holders should consult their own
tax advisors to determine the availability of these favorable rates in their
particular circumstances.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The amount of
dividend income will equal the U.S. dollar value of the euro received,
calculated by reference to the exchange rate in effect on the date of receipt
(which, for U.S. Holders of ADSs, will be the date such distribution is
received by the depositary), whether or not the depositary or U.S. Holder in
fact converts any euro received into U.S. dollars at that time. If the dividend
is converted into U.S. dollars on the date of receipt, a U.S. Holder should not
be required to recognize foreign currency gain or loss in respect of the
dividend income. A U.S. Holder may have foreign currency gain or loss if the
dividend is converted into U.S. dollars after the date of receipt.</font></font></p>


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 <p align=center style="border:none;margin:0cm;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%;">219</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_225"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-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, 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 Spanish domestic law or the Treaty. Spanish taxes withheld in
excess of the rate applicable under Spanish domestic law or 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 2020 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>

<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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="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;">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: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;">&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;">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 7.3 and 7.4 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 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;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: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%;">
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   <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;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 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, 2020, the Depositary
reimbursed us $502,122 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 2020.</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=84% style="padding:0cm 2.9pt 0cm 2.9pt;">
   <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 1.0pt 31.0pt;">
   <p style="border:none;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" 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, 2020</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;">307,610</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;">4,833</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;">40,590</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;">149,089</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 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;">-</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%;">222</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_228"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<div align=center></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, 2020, 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 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 (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>

<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>


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 <p align=center style="border:none;margin:0cm;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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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_229"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-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 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, 2020, 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, 2020.</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, 2020 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 align=center style="border:none;margin:0cm;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%;">224</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_230"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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:6.0pt;margin-left:0cm;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: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 31, 2020, based on criteria established in Internal Control &#8211;
Integrated Framework (2013) issued by the Committee of Sponsoring Organizations
of the Treadway Commission. In our opinion, the Company maintained, in all
material respects, effective internal control over financial reporting as of
December 31, 2020, based on criteria established in Internal Control &#8211;
Integrated Framework (2013) issued by the Committee of Sponsoring Organizations
of the Treadway Commission.&#160; </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: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;">We also have audited, in accordance with the standards of the
Public Company Accounting Oversight Board (United States) (PCAOB), the
consolidated balance sheets of the Company as of December 31, 2020, 2019 and
2018, 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-4 through F-182 (collectively, the consolidated
financial statements), and our report dated February 26, 2021 expressed an
unqualified opinion on those consolidated financial statements.</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:14.2pt;"><font face="Times New Roman,serif" style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">Basis for Opinion </font></i></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent: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;">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-US 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-US 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:6.0pt;margin-left:0cm;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: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:6.0pt;margin-left:0cm;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;"><i><font face="Times New Roman,serif" lang=EN-US 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:6.0pt;margin-left:0cm;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: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) pertain to the maintenance of records that, in reasonable detail, accurately
and fairly reflect the transactions and dispositions of the assets of the
company; (2) provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures of
the company are being made only in accordance with authorizations of management
and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use, or disposition
of the company&#8217;s assets that could have a material effect on the financial
statements.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;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: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-bottom:6.0pt;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=EN-US style="font-size:10.0pt;line-height:12.0pt;">/s/ 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:.0001pt;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 26, 2021</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-GB style="font-size:10.0pt;line-height:12.0pt;">&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%;">225</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: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. Jaime F&#233;lix Caruana Lacorte, current Chairman of the Audit Committee,
and the Audit Committee members Mr. Jos&#233; Miguel Andr&#233;s Torrecillas, 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. Jaime F&#233;lix
Caruana Lacorte, Mr. Jos&#233; Miguel Andr&#233;s Torrecillas, 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>

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

<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;">2020</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>
 </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;">28.1</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;">28.7</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;">1.2</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;">1.3</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=bottom width=70% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin: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;">0.1</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;">29.4</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;">30.0</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>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><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>


</DIV>
<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 2020. 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 windowtext 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;">2020</font></b></font></p>
  </td>
 <td rowspan=3 width=14% style="border:none;border-bottom:solid windowtext 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 windowtext 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 windowtext 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 windowtext 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="border:none;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;</font></font></p>
  </td>
 <td nowrap width=14% style="background:white;border:none;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,427,533
  </font></font></p>
  </td>
 <td nowrap width=21% style="background:white;border:none;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">4.78</font></font></p>
  </td>
 <td nowrap width=24% style="border:none;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 width=25% style="border:none;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;
  </font></font></p>
  </td>
 <td nowrap width=14% style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">33,414,182
  </font></font></p>
  </td>
 <td nowrap 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;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">4.89</font></font></p>
  </td>
 <td nowrap 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 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:24.1pt;">
  <td width=13% style="height:24.1pt;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</font></font></p>
  </td>
 <td nowrap width=14% style="background:white;height:24.1pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">33,312,325
  </font></font></p>
  </td>
 <td nowrap width=21% style="background:white;height:24.1pt;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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">3.24</font></font></p>
  </td>
 <td nowrap width=24% style="height:24.1pt;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 width=25% style="height:24.1pt;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:24.1pt;">&nbsp;</td>
 </tr>
<tr style="height:24.1pt;">
  <td width=13% style="height:24.1pt;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;</font></font></p>
  </td>
 <td nowrap width=14% style="background:white;height:24.1pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">14,362,659
  </font></font></p>
  </td>
 <td nowrap width=21% style="background:white;height:24.1pt;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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2.80</font></font></p>
  </td>
 <td nowrap width=24% style="height:24.1pt;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 width=25% style="height:24.1pt;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:24.1pt;">&nbsp;</td>
 </tr>
<tr style="height:24.1pt;">
  <td width=13% style="height:24.1pt;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</font></font></p>
  </td>
 <td nowrap width=14% style="background:white;height:24.1pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">14,946,334
  </font></font></p>
  </td>
 <td nowrap width=21% style="background:white;height:24.1pt;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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2.81</font></font></p>
  </td>
 <td nowrap width=24% style="height:24.1pt;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 width=25% style="height:24.1pt;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:24.1pt;">&nbsp;</td>
 </tr>
<tr style="height:24.1pt;">
  <td width=13% style="height:24.1pt;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;</font></font></p>
  </td>
 <td nowrap width=14% style="background:white;height:24.1pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">25,555,734
  </font></font></p>
  </td>
 <td nowrap width=21% style="background:white;height:24.1pt;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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">3.17</font></font></p>
  </td>
 <td nowrap width=24% style="height:24.1pt;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 width=25% style="height:24.1pt;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:24.1pt;">&nbsp;</td>
 </tr>
<tr style="height:24.1pt;">
  <td width=13% style="height:24.1pt;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</font></font></p>
  </td>
 <td nowrap width=14% style="background:white;height:24.1pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">20,880,943
  </font></font></p>
  </td>
 <td nowrap width=21% style="background:white;height:24.1pt;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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">3.09</font></font></p>
  </td>
 <td nowrap width=24% style="height:24.1pt;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 width=25% style="height:24.1pt;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:24.1pt;">&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;
  </font></font></p>
  </td>
 <td nowrap width=14% style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,243,174
  </font></font></p>
  </td>
 <td nowrap 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;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2.54</font></font></p>
  </td>
 <td nowrap 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 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</font></font></p>
  </td>
 <td nowrap width=14% style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">25,515,697
  </font></font></p>
  </td>
 <td nowrap 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;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2.40</font></font></p>
  </td>
 <td nowrap 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 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</font></font></p>
  </td>
 <td nowrap width=14% style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">8,226,400
  </font></font></p>
  </td>
 <td nowrap 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;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2.38</font></font></p>
  </td>
 <td nowrap 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 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;</font></font></p>
  </td>
 <td nowrap width=14% style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">15,932,539
  </font></font></p>
  </td>
 <td nowrap 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;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">3.31</font></font></p>
  </td>
 <td nowrap 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 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 </font></font></p>
  </td>
 <td nowrap width=14% style="background:white;border:none;border-bottom:solid windowtext 1.0pt;height:24.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">17,874,367
  </font></font></p>
  </td>
 <td nowrap 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;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">4.68</font></font></p>
  </td>
 <td nowrap 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 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 width=14% style="background:white;border:none;border-bottom:double windowtext 2pt;height:13.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">234,691,887 </font></b></font></p>
  </td>
 <td 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-US style="font-size:10.0pt;">3.44</font></b></font></p>
  </td>
 <td nowrap 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 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: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;">During 2020, we sold a total of 232,956,244
shares for an average price of &#8364;3.56 per share.</font></font></p>

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

<h1 style="border:none;margin-bottom: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-align:justify;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:11.9pt;"><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>


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 <p align=center style="border:none;margin:0cm;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">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align: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 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;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;">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:11.9pt;"><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:11.9pt;"><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 ten 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:11.9pt;"><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 chair 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;page-break-after:avoid;text-align:justify;text-indent:11.9pt;"><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:11.9pt;"><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 2020
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;page-break-after:avoid;text-align:justify;text-indent:11.9pt;"><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:11.9pt;"><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>

<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>

<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-242.</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>
<DIV bclFooter>

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

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_236"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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=18% 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=82% 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=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 colspan=2 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=20% 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=80% 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>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=20% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=center style="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=80% 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=20% 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=80% 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="d20f2020exhibits21.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>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=20% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=center style="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=80% 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=20% 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=80% 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/842180/000119312521043182/d194668d6k.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=20% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=center style="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=80% style="padding:0cm 0cm 0cm 0cm;">
  <p align=center style="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=20% 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=80% 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_423"><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=20% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=center style="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=80% style="padding:0cm 0cm 0cm 0cm;">
  <p align=center style="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=20% 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%;">10.1</font></font></p>
  </td>
 <td valign=top width=80% 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="d20f2020exhibits101.htm"><u><font color=blue face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:150%;">Share Purchase
  Agreement between Banco Bilbao Vizcaya Argentaria, S.A. and The PNC Financial
  Services Group of November 15, 2020</font></u></a></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=20% 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=80% 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=20% 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=80% 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="d20f2020exhibits121.htm"><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=20% 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=80% 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=20% 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=80% 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="d20f2020exhibits122.htm"><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=20% 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=80% 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=20% 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=80% 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="d20f2020exhibits123.htm"><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=20% 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=80% 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=20% 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=80% 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="d20f2020exhibits131.htm"><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=20% 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=80% 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=20% 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=80% 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="d20f2020exhibits151.htm"><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=20% 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=80% 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=20% 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=80% 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 16, 2021 (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;">0001193125-21-043182</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=18% style="border:none;">&nbsp;</td>
 <td width=2% style="border:none;">&nbsp;</td>
 <td width=80% style="border:none;">&nbsp;</td>
 </tr>
</table>


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


</DIV>
<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">SIGNATURES</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pursuant to the requirements of Section&nbsp;12
of the Securities Exchange Act of 1934, the Registrant certifies that it meets
all of the requirements for filing on Form 20-F and had duly caused this Annual
Report to be signed on its behalf by the undersigned, thereto duly authorized. </font></font></p>

<div align=right>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:4.0pt;">
  <td width=21% style="height:4.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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 26, 2021</font></font></p>



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



<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><a name="_Toc298431712"></a><a name="_Toc299029448"></a><a name="_Toc299031530"></a><a name="_Toc299032869"></a><a name="_Toc331260310"></a><a name="_Toc347755848"></a><a name="_Toc376949938"></a></p>
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<p 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%;"></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 2020, 2019 and 2018</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

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


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 <p style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face=Arial,sans-serif lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">&nbsp;</font></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_239"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="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_244"><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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">F-4</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_247"><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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">F-7</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=87% style="height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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_249"><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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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_252"><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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">F-12</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_253"><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-13</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_284"><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-44</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_286"><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-46</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_337"><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-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;">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_348"><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-108</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_349"><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-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;">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_350"><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-110</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_350"><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-110</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_351"><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-111</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_354"><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-114</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_356"><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-116</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_358"><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-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;">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_360"><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-120</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_363"><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-123</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_366"><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-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;">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_370"><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-130</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_370"><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 and liabilities included in 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-130</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_375"><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-135</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_381"><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-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;">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_382"><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-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;">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_385"><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-145</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_393"><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-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;">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_394"><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-154</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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_394"><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-154</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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_396"><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-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;">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_397"><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-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;">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_398"><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-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;">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_399"><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-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;">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_403"><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-163</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_403"><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-163</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_403"><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-163</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_404"><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-164</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_404"><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-164</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_405"><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-165</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_405"><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-165</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_405"><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-165</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_406"><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-166</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_407"><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-167</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_407"><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-167</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_408"><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-168</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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_410"><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-170</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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_410"><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-170</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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_411"><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-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;">
  <p style="border:none;margin: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_411"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment of 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-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;">
  <p style="border:none;margin: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_411"><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-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;">
  <p style="border:none;margin: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_412"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Gains (losses) 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-172</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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_412"><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-172</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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_413"><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-173</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_414"><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-174</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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_416"><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-176</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_422"><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-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;">
  <p style="border:none;margin: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_422"><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-182</font></font></p>
  </td>
 </tr>
</table></div>



</div><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_240"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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_424"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">APPENDIX I Additional information on subsidiaries and
  structured entities composing the BBVA Group as of December 31, 2020</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-184</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_432"><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 as of December 31, 2020</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-192</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_433"><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 2020</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-193</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_436"><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, 2020</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-196</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">&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_437"><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 in 2020.
  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-197</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_438"><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, 2020, 2019 and 2018</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">F-198</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">&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_442"><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, 2020, 2019 and 2018</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">F-202</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_444"><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-204</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_462"><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-222</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-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: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-GB style="font-size:8.5pt;line-height:12.0pt;">To the Shareholders and Board of
Directors<br>
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:8.5pt;line-height:12.0pt;">Opinion on the </font></i></font><font style="border:none;"><i><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;line-height:12.0pt;">Consolidated</font></i></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;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:8.5pt;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;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;line-height:12.0pt;">We have audited the accompanying consolidated balance sheets of
Banco Bilbao Vizcaya Argentaria, S.A. and&nbsp;subsidiaries (the Company) as of
December&nbsp;31, 2020, 2019 and 2018, 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-4 through
F-182 (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, 2020, 2019 and
2018, 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;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;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,
2020, based on criteria established in </font><i><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;line-height:12.0pt;">Internal Control &#8211; Integrated
Framework (2013)</font></i><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;line-height:12.0pt;"> issued by the Committee of Sponsoring Organizations of the
Treadway Commission, and our report dated February 26, 2021 expressed</font><i><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;line-height:12.0pt;"> </font></i><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;line-height:12.0pt;">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:8.5pt;line-height:12.0pt;">Sale of BBVA USA Bancshares, Inc.</font></i></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-GB style="font-size:8.5pt;line-height:12.0pt;">As discussed in Notes 3 and 21 to the consolidated financial
statements, during 2020 the Company reached an agreement to sell its USA
subsidiary, BBVA USA Bancshares, Inc., as well as other companies in the United
States with activities related to this banking business. As a result, the
assets and liabilities of the companies included in the sale agreement have
been classified under the headings </font><i><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;line-height:12.0pt;">Non-current assets and disposal groups
classified as held for sale </font></i><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;line-height:12.0pt;">and&nbsp;</font><i><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;line-height:12.0pt;"> Liabilities included in disposal groups
classified as held for sale</font></i><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;line-height:12.0pt;"> in the consolidated balance sheet as of
December 31, 2020, and the results of these companies have been classified
under the heading </font><i><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;line-height:12.0pt;">Profit (loss) after tax from discontinued operations</font></i><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;line-height:12.0pt;">
in the consolidated statements of income for each of the years ended December
31, 2020, 2019 and 2018.</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:8.5pt;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;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;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;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.5pt;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>

<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:8.5pt;line-height:12.0pt;">Critical
Audit Matters</font></i></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-GB style="font-size:8.5pt;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:0cm;page-break-after:avoid;"><font style="border:none;"><i><font face=Arial,sans-serif lang=EN style="font-size:8.5pt;line-height:12.0pt;">Expected credit losses related to
loans and advances </font></i></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 style="font-size:8.5pt;line-height:12.0pt;">As discussed in Note 7 to the consolidated financial statements,
the Company&#8217;s provision for expected credit losses (ECL) related to loans and
advances was &#8364;12,105 million as of December 31, 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=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-1</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:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:8.5pt;line-height:12.0pt;">We identified the assessment of the
ECL related to loans and advances as a critical audit matter because it
involved subjective and complex auditor judgment as well as specialized skills
and knowledge due to significant measurement uncertainty. In addition, the
COVID-19 pandemic has negatively affected the economy and business activities
in the countries where the Company operates, which has significantly impacted
the Company&#180;s future forecasts and further increased measurement uncertainty
associated with the significant assumptions used to estimate the ECL as of
December 31, 2020. </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 style="font-size:8.5pt;line-height:12.0pt;">Specifically, our assessment encompassed an evaluation of the
Company&#180;s overall methodology for estimating ECL related to loans and advances,
inclusive of the methodologies and significant assumptions used to estimate the
probability of default (PD), exposure at default (EAD) and loss given default
(LGD), as well as certain future macroeconomic variables such as GDP, and the
need for and measurement of qualitative adjustments to the collective ECL
including those used to account for the impacts of COVID-19. Our assessment
also included an evaluation of the significant assumptions used to estimate the
ECL for certain individually evaluated loans, including the terminal value,
cost of capital, and collateral values, if applicable. Our assessment also
included an evaluation of the mathematical accuracy of the ECL calculations. In
addition, auditor judgment was required to evaluate the sufficiency of audit
evidence obtained.</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 style="font-size:8.5pt;line-height:12.0pt;">The following are the primary procedures we performed to address
the critical audit matter. We evaluated the design and tested the operating
effectiveness of certain internal controls related to the critical audit
matter. This included controls related to the Company&#8217;s measurement of the ECL
estimate, including controls related to (i) development and approval of the
overall ECL methodology, (ii) validation of the PD, EAD, and LGD models, including
the determination of the methodologies and assumptions used, (iii)
determination of certain future macroeconomic variables such as GDP, (iv)
determination of the need for and measurement of qualitative adjustments to the
collective ECL, and (v) calculation of the ECL estimates.&#160; This also included
controls related to the significant assumptions used to estimate the ECL for
individually evaluated loans, including the terminal value, cost of capital,
and collateral values, if applicable.</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 style="font-size:8.5pt;line-height:12.0pt;">We involved credit risk professionals with specialized skills and
knowledge who assisted in (i) evaluating the Company&#8217;s ECL methodology for
compliance with International Financial Reporting Standards as issued by the
International Accounting Standards Board, (ii) assessing whether certain models
used in calculating the PD, EAD, and LGD are suitable for their intended use by
inspecting model documentation, assessing the conceptual soundness and ongoing
performance, and assessing the methodologies used and certain assumptions,
(iii) evaluating certain future macroeconomic variables such as GDP by
comparing the Company&#180;s forecasts against published external sources, and (iv)
assessing the need for and measurement of qualitative adjustments to the ECL,
including those used to account for the impacts of COVID-19, and (v) assessing
the mathematical accuracy of the ECL calculation for a sample of loans.</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 style="font-size:8.5pt;line-height:12.0pt;">We involved credit risk and valuation professionals with
specialized skills and knowledge who assisted in testing the significant assumptions
used to estimate the ECL for a sample of individually evaluated loans,
including the terminal value, cost of capital and collateral values, if
applicable.</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 style="font-size:8.5pt;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&#180;s
ECL. </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;"><i><font face=Arial,sans-serif lang=EN style="font-size:8.5pt;line-height:12.0pt;">Measurement of fair value of
certain difficult-to-value financial instruments</font></i></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 style="font-size:8.5pt;line-height:12.0pt;">As discussed in Note 8 to the consolidated financial statements,
the Company has recorded &#8364;186,004 million of financial assets measured at fair
value (of which &#8364;84,143 million were classified as Level 2 and &#8364;3,445 million
were classified as Level 3) and &#8364;98,856 million of financial liabilities
measured at fair value (of which &#8364;68,853 million were classified as Level 2 and
&#8364;2,363 million were classified as Level 3) as of December 31, 2020
(collectively, difficult-to-value financial instruments).&#160; </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 style="font-size:8.5pt;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. Subjective auditor judgment was also
required to evaluate the models&#8217; significant inputs and/or assumptions which
were not directly observable in financial markets, such as certain interest
rates, recovery rates, issuer credit risk, correlations and volatility inputs.</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 style="font-size:8.5pt;line-height:12.0pt;">The following are the primary procedures we performed to address
the critical audit matter. We evaluated the design and tested the operating
effectiveness of certain internal controls related to the critical audit
matter. This included controls related to the Company&#8217;s process to measure fair
value of certain difficult-to-value financial instruments, including controls
over (i) the development and approval and/or reassessment of the Company&#180;s
valuation models and methodologies and (ii) the appropriateness, relevance and
reliability of the significant inputs and/or assumptions used to estimate fair
values for certain difficult-to-value financial instruments.</font></font></p>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-2</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;">&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_243"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 style="font-size:8.5pt;font-style:normal;line-height:12.0pt;">In addition, we involved valuation professionals with
specialized skills and knowledge who assisted in (i) assessing the compliance
of certain valuation models and methodologies with International Financial
Reporting Standards as issued by the International Accounting Standards Board,
(ii) testing the Company&#8217;s process to develop the fair value of certain
difficult-to-value financial instruments, including evaluating whether the
inputs and/or assumptions are appropriate, relevant and reliable, and/or (iii)
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;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.5pt;line-height:12.0pt;">/s/ 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:8.5pt;line-height:12.0pt;">We have served as the Company&#8217;s auditor
since 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;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.5pt;line-height:12.0pt;">Madrid, Spain<br>
February 26, 2021</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font style="border:none;display:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.5pt;line-height:12.0pt;">&nbsp;</font></font></p>


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<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="d20f2020x243x0.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, 2020, 2019 and 2018</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:8.25pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;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 style="font-size:5.5pt;">ASSETS (Millions of
  Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=54% 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=red face=Arial,sans-serif style="border:none;"><b><font color=red face=Arial,sans-serif style="font-size:5.5pt;">&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:5.5pt;">Notes</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:5.5pt;">2020</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=#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:16.5pt;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:5.5pt;">2018 </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;">65,520</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;">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>
 </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;">108,257</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;">101,735</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;">89,103</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 style="font-size:5.5pt;">Derivatives</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 style="font-size:5.5pt;">&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;">40,183</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:5.5pt;">32,232</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;">29,523</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;">Equity instruments</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:5.5pt;">&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;">11,458</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">Debt securities</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:5.5pt;">&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;">23,970</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">Loans and
  advances to central banks</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:5.5pt;">&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;">53</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">535</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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;">Loans and
  advances to credit institutions</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:5.5pt;">&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;">20,499</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">Loans and
  advances to customers</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:5.5pt;">&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;">12,095</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">5,198</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;">5,557</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>
 </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 style="font-size:5.5pt;">Equity instruments</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 style="font-size:5.5pt;">&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;">4,133</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;">4,327</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;">3,095</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;">Debt securities</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:5.5pt;">&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;">356</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">Loans and
  advances to customers</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:5.5pt;">&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;">709</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">1,117</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;">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>
 </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 style="font-size:5.5pt;">Debt securities</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 style="font-size:5.5pt;">&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;">1,117</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;">1,214</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;">1,313</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;">69,440</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;">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>
 </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 style="font-size:5.5pt;">Equity instruments</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 style="font-size:5.5pt;">&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;">1,100</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;">2,420</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;">2,595</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;">Debt securities</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:5.5pt;">&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;">68,308</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">Loans and
  advances to credit institutions</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:5.5pt;">&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;">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:5.5pt;">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:5.5pt;">33</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;">367,668</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;">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>
 </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 style="font-size:5.5pt;">Debt securities</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 style="font-size:5.5pt;">&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;">35,737</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;">38,877</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;">32,530</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;">Loans and
  advances to central banks</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:5.5pt;">&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;">6,209</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">Loans and
  advances to credit institutions</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:5.5pt;">&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;">14,575</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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=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: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:5.5pt;">&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;">311,147</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;">382,360</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;">374,027</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;">DERIVATIVES - HEDGE
  ACCOUNTING</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;">15</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;">1,991</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;">1,729</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;">2,892</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;">51</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;">28</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;">(21)</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;">1,437</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;">1,488</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>
 </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 style="font-size:5.5pt;">Joint ventures</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 style="font-size:5.5pt;">&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;">149</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;">154</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;">173</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=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: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:5.5pt;">&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;">1,288</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;">1,334</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;">1,405</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;">306</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;">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>
 </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;">TANGIBLE 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;">17</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;">7,823</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;">10,068</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;">7,229</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 style="font-size:5.5pt;">Properties, plant and
  equipment</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 style="font-size:5.5pt;">&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;">7,601</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;">9,816</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;">7,066</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 style="font-size:5.5pt;">For own use</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:5.5pt;">&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;">7,311</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">Other assets
  leased out under an operating lease</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:5.5pt;">&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;">290</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">Investment properties</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:5.5pt;">&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;">222</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">INTANGIBLE 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;">18</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;">2,345</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;">6,966</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;">8,314</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 style="font-size:5.5pt;">Goodwill</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 style="font-size:5.5pt;">&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;">910</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;">4,955</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;">6,180</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;">Other 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">&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;">1,435</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">16,526</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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>
 </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 style="font-size:5.5pt;">Current tax assets</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 style="font-size:5.5pt;">&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;">1,199</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;">1,765</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;">2,784</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;">Deferred tax 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">&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;">15,327</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">2,513</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;">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>
 </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;">Insurance
  contracts linked to pensions</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:5.5pt;">&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;">-</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;">-</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;">-</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;">Inventories</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:5.5pt;">&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;">572</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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=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: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:5.5pt;">&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;">1,941</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;">3,220</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;">4,837</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;">85,987</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;">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>
 </tr>
<tr style="height:8.25pt;">
  <td 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 ASSETS</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=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;">3, 6</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;">736,176</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;">697,737</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;">675,675</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>


<DIV bclFooter>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_245"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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="d20f2020x244x0.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, 2020, 2019 and 2018</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;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=44% 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:5.5pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=14% 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;">2020</font></b></font></p>
  </td>
 <td width=14% 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=14% 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>
 </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=#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=14% 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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">86,488</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">88,680</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">79,761</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">41,680</font></font></p>
  </td>
 <td nowrap width=14% 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;">34,066</font></font></p>
  </td>
 <td nowrap width=14% 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;">30,801</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">12,312</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">6,277</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">16,558</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">9,660</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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=14% 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=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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=14% 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:16.5pt;">
  <td width=44% 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=14% 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=14% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">10,050</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">10,010</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">6,993</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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=14% 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=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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=14% 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=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">902</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">4,531</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">4,617</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% style="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=14% 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:5.5pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% 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=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=14% 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=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=14% 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=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=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=#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=14% 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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">490,606</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">45,177</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">27,629</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">342,661</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">61,780</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">13,358</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% style="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=14% 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:5.5pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:5.5pt;">16,488</font></i></font></p>
  </td>
 <td nowrap width=14% 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=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=14% 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=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>
 </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=#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=14% 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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2,318</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:16.5pt;">
  <td width=44% 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=14% 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=14% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">-</font></b></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=#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=14% 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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">9,951</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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=#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=14% 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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">6,141</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">4,272</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">49</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">612</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">728</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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 provisions</font></font></p>
  </td>
 <td nowrap width=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">479</font></font></p>
  </td>
 <td nowrap width=14% 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;">457</font></font></p>
  </td>
 <td nowrap width=14% 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;">601</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=#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=14% 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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2,355</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">545</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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>
 </tr>
<tr style="height:9.95pt;">
  <td width=44% 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;">Deferred tax
  liabilities</font></font></p>
  </td>
 <td nowrap width=14% 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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">1,809</font></font></p>
  </td>
 <td nowrap width=14% 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;">1,928</font></font></p>
  </td>
 <td nowrap width=14% 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;">2,046</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=#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=14% 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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2,802</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:16.5pt;">
  <td width=44% 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=14% 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 nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">75,446</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1,554</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=44% 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=14% 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;"><font color=white face=Arial,sans-serif style="font-size:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">686,156</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">642,812</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">622,801</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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<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="d20f2020x245x0.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, 2020, 2019 and 2018</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:8.25pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;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:6.0pt;">LIABILITIES
  AND EQUITY (Continued) (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=40% 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:6.0pt;">&nbsp;</font></b></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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2020</font></b></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 align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=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=#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: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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">SHAREHOLDERS&#8217; FUNDS</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;"><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">58,904</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">58,950</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">57,333</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Capital</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:6.0pt;">26</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">3,267</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">3,267</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">3,267</font></b></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;">Paid up capital</font></font></p>
  </td>
 <td nowrap 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3,267</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3,267</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3,267</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;">Unpaid capital
  which has been called up</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Share premium</font></b></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=#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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">23,992</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">23,992</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">23,992</font></b></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=#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 issued other than capital</font></b></font></p>
  </td>
 <td nowrap 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=#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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=40% 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 style="font-size:6.0pt;">Other equity</font></b></font></p>
  </td>
 <td nowrap 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=#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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Retained earnings</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">28</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">30,508</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">29,388</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">26,063</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Revaluation
  reserves</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">28</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=40% 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 style="font-size:6.0pt;">Other reserves</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">28</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(164)</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(119)</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:16.5pt;">
  <td width=40% 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:6.0pt;">Reserves or
  accumulated losses of investments in joint ventures and associates</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% 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;">(164)</font></font></p>
  </td>
 <td nowrap width=15% 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;">(119)</font></font></p>
  </td>
 <td nowrap width=15% 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>
 </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;">Other</font></font></p>
  </td>
 <td nowrap 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Less: treasury
  shares</font></b></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=#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 nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(46)</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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)</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(296)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Profit or
  loss attributable to owners of the parent</font></b></font></p>
  </td>
 <td nowrap 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=#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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">1,305</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">3,512</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">5,400</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Less: interim
  dividends</font></b></font></p>
  </td>
 <td nowrap 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=#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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(1,109)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">ACCUMULATED
  OTHER COMPREHENSIVE INCOME (LOSS)</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:6.0pt;">30</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(14,356)</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(10,226)</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(10,223)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Items that
  will not be reclassified to profit or loss</font></b></font></p>
  </td>
 <td nowrap width=15% 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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(2,815)</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(1,875)</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(1,284)</font></b></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;">Actuarial gains
  (losses) on defined benefit pension plans</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(1,474)</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(1,498)</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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: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;">Non-current
  assets and disposal groups classified as held for sale</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=40% 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;">&#160;Share of other
  recognized income and expense of investments joint ventures and associates</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% 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=15% 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=15% 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=40% 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;">Fair value
  changes of equity instruments measured at fair value through other
  comprehensive income</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% 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;">(1,256)</font></font></p>
  </td>
 <td nowrap width=15% 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;">(404)</font></font></p>
  </td>
 <td nowrap width=15% 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;">(155)</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=40% 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;">Hedge
  ineffectiveness of fair value hedges for equity instruments measured at fair
  value through other comprehensive income</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% 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=15% 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=15% 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=40% 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:6.0pt;">Fair value
  changes of equity instruments measured at fair value through other
  comprehensive income (hedged item)</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% 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=15% 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=15% 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=40% 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:6.0pt;">Fair value
  changes of equity instruments measured at fair value through other
  comprehensive income (hedging instrument)</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% 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=15% 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=15% 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=40% 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;">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=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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% 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)</font></font></p>
  </td>
 <td nowrap width=15% 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>
 <td nowrap width=15% 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;">116</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Items that
  may be reclassified to profit or loss</font></b></font></p>
  </td>
 <td nowrap 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=#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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(11,541)</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(8,351)</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(8,939)</font></b></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;">Hedge of net
  investments in foreign operations (effective portion)</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(896)</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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 currency
  translation </font></font></p>
  </td>
 <td nowrap 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(14,185)</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(9,147)</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(9,630)</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;">Hedging derivatives.
  Cash flow hedges (effective portion)</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:16.5pt;">
  <td width=40% 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;">Fair value
  changes of debt instruments measured at fair value through other
  comprehensive income</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% 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;">2,069</font></font></p>
  </td>
 <td nowrap width=15% 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;">1,760</font></font></p>
  </td>
 <td nowrap width=15% 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;">943</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;">Hedging
  instruments (non-designated items)</font></font></p>
  </td>
 <td nowrap 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=#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 nowrap width=15% style="height:8.25pt;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:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;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:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;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: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 lang=EN-US style="font-size:6.0pt;">Non-current
  assets and disposal groups classified as held for sale</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">644</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=40% 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;">Share of other
  recognized income and expense of investments in joint ventures and associates</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% 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=15% 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=15% 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>
 </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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">MINORITY
  INTERESTS (NON-CONTROLLING INTERESTS)</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:6.0pt;">31</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">5,471</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">6,201</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">5,764</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 lang=EN-US style="font-size:6.0pt;">Accumulated
  other comprehensive income (loss)</font></font></p>
  </td>
 <td nowrap width=15% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(6,949)</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(5,572)</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(5,290)</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;">Other items</font></font></p>
  </td>
 <td nowrap 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">12,421</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11,773</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11,053</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=40% style="background:#5AC4C4;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 EQUITY</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">50,020</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">54,925</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">52,874</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=40% style="background:#5AC4C4;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:6.0pt;">TOTAL EQUITY
  AND TOTAL LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">736,176</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">697,737</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">675,675</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% style="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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% 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=#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=15% 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=#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=15% 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=#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=40% style="background:#E9E9E9;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:6.0pt;">MEMORANDUM
  ITEM (OFF-BALANCE SHEET EXPOSURES) (Millions of Euros)</font></font></p>
  </td>
 <td width=15% style="background:#E9E9E9;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="background:#E9E9E9;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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="background:#E9E9E9;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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="background:#E9E9E9;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:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=40% 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:6.0pt;">&nbsp;</font></b></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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2020</font></b></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 align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=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=#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: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;">Loan commitments
  given</font></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=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=15% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">132,584</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">130,923</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">118,959</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;">Financial guarantees
  given</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:6.0pt;">33</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">10,665</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">10,984</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">16,454</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;">Other commitments
  given</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:6.0pt;">33</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">36,190</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">39,209</font></font></p>
  </td>
 <td nowrap width=15% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">35,098</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-6</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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</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">
<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="d20f2020x246x0.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, 2020, 2019 and 2018</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:9.0pt;">
  <td colspan=5 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">CONSOLIDATED
  INCOME STATEMENTS (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=52% 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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=12% 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:7.0pt;">2020</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=12% 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:7.0pt;">2018 (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td 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;">Interest and other
  income</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">37.1</font></b></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:7.0pt;">22,389</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:7.0pt;">27,762</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:7.0pt;">26,954</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:7.0pt;">Interest expense</font></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:7.0pt;">37.2</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:7.0pt;">(7,797)</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:7.0pt;">(11,972)</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:7.0pt;">(11,669)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">NET INTEREST INCOME</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:7.0pt;">&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:7.0pt;">14,592</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:7.0pt;">15,789</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:7.0pt;">15,285</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td 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;">Dividend income </font></font></p>
  </td>
 <td nowrap 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=#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=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:7.0pt;">137</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:7.0pt;">153</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:7.0pt;">145</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:7.0pt;">Share of profit
  or loss of entities accounted for using the equity method </font></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:7.0pt;">39</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:7.0pt;">(39)</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:7.0pt;">(42)</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:7.0pt;">(7)</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:7.0pt;">Fee and commission
  income </font></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:7.0pt;">40</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:7.0pt;">5,980</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:7.0pt;">6,786</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:7.0pt;">6,462</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:7.0pt;">Fee and commission
  expense</font></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:7.0pt;">40</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:7.0pt;">(1,857)</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:7.0pt;">(2,284)</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:7.0pt;">(2,059)</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">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:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">41</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">139</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">186</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">191</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:7.0pt;">Gains (losses)
  on financial assets and liabilities held for trading, net</font></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:7.0pt;">41</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:7.0pt;">777</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:7.0pt;">419</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:7.0pt;">640</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">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:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">41</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">208</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">143</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">96</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">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:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">41</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 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=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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(98)</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">139</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:7.0pt;">Gains (losses)
  from hedge accounting, net </font></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:7.0pt;">41</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:7.0pt;">7</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:7.0pt;">55</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:7.0pt;">69</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:7.0pt;">Exchange differences,
  net</font></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:7.0pt;">41</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:7.0pt;">359</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:7.0pt;">581</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:7.0pt;">13</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:7.0pt;">Other operating
  income </font></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:7.0pt;">42</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:7.0pt;">492</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:7.0pt;">639</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:7.0pt;">929</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:7.0pt;">Other operating
  expense</font></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:7.0pt;">42</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:7.0pt;">(1,662)</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:7.0pt;">(1,943)</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:7.0pt;">(2,021)</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:7.0pt;">Income from
  insurance and reinsurance contracts</font></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:7.0pt;">43</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:7.0pt;">2,497</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:7.0pt;">2,890</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:7.0pt;">2,949</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:7.0pt;">Expense from
  insurance and reinsurance contracts</font></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:7.0pt;">43</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:7.0pt;">(1,520)</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:7.0pt;">(1,751)</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:7.0pt;">(1,894)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">GROSS INCOME</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:7.0pt;">&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:7.0pt;">20,166</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:7.0pt;">21,522</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:7.0pt;">20,936</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td 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;">Administration costs</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=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:7.0pt;">(7,799)</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:7.0pt;">(8,769)</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:7.0pt;">(9,020)</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:7.0pt;">&#160;&#160; Personnel expense</font></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:7.0pt;">44.1</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:7.0pt;">(4,695)</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:7.0pt;">(5,351)</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:7.0pt;">(5,205)</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:7.0pt;">&#160;&#160; Other
  administrative expense</font></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:7.0pt;">44.2</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:7.0pt;">(3,105)</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:7.0pt;">(3,418)</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:7.0pt;">(3,816)</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:7.0pt;">Depreciation and
  amortization</font></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:7.0pt;">45</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:7.0pt;">(1,288)</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:7.0pt;">(1,386)</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:7.0pt;">(1,034)</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:7.0pt;">Provisions or
  reversal of provisions</font></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:7.0pt;">46</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:7.0pt;">(746)</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:7.0pt;">(614)</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:7.0pt;">(395)</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">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:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">47</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(5,179)</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(3,552)</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(3,681)</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:7.0pt;">&#160;&#160; Financial
  assets measured at amortized cost</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:7.0pt;">&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:7.0pt;">(5,160)</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:7.0pt;">(3,470)</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:7.0pt;">(3,680)</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:7.0pt;">&#160;&#160; 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=center style="border:none;margin:0cm;margin-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=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:7.0pt;">(19)</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:7.0pt;">(82)</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:7.0pt;">(1)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">NET OPERATING
  INCOME</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:7.0pt;">&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:7.0pt;">5,153</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:7.0pt;">7,202</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:7.0pt;">6,807</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">Impairment or
  reversal of impairment of investments in joint ventures and associates</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">48</font></b></font></p>
  </td>
 <td nowrap width=12% 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;">(190)</font></font></p>
  </td>
 <td nowrap width=12% 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;">(46)</font></font></p>
  </td>
 <td nowrap width=12% 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>
 </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:7.0pt;">Impairment or
  reversal of impairment on non-financial assets</font></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:7.0pt;">49</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:7.0pt;">(153)</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:7.0pt;">(128)</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:7.0pt;">(137)</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:7.0pt;">&#160;&#160; Tangible 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:7.0pt;">&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:7.0pt;">(125)</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:7.0pt;">(94)</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:7.0pt;">(4)</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:7.0pt;">&#160;&#160; Intangible 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:7.0pt;">&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:7.0pt;">(19)</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:7.0pt;">(12)</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:7.0pt;">(83)</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:7.0pt;">&#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:7.0pt;">&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:7.0pt;">(9)</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:7.0pt;">(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:7.0pt;">(50)</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:7.0pt;">Gains (losses)
  on derecognition of non-financial assets and subsidiaries, net</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:7.0pt;">&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:7.0pt;">(7)</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:7.0pt;">(5)</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:7.0pt;">80</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:7.0pt;">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:7.0pt;">&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:7.0pt;">-</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:7.0pt;">-</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:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">Gains (losses)
  from non-current assets and disposal groups classified as held for sale not
  qualifying as discontinued operations&#160; </font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">50</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">444</font></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 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=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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">815</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">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: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=12% 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;">5,248</font></b></font></p>
  </td>
 <td nowrap width=12% 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;">7,046</font></b></font></p>
  </td>
 <td nowrap width=12% 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;">7,565</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td 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;">Tax expense or
  income related to profit or loss from continuing operations</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">19</font></b></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:7.0pt;">(1,459)</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:7.0pt;">(1,943)</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:7.0pt;">(2,042)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">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: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:7.0pt;">&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:7.0pt;">3,789</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:7.0pt;">5,103</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:7.0pt;">5,523</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td 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;">Profit (loss)
  after tax from discontinued operations</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">21</font></b></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:7.0pt;">(1,729)</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:7.0pt;">(758)</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:7.0pt;">704</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=52% style="background:#5AC4C4;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;">PROFIT FOR THE YEAR</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2,060</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">4,345</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">6,227</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% style="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;">ATTRIBUTABLE
  TO MINORITY INTEREST (NON-CONTROLLING INTERESTS)</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">31</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">756</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">833</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">827</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=52% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">ATTRIBUTABLE TO
  OWNERS OF THE PARENT</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1,305</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">3,512</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">5,400</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom 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:6.0pt;">(*) Restated
  due to the sale of the stake in BBVA USA (see Notes 3 and 21).</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:7.0pt;">&nbsp;</font></b></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:7.0pt;">&nbsp;</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:7.0pt;">&nbsp;</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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td width=52% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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 style="font-size:7.0pt;">Notes</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2020</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=12% 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:7.0pt;">2018 (*)</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;">EARNINGS PER SHARE
  (Euros)</font></b></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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">5</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:7.0pt;">0.14</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:7.0pt;">0.47</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:7.0pt;">0.75</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td 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;">&#160;&#160; Basic
  earnings (losses) per share from continued operations</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=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:7.0pt;">0.40</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:7.0pt;">0.58</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:7.0pt;">0.64</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:7.0pt;">&#160;&#160; Diluted
  earnings (losses) per share from continued operations </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:7.0pt;">&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:7.0pt;">0.40</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:7.0pt;">0.58</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:7.0pt;">0.64</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:7.0pt;">&#160;&#160; Basic
  earnings (losses) per share from discontinued operations </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:7.0pt;">&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:7.0pt;">(0.26)</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:7.0pt;">(0.11)</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:7.0pt;">0.11</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:7.0pt;">&#160;&#160; Diluted
  earnings (losses) per share from discontinued operations</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:7.0pt;">&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:7.0pt;">(0.26)</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:7.0pt;">(0.11)</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:7.0pt;">0.11</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_FS_833719ab78b343049474e3b0e"></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%;">(*) Restated due to the sale of the stake in BBVA USA (see Notes 3
and 21).</font></font><a name="XBRL_FS_833719ab78b343049474e3b0e_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-7</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_248"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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="d20f2020x247x0.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, 2020,
2019 and 2018</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:11.25pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;height:11.25pt;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:8.0pt;">CONSOLIDATED
  STATEMENTS OF RECOGNIZED INCOME AND EXPENSE (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=58% 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=14% 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;">2020</font></b></font></p>
  </td>
 <td width=14% 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=14% 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>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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 lang=EN-US style="font-size:8.0pt;">PROFIT
  RECOGNIZED IN INCOME STATEMENT</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,060</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">4,345</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,227</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">OTHER RECOGNIZED
  INCOME (EXPENSE)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(5,375)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(286)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(2,605)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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 lang=EN-US style="font-size:8.0pt;">ITEMS NOT
  SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(822)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(584)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(141)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Actuarial gains
  (losses) from defined benefit pension plans</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:8.0pt;">(88)</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:8.0pt;">(364)</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:8.0pt;">(79)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Non-current
  assets and disposal groups held for sale</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;">17</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;">2</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>
 </tr>
<tr style="height:22.5pt;">
  <td width=58% 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;">Share of other
  recognized income and expense of entities accounted for using the equity
  method</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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=14% 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=58% 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;">Fair value
  changes of equity instruments measured at fair value through other
  comprehensive income, net</font></font></p>
  </td>
 <td nowrap width=14% 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;">(796)</font></font></p>
  </td>
 <td nowrap width=14% 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;">(229)</font></font></p>
  </td>
 <td nowrap width=14% 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;">(172)</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=58% 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;">Gains (losses)
  from hedge accounting of equity instruments at fair value through other
  comprehensive income, net</font></font></p>
  </td>
 <td nowrap width=14% 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;">-</font></font></p>
  </td>
 <td nowrap width=14% 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;">-</font></font></p>
  </td>
 <td nowrap width=14% 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=58% 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;">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=14% 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</font></font></p>
  </td>
 <td nowrap width=14% 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;">(133)</font></font></p>
  </td>
 <td nowrap width=14% 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;">166</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=58% 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;">Income tax
  related to items not subject to reclassification to income statement</font></font></p>
  </td>
 <td nowrap width=14% 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;">40</font></font></p>
  </td>
 <td nowrap width=14% 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;">140</font></font></p>
  </td>
 <td nowrap width=14% 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;">(56)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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 lang=EN-US style="font-size:8.0pt;">ITEMS SUBJECT
  TO RECLASSIFICATION TO INCOME STATEMENT</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(4,553)</font></b></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=#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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(2,464)</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=58% style="border:none;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;">Hedge of net
  investments in foreign operations (effective portion)</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">378</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">(687)</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">(244)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Valuation gains
  (losses) taken to equity</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;">378</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;">(687)</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;">(244)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Transferred to
  profit or loss</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=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=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>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Other
  reclassifications</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=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=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>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% style="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;">Foreign currency
  translation</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(4,873)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(104)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(2,186)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Translation
  gains (losses) taken to equity</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;">(4,873)</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;">(123)</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;">(2,191)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Transferred to
  profit or loss</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=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;">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;">5</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Other
  reclassifications</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=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;">18</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>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% style="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 lang=EN-US style="font-size:8.0pt;">Cash flow
  hedges (effective portion)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">230</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(203)</font></b></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=#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>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Valuation gains
  (losses) taken to equity</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;">230</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;">(193)</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;">(69)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Transferred to
  profit or loss</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=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;">(10)</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;">58</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Transferred to
  initial carrying amount of hedged items</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=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=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>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Other
  reclassifications</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=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=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>
 </tr>
<tr style="height:22.5pt;">
  <td width=58% style="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;">Debt
  securities at fair value through other comprehensive income</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">460</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,131</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(860)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Valuation gains
  (losses) taken to equity</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;">515</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;">1,280</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;">(725)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Transferred to
  profit or loss</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;">(54)</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;">(149)</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;">(135)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Other
  reclassifications</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=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=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>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% style="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 lang=EN-US style="font-size:8.0pt;">Non-current
  assets and disposal groups held for sale</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(492)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">461</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">581</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Valuation gains
  (losses) taken to equity</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;">(472)</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;">472</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;">561</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Transferred to
  profit or loss</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;">(20)</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=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;">20</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% 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;">Other
  reclassifications</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=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;">(11)</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>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% style="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 lang=EN-US style="font-size:8.0pt;">Entities
  accounted for using the equity method</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(13)</font></b></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=#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="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:22.5pt;">
  <td width=58% style="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;">Income tax
  relating to items subject to reclassification to income statements</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(243)</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(332)</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#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>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% style="background:#5AC4C4;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 RECOGNIZED
  INCOME/EXPENSE</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(3,315)</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">4,060</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,622</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=58% style="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;">Attributable
  to minority interest (non-controlling interests)</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(606)</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#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>
 <td nowrap width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(443)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=58% style="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 lang=EN-US style="font-size:8.0pt;">Attributable
  to the parent company</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(2,709)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">3,509</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">4,065</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_7541ce25092c4efb8314bf7af"></a><a name="XBRL_FS_e4787b4b203949f18fc0754c8"></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%;">(*) Restated
due to the sale of the stake in BBVA USA (see Notes 3 and 21).</font></font><a name="XBRL_FS_7541ce25092c4efb8314bf7af_bclEnd"></a><a name="XBRL_FS_e4787b4b203949f18fc0754c8_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>




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</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">
<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="d20f2020x248x0.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, 2020, 2019 and
2018</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:8.25pt;">
  <td colspan=15 nowrap width=100% style="background:#E9E9E9;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;">CONSOLIDATED
  STATEMENTS OF CHANGES IN EQUITY (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap valign=bottom width=21% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;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: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:6.95pt;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: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:6.95pt;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 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:6.95pt;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: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:5.5pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;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: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:6.95pt;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: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:6.95pt;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: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:6.95pt;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: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:6.95pt;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 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:6.95pt;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: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:6.95pt;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 lang=EN-US style="font-size:5.5pt;">Accumulated other comprehensive income (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:5.5pt;">&#160;&nbsp;</font></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(Note 30)</font></b></font></p>
  </td>
 <td colspan=2 width=10% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;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: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:6.95pt;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:5.5pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:57.75pt;">
  <td width=21% 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:5.5pt;">2020</font></b></font></p>
  </td>
 <td width=5% 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 lang=EN-US style="font-size:5.5pt;">Accumulated other comprehensive income (loss) (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: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: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="background:#5AC4C4;border:none;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
  January 1, 2020 (*)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
<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;">Effect of
  changes in accounting policies ( Note 1.3)</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;">2,985</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;">6</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;">(2,992)</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;">(2,045)</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;">2,045</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="background:#5AC4C4;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">29,388</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(119)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(10,226)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(5,572)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">11,773</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
<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=#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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1,305</font></b></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=#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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(4,013)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(1,362)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">756</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(3,315)</font></b></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=#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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1,120</font></b></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(116)</font></b></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=#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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(107)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(1,590)</font></b></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 common
  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 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;">(1,065)</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;">(124)</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;">(1,190)</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;">(807)</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;">(807)</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;">-</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;">823</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;">822</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 2.2.19)</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;">2,585</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;">(40)</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;">(3,512)</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;">1,084</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;">(116)</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;">(16)</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;">16</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 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;">Other increases
  or (-) decreases in 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;">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;">(399)</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;">-</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</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;">(394)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% style="background:#5AC4C4;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, 2020</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">42</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">30,508</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(164)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(46)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1,305</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(14,356)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(6,949)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">12,421</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">50,020</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_663d4c98a1bb44a3ab29a496e"></a><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;Balances
as of December 31, 2019 as originally reported in the consolidated Financial
Statements for the year 2019.</font></font><a name="XBRL_FS_663d4c98a1bb44a3ab29a496e_bclEnd"></a><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-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>

</DIV>
</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 6" src="d20f2020x249x0.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, 2020, 2019 and
2018</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:8.25pt;">
  <td colspan=15 nowrap width=100% style="background:#E9E9E9;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;">CONSOLIDATED
  STATEMENTS OF CHANGES IN EQUITY (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap valign=bottom width=20% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;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: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:6.95pt;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: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:6.95pt;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 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:6.95pt;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: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:5.5pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;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: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:6.95pt;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: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:6.95pt;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: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:6.95pt;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: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:6.95pt;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 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=6% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;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: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:6.95pt;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 lang=EN-US style="font-size:5.5pt;">Accumulated other comprehensive income (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:5.5pt;">&#160;&nbsp;</font></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(Note 30)</font></b></font></p>
  </td>
 <td colspan=2 width=10% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;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: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:6.95pt;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:5.5pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:57.75pt;">
  <td width=20% 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:5.5pt;">2019 (*)</font></b></font></p>
  </td>
 <td width=5% 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 lang=EN-US style="font-size:5.5pt;">Accumulated other comprehensive income (loss) (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: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: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=20% style="background:#5AC4C4;border:none;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
  January 1, 2019 (**)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">23,017</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(57)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">5,324</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(975)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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;">3,045</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;">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;">76</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;">(134)</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;">(3,007)</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;">(2,054)</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;">2,054</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=20% style="background:#5AC4C4;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">26,063</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(38)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(10,223)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(5,290)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">11,054</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=20% 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 style="font-size:5.5pt;">Total
  income/expense recognized</font></b></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(282)</font></b></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=#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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">4,060</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">3,326</font></b></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(82)</font></b></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(115)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(2,009)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">Issuances of common
  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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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;">(1,063)</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;">(1,084)</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;">(142)</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;">(2,289)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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;">(1,088)</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;">(1,088)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">13</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;">1,322</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;">1,335</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Transfers
  within total equity (see Note 2.2.19)</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;">4,364</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)</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;">(70)</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;">(5,400)</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;">1,109</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;">-</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=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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;">(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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Other increases
  or (-) decreases in 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;">11</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;">13</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;">(13)</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;">27</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;">38</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="background:#5AC4C4;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">29,388</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(119)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(10,226)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(5,572)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">11,773</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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_22ad782f5316410c9fb57f2a1"></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%;">(*) Restated due to the sale of the stake in BBVA USA (see Notes 3
and 21).</font></font><a name="XBRL_FS_22ad782f5316410c9fb57f2a1_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_32c44f51164e42beaad6b698c"></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%;">(**) Balances as of December 31, 2018 as originally reported in
the consolidated Financial Statements for the year 2018.</font></font><a name="XBRL_FS_32c44f51164e42beaad6b698c_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: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="d20f2020x250x0.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, 2020, 2019 and
2018</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:8.25pt;">
  <td colspan=15 nowrap width=100% style="background:#E9E9E9;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;">CONSOLIDATED
  STATEMENTS OF CHANGES IN EQUITY (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap valign=bottom width=19% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;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: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:6.95pt;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: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:6.95pt;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 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:6.95pt;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: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:5.5pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;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: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:6.95pt;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: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:6.95pt;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: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:6.95pt;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: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:6.95pt;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 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=6% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;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:5.5pt;">(-) Interim dividends (Note 4)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;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 lang=EN-US style="font-size:5.5pt;">Accumulated other comprehensive income (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:5.5pt;">&#160;&nbsp;</font></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(Note 30)</font></b></font></p>
  </td>
 <td colspan=2 width=10% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;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: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:6.95pt;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:5.5pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:57.75pt;">
  <td width=19% 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:5.5pt;">2018 (*)</font></b></font></p>
  </td>
 <td width=5% 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 lang=EN-US style="font-size:5.5pt;">Accumulated other comprehensive income (loss) (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: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: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=19% style="background:#5AC4C4;border:none;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
  January 1, 2018 (**)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">25,474</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(44)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">3,519</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(1,043)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(8,792)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(3,378)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">10,358</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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;">348</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;">30</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;">(5)</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;">(129)</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;">(1,192)</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;">(1,181)</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;">1,209</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;">(919)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="background:#5AC4C4;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">25,822</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(13)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(9,984)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(4,559)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">11,567</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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 nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(1,335)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(1,270)</font></b></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=#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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">3,622</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">240</font></b></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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)</font></b></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(1,341)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(3,152)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">Issuances of common
  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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">(996)</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;">(1,109)</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;">(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 nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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;">(1,684)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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;">1,460</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Transfers
  within total equity (see Note 2.2.19)</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;">1,278</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;">(23)</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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="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;">(19)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Other increases
  or (-) decreases in 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;">15</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;">(17)</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;">-</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;">(423)</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;">(426)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="background:#5AC4C4;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">26,063</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(38)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(10,223)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(5,290)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">11,054</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_FS_14f31a999b424b2daebadc381"></a><a name="XBRL_FS_3102f952b800482dbd8c82817"></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%;">(*) Restated
due to the sale of the stake in BBVA USA (see Notes 3 and 21).</font></font><a name="XBRL_FS_14f31a999b424b2daebadc381_bclEnd"></a><a name="XBRL_FS_3102f952b800482dbd8c82817_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;"><a name="XBRL_FS_d85904283bdf4be691054d0d2"></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;
Balances as of December 31, 2017 as originally reported in the consolidated
Financial Statements for the year 2017.</font></font><a name="XBRL_FS_d85904283bdf4be691054d0d2_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-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>

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</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-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="d20f2020x251x0.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, 2020, 2019 and 2018</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:8.25pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;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;">CONSOLIDATED
  FINANCIAL STATEMENTS OF CASH FLOWS (Millions of Euros)</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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-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:5.5pt;">&nbsp;</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=right style="border:none;margin:0cm;margin-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:5.5pt;">&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:5.5pt;">2020</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:5.5pt;">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:5.5pt;">2018</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;">A) CASH FLOWS
  FROM OPERATING ACTIVITIES (1 + 2 + 3 + 4 + 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 lang=EN-US style="font-size:5.5pt;">&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;">39,349</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;">(10,654)</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;">13,436</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=#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;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:5.5pt;">&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;">2,060</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;">4,345</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;">6,227</font></b></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=#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="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:5.5pt;">&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;">11,653</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;">9,582</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;">7,619</font></b></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;">Depreciation and
  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:5.5pt;">&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;">1,288</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;">1,386</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;">1,034</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 adjustments</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:5.5pt;">&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;">10,365</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;">8,196</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;">6,585</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=#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="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:5.5pt;">&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;">(57,484)</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;">(39,247)</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;">(7,762)</font></b></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 held for trading</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:5.5pt;">&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;">(10,465)</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;">(11,724)</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;">1,524</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:5.5pt;">&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;">(241)</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>
 </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:5.5pt;">&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;">97</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>
 </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 fair value through other comprehensive income</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:5.5pt;">&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;">(16,649)</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;">(3,755)</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;">(206)</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:5.5pt;">&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;">(30,212)</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;">(26,559)</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;">(7,880)</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 operating
  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:5.5pt;">&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;">(15)</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;">3,010</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;">(906)</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=#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="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:5.5pt;">&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;">85,074</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;">16,268</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;">10,141</font></b></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 held for trading</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:5.5pt;">&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;">361</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;">8,121</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;">(611)</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:5.5pt;">&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;">647</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>
 </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:5.5pt;">&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;">84,853</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>
 </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 operating
  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:5.5pt;">&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;">(787)</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;">(2,549)</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;">(1,067)</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:5.5pt;">&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;">(1,955)</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>
 </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 (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:5.5pt;">&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;">(37)</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>
 </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=#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;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:5.5pt;">&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;">(1,185)</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;">(1,494)</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;">(2,154)</font></b></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;">Tangible 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:5.5pt;">&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;">(632)</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;">(852)</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;">(943)</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:5.5pt;">&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;">(491)</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>
 </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:5.5pt;">&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;">(62)</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>
 </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:5.5pt;">&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;">(20)</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:5.5pt;">&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;">(489)</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
  settlements related to investing activities</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:5.5pt;">&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=#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="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:5.5pt;">&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;">1,148</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;">1,592</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;">9,670</font></b></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;">Tangible 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:5.5pt;">&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;">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;">128</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;">731</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:5.5pt;">&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 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:5.5pt;">&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;">307</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>
 </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:5.5pt;">&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;">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>
 </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:5.5pt;">&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;">283</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>
 </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:5.5pt;">&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;">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>
 </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 (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:5.5pt;">&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;">(2,069)</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>
 </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=#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;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:5.5pt;">&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;">(5,316)</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;">(7,418)</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;">(8,995)</font></b></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;">Dividends</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:5.5pt;">&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;">(1,065)</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;">(2,147)</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;">(2,107)</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:5.5pt;">&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;">(2,820)</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>
 </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:5.5pt;">&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:5.5pt;">&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;">(807)</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>
 </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 items
  relating to financing activities</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:5.5pt;">&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;">(624)</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;">(612)</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;">(377)</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=#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="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:5.5pt;">&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;">3,247</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;">4,716</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;">3,903</font></b></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:5.5pt;">&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;">2,425</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;">3,381</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;">2,451</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:5.5pt;">&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:5.5pt;">&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;">822</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>
 </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:5.5pt;">&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:5.5pt;">&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;">(4,658)</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;">(634)</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;">(344)</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:5.5pt;">&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;">32,585</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;">(13,892)</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;">15,516</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:5.5pt;">&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;">44,303</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;">58,196</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;">42,680</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 PERIOD (INCLUDING ENTITIES HELD FOR SALE IN
  THE UNITED STATES) (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:5.5pt;">&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;">76,888</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;">44,303</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;">58,196</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:5.5pt;">&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:5.5pt;">&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:5.5pt;">&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:5.5pt;">&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:5.5pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% style="background:#E9E9E9;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;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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="background:#E9E9E9;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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="background:#E9E9E9;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:5.5pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="background:#E9E9E9;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:5.5pt;">&nbsp;</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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-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:5.5pt;">&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:5.5pt;">Notes</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:5.5pt;">2020</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:5.5pt;">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:5.5pt;">2018</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;">Cash</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=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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">6,447</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;">7,060</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;">6,346</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;">Balance of cash
  equivalent in central banks</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=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;">53,079</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;">31,755</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;">43,880</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 financial
  assets</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=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;">5,994</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;">5,488</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;">7,970</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;">Less: Bank
  overdraft refundable on demand</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:5.5pt;">&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 width=52% style="background:#5AC4C4;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;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:5.5pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">65,520</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">44,303</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">58,196</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.95pt;">
  <td width=52% style="background:#5AC4C4;height:30.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">TOTAL CASH AND
  CASH EQUIVALENTS CLASSIFIED AS NON-CURRENT ASSETS AND DISPOSABLE GROUPS
  CLASSIFIED AS HELD FOR SALE IN THE UNITED STATES</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:30.95pt;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:5.5pt;">21</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:30.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.5pt;">11,368</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:30.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:30.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.5pt;">-</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:6.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top: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="border:none;margin-bottom:.0001pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-35.4pt;"><a name="_Toc376949865"></a><a name="_Toc376972273"></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-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">
<p style="border:none;margin-bottom:.0001pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-35.4pt;"><font face=Arial,sans-serif style="border:none;"><img border=0 height=35 id="Imagen 10" src="d20f2020x252x0.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;"><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></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_7ce945a6a29840d18af19f2fb"></a><a name="_Toc376949866"></a><a name="_Toc376972274"></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. Introduction,
basis for the presentation of the Consolidated Financial Statements, Internal
Control over Financial Reporting and 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;"><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. 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;, &#8220;BBVA&quot; or &#8220;BBVA, S.A.&#8221;)
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,
2020, the BBVA Group had 269 consolidated entities and 48 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, 2020
have been authorized for issue on February 26, 2021.</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="_Toc376949867"></a><a name="_Toc376972275"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.2. 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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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 (&#8220;EU-IFRS&#8221;)
applicable as of December 31, 2020, considering the Bank of Spain Circular
4/2017, and with any other legislation governing financial reporting which is
applicable and with the format and mark-up requirements established in the EU
Delegated Regulation 2019/815 of the European Commission.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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,
2020 were prepared by the Group&#8217;s Directors (through the Board of Directors meeting
held on February 8, 2021) 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, 2020, together with the consolidated results of its operations
and cash flows generated during the year ended December 31, 2020.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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></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="_Toc376949868"></a><a name="_Toc376972276"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.3. Comparative 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;"><font 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
included in the accompanying consolidated financial statements for the years
ended December 31, 2019 and December 31, 2018, is presented in accordance with
the applicable regulation, for the purpose of comparison with the information
for the year ended December 31, 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=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_254"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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%;">Agreement for
the sale of BBVA&#8217;s U.S. subsidiary to PNC Financial Service 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%;">As mentioned in Note 3, in 2020
BBVA reached an agreement to sell its entire stake in BBVA USA Bancshares,
Inc., parent company of the Group companies engaged in the banking business in
the United States. As required by IFRS 5 &quot;Non-current assets held for sale
and discontinued operations&quot;, the balances of assets and liabilities
corresponding to said companies for sale have been reclassified from their
corresponding accounting headings to the headings &quot;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; respectively, from the
consolidated balance sheet as of December 31, 2020. Similarly, as required by
the aforementioned IFRS 5, the results generated by these companies during the
financial year 2020 are presented in the heading &#8220;Profit (loss) after taxes
from discontinued operations&#8221; of the consolidated income statement for such
year, and in the heading &quot;Non-current assets and disposal groups
classified as held for sale&quot; in the consolidated statements of recognized
income and expense for such year. Additionally, the results corresponding to
the years 2019 and 2018 have been reclassified, to facilitate the comparison
between years, to that same section of the respective consolidated income
statements and consolidated statements of recognized income and expense for
both years. Finally, in the consolidated statements of cash flows, the balances
corresponding to cash and cash equivalents have been reclassified to the
heading &quot;Total cash and cash equivalents classified as non-current assets
and disposal groups classified as held for sale&quot; as of and for the year
ended December 31, 2020.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 21 includes the condensed
consolidated balance sheets, the condensed consolidated income statements and
the condensed consolidated cash flow statements of the companies for sale in
the United States as of and for the years 2020, 2019 and 2018.</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;"><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%;">Considering the interpretation
issued by the International Financial Reporting Interpretations Committee
(IFRIC) in its &#8220;IFRIC Update&#8221; of March 2020 on IAS 29 &#8220;Financial information in
hyperinflationary economies&#8221;, the Group made an accounting policy change which
involves recording the differences generated when translating the restated
financial statements of the subsidiaries in hyperinflationary economies into
euros in the line item &#8220;Accumulated other comprehensive income (loss) &#8211; Items
that may be reclassified to profit or loss &#8211; Foreign currency translation&#8221; of
our consolidated balance sheet net 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 to make the information as
of December 31, 2019 and 2018 comparable with information as of December 31,
2020, such information has been restated by reclassifying &#8364;2,985 million and
&#8364;2,987 million, respectively, from &#8220;Shareholders&#8217; funds &#8211; Retained earnings&#8221;
and &#8364;6 million and &#8364;20 million, respectively, from &#8220;Shareholders&#8217; funds &#8211; Other
reserves&#8221; to the headings &#8220;Accumulated other comprehensive income (loss) &#8211;
Items that may be reclassified to profit or loss &#8211; Foreign currency translation
</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%;">and </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;Accumulated
other comprehensive income (loss) &#8211; Items that may be reclassified to profit or
loss &#8211; Share of other recognized income and expense of investments in joint
ventures and associates&#8221; as of December 31, 2019 and 2018, 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 reclassifications corresponding
to January 1, 2020 and 2019 are included as &quot;Effect of changes in
accounting policies&quot; in the Consolidated Total Statements of Changes in
Equity corresponding to the years ended December 31, 2019 and 2018,
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 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 9- collection of interest on impaired financial
assets</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;line-height:115%;">As a consequence of the application of the interpretation issued
by the IFRIC in its &#8220;IFRIC Update&#8221; of March 2019 regarding the collection of
interest on impaired financial assets under IFRS 9, such collections are
presented since 2020 as reductions in credit-related write-offs whereas
previously they were included as interest income. In order to make the
information comparable, the consolidated income statement information for the
years ended December 31, 2019 and 2018 has been restated by recognizing a &#8364;78
and &#8364;80 million reduction in the heading &#8220;Interest and other income&#8221;,
respectively against the heading &#8220;Impairment or reversal of impairment on
financial assets not measured at fair value through profit or loss or net gains
by modification&#8221;. This reclassification has had no net impact on the profit for
the years ended December 31, 2019 and 2018, respectively, nor on the consolidated
net equity as of December 31, 2019 and 2018, 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 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%;">Trading derivatives recognition</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Information as of and for the year
ended December 31, 2020 has been subject to certain non-significant
presentation modifications, in the balance sheet related to the derivative
activity. In order to make the information as of and for the years ended
December 31, 2019 and 2018 comparable with the information as of and for the
year ended December 31, 2020, figures as of and for the years ended December
31, 2019 and 2018 have been restated by recognizing a &#8364;953 million and a &#8364;1,013
million reduction in the Total Assets and Total Liabilities, respectively.</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="_Toc376949869"></a><a name="_Toc376972277"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.4. 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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_255"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after: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;">1.5.
Management and impacts of the COVID-19 pandemic</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 appearance of
the Coronavirus COVID-19 in China and its global expansion to a large number of
countries, motivated the viral outbreak to be classified as a global pandemic
by the World Health Organization since last March 11, 2020. The pandemic has
affected and continues to adversely affect the world economy and economic
activity and conditions in the countries in which the Group operates, leading
many of them to economic recession. The governments of the different countries
in which the Group operates have adopted different measures that have
conditioned the evolution of the year (see Note 7.2).</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%;">In this pandemic
situation, BBVA has focused its attention on enabling the continuity of the
business operational security as a priority and monitoring the impacts on the
business and on the risks of the Group (such as the impacts on results, capital
or liquidity). Additionally, BBVA adopted from the beginning a series of
measures to support its main interest groups. In this sense, the purpose and
the Group's long-term strategic priorities remain the same and are even
reinforced, with a commitment to technology and data-driven decision-making.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 the aim of mitigating
the impact of COVID-19, various European and International bodies have made
pronouncements to be taken into account in the implementation of the accounting
and prudential frameworks. The BBVA Group has taken these pronouncements into
consideration when preparing these consolidated financial statements (see Note
7.2.1).</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 impacts of COVID-19 pandemic in the BBVA Group's
consolidated Financial Statements are detailed in the following Notes:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:32.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-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%;">Note 1.6 includes information on
the consideration of the COVID-19 pandemic in the estimates made.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:1.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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;</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%;">Note 4 mentions the amendment of
the Group&#8217;s shareholder remuneration policy, in accordance with the
recommendation issued by the European Central Bank, which no longer pays any
amount as a dividend for the financial year 2020 until as long as the
uncertainties generated by the pandemic remain.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:1.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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;</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%;">Note 7.1 details the main risks
associated with the pandemic as well as the impacts that have occurred both in
the operations and in the consolidated financial statements for the year ended
December 31, 2020. Information on the impact of COVID-19 is included in the
macroeconomic forecasts and in the calculation of expected losses.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:1.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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;</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%;">Note 7.2 includes information
related to the initiatives carried out by the Group to help the most affected
clients, jointly with the corresponding governments. Likewise, it contains,
among others, information regarding the level of activity and the amount
corresponding to moratorium measures, both public and private, granted by the
Group worldwide.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:1.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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;</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%;">Note 7.5 presents information
regarding the impact on liquidity and financing risk.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:1.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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;</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%;">Note 18.1 includes information
concerning the impairment of the goodwill in the United States carried out during
the first quarter of 2020, mainly due to the impact of COVID-19 in updating the
macroeconomic scenario and the expected evolution of interest rates.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:1.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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;</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%;">Note 32 includes information with
regard to the impact on the Group's capital.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:1.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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;</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%;">Note 47 includes information on the
impact of the update of the macroeconomic scenario affected by the COVID-19
pandemic.</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="_Toc376949870"></a><a name="_Toc376972278"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.6. 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=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%;">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=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 assumptions used to quantify
certain provisions (see Notes 23 and 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=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 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=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 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=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 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=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 recoverability of deferred tax
assets (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%;">As mentioned
before, on March 11, 2020, COVID-19 was declared as a global pandemic by the
World Health Organization (see Note 1.5). The great uncertainty associated to
the unprecedented nature of this pandemic entails a greater complexity of
developing reliable estimations and applying judgment. </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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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_256"></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:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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, these estimates were made on the basis of the best
available information on the matters analyzed, as of December 31, 2020.
However, it is possible that events may take place in the future which could
make it necessary to amend these estimations (upward or downward), which would
be carried out prospectively, recognizing the effects of the change in
estimation 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 2020 there
have been no relevant changes in the assumptions and estimates made as of
December 31, 2019 and 2018, with the exception of those indicated in these
consolidated Financial Statements.</font></font><a name="XBRL_TS_7ce945a6a29840d18af19f2fb_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_7a5f8164231547029c26f0822"></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;line-height:115%;">1.7. 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 (ICFR). 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;text-align:justify;"><font 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=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 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=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 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=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 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=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 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=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 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;text-align:justify;"><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, defined
and led by Regulation &amp; Internal Control, and which is based in two
pillars:</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 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 and strengthened in 2020, as described below:</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 area&#8217;s
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
(Finance, Legal, IT, Third Party, 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-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 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 committee
structure in the Group, 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></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><a name="XBRL_TS_7a5f8164231547029c26f0822_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=185 id="Imagen 1798591690" src="d20f2020x255x0.gif" width=597></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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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="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:center;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_05c2b548bf8f43858f660e6ae"></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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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_05c2b548bf8f43858f660e6ae_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_e6705a8b9bd84e6d92ecfd8ab"></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;line-height:115%;">2. 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;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 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 align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:left;text-indent:0cm;"><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.
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: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 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%;">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, 2020, 2019 and 2018.
Appendix I includes other significant information on all entities.</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%;">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, 2020. </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%;">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%;">.</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, 2020, 2019 and 2018, 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: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%;">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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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%;">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>

<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: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=ES 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: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%;">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:0cm;margin-left:53.4pt;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%;">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:0cm;margin-left:53.4pt;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%;">Potential existence of a special
relationship with the investee.</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:53.4pt;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%;">Implicit or explicit Group
commitments to support the investee.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.4pt;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%;">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%;">These types 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 advances, 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><b><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> &nbsp;</font></b></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=ES 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=ES style="font-size:8.0pt;line-height:115%;">&#160;</font><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The Group owns other vehicles also for the purpose
of allowing customers access to certain investments, to transfer risks, and for
other purposes, but without the Group having control of the vehicles, which are
not consolidated in accordance with 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, 2020, 2019 and
2018, 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, 2020, 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, 2020 were used.</font></font><a name="XBRL_TS_e6705a8b9bd84e6d92ecfd8ab_bclEnd"></a></p>

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<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:left;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:10.0pt;line-height:115%;">2.2. Accounting principles and policies and applied valuation
methods</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 accounting principles and policies and the valuation methods
applied in the preparation of the consolidated financial statements may differ
from those used, at the individual level, by some of the entities that are part
of the BBVA Group; This is why, in the consolidation process, the necessary
adjustments and reclassifications are made to standardize such principles and
criteria among themselves and bring them into line with the IFRS-EU.</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 preparing the accompanying consolidated Annual Accounts, the
following accounting principles and policies and assessment criteria have been
applied:</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="_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. 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. However, the Group has
chosen to continue applying IAS 39 for accounting for hedges, until the
completion of the macro-hedging project of IFRS 9 as permitted by IFRS 9.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font 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;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></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 classification
of financial instruments in the categories of amortized cost or fair value
depends on the business model with which the entity manages the assets and the
contractual characteristics of the cash flows, commonly known as the
&quot;solely payments of principle and interest&quot; criterion (hereinafter,
the SPPI).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font 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 assessment of
the business model should reflect the way the Group manages groups of financial
assets and does not depend on the intention for an individual instrument. Thus,
for each entity within the BBVA Group there are different business models for
managing assets.</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%;">In
order to determine the business model, the following aspects are taken into
account:</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 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 way in which
the performance of the business model (and that of the assets which comprise
such business model) is evaluated and reported to the entity's key personnel;</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 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 risks and the
way in which the risks that affect the performance of the business model are
managed;</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 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 way in which
business model managers are remunerated;</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 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 frequency,
amount and timing of sales in previous years, the reasons for such sales and
expectations regarding future sales.</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%;">Regarding the SPPI test, the
analysis of the cash flows aims to determine whether the contractual cash flows
of the assets correspond only to payments of principal and interest on the
principal amount outstanding at the beginning of the transaction. Interest is
understood here as the consideration for the time value of money; and for the
credit risk associated with the principal amount outstanding during a specific
period; and for financing and structure costs, plus a profit margin.</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%;">The most
significant judgments used by the Group in evaluating compliance with the
conditions of the SPPI test are the following:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font 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%;">Modified time value: in the event
that a financial asset includes a periodic interest rate adjustment but the
frequency of this adjustment does not coincide with the term of the reference
interest rate (for example, the interest rate reset every six months to a
one-year rate), the Group assesses, at the time of the initial recognition,
this mismatch to determine whether the contractual cash flows (undiscounted)
differ significantly or not from the cash flows (undiscounted) of a benchmark
financial asset, for which there would be no change in the time value of money.
The defined tolerance thresholds are 10% for the differences in each period and
5% for the analysis accumulated throughout the financial asset life.</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%;">Contractual clauses: The
contractual clauses can modify the calendar or the amount of the contractual
cash flows are analyzed to verify if the contractual cash flows that would be
generated during the life of the instrument due to the exercise of those
clauses are only payments of principal and interest on the principal amount
outstanding. To do this, the contractual cash flows that may be generated before
and after the modification are analyzed.</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: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 main criteria taken into account in the analysis are:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">Early termination clauses:
generally a contractual clause that permits the debtor to prepay a debt
instrument before maturity is consistent with SPPI when the prepayment amount
substantially represents unpaid amounts of principal and interest on the
principal amount outstanding (which may include reasonable additional
compensation for the early termination of the contract).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">Instruments with an interest rate
linked to contingent events:</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-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">
<p style="border:none;margin-bottom:6.0pt;margin-left:108.0pt;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%;">An instrument whose interest rate
is reset to a higher rate if the debtor misses a particular payment may meet
the SPPI criterion because of the relationship between missed payments and an
increase in credit risk.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:108.0pt;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%;">An instrument with contractual cash
flows that are indexed to the debtor&#8217;s performance &#8211; e.g. net income or is
adjusted based on a certain index or stock market value would not meet the SPPI
criterion.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">Perpetual instruments: to the
extent that they can be considered instruments with continuous (multiple)
extension options, they meet the SPPI test if the contractual flows meet it.
When the issuer can defer the payment of interest, if such payment would affect
their solvency, they would meet the SPPI test if the deferred interest accrues
additional interest, while if they do not, they would not meet the test.</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%;">Non-recourse financial instruments:
In the case of debt instruments that are repaid primarily with the cash flows
of specific assets or projects and the debtor has no legal responsibility, the
underlying assets or cash flows are evaluated to determine whether the
contractual cash flows of the instrument are consistent with payments of
principal and interest on the principal amount outstanding.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">If the contractual terms do not
give rise to additional cash flows to payments of principal and interest on the
amount of principal outstanding or limitations to these payments, the SPPI test
is met.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">If the debt instrument effectively
represents an investment in the underlying assets and its cash flows are
inconsistent with principal and interest (because they depend on the
performance of a business), the SPPI test is not met.</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%;">Contractually linked instruments: a
look-through analysis is carried out in the case of transactions that are set
through the issuance of multiple financial instruments forming tranches that
create concentrations of credit risk in which there is an order of priority
that specifies how the flows of cash generated by the underlying set of
financial instruments are allocated to the different tranches. The debt
tranches of the instrument will comply with the requirement that their cash
flows represent only payment of principal and interest on the outstanding
principal if:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><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 color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;
&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 terms of the
tranche being assessed for classification (without looking through to the
underlying pool of financial instruments) give rise to cash flows that are
solely payments of principal and interest on the principal amount outstanding </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><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%;">b)</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;
&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 underlying pool of financial
instruments comprises instruments with cash flow that are solely payments of
principal and interest on the principal amount outstanding, and</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><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%;">c)</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;
&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 exposure to credit risk in the
underlying pool of financial instruments inherent in the tranche is equal to or
lower than the exposure to credit risk of the underlying pool of financial
instruments (for example, the credit rating of the tranche being assessed for
classification is equal to or higher than the credit rating that would apply to
a single tranche that funded the underlying pool of financial 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%;">In any event, the contractual
conditions that, at the time of the initial recognition, have a minimal effect
on cash flows or depend on the occurrence of exceptional and highly unlikely
events do not prevent compliance with the conditions of the SPPI test.</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%;">Based on the above characteristics,
financial assets will be classified and valued as described below.</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=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 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=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 contractual conditions of the
financial asset give rise to cash flows that are only payments of 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 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=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 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=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 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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<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, with the exception of those financial assets which are 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%;">All changes in the
value of financial assets due to the interest accrual and similar items are
recorded in the headings &quot;Interest income and other similar income&quot;
or &quot;Interest expenses&quot;, of the consolidated income statement of the
year in which the accrual occurred (see Note 37),</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &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%;">except for trading derivatives that are not
economic and accounting hedges.</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; or &#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 or loss&#8221;
are assigned to a business model which objective is to obtain the contractual
cash flows and / or to sell those instruments but 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 or 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 &#8220;Exchange differences, net&#8221; 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-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%;">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
interest income on 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 (loss) - Items that may be reclassified
to profit or loss - Fair value changes of debt instruments measured at fair
value through other comprehensive income&#8221; in the consolidated balance sheets
(see Note 30).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The amounts recognized under the
headings &#8220;Accumulated other comprehensive income (loss) - 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;Impairment or reversal of impairment on
financial assets not measured at fair value through profit or loss or net gains
by modification - Financial assets at fair value through other comprehensive
income&#8221; (see Note 48) 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%;">Interest income on 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:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;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%;">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%;">At the time of initial recognition
of specific investments in equity instruments, the BBVA Group may make the
irrevocable decision to present subsequent changes in fair value in other
comprehensive income. Subsequent changes in this valuation will be recognized
in &quot;Other accumulated comprehensive income - Items that will not be
reclassified in results - Changes in the fair value of equity instruments
measured at fair value with changes in other comprehensive income&quot;.
Dividends received from these investments are recorded in the heading
&quot;Dividend income&quot; in the consolidated income statement (see Note 38).
These instruments are not subject to the impairment model of IFRS 9.</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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_262"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 or net gains by
modification &#8211; financial assets measured at amortized cost&#8221; in the consolidated
income statement for such period (see Note 47).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after: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: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%;">Financial liabilities 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%;">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: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%;">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%;">Financial
liabilities are initially recorded at fair value, less transaction costs that
are directly attributable to the issuance of instruments, except for financial
instruments that are 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%;">Variations in the
value of financial liabilities due to the interest accrual and similar items
are recorded in the headings &#8220;Interest income and other similar income&#8221; or
&#8220;Interest expense&#8221;, of the consolidated income statement for the period in
which the accrual occurred (see Note 37), except for trading derivatives that
are not economic and accounting hedges.</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>

<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). Nevertheless, the changes in the
own credit risk of the liabilities designated under the fair value option is
presented in &#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%;">,
unless this treatment brings about or increases an asymmetry in the income
statement. However, changes in fair value resulting from variations in foreign
exchange rates are recognized under the heading &#8220;Exchange differences, net&#8221; 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;">&#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: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;">Hybrid 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 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 a financial liability contains
an embedded derivative, the Group analyzes whether the economic characteristics
and risks of the embedded derivative and the host instrument are closely
related.</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%;">If the characteristics and risks of
the host and the derivative are closely related, the instrument as a whole will
be classified and measured according to the general rules for financial
liabilities. If, on the other hand, the economic characteristics and risks of
the embedded derivative are not closely related to the economic characteristics
and risks of the host, its terms meet the definition of a derivative and the hybrid
contract is not measured at fair value with changes in fair value recognized in
profit or loss, the embedded derivative shall be separated from the host and
accounted for as a derivative separately at fair value with changes in profit
and loss and the host instrument will be classified and measured according to
its nature.</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_f400dfc2722a4c599f1028fff"></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%;">The Group uses
financial derivatives as a tool for managing financial risks, mainly interest
rates and exchange rates (See Note 7).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 these
transactions meet certain requirements, they are considered
&quot;hedging&quot;.</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>


</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%;">Changes occurring subsequent
to the designation of the hedging relationship in the measurement of financial
instruments designated as hedged items as well as financial instruments
designated as hedge accounting instruments are recognized as follows:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><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;&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 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 corresponding 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:10.0pt;margin-left:35.45pt;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: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;&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 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 the corresponding offset 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:10.0pt;margin-left:35.45pt;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: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;&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 cash flow hedges, the gain or
loss on the hedging instruments relating to the effective portion are
recognized temporarily under the heading &#8220;Accumulated other comprehensive
income (loss) - Items that may be reclassified to profit or loss - Hedging
derivatives. Cash flow hedges (effective portion)&#8221; in the consolidated balance
sheets, with a balancing entry under the heading &#8220;Hedging derivatives&#8221; of the
Assets or Liabilities of the consolidated balance sheets as applicable. These
differences are recognized 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:10.0pt;margin-left:35.45pt;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: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;&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%;">Differences in the measurement of
the hedging items corresponding to the ineffective portions of cash flow hedges
are recognized directly in the heading &#8220;Gains (losses) from hedge accounting,
net&#8221; in the consolidated income statement (see Note 41).</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:-21.25pt;"><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;&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 hedges of net investments in
foreign operations, the differences attributable to the effective portions of
hedging items are recognized temporarily under the heading &quot;Accumulated
other comprehensive income (loss) - Items that may be reclassified 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%;">o profit or loss &#8211; Hedging of net investments in foreign
operations (effective portion)&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_f400dfc2722a4c599f1028fff_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_c43b8e883b374446b3392473a"></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:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The &#8220;expected
losses&#8221; impairment model is applied to financial assets valued at amortized
cost, to debt instruments valued at fair value with changes in other
accumulated comprehensive income, to financial guarantee contracts and other commitments.
All financial instruments valued at fair value through profit or loss are
excluded from the impairment model</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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:10.0pt;margin-left:35.45pt;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: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;&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%;">Expected loss at 12 months:
expected credit loss that arises from possible default events within 12 months
following the presentation date of the financial statements; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;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: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;&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%;">Expected loss during the life of
the transaction: this is the expected credit loss that arises from all possible
default events over the remaining life of the financial instrument.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Both, the modeling
for expected losses estimates and the factors affecting such losses forecasts
require considerable judgment, which must be carried out on a weighted
probability basis.</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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_264"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 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 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;&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: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 has applied a definition of default for financial
instruments that is consistent with that used in internal credit risk
management, </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%;">and coherent with the definition
applied by the Group within the prudential context. </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 considered the existence of 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;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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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, 2020, the Group has not considered periods
higher than 90 days for any significant portfolio. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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
criteria are aligned in all the geographies where the Group operates, being
only minor differences kept in order to facilitate management adoption al a
national level. In this sense, national criteria are permitted, within the
Group standards and searching for consistency and coherence between the
geographies, easing the adoption of the default definition management.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><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;&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: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%;">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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 for wholesale counterparties is carried out at the customer (or group)
level. For this reason, the classification of any of a client's exposures as
impaired, whether due to more than 90 days of default or due to any of the
subjective criteria, implies the classification as impaired of all the client's
exposures. There may be some justified exception that, in any case, are not
significant.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Regarding retail
clients, which are managed at the operation level, the scoring systems review
their score, among other reasons, in the event of a breach in any of their transactions
which also triggers the necessary recovery actions. These include refinancing
measures that, where appropriate, may lead to all customer transactions being
considered impaired. Furthermore, given the granularity of the retail
portfolios, the differential behavior of these clients in relation to their
products and collateral provided, as well as the time necessary to find the
best solution, the Group has established as an indicator that when a
transaction of a retail client has default in excess of 90 days and this
represents more than 20% of the client's total balance, all its transactions
are considered impaired, this without prejudice to the fact that lower limits
have been established due to management practices in some geography.</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 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;&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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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>

<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 model developed by the Group for assessing the significant
increase in credit risk has a two-prong approach that is applied globally (for
more detail on the methodology used, see Note 7.2.1):</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:32.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><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 (see Note 7.2.1).
</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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_265"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin-bottom:6.0pt;margin-left:32.05pt;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%;">Qualitative criterion: most
indicators for detecting significant risk increase are included in the Group's
systems through rating and scoring systems or macroeconomic scenarios, so the
quantitative analysis covers the majority of circumstances. The Group uses
additional qualitative criteria to identify significant increase in credit risk
and thus, to include circumstances that are not reflected in the rating/score
systems or macroeconomic scenarios used. Such qualitative criteria are the
following:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font 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%;">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, 2020, the
Group has not considered periods higher than 30 days.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font 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%;">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:72.0pt;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%;">Refinance or restructuring that
does not show evidence of impairment, or that, having been previously
identified, the existence of significant increase in credit risk is still
considered.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Although the
standard introduces a series of operational simplifications, also known as
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. This possibility is limited to
those financial instruments that are classified as having high credit quality
and high liquidity to comply with the liquidity coverage ratio (&#8220;LCR&#8221;). This
does not prevent these assets from being assigned the credit risk coverage that
corresponds to their classification as Stage 1 based on their credit rating and
macroeconomic expectations.</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 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=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=#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:21.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><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=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=#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:21.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><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=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&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><a name="XBRL_TS_c43b8e883b374446b3392473a_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;">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:-14.7pt;"><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;</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:-14.7pt;"><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;</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:-14.7pt;"><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;</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%;">Expected losses
are measured both individually and 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 individualized
estimate of credit losses results from calculating the difference between the
expected cash flows discounted at the effective interest rate of the
transaction and the carrying amount of the instrument (See Note 7.2.1).</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%;">For the collective measurement of expected losses the instruments
are classified into groups of assets based on their risk characteristics.
Exposure within each group is segmented according to credit risk common
characteristics, which indicate the payment capacity of the borrower according
to the 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 (see Note 7):</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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=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%;">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=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%;">Credit risk scoring or rating.</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-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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=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%;">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=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%;">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=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%;">Qualitative criteria which can have
a significant increase in 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%;">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:-14.7pt;"><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;</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:-14.7pt;"><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;</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-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 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. For these purposes, the probability of
executing the guarantee is considered in the estimation, the moment until its
ownership and subsequent realization, the expected cashflows and acquisition
and sale costs.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">&#160;CCF: cash conversion factor is the
estimate made on off-balance sheet to determine the exposure subject to credit
risk in the event of a default.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">At the BBVA Group, the calculated expected credit losses are based on internal models developed for all portfolios within the IFRS 9 scope, except for the cases that are subject to individual analysis.</font></font></p><p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The calculation and recognition of expected losses includes exposures with governments and credit institutions, for which, despite having a reduced number of defaults in the information databases, internal models have been developed, considering, as sources of information, the data provided by external rating agencies or other observed in the market, such as changes in bond yields, prices of credit default swaps or any other public information on 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 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. To achieve this, the Group generally evaluates the linear
relationship between its estimated loss parameters (PD, GDP, EAD) with the
historical and future forecasts of the 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%;">Additionally, 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;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 approach used by the Group consists of using a methodology
based on the use of three scenarios. The first is the most probable scenario
(base scenario) that is consistent with that used in the Group's internal
management processes, and two additional ones, one more positive and the other
more negative. The combined outcome of these three scenarios is calculated
considering the weight given to each of them. The main macroeconomic variables
that are valued in each of the scenarios for each of the geographies in which
the Group operates are the Gross Domestic Product (GDP), the real estate price
index, interest rates and the unemployment rate, although, in the first place,
the main goal is seeking the greatest predictive capacity with respect to the
former two (see Note 7.2.1).</font></font><a name="XBRL_TS_556de97a0d6a4a41bc7d7dafe_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="_Toc376972285"></a><a name="_Toc376949877"></a><a name="Nota_2_2_2"></a><a name="Nota_2_2_2_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.2. 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:53.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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 style="border:none;margin-bottom:6.0pt;margin-left:53.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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:53.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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.<a name="_Toc376949878"></a><a name="_Toc376972286"></a></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;"><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.
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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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;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%;">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;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%;">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></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;">2.2.4.
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 heading
&#8220;Non-current assets and disposal groups classified as held for sale&#8221; in the
consolidated balance sheet includes the carrying amount of individual items or
items integrated in a group (&quot;disposal group&quot;) or that form part of a
significant business line or geographic area that it is intended to be disposed
of (&#8220;discontinued operation&#8221;) whose sale is highly probable that it will take
place under the conditions in which such assets are currently located within a
period of one year from the date to which the financial statements refer.
Additionally, assets that were expected to be disposed of within a year but
which disposal is delayed and is caused by events and circumstances beyond the
control of the Group can be classified as held for sale (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%;">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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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
&quot;Non-current assets and disposal groups as held for sale&quot; includes the
assets received by the subsidiaries for the satisfaction, in whole or in part,
of the payment obligations of their debtors (foreclosed or received in payment
of debt or recoveries from financial leasing transactions, unless the Group has
decided to make continued use of those assets). The BBVA Group has specific
units focused on real estate management and sale of these types of 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-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>

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</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">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="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 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. An impairment or reversal of impairment for the
difference is recognized if applicable. When the amount of the sale less estimated
costs of sale is higher than the carrying value, the gain is not recognized
until the moment of disposal and derecognition from the 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%;">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%;">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 assets is based mainly on appraisals or valuations
carried out by independent experts on an annual basis or more frequently if
there are indications of impairment 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%;">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></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%;">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 (see Note 1.3 and 21). This
heading includes the earnings from their sale or other disposal (net of tax
effects).</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="XBRL_TS_ca5d47ec9f354730aa4fc7044"></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. 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;"><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 2.2.18 &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 the 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_9ebc8e0b353d4c198b96ae861_bclEnd"></a><a name="XBRL_TS_ca5d47ec9f354730aa4fc7044_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;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: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>
<tr style="height:21.0pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Lease use rights</font></font></p>
  </td>
 <td width=43% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">The lesser of the lease term or the useful life of the
  underlying asset</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_2130491e65024b4b9fb906481"></a><a name="XBRL_TS_dfc6980699c748c2b3efa35d0"></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%;">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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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></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 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><a name="XBRL_TS_dfc6980699c748c2b3efa35d0_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_e7b77057f5724b75aaf9496b3"></a><a name="_Toc376949882"></a><a name="_Toc376972290"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.6. 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;text-align:justify;"><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: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%;">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: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%;">the net fair value of the assets acquired and liabilities assumed.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

</DIV>
</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">
<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%;">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_e7b77057f5724b75aaf9496b3_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_9022f5c19b76493c819836995"></a><a name="_Toc376972291"></a><a name="_Toc376949883"></a><a name="Nota_2_2_8"></a><a name="Nota_2_2_8_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.7.
Intangible assets</font></b></font><a name="XBRL_TS_9022f5c19b76493c819836995_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_9e7b8e7dbace4b469cfc4dc99"></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;text-align:justify;"><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: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%;">Is the lowest level at which the entity manages goodwill
internally.</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%;">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 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; (see Note 49).</font></font><a name="XBRL_TS_9e7b8e7dbace4b469cfc4dc99_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_89dfb53de02e4039990394204"></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 color=#222222 face=Arial,sans-serif style="background:white;border:none;"><font color=#222222 face=Arial,sans-serif lang=EN-US style="background:white;font-size: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 49). </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 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_89dfb53de02e4039990394204_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_87baa4bf18174f8d9c49dec29"></a><a name="_Toc376949884"></a><a name="_Toc376972292"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.8. 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></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_271"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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: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%;">The most significant provisions recorded by consolidated insurance
entities with respect to insurance policies issued by them are set out by their
nature in Note 23.</font></font></p>

<p style="border:none;margin-bottom: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%;">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: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%;">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;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;">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:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><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%;">Provisions for unearned premiums.
These are intended for the accrual, at the date of calculation, of the premiums
written. Their balance reflects the portion of the premiums received until the
closing date that has to be allocated to the period from year-end to the end of
the insurance policy period. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font 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%;">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: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%;">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: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%;">Provision for claims:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:35.45pt;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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:12.0pt;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: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%;">Provision for bonuses and rebates:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:35.45pt;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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:12.0pt;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: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%;">Technical provisions for
reinsurance ceded:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:35.45pt;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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&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%;">Other technical provisions:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:35.45pt;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_87baa4bf18174f8d9c49dec29_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_d346b1756b5b49f6826ab6306"></a><a name="_Toc376949885"></a><a name="_Toc376972293"></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-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>

</DIV>
</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">
<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;">2.2.9. 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_d346b1756b5b49f6826ab6306_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_ee311e95940c492f831e71f27"></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 calculated 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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 effective 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_ee311e95940c492f831e71f27_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_7dfd1145cbba49e69b98b08a5"></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_7dfd1145cbba49e69b98b08a5_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_a952ce289faf4ce0a4afc5f42"></a><a name="_Toc376949886"></a><a name="_Toc376972294"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.10. 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;text-align:justify;"><font 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: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%;">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: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%;">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: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%;">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 2.2.11, 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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_273"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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;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%;">Contingent liabilities are not recognized in the consolidated
balance sheet or the income statement (excluding contingent liabilities from
businesses combinations) 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_a952ce289faf4ce0a4afc5f42_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_22a3169f96394ebcbd369d913"></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. Pensions and other
post-employment commitments</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%;">Below we provide a
description of the most significant accounting policies relating to
post-employment and other employee benefit commitments assumed by BBVA Group
entities (see Note 25).</font></font></p>

<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;">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>

<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;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 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 in net
terms under the headings &#8220;Interest and other income&#8221; or, where appropriated,
&#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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>


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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;">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;text-align:justify;"><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: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%;">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: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%;">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: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%;">The interest rate used to discount benefit commitments is
determined by reference to market yields, at the balance sheet date, on high
quality bonds.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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 (loss) &#8211; Items that will not be
reclassified to profit or loss &#8211; Actuarial gains (losses) on defined benefit
pension plans&quot; of equity in the consolidated balance sheet (see Note 30).</font></font><a name="XBRL_TS_22a3169f96394ebcbd369d913_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_08775a595ef94156b2b02204f"></a><a name="_Toc376949888"></a><a name="_Toc376972296"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.12. 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_08775a595ef94156b2b02204f_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_813708db6b3d4be18c42e9f05"></a><a name="_Toc376949889"></a><a name="_Toc376972297"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.13. 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_813708db6b3d4be18c42e9f05_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>

<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_f242019af75041cdbf977f50a"></a><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;">2.2.14. 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_f242019af75041cdbf977f50a_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_d0c577dada3c456c829b6c8e2"></a><a name="_Toc376949891"></a><a name="_Toc376972299"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.15. 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;text-align:justify;"><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: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%;">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: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%;">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_d0c577dada3c456c829b6c8e2_bclEnd"></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: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 the foreign currency to the entity&#8217;s functional
currency</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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: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%;">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: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%;">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:0cm;margin-right:0cm;margin-top: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%;">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: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%;">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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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 (loss) - Items 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%;"> - 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>

<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: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%;">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: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%;">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: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%;">Equity items: at the historical exchange rates. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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 (loss) &#8211; Items that may be reclassified to profit or loss - Foreign currency
translation&#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 (loss) -
Items that may be reclassified to profit or loss - of other recognized income
and expense of investments in joint ventures and associates&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 2.2.19). 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 &#8220;Accumulated
other comprehensive income (loss) &#8211; Items that may be reclassified to profit or
loss - Foreign currency translation&#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%;">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,
2020, 2019 and 2018, 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 2.2.19).</font></font><a name="XBRL_TS_78f609473e22493d9b0f92d9c_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>

<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_747fb2acefed4cf793099d6e4"></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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_276"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;">2.2.16.
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_747fb2acefed4cf793099d6e4_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><a name="XBRL_TS_57d4583865904b6fa25fe2a5d"></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%;">Interest
income and expense and similar items:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.45pt;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:4.0pt;margin-left:53.45pt;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;">&#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 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:4.0pt;margin-left:53.45pt;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;">&#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 interest income accrued after the initial recognition will
form part of the gross carrying amount of the debt instrument until it will be
received.</font></font></p>

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

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><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:4.0pt;margin-left:53.3pt;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: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;">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;text-align:justify;text-indent:-17.85pt;"><font color=#0D0D0D face=Symbol style="border:none;"><font color=#0D0D0D face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#0D0D0D face="Times New Roman" 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=#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%;">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 partial 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_57d4583865904b6fa25fe2a5d_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><a name="XBRL_TS_d1069cab48ae4dfca67f0ef24"></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%;">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: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%;">Those relating to financial assets
and liabilities measured at fair value through profit or loss, which are
recognized when collected/paid.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left: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%;">Those arising from transactions or
services that are provided over a period of time, which are recognized over the
life of these transactions or services.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left: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%;">Those relating to a singular
transaction, which are recognized when this singular transaction is carried
out.</font></font><a name="XBRL_TS_d1069cab48ae4dfca67f0ef24_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><a name="XBRL_TS_c7435f43a50048f48514f8793"></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%;">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:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><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_c7435f43a50048f48514f8793_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_63ea2b82cb85490faae1045e2"></a><a name="_Toc376972301"></a><a name="_Toc376949893"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.17. 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_63ea2b82cb85490faae1045e2_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_a4294e6af1534dceacbcda6bf"></a><a name="_Toc376972302"></a><a name="_Toc376949894"></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-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>

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</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-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;">2.2.18.
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;. 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 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;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 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=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%;">Any remeasurement of the lease
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%;">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></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 operating expense&#8221; (see
Note 42).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 advances&#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 effectively 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_2130491e65024b4b9fb906481_bclEnd"></a><a name="XBRL_TS_a4294e6af1534dceacbcda6bf_bclEnd"></a></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;"><a name="XBRL_TS_d81b4c59419e42038c0a337f0"></a><a name="XBRL_TS_cb5be1a0a8d64b3fb63fe99bd"></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;">2.2.19. Entities and branches
located in countries with hyperinflationary economies</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%;">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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_278"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 2020, 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;343, &#8364;470 and &#8364;703
million, respectively, of which &#8364;228, &#8364;313 and &#8364;463 million, respectively, have
been recorded within &#8220;Equity &#8211; Accumulated other comprehensive income /(loss)&#8221;
and &#8364;115, &#8364;157 and &#8364;240 million, respectively, within &#8220;Minority interests &#8211;
Accumulated other comprehensive income/(loss)&#8221;. Furthermore, during 2020, 2019 and
2018 the decrease in the reserves of Group entities located in Argentina
derived from the conversion (IAS 21) amounted to &#8364;482, &#8364;460 and &#8364;773 million,
respectively, of which &#8364;320, &#8364;305 and &#8364;515 million, respectively, have been
recorded within &#8220;Equity &#8211; Accumulated other comprehensive income/(loss)&#8221;, and
&#8364;162, &#8364;155 and &#8364;258 million, respectively, within &#8220;Minority interests &#8211;
Accumulated other comprehensive income/(loss)&#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, 2020, 2019 and 2018. The net loss in the profit attributable to the parent
company of the Group in 2020, 2019 and 2018 derived from the application of IAS
29 amounted to &#8364;148, &#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
2020, 2019 and 2018 derived from the application of IAS 21 which amounted to
&#8364;26, &#8364;34 and &#8364;57 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
breakdown of the General Price Index (&#8220;GPI&#8221;) and the inflation index used as of
December 31, 2020 for the inflation of the financial statements of the Group
companies located in Argentina is as follows:</font></font><a name="XBRL_TS_cb5be1a0a8d64b3fb63fe99bd_bclEnd"></a><a name="XBRL_TS_d81b4c59419e42038c0a337f0_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=2 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:7.0pt;">General Price Index
  </font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=82% 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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">0</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;">2020</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.0pt;">
  <td width=82% style="border:none;height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:7.0pt;">
  <td width=82% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:7.0pt;">
  <td width=82% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">36.5%</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_f45ea2317706471ab262ddb06"></a><a name="XBRL_TS_f85f77aed7fc46bb911a289ac"></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;5, &#8364;8 and &#8364;12 million in 2020, 2019 and 2018, respectively (see Note 2.2.15).</font></font><a name="XBRL_TS_f45ea2317706471ab262ddb06_bclEnd"></a><a name="XBRL_TS_f85f77aed7fc46bb911a289ac_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_b0cb9ddf33b54461824128a66"></a><a name="_Toc376949899"></a><a name="_Toc376972307"></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;line-height:115%;">2.3. 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 2020</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 following amendments to the IFRS standards or their
interpretations (hereinafter &#8220;IFRIC&#8221;) became effective in 2020. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;"><a name="_Toc256000010"></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%;">IAS
1 and IAS 8 &#8211; &#8220;Definition of Material&#8221;</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;line-height:115%;">The amendments clarify the definition of &#8220;material&#8221; in the
preparation of the financial statements by aligning the definition of the
Conceptual Framework, IAS 1 and IAS 8 (which, before such amendment, contained
similar but not identical definitions). The new definition of material is as
follows: &#8220;information is material if its omission, misrepresentation or
obscuration can reasonably be expected to influence the decisions made by the
primary users of a specific entity&#8217;s general purpose financial statements,
based on those financial statements.&#8221;</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;line-height:115%;">The implementation of this standard has had no significant impact
on the Group&#180;s consolidated financial statements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;"><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; &#8220;Definition of a business&#8221;</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;line-height:115%;">The amendment clarifies the
difference between &#8220;acquiring a business&#8221; or &#8220;acquiring a group of assets&#8221; for
accounting purposes. To determine whether a transaction is the acquisition of a
business, an entity has to evaluate and conclude that the following two
conditions are met:</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 fair value of the assets
acquired is not in a single asset or group of similar 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-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">
<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 set of acquired activities and
assets includes, as a minimum, an input and a substantive process that together
contribute to the ability to create products.</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: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:8.0pt;line-height:115%;">The implementation of this standard has had no
significant impact on the Group&#180;s consolidated financial statements. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;"><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 9, IAS 39 and IFRS 7 &#8211; Modifications &#8211; IBOR
Reform</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;line-height:115%;">The IBOR Reform (Phase 1) refers to the amendments issued by the
IASB on IFRS 9, IAS 39 and IFRS 7 to avoid that some accounting hedges have to
be discontinued in the period before the reform of the reference rates becomes
effective. BBVA Group applies IAS 39 for hedge accounting, and therefore the
amendments to IFRS 9 referred to in this section do not apply.</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;line-height:115%;">In some cases, and/or jurisdictions, there may exist uncertainty
about the future of some reference rates or their impact on the entity&#8217;s
contracts, which directly causes uncertainty about the timing or amounts of
cash flows of the hedged instrument or the hedging instrument. Due to such
uncertainties, some entities may be forced to discontinue an accounting hedge,
or not be able to designate new hedging relationships.</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;line-height:115%;">Consequently, the amendments include several temporary
simplifications of the requirements for the application of hedge accounting
which apply to all hedging relationships that are affected by the uncertainty
arising from the Reform. A hedging relationship is affected by the reform if it
generates uncertainty about the timing or amount of cash flows of the hedged
financial instrument or the hedge linked to the specific benchmark. The
simplifications refer to the requirements on the highly probable future
transaction in cash flow hedges, on prospective and retrospective effectiveness
(exemption from compliance with the 80%-125% effectiveness ratio) and on the
need to separately identify the risk component.</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;line-height:115%;">As the amendments aim is to provide temporary exceptions to the
application of certain specific hedge accounting requirements, these exceptions
should terminate once the uncertainty is resolved or the hedge ceases to exist.</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;line-height:115%;">The Group also has cash flow and fair value hedge accounting
relationships which are exposed to different IBORS, predominantly EURIBOR,
LIBOR in US dollars and to a much lesser degree Sterling LIBOR and other
benchmark interest rates. The Group considers that the amendments to IAS 39 and
IFRS 7 are applicable when there is uncertainty about future cash flows. </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;line-height:115%;">The nominal amount of the hedging
instruments directly affected by the IBOR reform as of December 31, 2020 is the
following:</font></font><a name="XBRL_TS_b0cb9ddf33b54461824128a66_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_IBOR_001D_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 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;">Millions of Euros </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=38% 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=#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=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;">LIBOR USD </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;">LIBOR GBP</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 - TIIE (*)</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 width=38% 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;">Cash flow hedges</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;">9,084</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=18% 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;">574</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;">9,658</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td 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 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 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;">10,608</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;">266</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,477</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;">12,351</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:4.5pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:12.0pt;">&nbsp;<a name="XBRL_TS_c7e8a09ea9d7432f81d172703"></a><a name="XBRL_FS_e0e82df652fb49cdb250eff56"></a>(*) Equilibrium Interbank Interest
Rate used in Mexico.<a name="XBRL_FS_e0e82df652fb49cdb250eff56_bclEnd"></a></font></font></p>

<p style="border:none;margin:0cm;margin-bottom:4.5pt;"><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;">As
of December 31, 2020, the Group considers that, in general, there is no
uncertainty regarding EURIBOR as it has been replaced by the hybrid EURIBOR
which uses a methodology that meets the standards required by the various
international organizations. In the case of accounting hedges which are
referenced to other benchmark interest rates, despite the uncertainty, based on
the simplifications provided by the standard, the hedging relationships for the
annual period that ended on December 31, 2020, will not be affected by the IBOR
reform.</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 16 &#8211;Leases &#8211; COVID-19 modifications</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;line-height:115%;">On May 28, 2020, the IASB approved an amendment to IFRS 16 to
include a practical expedient to the accounting treatment for rent concessions
(payment deferrals and temporary rent reductions) that occur due to a direct
consequence of COVID-19 (see Note 1.5).</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;line-height:115%;">The amendment permits lessees to account for rent concessions as
if they were not lease modifications to the initial ones.</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">It is applicable to rent concessions related to COVID-19, which
reduces lease payments before June 30, 2021. This amendment is effective from
June 1, 2020.</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;line-height:115%;">The implementation of this standard has had no significant impact
on the Group&#180;s 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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_280"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 issued but not yet effective as of December 31, </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%;">2020</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, 2020. 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%;">IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 -
Modifications - 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%;">On August 27, 2020, the IASB issued
the second phase of the IBOR reform that involves the introduction of
amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, to ensure that the
financial statements reflect the economic effects of the IBOR reform. The
amendments focus on the accounting for financial instruments once a new
benchmark has been introduced.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 modifications introduce the
practical simplification of accounting for changes in the cash flows of the financial
instruments directly caused by the IBOR reform and, if they take place under an
&#8220;economically equivalent&#8221; context, through the effective interest rate of the
financial instrument update. Similarly, a practical simplification will be
applied to IFRS 16 &#8220;Leases&#8221; for leases, when accounting for modifications in
lease agreements as a consequence of the IBOR reform. Additionally, some
exemptions to the hedging requirements are introduced so as not to discontinue
certain hedging relationships. However, similar to the phase 1 amendments,
these phase 2 amendments do not provide exceptions to the valuation
requirements applicable to hedged items and hedging instruments in accordance
with IFRS 9 or IAS 39. Thus, once the new benchmark has been implemented, the
hedged items and hedging instruments must be valued according to the new index,
and any possible ineffectiveness that may exist in the hedge will be recognized
in profit or loss. On the other hand, new disclosures are introduced.</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;line-height:115%;">The IBOR transition is considered to be a complex initiative,
which affects BBVA Group in different geographical areas and business lines, as
well as in a multitude of products, systems and processes. Therefore, BBVA
Group has established an IBOR transition program, provided with a robust
governance structure by means of an Executive Steering Committee, with
representation from senior management of the affected areas, which reports
directly to the Group's Global Leadership Team. At the local level, each
geography has defined a local governance structure with the participation of
senior management. The coordination between geographies is realized through the
Project Management Office (PMO) and the Global Working Groups that incorporate
a multi-geographic and transversal view on the areas of Legal, Risk,
Regulatory, Engineering, Finance and Accounting. The project also involves both
Corporate Assurance of the different geographies and business lines and Global
Corporate Assurance of the Group.</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;line-height:115%;">The IBOR transition project within BBVA Group takes into account
the different approaches and timings of transition to the new RFRs (risk-free
rate) when evaluating the economic, operational, legal, financial, reputational
or compliance risks associated with the transition, as well as defining the
lines of action to mitigate them. A relevant aspect of this transition is its
impact on contracts referenced to LIBOR (mainly dollar) and EONIA rates that
mature after 2021. In this regard, in the case of the EONIA, BBVA aims to carry
out a novation of the contracts maturing after 2021 (it should be noted that
these exposures are immaterial in the Group) and has already begun,
proactively, the renegotiation of collateral contracts to adapt them to the
operations against clearing houses homogeneously which already migrated last
July. The Group already has new fallbacks in place which incorporate the &#8364;STR
as a replacement rate, as well as language to incorporate this benchmark as the
main reference rate in new contracts. In the case of LIBOR, BBVA Group has identified
the stock of contracts expiring after 2021 and is working on the implementation
of tools/systems that will allow the stock to be migrated to solutions such as
those proposed by ISDA (Group entities are either already adhering to the ISDA
protocol or in the process of doing so). Likewise, BBVA Group continues to work
on adapting all its systems and processes to deal with alternative Risk Free
Rates, such as SOFR and SONIA. In the case of EURIBOR, the European authorities
have encouraged amendments of its methodology so that it complies with the
requirements of the European Regulation on Benchmarks. BBVA actively
participates in various working groups, including the EURO RFR WG which works
specifically, amongst others, on the definition of fallbacks in contracts, in
anticipation of an option to change the index 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%;">BBVA Group has a significant number
of financial assets and liabilities referenced to IBOR rates, especially
EURIBOR, which are used, among others, in loans, deposits, debt issuances and
financial derivatives. Furthermore, although the exposure to EONIA is lower in
the banking book, this benchmark interest rate is used in financial derivatives
in the trading book, as well as in the collateral agreements and most are
booked in Spain. In the case of LIBOR, the USD is the most relevant currency
for both cash products and financial derivatives in the banking book and the
trading book. Other LIBOR currencies (CHF, GBP and JPY) have a much lower
specific weight.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 modifications introduced in
the second phase of the reform will be mandatory as of January 2021, with
possible early adoption. In this sense, based on the progress of the transition
to the new indices in the Group, the BBVA Group has considered that it is not
necessary to early adopt IBOR reform phase 2 in the BBVA Group in 2020. On
January 13, 2021, the European Commission has endorsed the aforementioned
modifications.</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 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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_281"></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;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=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 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=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 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, 2023. In 2019, the Group
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></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 4 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%;">The amendment to IFRS 4 includes a
deferral in the temporary exception option regarding the application of IFRS 9
for entities whose business model is predominantly an insurance model until
January 1, 2023, aligning it with the entry into force of the IFRS 17 Insurance
Contracts rule. This modification will be applicable from January 1, 2021,
although it will not have an impact on the Group since the Bank will not take
such option.</font></font><a name="XBRL_TS_c7e8a09ea9d7432f81d172703_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="_Toc298431703"></a><a name="_Toc299029438"></a><a name="_Toc299031521"></a><a name="_Toc299032860"></a><a name="_Toc331260301"></a><a name="_Toc347755839"></a><a name="_Toc376949902"></a><a name="XBRL_TS_87be367ea3c84d76b7f341be5"></a><a name="_Toc505355936"></a><a name="_Toc495478117"></a><a name="_Toc481589065"></a><a name="_Toc457490010"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">3. BBVA Group</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 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, 2020:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:42.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-21.25pt;"><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;&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:42.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-21.25pt;"><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;&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:42.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-21.25pt;"><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;&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:42.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-21.25pt;"><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;&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-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 information related to the Group&#8217;s
total assets as of December 31, 2020, 2019 and 2018, broken down by the Group&#8217;s
entities according to their activity:</font></font><a name="XBRL_TS_87be367ea3c84d76b7f341be5_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_3_001_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td colspan=4 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;">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=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;">2020</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>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=61% 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=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;">705,683</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;">666,366</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;">646,199</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=61% 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=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28,667</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">29,300</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">26,684</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=61% 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 non-financial
  services</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,826</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,071</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,793</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=61% style="background:#5AC4C4;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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">736,176</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">697,737</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">675,675</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_ff4ff9c506474425907fc6973"></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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="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;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:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&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:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;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</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;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%;">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:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&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;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 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 Chile. 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;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 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, 2020,
are consolidated (see Note 2.1).</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:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&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 the BBVA, S.A. New
York branch, the Houston branch of BBVA Mexico, </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 stake in Propel Venture Partners and the business
developed through its broker dealer BBVA Securities Inc.</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%;"> and a representative office in Silicon Valley (California). </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%;">Regarding the sale agreement reached with PNC, it
includes BBVA USA and other subsidiaries in the United States with activities
related to the banking activity (see below &#8220;Significant transactions in the
Group in 2020&#8221; in this same Note)</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:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&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:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&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, the Netherlands, Finland and Romania, and branches in Germany,
Belgium, France, Italy, Portugal and the United Kingdom.</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:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&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></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 2020 </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:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=#009EE5 face=Arial,sans-serif style="border:none;"><font color=#009EE5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Agreement for the sale of BBVA&#8217;s U.S. subsidiary to
PNC Financial Service 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: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;">On November 15, 2020, BBVA reached an agreement with The PNC
Financial Services Group, Inc. for the sale of 100% of the capital stock of its
subsidiary BBVA USA Bancshares, Inc., which in turn owns all the capital stock
of the bank, BBVA USA, as well as other companies of the BBVA Group in the
United States with activities related to this banking business. </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;">The agreement reached does not include the sale of the
institutional business of the BBVA Group developed through its broker dealer
BBVA Securities Inc. nor the participation in Propel Venture Partners US Fund
I, L.P. which will be transferred by BBVA USA Bancshares, Inc. to entities of
the BBVA Group prior to the closing of the transaction. In addition, BBVA will
continue to develop the wholesale business that it currently carries out
through its branch in New York. </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-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>

</DIV>
</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">
<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;">The price of the transaction
amounts to approximately $11,600 million. The price will be fully paid 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;"><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 expected
that the transaction would result in a positive impact on BBVA Group&#8217;s Common
Equity Tier 1 ratio (fully loaded) of approximately 294 basis points and
positive results (net of taxes) of approximately &#8364;580 million (calculated at an
exchange rate 1.20 EUR /USD). During the year ended December 31, 2020,
approximately &#8364;300 million has been recognized for the entities to be disposed
of (which corresponds to the results of the entities to be disposed of
recognized in the caption Profit (loss) after tax from discontinued operations
excluding the impacts of the impairment of goodwill), as well as an
approximately positive impact of 9 basis points of Common Equity Tier I (fully
loaded).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font 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 closing of the transaction is subject to
obtaining regulatory authorizations from the competent authorities. It is
estimated that the closing of the transaction would take place in mid 2021.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 21 shows,
among other information the condensed balance sheets of the entities to be
disposed of as of December 31, 2020, 2019 and 2018 and the related condensed
income statements as of and for the years ended December 31, 2020, 2019 and
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;"><font color=#009EE5 face=Arial,sans-serif style="border:none;"><font color=#009EE5 face=Arial,sans-serif lang=ES style="font-size:8.0pt;line-height:115%;">Alliance with </font></font><font color=#009EE5 face=Arial,sans-serif style="border:none;"><font color=#009EE5 face=Arial,sans-serif lang=ES style="font-size:8.0pt;line-height:115%;">Allianz,
Compa&#241;&#237;a de Seguros y Reaseguros, 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;"><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 April 27, 2020,
BBVA reached an agreement with Allianz, Compa&#241;&#237;a de Seguros y Reaseguros, S.A.
to create a bancassurance joint venture in order to develop the non-life
insurance business in Spain, excluding the health insurance line of the
business.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 December 14,
2020, once the required authorizations had been obtained, BBVA completed the
operation and announced the transfer to Allianz, Compa&#241;&#237;a de Seguros y
Reaseguros, S.A. of half plus one share of the company BBVA Allianz Seguros y
Reaseguros, SA, for which it received &#8364;274 million, without taking into account
a variable part of the price (up to 100 million euros depending on certain
objectives and planned milestones). This operation has resulted in a profit net
of taxes of 304 million euros and a positive impact on the fully loaded CET1 of
the BBVA Group of 7 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;"><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;). BBVA owned, directly and
indirectly, 100% of its share capital in BBVA Paraguay.</font></font></p>

<p style="border:none;margin-bottom:9.0pt;margin-left:0cm;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%;">On January 22, 2021 and after obtaining all required
authorizations, BBVA has completed the sale to Banco GNB Paraguay, S.A., an
affiliate of Grupo Gilinski, of its 100% direct and indirect stake share
capital in Banco Bilbao Vizcaya Argentaria Paraguay, S.A. (&#8220;BBVA Paraguay&#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 style="font-size:8.0pt;">The amount received by BBVA amounts to approximately USD250
million (approximately &#8364;210 million). The transaction results in a capital loss
of approximately &#8364;9 million net of taxes. A positive impact on BBVA Group&#8217;s
Common Equity Tier 1 (fully loaded) of approximately 6 basis points is
estimated to be recognized during the first quarter of 2021 (see Note 56). </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 November 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 was transferred (the &#8220;Business&#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-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>

</DIV>
</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">
<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>

<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 the transaction has resulted in the sale of 80% of the share
capital of the company Divarian Propiedad, S.A. to an entity managed by
Cerberus. Divarian is the company to which the BBVA Group has contributed the
Business.</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 (fully
loaded) as of December 31, 2018.</font></font><a name="XBRL_TS_ff4ff9c506474425907fc6973_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_da0f26130cc84e6bab8ca0175"></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;line-height:115%;">4. 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: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: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%;">Throughout 2018, 2019 and 2020, 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: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 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 to &#8364;996 million and is
recognized under heading &#8220;Total equity- Retained earnings&#8221; of the consolidated
balance sheet as of December 31, 2018. </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=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 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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 net of 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 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%;">1,064 </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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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) 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 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%;">665 </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%;">million and is recognized
under the heading &#8220;Total equity- Interim dividends&#8221; of the consolidated balance
sheet as of December 31, 2019.</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 Annual General Meeting of BBVA
held on March 13, 2020, approved, under item 1 of the Agenda, the payment of a
final dividend for 2019, in addition to other dividends previously paid, in
cash for an amount equal to &#8364;0.16 (&#8364;0.1296 net of withholding tax) per BBVA
share. The total amount paid to shareholders on April 9, 2020, after deducting
treasury shares held by the Group&#8217;s Companies, amounted to &#8364;</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%;">1,065 </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%;">million and is recognized
under the heading &#8220;Total equity- Retained earnings&#8221; of the consolidated balance
sheet as of December 31, 2020.</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%;">In accordance with recommendation
ECB/2020/19 issued by the ECB on March 27, 2020 on dividend distributions
during the COVID-19 pandemic, the Board of Directors of BBVA resolved to modify
for the financial year corresponding to 2020 the dividend policy of the Group,
announced on February 1, 2017, determining as new policy for 2020 not to pay
any dividend amount corresponding to 2020 until the uncertainties caused by
COVID-19 disappear and, in any case, not before the end of such fiscal year. On
July 27, 2020, the ECB prolonged this recommendation until January 1, 2021 by
adopting recommendation ECB/2020/35.</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%;">On December 15, 2020 the ECB issued
recommendation ECB/2020/62, repealing recommendation ECB/2020/35 and
recommending that significant credit institutions exercise extreme prudence
when deciding on or paying out dividends or performing share buy-backs aimed at
remunerating shareholders. Recommendation ECB/2020/62 circumscribes prudent
distributions to results of 2019 and 2020 but excluding distributions regarding
2021 until September 30, 2021, when the ECB will reevaluate the economic
situation. BBVA intends to reinstate its dividend policy of the Group announced
on February 1, 2017 once the recommendation ECB/2020/62 is repealed and there
are no additional restrictions or limitations.</font></font><a name="XBRL_TS_da0f26130cc84e6bab8ca0175_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_5ea19457c0144582ab3046e7e"></a><a name="_Toc331260302"></a><a name="_Toc347755840"></a><a name="_Toc376949903"></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: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-GB style="font-size:8.0pt;line-height:115%;">Proposal on allocation of earnings of BBVA, S.A. for
2020</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 Board of Directors will submit
for the approval of the Ordinary General Shareholders&#8217; Meeting the proposal to
apply the result of Banco Bilbao Vizcaya Argentaria, S.A. for the 2020
financial year amounting to &#8364;2,182 million of losses to the prior years&#8217; losses
account. Furthermore, the offsetting of the prior years&#8217; losses will likewise
be submitted for approval, the amount of which amounts to &#8364;2,182 million, after
the application of the 2020 financial year results in accordance with the
previous paragraph, against the voluntary reserves account under the
&quot;Retained earnings&quot; heading.</font></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;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:9.0pt;line-height:115%;">Other shareholder
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%;">On January 29, 2021, it was
announced that a cash distribution in the amount of &#8364;0.059 gross per share as
shareholder remuneration in relation to the Group&#8217;s result in the 2020
financial year was expected to be submitted to the relevant governing bodies of
BBVA for consideration (see Note 56).</font></font><a name="XBRL_TS_5ea19457c0144582ab3046e7e_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_638b234312d244768e41e2413"></a><a name="_Toc505355938"></a><a name="_Toc495478119"></a><a name="_Toc481589067"></a><a name="_Toc457490012"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">5. 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_638b234312d244768e41e2413_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:12.75pt;">
  <td colspan=4 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 lang=EN-US style="font-size:8.0pt;">Basic and
  Diluted Earnings per Share</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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=#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 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=#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:13.5pt;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>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><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="border:none;border-bottom:solid black 1.0pt;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=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><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:12.75pt;">
  <td width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Profit
  attributable to parent company</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;">1,305</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;">3,512</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;">5,400</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Adjustment:
  Additional Tier 1 securities (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;">(387)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.5pt;">
  <td width=67% style="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;">Profit
  adjusted (millions of euros) (A)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">917</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=#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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:21.0pt;">
  <td width=67% style="height:21.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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)
  (See Note 21)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,729)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(758)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">704</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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 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 lang=EN-US 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Weighted
  average number of shares outstanding (2)</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;">6,668</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;">6,668</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;">6,668</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Weighted
  average number of shares outstanding x corrective factor (3)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,668</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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;">6,655</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;">6,648</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;">6,636</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 (D)</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;">6,655</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;">6,648</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;">6,636</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Earnings (losses)
  per share (*)</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;">0.14</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;">0.47</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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>
 </tr>
<tr style="height:12.75pt;">
  <td width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Basic earnings
  (losses) per share from continued operations (Euros per share)A-B/C</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;">0.40</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.58</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;">0.64</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Diluted
  earnings (losses) per share from continued operations (Euros per share)A-B/D</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.40</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.58</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;">0.64</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Basic earnings
  (losses) per share from discontinued operations (Euros per share)B/C</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(0.26)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(0.11)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.11</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Diluted
  earnings (losses) per share from discontinued operations (Euros per share)B/D</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(0.26)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(0.11)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.11</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_72f155f332374eb4bafc7d130"></a><a name="XBRL_FS_211026a4341e4a8c90838ac28"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(1)
Remuneration in the year related to contingent convertible securities,
recognized in equity (see Note 22.4).</font></font><a name="XBRL_FS_211026a4341e4a8c90838ac28_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_748500d868304e91a77c55076"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(2) Weighted
average number of shares outstanding (millions of euros), excluding weighted
average of treasury shares during the year.</font></font><a name="XBRL_FS_748500d868304e91a77c55076_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_9cdda6fdad61408283e9e3496"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(3)
Corrective factor, due to the capital increase with pre-emptive subscription
right, applied for the previous years.</font></font></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_9cdda6fdad61408283e9e3496_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&#160;<a name="XBRL_FS_24d74b54410049efa9923a1a9"></a>(*) In 2020, 2019 and 2018 the
weighted average number of shares outstanding was 6,668 million and the
adjustment of additional Tier 1 securities amounted to &#8364;387 million (&#8364;419 and
&#8364;447 million in 2019 and 2018, respectively).<a name="XBRL_FS_24d74b54410049efa9923a1a9_bclEnd"></a></font></font></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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&#160;<a name="XBRL_FS_c9470dcc32834e2b9dff4b52d"></a>(**) Restated due to the sale of the
stake in BBVA USA (see Notes 3 and 21).<a name="XBRL_FS_c9470dcc32834e2b9dff4b52d_bclEnd"></a></font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">As of December 31, 2020, 2019 and 2018, 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_72f155f332374eb4bafc7d130_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_3831b0d801114089b9345a2a5"></a><a name="_Toc505355939"></a><a name="_Toc495478120"></a><a name="_Toc481589068"></a><a name="_Toc457490013"></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-45</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_286"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;line-height:115%;">6. 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: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, 2020, the structure of the 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 Group'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 &#8220;Non-current assets held for sale and
discontinued operations&#8221; (see Notes 2.2.4 and 21). Likewise, in accordance with
IFRS 8 &#8220;Operating Segments&#8221;, information on the United States operating segment
including the balances of the companies 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:</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=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, including the results
of the new company BBVA Allianz Seguros y Reaseguros, S.A. (see Note 3).</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=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
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).</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=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 BBVA Mexico 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:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;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%;">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:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;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%;">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 of the transaction took place in January 2021 (see Note
3).</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=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: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 BBVA Group&#8217;s total assets by operating
segments as of December 31, 2020, 2019 and 2018, is as follows:</font></font><a name="XBRL_TS_3831b0d801114089b9345a2a5_bclEnd"></a></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;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:22.5pt;">
  <td width=61% 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=#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: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;">2020</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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>
 </tr>
<tr style="height:11.25pt;">
  <td width=61% 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;">Spain</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:8.0pt;">405,878</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:8.0pt;">364,427</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:8.0pt;">353,923</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=61% 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;">The United States</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:8.0pt;">93,953</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:8.0pt;">88,529</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:8.0pt;">82,057</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=61% 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;">Mexico</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:8.0pt;">110,224</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:8.0pt;">109,079</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:8.0pt;">97,432</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=61% 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;">Turkey </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:8.0pt;">59,585</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:8.0pt;">64,416</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:8.0pt;">66,250</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=61% 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;">South America</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:8.0pt;">55,435</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:8.0pt;">54,996</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:8.0pt;">54,373</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=61% 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;">Rest of Eurasia</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:8.0pt;">22,881</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:8.0pt;">23,257</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:8.0pt;">18,845</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=61% style="background:#5AC4C4;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:8.0pt;">Subtotal assets
  by operating segments</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">747,957</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">704,703</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">672,880</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=61% 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;">Corporate Center and
  adjustments</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:8.0pt;">(11,781)</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:8.0pt;">(6,967)</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:8.0pt;">2,796</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=61% style="background:#5AC4C4;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 assets BBVA
  Group</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">736,176</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">697,737</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">675,675</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;"><a name="XBRL_TS_84789cd2f94541508cc660f47"></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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_287"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;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 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:</font></font><a name="XBRL_TS_84789cd2f94541508cc660f47_bclEnd"></a></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: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=#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: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 Group</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=#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=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=#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=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=#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=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=#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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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;">Rest of Eurasia</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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;">Adjustments (***)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=28% 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=#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=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>
 <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=28% 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;">Net interest income</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;">14,592</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;">3,553</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;">2,284</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;">5,415</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;">2,783</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;">2,701</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;">214</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;">(149)</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;">(2,209)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gross income</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;">20,166</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;">5,554</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;">3,152</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;">7,017</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;">3,573</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;">3,225</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;">510</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;">(2,808)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Operating income</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;">11,079</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;">2,515</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;">1,281</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;">4,677</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;">2,544</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;">1,853</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;">225</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;">(876)</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;">(1,140)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Operating
  profit /(loss) before tax</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;">5,248</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;">809</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;">502</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;">2,472</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;">1,522</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;">896</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;">184</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;">(1,160)</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;">22</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Profit (loss)
  after tax from discontinued operations</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;">(1,729)</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>
 <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;">(1,729)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=28% style="background:#5AC4C4;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;">Net attributable
  profit (loss) (**)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,305</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">606</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=8% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,759</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=8% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">446</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">137</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(2,635)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<tr style="height:11.25pt;">
  <td width=28% 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=#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=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>
 <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 nowrap width=28% 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;">Net interest income</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;">15,789</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;">3,567</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;">2,395</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;">6,209</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;">2,814</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;">3,196</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;">175</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;">(233)</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;">(2,335)</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gross income</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;">21,522</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;">5,656</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;">3,223</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;">8,029</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;">3,590</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;">3,850</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;">454</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;">(339)</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;">(2,941)</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Operating income</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;">11,368</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;">2,402</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;">1,257</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;">5,384</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;">2,375</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;">2,276</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;">161</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;">(1,294)</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;">(1,193)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Operating
  profit /(loss) before tax</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:8.0pt;">7,046</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:8.0pt;">1,878</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:8.0pt;">705</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:8.0pt;">3,691</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:8.0pt;">1,341</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:8.0pt;">1,396</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:8.0pt;">163</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:8.0pt;">(1,457)</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:8.0pt;">(670)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Profit (loss)
  after tax from discontinued operations</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:8.0pt;">(758)</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:8.0pt;">-</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:8.0pt;">-</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:8.0pt;">-</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:8.0pt;">-</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:8.0pt;">-</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:8.0pt;">-</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:8.0pt;">-</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:8.0pt;">(758)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=28% style="background:#5AC4C4;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;">Net attributable
  profit (loss) (**)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,512</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,386</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">590</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,699</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">506</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">721</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">127</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(2,517)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<tr style="height:11.25pt;">
  <td width=28% 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=#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=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>
 <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 nowrap width=28% 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;">Net interest income</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;">15,285</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;">3,618</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;">2,276</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;">5,568</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;">3,135</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;">3,009</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;">175</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;">(269)</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;">(2,227)</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gross income</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;">20,936</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;">5,888</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;">2,989</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;">7,193</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;">3,901</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;">3,701</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;">415</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;">(420)</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;">(2,731)</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Operating income</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;">10,883</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;">2,554</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;">1,129</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;">4,800</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;">2,654</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;">1,992</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;">128</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;">(1,291)</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;">(1,083)</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Operating
  profit /(loss) before tax</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;">7,565</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;">1,840</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;">920</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;">3,269</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;">1,444</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;">1,288</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;">147</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;">(1,329)</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;">(15)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Profit (loss)
  after tax from discontinued operations</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;">704</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>
 <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;">704</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=28% style="background:#5AC4C4;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;">Net attributable
  profit (loss) (**)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,400</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,400</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">736</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,367</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">567</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">578</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(343)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>



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

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_abc48c3181804d51974f6da64"></a><a name="XBRL_FS_f8e10b5f389b4508831905ab4"></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
figures corresponding to 2019 and 2018 have been restated (see Note 1.3).</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_FS_3f2664dbd3f841ef95675a2e9"></a><a name="XBRL_FS_f8e10b5f389b4508831905ab4_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%;">(**) See Note 55.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_76fa80c9713e41b09ed979b50"></a><a name="XBRL_FS_3f2664dbd3f841ef95675a2e9_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%;">(***) It includes the reclassification as &#8220;Profit (loss) after tax
from discontinued operations&#8221; of the balances from companies for sale in BBVA
USA (see Note 21).</font></font><a name="XBRL_FS_76fa80c9713e41b09ed979b50_bclEnd"></a><a name="XBRL_TS_abc48c3181804d51974f6da64_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%;"> &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="_Toc505356836"></a><a name="_Toc474142221"></a><a name="XBRL_TS_9c056fa298934db19ea6f5eac"></a><a name="_Toc495478121"></a><a name="_Toc481589069"></a><a name="_Toc457490014"></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;layout-grid-mode:char;line-height:115%;">7. Risk management</font></b></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;">7.1. Risk
factors </font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;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%;">BBVA Group has processes in place for identifying risks and
analyzing scenarios in order to enable the Group to manage risks in a dynamic
and proactive way.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;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 risk identification processes are forward looking to seek the
identification of emerging risks and take into account the concerns of both the
business areas, which are close to the reality of the different geographical
areas, and the corporate areas and senior management.</font></font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-47</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_288"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:8.0pt;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%;">Risks are
identified and measured consistently using the methodologies deemed appropriate
in each case. Their measurement includes the design and application of scenario
analyses and stress testing and considers the controls to which the risks are
subjected. As part of this process, a forward projection of the risk appetite
framework variables in stress scenarios is conducted in order to identify
possible deviations from the established thresholds. If any such deviations are
detected, appropriate measures are taken to keep the variables within the
target risk profile. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;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%;">In this context, there are a number
of emerging risks that could affect the evolution of the Group's business.
These risks are included in the following blocks: </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-7.1pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES-TRAD style="font-size:8.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=ES-TRAD style="font-size:7.0pt;line-height:115%;">&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 coronavirus (COVID-19) pandemic
is adversely affecting the world economy and economic activity and conditions
in the countries in which the Group operates, leading many of them to economic
recession in 2020 and relatively moderate activity growth in 2021, so that
probably only from 2022 will the GDP levels observed before the crisis recover.
Among other challenges, these countries are experiencing widespread increases
in unemployment levels and falls in production, while public debt has increased
significantly due to support and spending measures implemented by government
authorities. In addition, there is an increase in defaults on debts by both
companies and individuals, volatility in financial markets, including exchange
rates, and falls in the value of assets and investments, all of which have had
a negative impact on the Group's in the year 2020 and is expected to continue
to affect in the future.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;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%;">Furthermore, the Group may be affected by the measures adopted by
regulatory authorities in the banking sector, including but not limited to, the
recent reductions in reference interest rates, the relaxation of prudential
requirements, the suspension of dividend payments, the adoption of payment
deferrals measures for bank clients (such as those included in Royal Decree Law
11/2020 in Spain, as well as in the CECA-AEB agreement to which BBVA has
adhered and which, among other things, allows loan debtors to extend maturities
and defer interest payments) and facilities to grant credit through a line of
guarantees or public guarantees, especially to companies and the self-employed
individuals, as well as any changes in the financial asset purchase programs.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;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%;">Since the outbreak of COVID-19 pandemic, the Group has experienced
a decline in its activity. For example, the granting of new loans to
individuals has significantly decreased since the beginning of mobility
restriction measures approved in certain countries in which the Group operates.
In addition, the Group faces several risks, such as a greater risk of
impairment of the value of its assets (including financial instruments valued
at fair value, which may undergo significant fluctuations) and of the
securities held for liquidity reasons, a possible significant increase in
non-performing loans and a negative impact on the cost of the Group's financing
and its access to financing (especially in an environment where credit ratings
are affected).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;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%;">Furthermore, in several of the countries in which the Group
operates, including Spain, the Group has temporarily closed a significant
number of its offices and reduced opening hours to the public, and the teams
that provide central services have been working remotely. Although these
measures have been gradually reversed due to the continued expansion of the
COVID-19 pandemic, it is unclear how long it will take until normal operations
can fully resume. On the other hand, the pandemic could adversely affect the
business and operations of third parties that provide critical services to the
Group and, in particular, the higher demand and / or lower availability of
certain resources could in some cases make it more difficult to maintain the
service levels. In addition, the generalization of remote work has increased
the risks related to cybersecurity, as the use of non-corporate networks has
increased.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;margin-left:36.0pt;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%;">As a result of the above, the
COVID-19 pandemic has had an adverse effect on the Group's results and capital
base. During the first half of the year the main accumulated impacts were:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-36.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(i)</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;&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%;">an increase in the cost of risk
associated with the lending activity, mainly due to the deterioration of the
macroeconomic environment, which has had a negative impact of &#8364;2,009 million in
the Group (including the initial adverse effect of the payment deferral) and
provisions for credit risk and contingent commitments for &#8364;95 million, (see
Notes 7.2, 46 and 47); and</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-36.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(ii)</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;&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%;">a deterioration in the goodwill of
the Group's subsidiary in the United States, mainly due to the deterioration of
the macroeconomic scenario in the United States, which has had a net negative
impact of &#8364;2,084 million on the Group's attributed profit in this period
(although this impact does not affect the tangible book value, nor the solvency
or the liquidity of the Group) (see Notes 18.1 and 49).</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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_289"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:8.0pt;margin-left:36.0pt;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%;">From June
30, 2020 on, and as a consequence of the general deterioration of the global
macroeconomic scenario, its specific effects cannot be isolated, affecting all
of the Group's consolidated Financial Statements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:49.65pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES-TRAD style="font-size:8.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=ES-TRAD style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">Macroeconomic and geopolitical
risks</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:54.0pt;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 Global economy is being severely affected by the
COVID-19 pandemic. Supply, demand and financial factors caused an unprecedented
fall in GDP in the first half of 2020. Supported by strong fiscal and monetary
policy measures, as well as greater control over the spread of the virus,
global growth rebounded more than expected in the third quarter, before slowing
down in the fourth, when the number of infections rose again in many regions,
mainly in the United States and Europe. As for 2021, the unfavorable evolution
of the pandemic is expected to adversely affect activity in the short term,
while new fiscal and monetary stimuli, as well as the administering of
coronavirus vaccines, are expected to support recovery from mid-year onwards.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:54.0pt;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%;">Following the massive fiscal and monetary stimuli to
support economic activity and reduce financial tensions, government debt has
increased across the board and interest rates have been cut, and are now at
historical low levels. Additional countercyclical measures may be required.
Similarly, a significant reduction in current stimuli is not expected, at least
until the recovery takes hold.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:54.0pt;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%;">Tensions in the financial markets have moderated
rapidly since the end of March 2020, following the decisive actions taken by
the main central banks and the fiscal packages announced in many countries. In
recent months, the markets have shown relative stability and, at certain times,
risk-taking movements. Likewise, progress related to the development of
COVID-19 vaccines and prospects for economic recovery should pave the way for
financial volatility to persist at relatively low levels in general going
forward.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:54.0pt;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%;">BBVA Research estimates that global GDP contracted by
around 2.6% in 2020 and will expand by around 5.3% in 2021 and 4.1% in 2022.
Activity will recover gradually and heterogeneously among countries. Various
epidemiological, financial and geopolitical factors are also contributing to
the persistent exceptionally high uncertainty.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:54.0pt;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%;">With regard to the banking system, in an environment
in which much of the economic activity has been at a stand still for several
months, the services provided have played an essential role, basically for two
reasons: firstly, the banks have ensured the proper functioning of collections
and payments for households and companies, thereby contributing to the
maintenance of economic activity; secondly, the granting of new lending or the
renewal of existing lending has reduced the impact of the economic slowdown on
household and business income. The support provided by the banks over the
months of lockdown and public guarantees have been essential in softening the
impact of the crisis on companies' liquidity and solvency, meaning that banking
has become its main source of funding for most companies. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:54.0pt;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%;">In terms of profitability, European and Spanish
banking have deteriorated, primarily because many entities recorded high
provisions for impairment on financial assets in the first two quarters of 2020
as a result of the worsening macroeconomic environment following the pandemic
outbreak. Pre-pandemic profitability levels remained far from the levels prior
to the previous financial crisis. This is in addition to the accumulation of
capital since the previous crisis and the very low interest rate environment that
we have been experiencing for several years. Nevertheless, the banks are facing
this situation from a healthy position and with solvency that has been
constantly increasing since the 2008 crisis, with reinforced capital and
liquidity buffers and, therefore, with a greater lending capacity.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:54.0pt;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 BBVA Group has a General Risk Management and
Control Model appropriate to its business model, its organization, the
countries in which it operates and its corporate governance system, which
allows it to carry out its activity within the framework of the risk management
and control strategy and policy defined by the corporate bodies. This model
deals with management in global form adapting itself to the circumstances of
each moment. This Model is applied integrally in the Group.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:54.0pt;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%;">&#160;In this sense, from the beginning of the crisis, the
BBVA Group implemented specific measures for the proper management of these
associated risks, establishing different global initiatives that define the
risk management strategy during the crisis, with common action protocols that
should be implemented and adapted, when needed, to local needs.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:54.0pt;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 BBVA Group global risk unit - Global Risk
Management (hereinafter, &#8220;GRM&#8221;) - has increased the frequency and intensity of
the evaluation of potential impacts on the different groups and clients, in
order to prevent their future evolution, and carried out appropriate
adjustments and reclassifications, reinforcing its processes, governance and
teams in Holding and countries to act in a coordinated manner, focusing
priority on crisis management</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:54.0pt;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%;">Over the past year, it has been found that the
pandemic has a global impact, affecting to a greater extent the sectors in
which there is a high level of human interaction (transport, especially air
transport, leisure, especially hotel establishments, as well as industries and
activities dependent on them), regardless of the regional area in question. For
this reason, the Bank's risk management has clearly been intensified by
sectorial vectors over other conditioning factors such as geographic.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:49.65pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES-TRAD style="font-size:8.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=ES-TRAD style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">Regulatory and
reputational risks</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;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%;">Financial institutions are exposed to a complex and
ever-changing regulatory environment defined by governments and regulators.
This can affect their ability to grow and the capacity of certain businesses to
develop, and result in stricter liquidity and capital requirements with lower
profitability ratios. The Group constantly monitors changes in the regulatory
framework that allow for anticipation and adaptation to them in a timely
manner, adopt industry practices and more efficient and rigorous criteria in
its implementation. </font></font></p>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-49</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_290"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;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 financial
sector is under ever closer scrutiny by regulators, governments and society
itself. In the course of activities, situations which might cause relevant reputational
damage to the entity could raise and might affect the regular course of
business. The attitudes and behaviors of the Group and its members are governed
by the principles of integrity, honesty, long-term vision and industry
practices through, inter alia, the internal control model, the Code of Conduct,
the Corporate Principles in tax matters and Responsible Business Strategy of
the Group.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:49.65pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES-TRAD style="font-size:8.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=ES-TRAD style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">Business, operational
and legal risks</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;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%;">New technologies and forms of customer relationships:
Developments in the digital world and in information technologies pose
significant challenges for financial institutions, entailing threats (new
competitors, disintermediation, etc.) but also opportunities (new framework of
relations with customers, greater ability to adapt to their needs, new products
and distribution channels, etc.). Digital transformation is a priority for the
Group as it aims to lead digital banking of the future as one of its
objectives. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;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%;">Technological risks and security breaches: The Group
is exposed to new threats such as cyber-attacks, theft of internal and customer
databases, fraud in payment systems, etc. that require major investments in
security from both the technological and human point of view. The Group gives
great importance to the active operational and technological risk management
and control. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;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 financial sector faces an environment of
increasing regulatory and litigious pressure, and thus, the various Group
entities are usually party to individual or collective judicial proceedings
(including class actions) resulting from their activity and operations, as well
as arbitration proceedings. The Group is also party to other government
procedures and investigations, such as those carried out by the antitrust
authorities in certain countries which, among other things, have in the past
and could in the future result into sanctions, as well as lead to claims by
customers and others. In addition, the regulatory framework, in the
jurisdictions in which the Group operates, is evolving towards a supervisory
approach more focused on the opening of sanctioning proceedings while some
regulators are focusing their attention on consumer protection and behavioral
risk. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;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%;">In Spain and in other jurisdictions where the Group
operates, legal and regulatory actions and proceedings against financial
institutions, prompted in part by certain judgments in favor of consumers
handed down by national and supranational courts, have increased significantly
in recent years and this trend could continue in the future. The legal and
regulatory actions and proceedings faced by other financial institutions in
relation to these and other matters, especially if such actions or proceedings
result in favorable resolutions for the consumer, could also adversely affect
the Group.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;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%;">All of the above may result in a significant increase
in operating and compliance costs or even a reduction of revenues, and it is
possible that an adverse outcome in any proceedings (depending on the amount
thereof, the penalties imposed or the procedural or management costs for the
Group) could damage the Group's reputation, generate a knock-on effect or
otherwise adversely affect the Group.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;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%;">It is difficult to predict the outcome of legal and
regulatory actions and proceedings, both those to which the Group is currently
exposed and those that may arise in the future, including actions and
proceedings relating to former Group subsidiaries or in respect of which the
Group may have indemnification obligations, but such outcome could be
significantly adverse to the Group. In addition, a decision in any matter,
whether against the Group or against another credit entity facing similar
claims as those faced by the Group, could give rise to other claims against the
Group. In addition, these actions and proceedings attract resources from the
Group and may occupy a great deal of attention on part of the Group's
management and employees.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;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%;">As of December 31, 2020, the Group had &#8364;612 million in
provisions for the proceedings it is facing (included in the line
&quot;Provisions for litigation and pending tax cases&quot; in the consolidated
balance sheet) (see Note 25), of which &#8364;574 million correspond to legal
contingencies and &#8364;38 million to tax related matters. However, the uncertainty
arising from these proceedings (including those for which no provisions have
been made, either because it is not possible to estimate them or for other
reasons) makes it impossible to guarantee that the possible losses arising from
these proceedings will not exceed, where applicable, the amounts that the Group
currently has provisioned and, therefore, could affect the Group's consolidated
results in a given period.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;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%;">As a result of the above, legal and regulatory actions
and proceedings currently faced by the Group or to which it may become subject
in the future or otherwise affected by, individually or in the aggregate, if
resolved in whole or in part adversely to the Group &#769;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:6.0pt;margin-left:2.0cm;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%;">Spanish judicial authorities are investigating the
activities of Centro Exclusivo de Negocios y Transacciones, S.L. (Cenyt). Such
investigation includes the provision of services by Cenyt to the Bank. On 29th
July, 2019, the Bank was named as an official suspect (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 be constitutive of bribery, revelation of secrets and
corruption. 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. Certain current and former officers and employees
of the Group, as well as former directors have also been named as official
suspects in connection with this investigation. The Bank has been and continues
to proactively collaborate with the Spanish judicial authorities, including
sharing with the courts the relevant information obtained in the internal
investigation hired by the entity in 2019 to contribute to the clarification of
the facts. As of the date of the approval of the consolidated financial
statements, no formal accusation against the Bank has been made. </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-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>

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-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:6.0pt;margin-left:2.0cm;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%;">This criminal
judicial proceeding is at the pre-trial phase. 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_9c056fa298934db19ea6f5eac_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_0d448f281fc0407e9ca6660e1"></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;">7.2. Credit 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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">Improve the financial health of our
clients, help them in their decision making and in the daily management of
their finances based on personalized advice.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">Help our clients in the transition
towards a sustainable future, with a focus on climate change and inclusive and
sustainable social development.</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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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:6.0pt;margin-left:63.8pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-1.0cm;"><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;&nbsp;&nbsp;&nbsp;&nbsp;
&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%;">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:6.0pt;margin-left:63.8pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-1.0cm;"><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;&nbsp;&nbsp;&nbsp;&nbsp;
&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%;">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:6.0pt;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;">Payment deferral</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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
governance scheme has been fundamental in managing the COVID-19 crisis in all
the geographies where the Group operates, where both, assessing the flow of
necessary funds for the economies with the rigor in the analysis and monitoring
of the credit quality of the exposures.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Since
the beginning of the pandemic, the Group has offered payment deferral to its
customers (retail, SMEs and wholesale) in all the geographies where it
operates. These moratoriums have been both legislative (based on national laws)
and non-legislative (based on sectorial or individual schemes), aimed at
mitigating the effects of COVID-19. Depending on the cases, the payment of
principal and / or interest has been postponed, maintaining the original
contract. Generally, these deferrals have been given for a period of less than
one year. This measure has been extended to different sectors, being Leisure,
Real Estate and Auto the main users. The deadline to qualify for the moratorium
has been extended in some geographies in recent months, having already come to
an end in Mexico and Argentina. In the others, where this measure is still in
force, this period ends in the first quarter of 2021, except Turkey (in May
2021), Colombia (in July 2021) and the USA (in January 2022).</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;">Specifically, the Group's participation in the following
moratorium or public guarantee measures by geography stands out:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:8.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:normal;">In Spain, payment deferral measures have been covered mainly by
Royal Decree Law 8/2020 and 11/2020, as well as the agreement promoted by the
Spanish Banking Association (hereinafter &#8220;AEB&#8221;) to which BBVA has adhered.</font></font></p>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-51</font></font><font 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_292"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left: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;">The
moratoriums covered by the Royal Decree Law have been proposed to the
especially vulnerable groups indicated in the regulation. These measures
consist of payment deferral of three months of principal and interest. In
addition, the possibility of customers joining sector agreements for the
remaining term until the limit established has been offered that, once said
legal moratorium has expired. By type of customer, they are aimed at
individuals, individual or self-employed entrepreneurs, and by type of product,
mortgage, personal loans or consumer loans.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;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;">The
moratoriums granted under the sectorial agreement of the AEB are aimed at
individuals for up to 12 months of capital deferral in the case of mortgage
loans and up to 6 months in personal loans. Said sector agreement has been in
force until September 29, 2020, but it has been extended until March 30, 2021,
although the new conditions only provide for the payment deferral of capital in
mortgages up to 9 months, remaining 6 months on personal loans.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;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;">In addition,
the Official Credit Institute (ICO) has published several aid programs aimed at
the self-employed, SMEs and companies, through which a guarantee of between 60%
and 80% is granted for a period of up to 5 years to the new financing granted.
The amount of the guarantee and its length depends on the size of the company
and the type of product. The ICO has also subsidized individuals the amount of
the rent up to 6 months in loans up to 6 years.</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: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;&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;">In Mexico, the National Banking Commission of Securities (&#8220;CNBV&#8221;)
published official letters P285/2020 of March 26, 2020 and P293/2020 of April
15, 2020, allowing the granting of capital and interest payment deferral for a
period 4 months extendable for additional 2 additional months. These measures
were mainly used by individuals and companies, affecting mortgage loans,
personal loans and consumer loans, including credit cards.</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: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;&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;">In the United States, payment deferral measures have been mainly
encouraged by the CARES Act, signed on March 27, 2020, which includes a wide
range of supporting measures for companies and individuals, as well as an
interagency statement (Office of the Comptroller of the Monetary Board of
Governors of the Federal Reserve System, Federal Deposit Insurance Corporation,
Office of Consumer Financial Protection and National Administration of Credit
Unions) of April 7, 2020.</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: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;&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;">In Turkey, in mid March the government announced a program to
stimulate the economy (Economic Stability Shield) allowing banks to defer
payments for 3 months, with the possibility of extending up to 6 months, which
was accompanied by several communications of the Banking Regulation and
Supervisory Agency (&#8220;BRSA&#8221;) in this regard. These supporting measures are
granted to both individuals and companies.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:normal;">Likewise, public support programs
have been recognized guaranteeing up to 80% of loans granted to companies for a
period of 1 year.</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: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;&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;">In Colombia, the binding legislation for payment deferral comes
from the Financial Superintendency, specifically from its Circulars 07/2020 and
14/2020, as well as from Resolution No. 385. The payment deferral consists of
the deferral of payments of principal and interest until 6 months. The term to
avail themselves of them has been extended until July 2021.</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: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;&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;">In Peru, measures were approved through various official letters
issued by the Superintendency of Banking and Insurance (&#8220;SBS&#8221;), allowing the
deferral of principal and interest payments initially up to 6 months and then
extended to 12, mainly to individuals, self-employed and small companies.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;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;">Additionally,
there have been public support programs such as &#8220;Reactiva&#8221;, &#8220;Crecer&#8221; or &#8220;FAE&#8221;
aimed at companies and micro-companies with guaranteed amounts that, depending
on the program and the type of company, are in a range of between 60% and 98%.</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: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;&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;">In Argentina, payment deferral measures are based on state
legislation such as Royal Decree 544/2020 or Decree 319/202, as well as various
Central Bank regulations. Aimed at a broad group of customers, they facilitate
deferral of capital and interest for up to 3 months.</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;">Certain
public support programs offering guarantees of up to 100% to micro-SMEs or
individuals and up to 25% to other companies in financing for up to 1 year.</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=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 amount of payment
deferrals (existing and completed) and the financing granted with public guarantees
given at a Group level, as well as the number of customers of both measures, as
of December 31, 2020 are as follows:</font></font><a name="XBRL_TS_0d448f281fc0407e9ca6660e1_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_006.2_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 lang=EN-US style="font-size:8.0pt;">Amount of
  payment deferral and financing with public guarantees as of December 31, 2020
  (Millions of Euros) </font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap valign=bottom width=12% 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 colspan=4 nowrap width=44% 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;">Payment deferral</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Financing with </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:8.0pt;">public guarantees</font></b></font></p>
  </td>
 <td width=11% style="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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:45.0pt;">
  <td width=12% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height: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;">Existing </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: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;">Completed</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: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=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Number of</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;customers&nbsp;</font></b></font></p>
  </td>
 <td width=11% 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=11% 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;">Number of</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;">customers</font></b></font></p>
  </td>
 <td width=11% 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;">Total </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;">Payment deferral and guarantees</font></b></font></p>
  </td>
 <td width=11% 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;">(%) credit investment</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Group </font></b></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;">6,803</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;">27,025</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;">33,828</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;">2,843,977</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;">18,619</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;">271,870</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;">52,446</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;">13.1%</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:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_49387771dada405382227c0ee"></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 amount of payment deferrals (existing and
completed) and financing granted with public guarantees given at a Group level,
broken down by segment, as of December 31, 2020 are as follows:</font></font><a name="XBRL_TS_49387771dada405382227c0ee_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_006.2bis_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 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 lang=EN-US style="font-size:8.0pt;">Amount of
  payment deferral and financing with public guarantees as of December 31, 2020
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=45% 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 lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 nowrap width=42% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Payment deferral</font></b></font></p>
  </td>
 <td rowspan=2 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;">Financing with</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;public guarantees</font></b></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=#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:12.75pt;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;">Existing </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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Completed</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=#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=45% style="background:#5AC4C4;border:none;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;">Group</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">6,803</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">27,025</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">33,828</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">18,619</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Customers</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;">4,657</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;">16,676</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;">21,333</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;">1,237</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: Mortgages</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:8.0pt;">3,664</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:8.0pt;">8,723</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:8.0pt;">12,387</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:7.0pt;">1</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">SMEs</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;">1,031</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;">5,056</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;">6,087</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;">11,373</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non-financial
  corporations</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;">1,055</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;">5,095</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;">6,150</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;">5,930</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other</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;">60</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;">198</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;">258</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;">79</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-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">
<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%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_006.3_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 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 lang=EN-US style="font-size:8.0pt;">Amount of
  payment deferral by stages as of December 31, 2020 (Millions of Euros)</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 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;">Stage 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;">Stage 2</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;">Stage 3</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;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% style="background:#5AC4C4;border:none;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;">Group</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">21,670</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">9,761</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,397</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">33,828</font></b></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;">Customers</font></font></p>
  </td>
 <td 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;">13,608</font></font></p>
  </td>
 <td 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;">5,920</font></font></p>
  </td>
 <td 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;">1,805</font></font></p>
  </td>
 <td 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;">21,333</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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: Mortgages</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;">8,310</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;">3,163</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;">914</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:7.0pt;">12,387</font></i></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;">SMEs</font></font></p>
  </td>
 <td 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;">4,326</font></font></p>
  </td>
 <td 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;">1,461</font></font></p>
  </td>
 <td 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;">299</font></font></p>
  </td>
 <td 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;">6,087</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;">Non-financial
  corporations</font></font></p>
  </td>
 <td 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;">3,495</font></font></p>
  </td>
 <td 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;">2,362</font></font></p>
  </td>
 <td 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;">293</font></font></p>
  </td>
 <td 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;">6,150</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;">Other</font></font></p>
  </td>
 <td 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;">240</font></font></p>
  </td>
 <td 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;">17</font></font></p>
  </td>
 <td 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 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;">258</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_3267b7cdf67548afb320fedf2"></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 payment
deferral measures for bank customers result in the temporary suspension, total
or partial, of the contractual obligations with a deferral for a specific
period of time. Considering that the payment deferrals granted in connection
with COVID-19 provide temporary relief to debtors and that the economic value
of the affected loans has not been significantly impacted, the payment deferral
measures granted have not been considered substantial contractual modifications
and, therefore, modified loans are accounted for as a continuation of the
originals. When a payment deferral does not generate interest collection
rights, a temporary loss of value is triggered for the transaction, which is
calculated as the difference between the current value of the original and the
modified cash flows, both discounted at the effective interest rate of the
original transaction. The difference is recognized at the initial time in the
income statement under the heading &#8220;Impairment or (reversal) of impairment on
financial assets not measured at fair value through profit or loss or net gains
by modification&#8221; in the balance sheet as a reduction of the asset value of the
loans. From that point on, said correction accrues as net interest income at
the original effective interest rate within the period of the payment deferral.
Thus, at the end of the moratorium period, the impact on net attributed profit
is basically neutral.</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &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%;">As of December 31, 2020, the
temporary value loss of the payment deferral included in the consolidated
income statements amounted to &#8364;304 million, from which &#8364;300 million have
already been recognized as a higher interest margin as of that date.</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 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:11.5pt;">Regarding the classification of exposures according to their
credit risk, the Group has maintained a rigorous application of IFRS 9 when
granting the payment deferrals and has reinforced the procedures for monitoring
credit risk both throughout the life of the transactions and at their maturity.</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 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:11.5pt;">This means that the payment deferrals granting does not imply in
itself an automatic trigger for a significant increase in 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:11.5pt;">and
that the transactions subject to the payment deferrals are initially classified
in the stage they had previously, unless, based on their risk profile, they
should be classified in a worse stage. On the other hand, as evidence of
payment has ceased to exist or has been reduced, the Group </font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:11.5pt;">has introduced additional indicators or segmentations to
identify the significant increase in credit risk that may have occurred in some
transactions or a set of them and, where appropriate, </font><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:11.5pt;">it has been
classified in Stage 2. </font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:11.5pt;">Furthermore, the indications
provided by the European Banking Authority (EBA) have been taken into account
to not </font><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:11.5pt;">consider forbearance the </font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:11.5pt;">payment
deferrals that meet a series of requirements. All this without prejudice to
maintaining its consideration as a forbearance if it was previously qualified
as such or classifying the exposure in the corresponding stage previously
stated. </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 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:11.5pt;">On the other hand, 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:11.5pt;">treatment planned for the
payment deferrals that expire and may require additional support will be in
accordance with the updated evaluation of </font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:11.5pt;">the
customer's credit quality and the characteristics of the solution granted. If
applicable, they will be treated as </font><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:11.5pt;">Refinancing or Restructuring as </font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:11.5pt;">described in Note 7.2.7 of the Financial Statements.</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 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:11.5pt;">Regarding public support for the loans&#8217; lending, it does not
affect the evaluation of the significant increase in risk since it is valued
through the credit quality of the instrument. However, in estimating the
expected loss, the existence of the guarantor implies a possible reduction in
the level of provisions necessary since, for the hedged part, the loss that
would be incurred in the foreclosure of the guarantee is taken into account.</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 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:11.5pt;">The public guarantees granted in the different geographies in
which the Group operates have been considered as an integral part of the terms
and conditions of the loans granted under the consideration that the guarantees
are granted at the same time that the financing is granted to the client and in
a way inseparable from it.</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;"><a name="_Toc376949908"></a><a name="_Toc376972316"></a></h3>
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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-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>

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;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;">7.2.1. Measurement of Expected Credit Loss (ECL)</font></b></font></h3>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 (ECL) of a financial instrument in a way
that reflects an unbiased estimation removing any conservatism or optimism,
including the time value of money and a forward-looking perspective (including
the economic forecast), all this based on the information that is available at
a certain point in time and that is reasonable and bearable with respect to
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%;">Therefore, the
recognition and measurement of expected credit losses is highly complex and
involves the use of significant analysis and estimation including formulation
and incorporation of forward-looking economic conditions into the ECL 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;">The
modeling of the ECL calculation is subject to a governance system that is
common to the entire Group. Within this common framework, each geography makes
the necessary adaptations to capture its particularities. The methodology,
assumptions and observations used by each geography are reviewed annually, and
after a validation and approval process, the outcome of this review is
incorporated into the ECL calculations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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;">Risk parameters by homogeneous groups</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;">Expected losses can be estimated both individually and
collectively. Regarding the collective estimate, the instruments are
distributed in homogeneous groups (segments) that share similar risk characteristics.
Following the guidelines established by the Group for the development of models
under IFRS 9, each geography performs the grouping based on the information
available, its representativeness or relevance and compliance with the
necessary statistical requirements.</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;">Depending on the portfolio or the parameter being estimated, one
risk driver or another will apply and different segments will reflect
differences in PDs and LGDs. Thus, in each segment, changes in the level of
credit risk will respond to the impact of changing conditions on the common
range of credit risk drivers. The effect on the group&#8217;s credit risk in response
to changes in forward-looking information will be considered as well.
Macroeconomic modeling for each segment is carried out using some of the shared
risk characteristics.</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;">These segments share credit risk characteristics such that changes
in credit risk in a part of the portfolio are not concealed by the performance
of other parts of the portfolio. In that sense, the methodology developed for
ECL estimation indicates the risk drivers that have to be taken into account
for PD segmentation purposes, depending on whether the estimation is for retail
or wholesale portfolios.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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;">As an example of the variables that can be taken into
consideration to determine the final models, the following stand out:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=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%;">PD - Retail: Contractual residual
maturity, credit risk scoring, type of product, days past due, forbearance,
time on books, time to maturity, nationality of the debtor, sale channel,
original term, indicator of credit card activity, percentage of initial drawn
balance.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">PD - Wholesale: Credit Risk Rating,
type of product, watch-list level, forbearance (client), time to maturity,
industry sector, updated balance (y/n), written off, grace 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=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%;">LGD &#8211; retail: credit Risk Scoring,
segment, type of product, secured / unsecured, type of collateral, sales
channel, nationality, business area, debtor&#8217;s commercial segment, forbearance
(account) EAD (this risk driver could be correlated with the time on books or
the LTV so, before including it, an assessment should be done in order to avoid
a double counting effect), time on default of the account (for defaulted
exposures), geographical location.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">LGD - wholesale: credit Risk
Rating, geographical location, segment, type of product, secured / Unsecured,
type of collateral, business area, forbearance (client), debtor&#8217;s commercial
segment time on default of the deal (for defaulted exposures).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">CCF: wholesale/retail, percentage
of initial drawn balance, debtor&#8217;s commercial segment, days past due,
forbearance, credit limit activity, time on books.</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%;">In the BBVA Group, the
expected losses calculated are based on the internal models developed for all
the Group's portfolios, unless clients are subject to individualized estimates.</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%;">Exposures with other
credit institutions, sovereign debt or with public administrations are
characterized by a low number of defaults, so the Group's historical bases do
not contain sufficiently representative information to build impairment models
based on them. However, there are external sources of information that, based
on broader observations, are capable of providing the necessary inputs to
develop models of expected losses. Therefore, based on the rating assigned to
these exposures and taking into account the inputs obtained from these sources,
the calculations of expected losses are developed internally, including their
projection based on the macroeconomic perspectives.</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%;">Individual estimation
of expected credit losses</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 Group periodically
and individually reviews the situation and credit rating of its customers,
regardless of their classification, taking into consideration the information
deemed necessary to do so. It also has procedures in place within the risk
management framework to identify the factors that may lead to increased risk
and, consequently, to a greater need for provisions.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font 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 model established by
the Group consists of continuously monitoring the risks to which it is exposed,
which guarantees their proper classification in the different categories of
IFRS 9. The original analysis of the exposures is reviewed through the
procedures for updating the rating tools (rating and scoring), which
periodically review the financial situation of clients, influencing the classification
by stages of exposures.</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>

</DIV>
</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">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 this
credit risk management framework, the Group has procedures that guarantee the
review, at least annually, of all its wholesale counterparties through the
so-called financial programs, which include the current and proposed
positioning of the Group with the customer in terms of credit risk. This review
is based on a detailed analysis of the client's up-to-date financial situation,
which is complemented by other information available in relation to individual
perspectives on business performance, industry trends, macroeconomic prospects
or other public data. As a result of this analysis, the preliminary rating of
the client is obtained, which, after undergoing the internal procedure, can be
revised down if deemed appropriate (for example, general economic environment
or evolution of the sector). These factors in addition to the information that
the client can provide are used to review the ratings even before the scheduled
financial plan reviews are conducted if circumstances warrant.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 Group has
established procedures to identify wholesale customers in the internal Watch
List category, which is defined as that risk in which, derived from an
individualized credit analysis, an increase in credit risk is observed, either
due to economic or financial difficulties or because they have suffered, or are
expected to suffer, adverse situations in their environment, without meeting
the criteria for classification as impaired risk. Under this procedure, all a
customer's Watch List exposures are considered Stage 2 regardless of when they
originated, if as a result of the analysis the customer is considered to have
significantly increased 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%;">Finally, the Group has so-called
Workout Committees, both local and corporate, which analyze not only the
situation and evolution of significant clients in Watch List and doubtful
situations, but also those significant clients in which, without having still
rated on Watch List, they may present some Stage 2 rated exposure for a
quantitative reason (PD comparison from origination). This analysis is carried
out in order to decide if, derived from this situation, all the client's
exposures should be considered in the Watch List category, which would imply
the migration of all the client's operations to Stage 2 regardless of the date
on which they originated.</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%;">With this,
the Group supports an individualized review of the credit quality of its
wholesale counterparties, identifying the situations in which a change in the
risk profile of these clients may have occurred and proceeding, where
appropriate, to estimate individualized credit losses.</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Along with this review, the Group individually estimates the
expected losses of those clients whose total exposure exceeds certain
thresholds, including those that part of their operations may be classified in
stage 1 and part in stage 2. In setting thresholds, each geography determines
the minimum amount of a client's exposure whose expected losses must be
estimated individually taking into account the following:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:38.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size: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%;">For clients with exposures in stage
3. The analysis of clients with total risk above this threshold implies
analyzing at least 40% of the total risk of the wholesale portfolio in stage 3.
Although the calibration of the threshold is done on the wholesale portfolio,
clients of other portfolios must be analyzed if they exceed the threshold,
staying in Stage 3.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:38.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size: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%;">For all other situations. The
analysis of clients with total risk above this threshold implies analyzing at
least 20% of the total risk of the Watch List wholesale portfolio. Although the
threshold calibration is carried out on the exposure classified as Watch List,
wholesale clients or clients belonging to other portfolios that have exposures
classified in stage 2 and whose total exposure exceeds the mentioned threshold
must be analyzed individually, considering both the exposures classified in
stage 1 as in stage 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%;">Regarding the methodology for the
individual estimation of expected losses, it should be mentioned, firstly, that
these are measured as the difference between the asset&#8217;s carrying amount and
the estimated future cash flows discounted at the financial asset&#8217;s effective
interest</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:-14.2pt;"><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 estimated recoverable amount should correspond to the amount
calculated under the following method:</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 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 present value
of estimated future cash flows discounted at the financial asset&#8217;s original
effective interest rate; and </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 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 estimation of
the recoverable amount of a collateralized exposure reflects the cash flows
that may result from the liquidation of the collateral.</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
estimated future cash flows depend on the type of approach applied, which can
be:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:42.55pt;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%;">Going concern scenario: when the
entity has updated and reliable information about the solvency and ability of
payment of the holders or guarantors. The operating cash flows of the debtor,
or the guarantor, continue and can be used to repay the financial debt to all
creditors. In addition, collateral may be exercised to the extent it does not
influence operating cash flows. The following aspects should be taken into
account:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">Future operating cash flows should
be based on the financial statements of the debtor.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">When the projections made on these
financial statements assume a growth rate, a constant or decreasing growth rate
must be used over a maximum growth period of 3 to 5 years, and subsequently
constant cash flows</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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 growth rate should be based on
the analysis of the evolution of the debtor's financial statements or on a
sound and applicable business restructuring plan, taking into account the resulting
changes in the structure of the company (for example, due to divestments or the
interruption of unprofitable lines of business).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">(Re)-investments that are needed to
preserve cash flows should be considered, as well as any foreseeable future
cash-flow changes (e.g. if a patent or a long-term loan expires).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">When the recoverability of the
exposure relies on the realization of the disposal of some assets by the
debtor, the selling price should reflect the estimated future cash flows that
may result from the sale of the assets less the estimated costs associated with
the disposal.</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-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>

</DIV>
</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">
<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 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%;">Gone
concern scenario: when the entity does not have updated and reliable
information, it should consider that the estimation of loan receivable flows is
of high uncertainty. Estimation should be carried out through the estimation of
recoverable amounts from the effective real guarantees received. It will not be
admissible as effective guarantees, those whose effectiveness depends
substantially on the creditworthiness of the debtor or economic group in which
it takes part. Under a gone concern scenario, the collateral is exercised and
the operating cash flows of the debtor cease. This could be the case if:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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 exposure has been past due for
a long period. There is a rebuttable presumption that the allowance should be
estimated under a gone concern criterion when arrears are greater than 18
months. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">Future operating cash flows of the
debtor are estimated to be low or negative. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">Exposure is significantly
collateralized, and this collateral is central to cash-flow generation </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">&#160;There is a significant degree of
uncertainty surrounding the estimation of the future cash flows. This would be
the case if the earnings before interest, taxes, depreciation and amortization
(EBITDA) of the two previous years had been negative, or if the business plans
of the previous years had been flawed (due to material discrepancies in the
back-testing)</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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%;">&#160;Insufficient information is
available to perform a going concern analysis</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%;">Significant
increase in credit 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%;">As indicated in Note 2.2, the
criteria for identifying the significant increase in risk are applied
consistently throughout the Group, distinguishing between quantitative reasons
or by comparison of probabilities of default and qualitative reasons (more than
30 days of default, watch list consideration or non-impaired refinancing).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 credit risk, the Group
uses all relevant information that is available and that may affect the credit
quality of the exposures. This information may come mainly from the internal
processes of admission, analysis and monitoring of operations, from the
strategy defined by the Group regarding the price of operations or distribution
by geographies, products or sectors of activity, from the observance of the
macroeconomic environment, from market data such as interest rate curves, or
prices of the different financial instruments, or from external sources of
credit rating.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 set of information is the
basis for determining the rating and scoring (see note 7.1.4 for more information
on rating and scoring systems) corresponding to each of the exposures and which
are assigned a probability of default (PD) that, as already mentioned, it
undergoes an annual review process that assesses its representativeness
(backtesting) and is updated with new observations. Furthermore, the projection
of these PDs over time has been modeled based on macroeconomic expectations,
which allows obtaining the probabilities of default throughout the life of the
operations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 this common methodology,
and in accordance with the provisions of IFRS 9 and the EBA guidelines on
credit risk management practices (EBA / GL / 2017/06), each geography has
established absolute and relative thresholds for identifying whether the
expected changes in the probabilities of default have increased significantly
compared to the initial moment, adapted to the particularities of each one of
them in terms of origination levels, product characteristics, distribution by
sectors or portfolios, and macroeconomic situation. To establish the
aforementioned thresholds, a series of general principles are considered, such
as:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top: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%;">Uniformity:
Based on the rating and scoring systems that, in a homogeneous manner, are
implemented in the Group's units.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top: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%;">&#160;Stability:
The thresholds must be established to identify the significant increase in risk
produced in exposures since their initial recognition and not only to identify
those situations in which it is already foreseeable that they will reach the
level of impairment. For this reason, it is to be expected that of the total
exposures there will always be a representative group for which said increased
risk is identified.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top: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%;">&#160;Anticipation:
The thresholds must consider the identification of the increased risk in
advance with respect to the recognition of the exposures as impaired or even
before a real default occurs. The calibration of the thresholds should minimize
the cases in which the instruments are classified in stage 3 without having
previously been recognized as stage 2.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top: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%;">&#160;Indicators
or metrics: It is expected that the classification of the exposures in stage 2
will have sufficient permanence to allow them to develop an anticipatory
management of them before, where appropriate, they end up migrating to stage 3.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top: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%;">&#160;Symmetry:
IFRS 9 provides for a symmetric treatment both to identify the significant
increase in risk and to identify that it has disappeared, so the thresholds
also work to improve the credit classification of exposures. In this sense, it
is expected that the cases in which the exhibitions that improve from stage 3
are directly classified into stage 1 will be minimal.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The identification of the
significant increase in risk from the comparison of the probabilities of
default should be the main reason why exposures in stage 2 are recognized.</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-56</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_297"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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%;">Specifically, a contract will be transferred to stage 2 when the
following two conditions are met by comparing the current PD values and the
origination PD values:</font></font><a name="XBRL_TS_3267b7cdf67548afb320fedf2_bclEnd"></a></p>

<p align=center 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:center;"><font face=BBVABentonSansLight style="border:none;"><img border=0 height=28 id="Imagen 1" src="d20f2020x296x0.jpg" width=268></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top: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%;">Current PD &#8211; Origination PD&gt;
Absolute threshold (pbs)</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_620afcb8426c475d9eed65af6"></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 absolute and relative thresholds are consistently
established for each geography and for each portfolio, taking into account
their particularities and based on the principles described. The thresholds set
by each geography are included within the annual review process and, generally,
are in the range of 30% to 250% for the relative threshold and from 10 to 150
basis points for the absolute threshold.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The establishment of absolute and
relative thresholds, as well as their different levels, comply with the
provisions of IFRS 9 when it indicates that a certain change, in absolute
terms, in the risk of a default will be more significant for a financial
instrument with a lower initial risk of default compared to a financial
instrument with higher initial risk of default.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">For existing contracts before the
implementation of IFRS 9, given the limitations in the information available on
them, the thresholds are calibrated based on the PDs obtained from the
prudential or economic models for calculating capital.</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 Group 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 Group&#180;s methodological approach in order to incorporate the
forward looking information aims to determine the relation between
macroeconomic variables and risk parameters following three main steps:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;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 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%;">Step 1: Analysis and transformation
of time series data.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;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 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%;">Step 2: For each dependent variable
find conditional forecasting models that are economically consistent.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;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 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%;">Step 3: Select the best conditional
forecasting model from the set of candidates defined in Step 2, based on their
forecasting capacity.</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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 net income of families,
corporates or public administrations.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;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 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 outstanding payment amounts on
the principal and interest on the 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=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 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 Group, 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">For each of the macro-financial
variables, BBVA Research produces three scenarios. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;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 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 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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 Group 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. This effect is calculated taking into account the weighted
weight of the expected loss determined for each scenario.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 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 On the other hand, the BBVA Group also takes into
account the range of possible scenarios when defining its significant increase
in credit risk. Thus, the PDs used in the quantitative process to identify the
significant increase in credit risk will be those that result from making a weighted
average of the PDs calculated under the three scenarios.</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;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Macroeconomic scenarios as a result of the COVID-19 pandemic</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;line-height:115%;">The COVID-19 pandemic has generated a macroeconomic uncertainty
situation with a direct impact on credit risk of the entities, particularly, on
the expected credit losses under IFRS 9. Even though the situation is unclear
and of an unforeseeable time length, the expectation is that this situation
will provoke a severe recession followed by an economic recovery, which will
not achieve the pre-crisis GDP levels in the short-term, supported by the
measures issued by governments and monetary authorities.</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;line-height:115%;">This situation has allowed the
accounting authorities and the banking supervisors to adopt measures in order
to mitigate the impacts that this crisis could imply on the calculation of
expected credit losses under IFRS 9 as well as on solvency, urging:</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%;">the entities </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%;">to evaluate all the available information, weighing more the
long-term forecasts against the short-term economic situation</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%;">the governments to adopt measures
to avoid the effects of impairment,</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%;">the entities to develop managerial
measures as the design of specific products adapted to the situation which
could occur during this crisis.</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;line-height:115%;">Almost all accounting and prudential authorities have issued
recommendations or measures within the COVID-19 crisis framework regarding the
estimation of the expected losses under IFRS 9 in a coordinated manner.</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-58</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_299"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left: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 common denominator of all
of these recommendations is that, given the difficulty of establishing reliable
macroeconomic forecasts, the transitory term of the economic shock and the need
to incorporate the effect of the mitigating measures issued by the governments,
a review of the automatic application of the models in order to increase the
weight of the long-term macroeconomic forecasts in the calculation of the
expected losses is needed. As a result thereof, the expected outcome over the
lifetime of the transactions will have more weight than the short-term
macroeconomic impact.</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;line-height:115%;">In this respect, the BBVA Group has taken into account those
recommendations in the calculation of the expected credit losses under IFRS 9,
considering that the economic situation caused by the COVID-19 pandemic is
transitory and will be followed by a recovery, even if there is uncertainty
over the level and the time period of such recovery. As a consequence,
different scenarios have been taken into consideration in the calculation of
expected losses, resulting in the model management believes suits best the
current economic situation and the combined recommendations issued by the
authorities. In addition to the outcome of the calculation of the scenarios,
individual analysis of exposures which could be most affected by the
circumstances caused by the COVID-19, have been taken into account.</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 estimate for the next five years of the Gross Domestic Product
(GDP), of the variation in the unemployment rate and of the House Price Index
(HPI), for the most relevant countries where it represents a significant
factor, is determined by BBVA Research and it has been used at the time of the
calculation of the expected credit loss as of December 31, 2020:</font></font><a name="XBRL_TS_620afcb8426c475d9eed65af6_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_SMSR_favorable1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 nowrap valign=bottom 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 lang=EN-US style="font-size:6.0pt;">Positive
  scenario of GDP, unemployment rate and HPI for the main geographies</font></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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 nowrap width=33% 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;">Spain</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=33% 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;">Mexico</font></b></font></p>
  </td>
 <td colspan=2 nowrap 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;">Turkey</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=#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:12.75pt;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</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:12.75pt;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;">Unemployment</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:12.75pt;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;">HPI</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:6.0pt;">GDP</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:6.0pt;">Unemployment</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:6.0pt;">HPI</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:6.0pt;">GDP</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:6.0pt;">Unemployment</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2020</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;">(11.20%)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">16.44%</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;">(1.44%)</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;">(8.85%)</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;">4.57%</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;">1.71%</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;">2.07%</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;">13.45%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2021</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">6.63%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">16.03%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.40%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(1.23%)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">9.08%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;">
  <td nowrap 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:6.0pt;">2022</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">6.27%</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:6.0pt;">12.72%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.80%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.17%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.30%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11.58%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2023</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2.95%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">10.82%</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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.79%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.62%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.04%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">0.31%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4.13%</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:6.0pt;">11.58%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2024</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">9.58%</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:6.0pt;">3.66%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.47%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.01%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4.11%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11.19%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2025</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">8.55%</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:6.0pt;">3.57%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.47%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4.76%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.72%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4.10%</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:6.0pt;">10.85%</font></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:200%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_SMSR_favorable2_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=7 nowrap valign=bottom width=100% style="background:#E9E9E9;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <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 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 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=#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=2 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=#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=2 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=#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:12.75pt;">
  <td width=15% 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:6.0pt;">Date</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:6.0pt;">GDP</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Unemployment</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:6.0pt;">GDP</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:6.0pt;">Unemployment</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:6.0pt;">GDP</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:6.0pt;">Unemployment</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=15% 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;">2020</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:6.0pt;">(11.74%)</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:6.0pt;">12.75%</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:6.0pt;">(10.64%)</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:6.0pt;">13.60%</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:6.0pt;">(6.80%)</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:6.0pt;">18.14%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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:6.0pt;">12.56%</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:6.0pt;">10.29%</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:6.0pt;">9.95%</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:6.0pt;">14.39%</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:6.0pt;">6.80%</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:6.0pt;">16.14%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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:6.0pt;">5.25%</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:6.0pt;">10.00%</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:6.0pt;">3.52%</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:6.0pt;">11.88%</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:6.0pt;">3.70%</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:6.0pt;">14.53%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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:6.0pt;">3.68%</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:6.0pt;">8.73%</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:6.0pt;">2.08%</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:6.0pt;">8.99%</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:6.0pt;">3.15%</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:6.0pt;">14.28%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2024</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:6.0pt;">3.58%</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:6.0pt;">7.23%</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:6.0pt;">2.11%</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:6.0pt;">7.69%</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:6.0pt;">3.27%</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:6.0pt;">12.49%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2025</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:6.0pt;">3.35%</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:6.0pt;">6.88%</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:6.0pt;">2.14%</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:6.0pt;">6.78%</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:6.0pt;">3.60%</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:6.0pt;">12.28%</font></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:200%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_SMSR_002_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 nowrap valign=bottom 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 lang=EN-US style="font-size:6.0pt;">Estimate of
  GDP, unemployment rate and HPI for the main geographies</font></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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 nowrap width=33% 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;">Spain</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=33% 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;">Mexico</font></b></font></p>
  </td>
 <td colspan=2 nowrap 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;">Turkey</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=#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:12.75pt;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</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:12.75pt;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;">Unemployment</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:12.75pt;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;">HPI</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:6.0pt;">GDP</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:6.0pt;">Unemployment</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:6.0pt;">HPI</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:6.0pt;">GDP</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:6.0pt;">Unemployment</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2020</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;">(11.48%)</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;">16.95%</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;">(1.98%)</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;">(9.25%)</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:6.0pt;">4.62%</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;">1.81%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(0.01%)</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;">13.98%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2021</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.99%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">17.51%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(5.08%)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.71%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.57%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(1.32%)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.52%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">14.05%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2022</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">6.04%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">14.35%</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:6.0pt;">3.48%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.53%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.35%</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:6.0pt;">0.15%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4.53%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">12.58%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2023</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2.93%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">12.41%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.44%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.55%</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:6.0pt;">5.19%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">0.31%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4.01%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11.95%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2024</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11.14%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.20%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.45%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.03%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.02%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.99%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11.38%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2025</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">9.99%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.12%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.46%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4.88%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.98%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11.03%</font></font></p>
  </td>
 </tr>
</table></div>



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<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_SMSR_002.2_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=7 nowrap valign=bottom width=100% style="background:#E9E9E9;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 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=#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=2 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=#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=2 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=#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:12.75pt;">
  <td width=15% 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:6.0pt;">Date</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:6.0pt;">GDP</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:6.0pt;">Unemployment</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:6.0pt;">GDP</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:6.0pt;">Unemployment</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:6.0pt;">GDP</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:6.0pt;">Unemployment</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=15% 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;">2020</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:6.0pt;">(13.04%)</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:6.0pt;">12.80%</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:6.0pt;">(13.00%)</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:6.0pt;">13.98%</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:6.0pt;">(7.51%)</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:6.0pt;">18.23%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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:6.0pt;">10.05%</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:6.0pt;">10.48%</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:6.0pt;">5.54%</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:6.0pt;">15.40%</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:6.0pt;">5.48%</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:6.0pt;">16.40%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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:6.0pt;">4.52%</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:6.0pt;">10.23%</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:6.0pt;">2.54%</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:6.0pt;">12.80%</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:6.0pt;">3.46%</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:6.0pt;">14.83%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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:6.0pt;">3.69%</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:6.0pt;">8.93%</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:6.0pt;">1.98%</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:6.0pt;">9.60%</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:6.0pt;">3.15%</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:6.0pt;">14.57%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2024</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:6.0pt;">3.58%</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:6.0pt;">7.41%</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:6.0pt;">1.98%</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:6.0pt;">8.18%</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:6.0pt;">3.27%</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:6.0pt;">12.78%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2025</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:6.0pt;">3.35%</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:6.0pt;">7.06%</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:6.0pt;">2.01%</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:6.0pt;">7.28%</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:6.0pt;">3.60%</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:6.0pt;">12.55%</font></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:200%;"></font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_SMSR_desfavorable1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 nowrap valign=bottom 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 lang=EN-US style="font-size:6.0pt;">Negative
  scenario of GDP, unemployment rate and HPI for the main geographies</font></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=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=33% 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;">Spain</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=33% 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;">Mexico</font></b></font></p>
  </td>
 <td colspan=2 nowrap 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;">Turkey</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=#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:12.75pt;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</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:6.0pt;">Unemployment</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:6.0pt;">HPI</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:6.0pt;">GDP</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:6.0pt;">Unemployment</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:6.0pt;">HPI</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:6.0pt;">GDP</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:6.0pt;">Unemployment</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2020</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;">(11.76%)</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;">17.44%</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;">(2.60%)</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;">(9.64%)</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;">4.67%</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;">1.89%</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;">(2.10%)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">14.49%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2021</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.37%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">18.94%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(6.69%)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2.84%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.75%</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:6.0pt;">(1.48%)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.75%</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:6.0pt;">15.51%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2022</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.82%</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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">15.92%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2.49%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.25%</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:6.0pt;">5.53%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.56%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">13.64%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2023</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2.88%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">13.99%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4.94%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.48%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.34%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">0.17%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.92%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">12.33%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2024</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">12.70%</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:6.0pt;">2.45%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.41%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.17%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">0.99%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.91%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11.56%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:6.0pt;">2025</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.97%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11.45%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2.36%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.41%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.02%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.70%</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:6.0pt;">3.91%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11.20%</font></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:200%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_SMSR_desfavorable2_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=7 nowrap valign=bottom width=100% style="background:#E9E9E9;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 nowrap 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:6.0pt;">Peru</font></b></font></p>
  </td>
 <td colspan=2 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=#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=2 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=#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:12.75pt;">
  <td width=14% 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:6.0pt;">Date</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:6.0pt;">GDP</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:6.0pt;">Unemployment</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:6.0pt;">GDP</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:6.0pt;">Unemployment</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:6.0pt;">GDP</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:6.0pt;">Unemployment</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% 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;">2020</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:6.0pt;">(14.33%)</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:6.0pt;">12.85%</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:6.0pt;">(15.28%)</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:6.0pt;">14.34%</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:6.0pt;">(8.25%)</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:6.0pt;">18.31%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">2021</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:6.0pt;">7.53%</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:6.0pt;">10.69%</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:6.0pt;">0.89%</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:6.0pt;">16.38%</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:6.0pt;">4.16%</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:6.0pt;">16.66%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">2022</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:6.0pt;">3.78%</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:6.0pt;">10.48%</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:6.0pt;">1.33%</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:6.0pt;">13.69%</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:6.0pt;">3.16%</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:6.0pt;">15.10%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">2023</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:6.0pt;">3.69%</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:6.0pt;">9.15%</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:6.0pt;">1.86%</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:6.0pt;">10.19%</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:6.0pt;">3.15%</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:6.0pt;">14.84%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">2024</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:6.0pt;">3.57%</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:6.0pt;">7.62%</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:6.0pt;">1.83%</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:6.0pt;">8.63%</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:6.0pt;">3.27%</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:6.0pt;">13.04%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">2025</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:6.0pt;">3.35%</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:6.0pt;">7.27%</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:6.0pt;">1.86%</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:6.0pt;">7.75%</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:6.0pt;">3.60%</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:6.0pt;">12.80%</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: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:200%;">&nbsp;</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="XBRL_TS_3fa73632486148c38cbe54655"></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-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">
<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 estimate for the next five
years of the Gross Domestic Product (GDP), is determined by BBVA Research and
it has been used at the time of the calculation of the expected credit loss as
of December 31, 2019:</font></font><a name="XBRL_TS_3fa73632486148c38cbe54655_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_PIB2019_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=13 nowrap valign=bottom 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 lang=EN-US style="font-size:6.0pt;">GDP for the
  main geographies</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <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 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:12.75pt;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 colspan=3 nowrap 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:6.0pt;">Mexico</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=23% 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;">Turkey</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">United States</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=8% 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=#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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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-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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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-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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% 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:6.0pt;">GDP negative scenario</font></b></font></p>
  </td>
 <td width=7% 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:6.0pt;">GDP base scenario</font></b></font></p>
  </td>
 <td width=7% 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:6.0pt;">GDP positive scenario</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% 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;">2019</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;">0.96%</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;">1.54%</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;">2.15%</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;">(0.58%)</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;">0.23%</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;">1.06%</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;">(0.60%)</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;">3.32%</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:6.0pt;">7.06%</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:6.0pt;">1.16%</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:6.0pt;">2.12%</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:6.0pt;">3.13%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">5.27%</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;">1.00%</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;">1.81%</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;">2.62%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">4.91%</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;">1.84%</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;">1.92%</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;">2.03%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">4.47%</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;">1.83%</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;">1.86%</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;">1.91%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">4.50%</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;">1.88%</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;">1.91%</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;">1.94%</font></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:200%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_PIB2019CONT_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=10 nowrap valign=bottom 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 lang=EN-US style="font-size:6.0pt;">GDP for the
  main geographies</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <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 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=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:6.0pt;">Peru</font></b></font></p>
  </td>
 <td colspan=3 nowrap 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:6.0pt;">Argentina</font></b></font></p>
  </td>
 <td colspan=3 nowrap 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:6.0pt;">Colombia</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=10% 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=#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=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;">GDP negative scenario</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;">GDP base scenario</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;">GDP positive scenario</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;">GDP negative scenario</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;">GDP base scenario</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;">GDP positive scenario</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;">GDP negative scenario</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;">GDP base scenario</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;">GDP positive scenario</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% 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;">2019</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;">0.34%</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;">2.92%</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;">5.43%</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;">(7.41%)</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;">(2.47%)</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;">2.40%</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;">1.93%</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;">3.29%</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;">4.58%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">0.32%</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;">2.46%</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;">4.56%</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;">(6.62%)</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;">(2.57%)</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;">0.85%</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;">1.71%</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;">2.73%</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;">3.74%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">3.07%</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;">3.28%</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;">3.49%</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;">2.08%</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;">2.30%</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;">2.51%</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;">3.61%</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;">3.61%</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;">3.61%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">3.39%</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=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=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;">3.39%</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=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">3.86%</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;">3.86%</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;">3.86%</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;">1.95%</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;">2.10%</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:6.0pt;">2.23%</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:6.0pt;">3.59%</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;">3.59%</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;">3.59%</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_5ac31ff418e44d44a65cecc8d"></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%;">Sensitivity to macroeconomic 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%;">A sensitivity exercise has been
carried out on the expected losses due to variations in the key hypotheses as
they are the ones that introduce the greatest uncertainty in estimating such
losses. As a first step, GDP and House Prices have been identified as the most
relevant variables. These variables have been subjected to shocks of +/- 100
bps in their entire projection window. Independent sensitivities have been
assessed, under the assumption of assigning a 100% probability to each
determined scenario with these independent shocks.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Variation in provisions is
determined both by re-staging (that is: in worse scenarios due to the
recognition of lifetime credit losses for additional operations that are
transferred to stage 2 from stage1 where 12 months of losses are valued: or
vice versa in improvement scenarios) as well as variations in the collective
risk parameters (PD and LGD) of each financial instrument due to the changes
defined in the macroeconomic forecasts of the scenario.</font></font><a name="XBRL_TS_5ac31ff418e44d44a65cecc8d_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_SMSR_sensibilidad_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=15 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;">Expected loss
  variation</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 nowrap width=35% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">BBVA Group</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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 colspan=2 nowrap 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;">Spain</font></b></font></p>
  </td>
 <td nowrap width=6% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 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=#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 nowrap width=6% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 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=#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>
 </tr>
<tr style="height:22.5pt;">
  <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">GDP</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 Portfolio</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: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;">Retail</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: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><i><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Mortgages</font></i></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: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;">Wholesaler</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: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;">Fixed income</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 Portfolio</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Mortgages</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Companies</font></b></font></p>
  </td>
 <td width=6% 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;">Total Portfolio</font></b></font></p>
  </td>
 <td width=6% 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;">Mortgages</font></b></font></p>
  </td>
 <td width=6% 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;">Cards</font></b></font></p>
  </td>
 <td width=6% 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;">Total Portfolio</font></b></font></p>
  </td>
 <td width=6% 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;">Mortgages</font></b></font></p>
  </td>
 <td width=6% 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;">Cards</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=8% 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;">-100pb</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:6.0pt;">3.55%</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:6.0pt;">3.47%</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.72%</font></i></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:6.0pt;">3.91%</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:6.0pt;">1.58%</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:6.0pt;">3.72%</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:6.0pt;">4.39%</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:6.0pt;">3.96%</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3.91%</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2.20%</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">6.30%</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.56%</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.58%</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1.62%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">+100pb</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;">(3.25%)</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;">(3.14%)</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(3.03%)</font></i></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;">(3.69%)</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;">(1.97%)</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;">(3.32%)</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;">(3.57%)</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;">(3.53%)</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(3.64%)</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(5.78%)</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(1.47%)</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(1.55%)</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(1.47%)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=8% 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;">Housing price</font></b></font></p>
  </td>
 <td width=7% 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;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height: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 width=7% 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;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height: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 width=7% 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;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height: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 width=7% 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;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height: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 width=6% 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;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% 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;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% 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;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% 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;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% 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;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% 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;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=8% 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;">-100pb</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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:6.0pt;">5.41%</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:6.0pt;">0.79%</font></font></p>
  </td>
 <td nowrap width=6% 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=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=6% 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=6% 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=6% 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=6% 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>
 </tr>
<tr style="height:12.75pt;">
  <td width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">+100pb</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:8.0pt;">&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:8.0pt;">&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:8.0pt;">&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:8.0pt;">&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:8.0pt;">&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:8.0pt;">&nbsp;</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;">(5.35%)</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;">(0.77%)</font></font></p>
  </td>
 <td nowrap width=6% 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=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% 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=6% 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=6% 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=6% 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>
</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_132fb55bac2e4ab38445a2586"></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%;">Additional adjustments to expect loss measurement</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">In addition to what is described on
individualized and collective estimates of expected losses and macroeconomic
estimates, the Group may supplement the expected losses if it deems it
necessary to collect the effects that may not be included, either by
considering risk drivers or by the incorporation of sectorial particularities
or that may affect a set of operations or borrowers. These adjustments should
be temporary, until the reasons that motivated them disappear or materialize.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 expected
losses have been supplemented with additional amounts that have been considered
necessary to collect the particular characteristics of borrowers, sectors or
portfolios and that may not be identified in the general process. Of the supplementary
amounts recognized throughout the year, at the end of the year 2020, 244
million euros are pending allocation to specific borrowers, of which 223
million euros are located in Spain (mainly 57 million euros based on the volume
of arrears pending maturity and whose behavior pattern is still subject to
uncertainty, 127 million euros in sectors most affected by the pandemic and 40
million euros as a complement to the individualized analyzes) and 21 million
euros in the United States in relation to the uncertainty of the Oil &amp; Gas
sector.
</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>
<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-61</font></font><font 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_302"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;">7.2.2. Credit risk exposure</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%;">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, 2020, 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_132fb55bac2e4ab38445a2586_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_EXP_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=6 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 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=45% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC 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=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:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&#160;2020&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;">Stage 1</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;">Stage 2</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;">Stage 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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;"><b><font color=black 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:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">68,075</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Debt securities</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">23,970</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">11,458</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">32,647</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% 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=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=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">5,198</font></b></font></p>
  </td>
 <td width=11% 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=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="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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% 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=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:10.5pt;">
  <td width=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">709</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Debt securities</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">356</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">4,133</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% 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=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">12</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1,117</font></b></font></p>
  </td>
 <td width=11% 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=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="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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% 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=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:10.5pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">46,302</font></b></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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 width=45% 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=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=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">69,537</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;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=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=#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=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Debt securities</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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=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:7.0pt;">68,404</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">67,995</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">410</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,100</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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=#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=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:7.0pt;">379,857</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">334,552</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">30,607</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">14,698</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Loans and
  advances to central banks</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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: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;">6,229</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">6,229</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">14,591</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">14,565</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">20</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">323,252</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">277,998</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">30,581</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">14,672</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Debt securities</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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=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:7.0pt;">35,785</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">35,759</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">6</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">20</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="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=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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">570,084</font></b></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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 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=#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 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=#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:10.5pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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=#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=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:7.0pt;">179,440</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">165,726</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">12,682</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">1,032</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loan commitments
  given</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">132,584</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">124,104</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">8,214</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">265</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial guarantees
  given</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10,665</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">9,208</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,168</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">290</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Other commitments
  given</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">36,190</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">32,414</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3,300</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">477</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">749,524</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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>



<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;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-62</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_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;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=45% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC 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=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:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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;">Stage 1</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;">Stage 2</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;">Stage 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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;"><b><font color=black 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:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:10.5pt;">
  <td width=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Debt securities</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">26,309</font></font></p>
  </td>
 <td 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">8,892</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">34,303</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% 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=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=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">5,557</font></b></font></p>
  </td>
 <td width=11% 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=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="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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% 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=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:10.5pt;">
  <td width=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,120</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Debt securities</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">110</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">4,327</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% 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=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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:7.0pt;">12</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=11% 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=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="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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% 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=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:10.5pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</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 2.0pt 0cm 2.0pt;">
  <p style="border: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=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=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">61,293</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;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=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=#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=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Debt securities</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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=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:7.0pt;">58,841</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">58,590</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">250</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">2,420</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Loans and advances
  to credit institutions</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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=#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=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:7.0pt;">451,640</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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:7.0pt;">33,624</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Loans and
  advances to central banks</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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: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=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:7.0pt;">4,285</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">13,500</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">158</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">345,449</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33,360</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">15,954</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Debt securities</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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=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:7.0pt;">38,930</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">38,790</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">106</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="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=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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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=#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=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:7.0pt;">181,116</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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:7.0pt;">10,452</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loan commitments
  given</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">130,923</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">123,707</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">6,945</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">270</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial guarantees
  given</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10,984</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">9,804</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">955</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">224</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Other commitments
  given</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">39,209</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">36,151</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">2,552</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">506</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=45% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=11% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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>



<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;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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_304"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<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;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=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 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: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=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;">December 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;">Stage 1</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;">Stage 2</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;">Stage 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% 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=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;"><b><font color=black 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:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% 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=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:7.0pt;">10</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">25,577</font></font></p>
  </td>
 <td 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=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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=44% 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=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">5,254</font></font></p>
  </td>
 <td 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=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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=44% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">28,750</font></font></p>
  </td>
 <td 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=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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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 width=44% 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=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">5,135</font></b></font></p>
  </td>
 <td width=12% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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="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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:10.5pt;">
  <td width=44% 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=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:7.0pt;">11</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,803</font></font></p>
  </td>
 <td 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=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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=44% 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=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">237</font></font></p>
  </td>
 <td 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=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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=44% 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=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3,095</font></font></p>
  </td>
 <td 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=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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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 width=44% 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=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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:7.0pt;">12</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=#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=12% 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=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="height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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 width=11% 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=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:10.5pt;">
  <td width=44% 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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=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=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="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:23.25pt;">
  <td width=44% 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=11% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=12% 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=11% 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=11% 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 width=44% 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=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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">53,737</font></font></p>
  </td>
 <td 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:7.0pt;">53,734</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% 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=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">2,595</font></font></p>
  </td>
 <td 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=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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=44% 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=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td 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:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% 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=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=#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=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:7.0pt;">431,927</font></b></font></p>
  </td>
 <td 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:7.0pt;">384,632</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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:7.0pt;">16,394</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% 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=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 lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3,947</font></font></p>
  </td>
 <td 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:7.0pt;">3,947</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% 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=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 lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">9,175</font></font></p>
  </td>
 <td 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:7.0pt;">9,131</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">34</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% 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=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 lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">386,225</font></font></p>
  </td>
 <td 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:7.0pt;">339,204</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">30,673</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">16,348</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% 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=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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">32,580</font></font></p>
  </td>
 <td 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:7.0pt;">32,350</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">195</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">35</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% style="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=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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=44% 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=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=#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=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:7.0pt;">170,511</font></b></font></p>
  </td>
 <td 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:7.0pt;">161,404</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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:7.0pt;">987</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% 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;">Loan commitments
  given</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">118,959</font></font></p>
  </td>
 <td 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:7.0pt;">113,403</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">5,308</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">247</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% 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;">Financial guarantees
  given</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">16,454</font></font></p>
  </td>
 <td 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:7.0pt;">14,902</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,220</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">332</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% 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;">Other commitments
  given</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">35,098</font></font></p>
  </td>
 <td 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:7.0pt;">33,099</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,591</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">408</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=44% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=12% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="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;line-height:115%;">The maximum credit exposure
presented in the table above is determined by type of financial asset as
explained below:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;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 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 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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, 2020, 2019 and 2018 is shown below:</font></font><a name="XBRL_TS_661929c45d354b85ac03184b5_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_PROV_AREAS_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=13 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 style="font-size:7.0pt;">December 2020
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom width=14% style="height:9.0pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=29% 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;">Gross exposure</font></b></font></p>
  </td>
 <td colspan=4 width=28% 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;">Accumulated allowances</font></b></font></p>
  </td>
 <td colspan=4 width=29% 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;">Carrying amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=14% 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=#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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=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=#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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:9.0pt;">
  <td nowrap valign=bottom width=14% style="border:none;height:9.0pt;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;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Spain (*)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">195,983</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">171,397</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">16,387</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;">8,199</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(5,679)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(753)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(849)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(4,077)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">190,304</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">170,644</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;">15,538</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">4,122</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom width=14% style="height:9.0pt;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;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Mexico</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;">52,211</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;">46,373</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;">4,071</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,767</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;">(2,211)</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;">(685)</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;">(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;">(1,083)</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;">50,000</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;">45,688</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3,628</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;">684</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom width=14% style="height:9.0pt;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;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Turkey (**)</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;">39,633</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;">30,832</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;">5,806</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">2,995</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;">(2,338)</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;">(246)</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;">(535)</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;">(1,557)</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;">37,295</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;">30,586</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:7.0pt;">5,272</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;">1,438</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom width=14% style="height:9.0pt;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;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">South America (***)</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;">34,499</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;">28,484</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;">4,312</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,703</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;">(1,870)</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;">(320)</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;">(460)</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;">(1,090)</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;">32,629</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;">28,165</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <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;">612</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom width=14% style="height:9.0pt;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;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Others </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;">925</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;">912</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;">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:7.0pt;">8</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;">(7)</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)</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;">-</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;">(6)</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;">918</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;">911</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=14% style="background:#5AC4C4;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=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">323,252</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">277,998</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">30,581</font></b></font></p>
  </td>
 <td width=8% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">14,672</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(12,105)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(2,005)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(2,287)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(7,813)</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">311,147</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">275,993</font></b></font></p>
  </td>
 <td width=8% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">28,294</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">6,860</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=14% 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;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">Of which: individual</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=8% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(2,611)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(10)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(479)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(2,122)</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=8% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=14% 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;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">Of which: collective</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=8% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(9,494)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(1,995)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(1,808)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(5,691)</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=8% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_e23920a0c13e4867b5b8d079f"></a><a name="XBRL_FS_228da6df0585494996d15e262"></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; Spain
includes all countries where BBVA, S.A. operates.</font></font><a name="XBRL_FS_228da6df0585494996d15e262_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_FS_78bb1530bda74462bcd276b24"></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_78bb1530bda74462bcd276b24_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_FS_d919736aefe74c178561c33f7"></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 mainly in Argentina,
Colombia, Peru and Uruguay.</font></font><a name="XBRL_FS_d919736aefe74c178561c33f7_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:17.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.0pt;"><a name="XBRL_FS_f61a3be4845b4758a277bef10"></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, 2020, the remaining balance was &#8364;363
million). These valuation adjustments are recognized in the consolidated 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_f61a3be4845b4758a277bef10_bclEnd"></a><a name="XBRL_TS_e23920a0c13e4867b5b8d079f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_PROV_AREAS001_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=13 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 style="font-size:7.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom width=16% style="height:9.0pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=28% 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;">Gross exposure</font></b></font></p>
  </td>
 <td colspan=4 width=28% 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;">Accumulated allowances</font></b></font></p>
  </td>
 <td colspan=4 width=28% 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;">Carrying amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=16% 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=#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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:9.0pt;">
  <td valign=bottom width=16% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Spain (*)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">197,058</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">173,843</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">14,599</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">8,616</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(5,311)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(712)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(661)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(3,939)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">191,747</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">173,131</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">13,939</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">4,677</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom 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:7.0pt;">The United States</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;">57,387</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;">49,744</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;">7,011</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;">632</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;">(688)</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;">(165)</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;">(342)</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;">(182)</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;">56,699</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;">49,580</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;">6,670</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;">450</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom 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:7.0pt;">Mexico</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;">60,099</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;">54,748</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;">3,873</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;">1,478</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;">(2,013)</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;">(697)</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;">(404)</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;">(912)</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;">58,087</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;">54,052</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;">3,469</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;">566</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom 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:7.0pt;">Turkey (**)</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;">43,113</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;">34,536</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;">5,127</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;">3,451</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;">(2,613)</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;">(189)</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;">(450)</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;">(1,974)</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;">40,500</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;">34,347</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;">4,677</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;">1,477</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom 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:7.0pt;">South America (***)</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;">36,265</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;">31,754</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;">2,742</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;">1,769</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;">(1,769)</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;">(366)</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;">(323)</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;">(1,079)</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;">34,497</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;">31,388</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;">2,419</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;">690</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom 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:7.0pt;">Others </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;">839</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;">824</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;">7</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;">9</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;">(8)</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)</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)</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;">(6)</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;">832</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;">823</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;">6</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</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=16% style="background:#5AC4C4;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=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
<tr style="height:9.0pt;">
  <td width=16% 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;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">Of which: individual</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(2,795)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(6)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(347)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(2,441)</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=16% style="height:9.75pt;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 style="font-size:7.0pt;">Of which: collective</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.75pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.75pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.75pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.75pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(9,608)</font></i></font></p>
  </td>
 <td nowrap 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(2,123)</font></i></font></p>
  </td>
 <td nowrap 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(1,834)</font></i></font></p>
  </td>
 <td nowrap 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(5,652)</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.75pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.75pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.75pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.75pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;line-height:115%;">&#160;&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_0c8e381dc2d04386ab2df7033"></a><a name="XBRL_FS_b627eeecfe07464fae447bce9"></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; Spain includes all countries where BBVA, S.A. operates.</font></font><a name="XBRL_FS_b627eeecfe07464fae447bce9_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_FS_672813399e744936a4592a2ee"></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_672813399e744936a4592a2ee_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_FS_b20bc08df6774ff69c48401ac"></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 mainly in Argentina,
Chile, Colombia, Peru, Uruguay and Venezuela.</font></font><a name="XBRL_FS_b20bc08df6774ff69c48401ac_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:17.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.0pt;"><a name="XBRL_FS_de399d14117743d0a52f895f1"></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 remaining balance was &#8364;433
million). These valuation adjustments are recognized in the consolidated 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_de399d14117743d0a52f895f1_bclEnd"></a><a name="XBRL_TS_0c8e381dc2d04386ab2df7033_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-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">

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_PROV_AREAS002_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=13 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 style="font-size:7.0pt;">December 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom width=16% style="height:9.0pt;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 style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 width=28% 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;">Gross exposure</font></b></font></p>
  </td>
 <td colspan=4 width=28% 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;">Accumulated allowances</font></b></font></p>
  </td>
 <td colspan=4 width=28% 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;">Carrying amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=16% 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=#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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:9.0pt;">
  <td valign=bottom width=16% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Spain (*)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">195,447</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">172,599</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">12,827</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10,021</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(5,874)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(713)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(877)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(4,284)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">189,574</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">171,886</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">11,951</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">5,737</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom 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:7.0pt;">The United States</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;">57,321</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;">50,665</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;">5,923</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;">733</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;">(658)</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;">(206)</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;">(299)</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;">(153)</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;">56,663</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;">50,459</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;">5,624</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;">580</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom 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:7.0pt;">Mexico</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;">52,858</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;">48,354</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;">3,366</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;">1,138</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;">(1,750)</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;">(640)</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;">(373)</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;">(737)</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;">51,107</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;">47,714</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;">2,992</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;">401</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom 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:7.0pt;">Turkey (**)</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;">43,718</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;">34,883</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;">6,113</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;">2,722</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;">(2,241)</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;">(171)</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;">(591)</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;">(1,479)</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;">41,479</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;">34,712</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;">5,523</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;">1,244</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom 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:7.0pt;">South America (***)</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;">36,098</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;">31,947</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;">2,436</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=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;">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:9.0pt;">
  <td valign=bottom 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:7.0pt;">Others </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;">783</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;">756</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;">8</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;">19</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;">(19)</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;">-</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)</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;">(18)</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;">763</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;">755</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;">7</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</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=16% style="background:#5AC4C4;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=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
<tr style="height:9.0pt;">
  <td width=16% 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;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">Of which: individual</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(3,333)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(3)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(504)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(2,826)</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=16% 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;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">Of which: collective</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(8,866)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(2,067)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(1,870)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(4,929)</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:#D9D9D9;height:9.0pt;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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;line-height:115%;">&#160;&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_6c93922bd8bf47b89a2b756ac"></a><a name="XBRL_FS_fb25a494b23049ed8630d6b01"></a><a name="XBRL_FS_00b02e53e1fe4afb8b657fea8"></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; Spain
includes all countries where BBVA, S.A. operates.</font></font><a name="XBRL_FS_00b02e53e1fe4afb8b657fea8_bclEnd"></a><a name="XBRL_FS_fb25a494b23049ed8630d6b01_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_FS_8b3318bf35a34b9e94ed48cee"></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_8b3318bf35a34b9e94ed48cee_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_FS_56d11a0bab58403ca0c356cc4"></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; In South America, BBVA Group operates mainly in Argentina,
Chile, Colombia, Peru, Uruguay and Venezuela.</font></font><a name="XBRL_FS_56d11a0bab58403ca0c356cc4_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:17.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.0pt;"><a name="XBRL_FS_e038a371c28e46a7a381a5662"></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 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 remaining balance was &#8364;540
million). These valuation adjustments are recognized in the consolidated 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_e038a371c28e46a7a381a5662_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;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: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, 2020, 2019 and 2018 is shown below:</font></font><a name="XBRL_TS_6c93922bd8bf47b89a2b756ac_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.1_CLIENTELA001_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=13 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 2020
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=25% style="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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap width=26% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Gross exposure</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=24% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Accumulated allowances</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=25% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Net amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=25% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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>
 <td nowrap width=7% 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=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:8.0pt;">Stage 1</font></i></b></font></p>
  </td>
 <td nowrap width=6% 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=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:8.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=6% 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=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:8.0pt;">Stage 3</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 1</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 3</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 1</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 3</font></i></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap 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;">Public
  administrations</font></font></p>
  </td>
 <td nowrap width=7% 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;">19,439</font></font></p>
  </td>
 <td nowrap width=7% 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;">19,163</font></font></p>
  </td>
 <td nowrap width=6% 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;">200</font></font></p>
  </td>
 <td nowrap width=6% 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;">76</font></font></p>
  </td>
 <td nowrap width=6% 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;">(48)</font></font></p>
  </td>
 <td nowrap width=6% 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=6% 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;">(9)</font></font></p>
  </td>
 <td nowrap width=6% 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)</font></font></p>
  </td>
 <td nowrap width=6% 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;">19,391</font></font></p>
  </td>
 <td nowrap width=7% 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;">19,149</font></font></p>
  </td>
 <td nowrap width=6% 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;">191</font></font></p>
  </td>
 <td nowrap width=6% 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;">51</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap 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;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,856</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,747</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,817</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,722</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td nowrap 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;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">142,547</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">119,891</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,179</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,477</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(6,123)</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(774)</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,110)</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(4,239)</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">136,424</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">119,117</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">14,069</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,238</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap 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;">Individuals</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">151,410</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">129,196</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,108</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,106</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(5,895)</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,161)</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(3,542)</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">145,515</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">128,005</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13,946</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,564</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=25% style="background:#5AC4C4;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;">Loans and
  advances to customers</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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;">323,252</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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;">277,998</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">30,581</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">14,672</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">(12,105)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">(2,005)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">(2,287)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">(7,813)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">311,147</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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;">275,993</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">28,294</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">6,860</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;vertical-align:top;"><font color=#263238 face=Arial,sans-serif style="border:none;"><font color=#263238 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.1_CLIENTELA002_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:11.25pt;">
  <td colspan=13 nowrap width=100% style="background:#E9E9E9;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 style="font-size:8.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=24% style="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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap width=27% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Gross exposure</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=24% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Accumulated allowances</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=25% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Net amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=24% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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>
 <td nowrap width=7% 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=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:8.0pt;">Stage 1</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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p 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:8.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=6% 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=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:8.0pt;">Stage 3</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 1</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 3</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 1</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 3</font></i></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=24% 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;">Public
  administrations</font></font></p>
  </td>
 <td nowrap width=7% 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;">28,281</font></font></p>
  </td>
 <td nowrap width=7% 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;">27,511</font></font></p>
  </td>
 <td nowrap width=7% 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;">682</font></font></p>
  </td>
 <td nowrap width=6% 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;">88</font></font></p>
  </td>
 <td nowrap width=6% 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;">(59)</font></font></p>
  </td>
 <td nowrap width=6% 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;">(15)</font></font></p>
  </td>
 <td nowrap width=6% 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;">(22)</font></font></p>
  </td>
 <td nowrap width=6% 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;">(21)</font></font></p>
  </td>
 <td nowrap width=6% 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;">28,222</font></font></p>
  </td>
 <td nowrap width=6% 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;">27,496</font></font></p>
  </td>
 <td nowrap width=6% 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;">660</font></font></p>
  </td>
 <td nowrap width=7% 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;">66</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=24% 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;">Other financial corporations</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,239</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,085</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,066</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td nowrap width=24% 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;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">173,254</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">148,768</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16,018</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,468</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">147,957</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,114</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,718</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=24% 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;">Individuals</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">181,989</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">158,085</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16,523</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,381</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">156,801</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,272</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.25pt;">
  <td width=24% style="background:#5AC4C4;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:8.0pt;">Loans and
  advances to customers</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">394,763</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">345,449</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">33,360</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">15,954</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">343,320</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">31,179</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">7,861</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;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_CLIENTELA003_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:11.25pt;">
  <td colspan=13 nowrap width=100% style="background:#E9E9E9;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 style="font-size:8.0pt;">December 2018
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=23% style="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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap width=28% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Gross exposure</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=25% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Accumulated allowances</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=24% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Net amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=23% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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>
 <td nowrap width=7% 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=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:8.0pt;">Stage 1</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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p 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:8.0pt;">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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p 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:8.0pt;">Stage 3</font></i></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 1</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 3</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 1</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Stage 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=23% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Public
  administrations</font></font></p>
  </td>
 <td nowrap width=7% 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;">28,632</font></font></p>
  </td>
 <td nowrap width=7% 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;">27,740</font></font></p>
  </td>
 <td nowrap width=7% 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;">764</font></font></p>
  </td>
 <td nowrap width=7% 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;">128</font></font></p>
  </td>
 <td nowrap width=7% 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;">(84)</font></font></p>
  </td>
 <td nowrap width=6% 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;">(21)</font></font></p>
  </td>
 <td nowrap width=6% 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)</font></font></p>
  </td>
 <td nowrap width=6% 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;">(38)</font></font></p>
  </td>
 <td nowrap width=6% 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;">28,549</font></font></p>
  </td>
 <td nowrap width=6% 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;">27,719</font></font></p>
  </td>
 <td nowrap width=6% 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;">739</font></font></p>
  </td>
 <td nowrap width=6% 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;">91</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=23% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td nowrap width=23% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td nowrap width=23% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Individuals</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:22.5pt;">
  <td nowrap width=23% style="background:#5AC4C4;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;">Loans and
  advances to customers</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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;">386,225</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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;">339,204</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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;">30,673</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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;">16,348</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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;">(12,199)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">(2,070)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">(2,374)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">(7,755)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">374,027</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">337,134</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">28,299</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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;">8,593</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_TS_44bf898cd6e74c38866ac3889"></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,
2020, 2019 and 2018 is shown below:</font></font><a name="XBRL_TS_44bf898cd6e74c38866ac3889_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:8.25pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;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 2020
  (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 valign=bottom width=27% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">7</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">502</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,798</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">528</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2,835</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3,021</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;">-</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;">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;">1,485</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;">11,605</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;">13,093</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;">14,220</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;">898</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;">317</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;">14,262</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;">67</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;">15,544</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">15,796</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;">197</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;">6</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">7,125</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;">322</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;">7,650</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;">8,013</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;">472</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;">1,914</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;">71</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;">2,457</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;">2,463</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;">5,690</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;">18,111</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;">3,972</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;">5,799</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;">111,141</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;">132,603</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;">277,317</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;">287,467</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;">Advances that
  are not 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;">48</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;">260</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;">8,721</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;">3,191</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;">1,084</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;">473</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;">13,777</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;">13,833</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=27% style="background:#5AC4C4;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;height:11.1pt;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;">6,209</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:11.1pt;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;">19,475</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:11.1pt;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;">14,608</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:11.1pt;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;">9,817</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:11.1pt;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;">136,966</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:11.1pt;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;">145,598</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:11.1pt;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;">332,672</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:11.1pt;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;">344,813</font></b></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 style="font-size:5.0pt;">By secured loans</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 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 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 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 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 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 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 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 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;">372</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;">-</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;">209</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;">22,091</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;">94,147</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;">116,819</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;">120,194</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;">472</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;">952</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;">-</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;">317</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;">3,763</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;">2,059</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;">7,562</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;">7,776</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:16.5pt;">
  <td width=27% style="height:16.5pt;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;"><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: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;"><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: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;"><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: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;"><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: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;"><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: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;"><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:16.5pt;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:5.0pt;">39,799</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">39,799</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">43,037</font></i></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=27% style="height:16.5pt;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;"><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: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;"><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: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;"><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: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;"><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: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;"><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: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;"><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:16.5pt;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:5.0pt;">94,098</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">94,098</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">95,751</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:16.5pt;">
  <td width=27% style="height:16.5pt;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;"><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: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;"><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: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;"><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: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;"><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: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;"><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:16.5pt;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:5.0pt;">10,721</font></i></font></p>
  </td>
 <td nowrap width=9% 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;"><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:16.5pt;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:5.0pt;">10,721</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">11,032</font></i></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_307"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_012B_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:5.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=28% 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:5.0pt;">&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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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: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:5.0pt;">General governments</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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: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:5.0pt;">Other financial corporations</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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: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:5.0pt;">Households</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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: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:5.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=28% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">On demand and
  short notice</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:5.0pt;">-</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:5.0pt;">9</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:5.0pt;">-</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:5.0pt;">118</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:5.0pt;">2,328</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:5.0pt;">595</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:5.0pt;">3,050</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:5.0pt;">3,251</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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:5.0pt;">Credit card debt</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:5.0pt;">Commercial debtors </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;">971</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=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:5.0pt;">Finance leases</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:5.0pt;">Reverse repurchase
  loans</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:5.0pt;">Other term loans</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:5.0pt;">Advances that
  are not loans</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">35</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=28% style="background:#5AC4C4;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=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=28% 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 secured loans</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=#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=28% 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=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;">1,067</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;">15</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">261</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;">23,575</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;">111,085</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;">136,003</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;">139,317</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% 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=9% style="height:12.75pt;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;">-</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;">10,447</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;">93</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;">2,106</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;">29,009</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;">6,893</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;">48,548</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;">49,266</font></i></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=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=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="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>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% 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=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="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;">46,356</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;">46,356</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;">49,474</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% 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=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="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;">110,178</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;">110,178</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;">111,636</font></i></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=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=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>
 <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=28% 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=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;">12,259</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;">12,259</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;">12,415</font></i></font></p>
  </td>
 </tr>
</table></div>



<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;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_012.1B_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;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 valign=bottom width=27% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">10</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">151</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2,833</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">648</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3,641</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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="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="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;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;height:11.1pt;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;height:11.1pt;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;height:11.1pt;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;height:11.1pt;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;height:11.1pt;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;height:11.1pt;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;height:11.1pt;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;height:11.1pt;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="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;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;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;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;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;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;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;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;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>



<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;"><a name="XBRL_TS_92984db03d874f28b1aafe7fb"></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;">7.2.3. Mitigation of credit risk, collateralized credit risk and
other credit enhancements</font></b></font></h3>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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;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 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%;">Analysis of the financial risk of
the transaction, based on the debtor&#8217;s capacity for repayment or generation of
funds.</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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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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;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 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%;">Assessment of the repayment risk
(asset liquidity) of the guarantees received.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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 general
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;text-align:justify;"><font 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
the collateral is taken into account in the calculation of the expected losses.
The Group has developed internal models to estimate the realization value of
the collaterals received, the time that elapses until then, the costs for their
acquisition, maintenance and subsequent sale, from real observations based on
its own experience. This modeling is part of the LGD estimation processes that
are applied to the different segments, and is included within the annual review
and validation procedures.</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;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 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 held for trading:
The guarantees or credit enhancements obtained directly from the issuer or
counterparty are implicit in the clauses of the instrument </font></font><font color=#090909 face=Arial,sans-serif style="border:none;"><font color=#090909 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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;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 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%;">Derivatives and hedging
derivatives: In derivatives, credit risk is minimized through contractual netting
agreements, where positive- and negative-value derivatives with the same
counterparty are offset for their net balance. There may likewise be other
kinds of guarantees and collaterals, depending on counterparty solvency and the
nature of the transaction </font></font><font color=#090909 face=Arial,sans-serif style="border:none;"><font color=#090909 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">mainly collaterals).</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-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 summary of the
offsetting effect (via netting and collateral) for derivatives and securities
operations as of December 31, 2020 is presented in Note 7.3.2.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">Other financial assets designated
at fair value through profit or loss and financial assets at fair value through
other comprehensive income: The guarantees or credit enhancements obtained
directly from the issuer or counterparty are inherent to the structure of the
instrument </font></font><font color=#090909 face=Arial,sans-serif style="border:none;"><font color=#090909 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">mainly personal guarantees).</font></font></p>

<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;"><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, 2020, 2019 and 2018,
BBVA Group had no credit risk exposure of impaired financial assets at fair
value through other comprehensive income (see 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:avoid;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 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 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;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 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 guarantees, 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;text-align:justify;"><font 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 7.2.6), by type
of collateral, as of December 31, 2020, 2019 and 2018, is the following:</font></font><a name="XBRL_TS_92984db03d874f28b1aafe7fb_bclEnd"></a><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> &nbsp;</font></font></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;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 2020
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=35% style="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=54% 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:16.5pt;">
  <td width=35% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 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=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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: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: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: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: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: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:7.5pt;">Others</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:27.75pt;">
  <td nowrap width=35% 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;">Impaired loans
  and advances at amortized cost</font></font></p>
  </td>
 <td nowrap width=11% 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;">14,678</font></font></p>
  </td>
 <td nowrap width=11% 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;">2,717</font></font></p>
  </td>
 <td nowrap width=11% 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;">789</font></font></p>
  </td>
 <td nowrap width=11% 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;">18</font></font></p>
  </td>
 <td nowrap width=11% 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;">52</font></font></p>
  </td>
 <td nowrap width=10% 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;">575</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="background:#5AC4C4;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">14,678</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,717</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">789</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">575</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>

<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;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=33% style="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=55% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">3,396</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:8.0pt;">939</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:8.0pt;">35</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:8.0pt;">221</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:8.0pt;">542</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% style="background:#5AC4C4;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=12% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>




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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-68</font></font><font 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_309"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_098.2_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:10.5pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;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="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=55% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">3,484</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:8.0pt;">1,255</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:8.0pt;">13</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:8.0pt;">317</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:8.0pt;">502</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% style="background:#5AC4C4;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=12% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;"><a name="XBRL_TS_1cd4ed9a2e0a45d7b96a419ad"></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, 2020, 2019 and
2018, is the following:</font></font><a name="XBRL_TS_1cd4ed9a2e0a45d7b96a419ad_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=4 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 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=55% 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=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;">2020</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=#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=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>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=55% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">116,900 </font></b></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=#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=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=#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=55% 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:
  guarantees normal risks under special monitoring</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">11,296 </font></i></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=#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=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=#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=55% 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:
  guarantees non-performing risks</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">3,577 </font></i></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=#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=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=#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=55% 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:8.0pt;">Value of other
  guarantees</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">47,012 </font></b></font></p>
  </td>
 <td 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=#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=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=#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=55% 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:
  guarantees normal risks under special monitoring</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">4,045 </font></i></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=#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=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=#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=55% 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:
  guarantees non-performing risks</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">575 </font></i></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=#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=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=#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=55% style="background:#5AC4C4;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=15% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">163,912 </font></b></font></p>
  </td>
 <td width=15% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=15% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>



<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_1703cb801f864b1ab164d544d"></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, 2020, 2019 and 2018 amounts to &#8364;1,032, &#8364;1,001 and &#8364;987 million,
respectively (see Note 7.2.2).</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;">7.2.4. Credit quality of financial assets that are neither past due nor
impaired</font></b></font></h3>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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;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 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%;">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;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 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%;">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;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 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%;">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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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>

<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, 2020:</font></font><a name="XBRL_TS_1703cb801f864b1ab164d544d_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 nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">External </font></b><b><i><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">rating&nbsp;</font></i></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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Internal </font></b><b><i><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">rating&nbsp;</font></i></b></font></p>
  </td>
 <td colspan=3 width=62% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif 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;">(basis points)</font></b></font></p>
  </td>
 </tr>
<tr style="height:25.0pt;">
  <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Standard&amp;Poor's List</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Reduced List (22 groups)</font></b></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Average</font></b></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Minimum from &gt;=</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Maximum </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=22% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">-</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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">3</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">4</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">5</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">6</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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+</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=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;">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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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</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=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;">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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-</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=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;">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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">1,061</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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">1,336</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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">1,684</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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">2,121</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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">2,673</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=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">3,367</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_24ea230f56164c699cafdf0ef"></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,
2020, 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_24ea230f56164c699cafdf0ef_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_032_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:7.0pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;height:7.0pt;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=15% style="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=29% 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:8.0pt;">2020</font></b></font></p>
  </td>
 <td colspan=2 nowrap 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:8.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=2 nowrap 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:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td width=15% 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=15% 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=14% 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=14% 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=14% 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><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=14% 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=14% 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=15% 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=15% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=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;">%</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;">%</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;">%</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;">%</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;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.0pt;">
  <td nowrap valign=bottom width=15% style="border:none;height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=15% style="border:none;height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">4.0</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="border:none;height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="border:none;height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="border:none;height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="border:none;height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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:7.0pt;">
  <td nowrap valign=bottom width=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">10.2</font></font></p>
  </td>
 <td nowrap width=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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>
 <td nowrap width=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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:7.0pt;">
  <td nowrap valign=bottom width=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">7.7</font></font></p>
  </td>
 <td nowrap width=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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>
 <td nowrap width=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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:7.0pt;">
  <td nowrap valign=bottom width=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">26.8</font></font></p>
  </td>
 <td nowrap width=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">0.5</font></font></p>
  </td>
 <td nowrap width=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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:7.0pt;">
  <td nowrap valign=bottom width=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">24.0</font></font></p>
  </td>
 <td nowrap width=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">2.3</font></font></p>
  </td>
 <td nowrap width=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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:7.0pt;">
  <td nowrap valign=bottom width=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">15.1</font></font></p>
  </td>
 <td nowrap width=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">3.4</font></font></p>
  </td>
 <td nowrap width=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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:7.0pt;">
  <td nowrap valign=bottom width=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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:7.0pt;">
  <td nowrap valign=bottom width=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=15% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">0.6</font></font></p>
  </td>
 <td nowrap width=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">2.5</font></font></p>
  </td>
 <td nowrap width=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=14% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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:7.0pt;">
  <td width=15% style="background:#5AC4C4;height:7.0pt;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=15% style="background:#5AC4C4;height:7.0pt;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;">89.9</font></b></font></p>
  </td>
 <td width=14% style="background:#5AC4C4;height:7.0pt;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;">10.1</font></b></font></p>
  </td>
 <td width=14% style="background:#5AC4C4;height:7.0pt;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=14% style="background:#5AC4C4;height:7.0pt;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=14% style="background:#5AC4C4;height:7.0pt;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=14% style="background:#5AC4C4;height:7.0pt;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>



<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;"><a name="XBRL_TS_e1993f4211eb4853aea63fa78"></a><a name="_Toc449684191"></a><a name="_Toc376949910"></a><a name="_Toc376972318"></a></h3>
<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-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">
<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;">7.2.5. Impaired secured loan risks</font></b></font></h3>

<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, 2020, 2019 and 2018 is as follows:</font></font><a name="XBRL_TS_e1993f4211eb4853aea63fa78_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;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 2020
  (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;">6,229</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;">(20)</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;">-</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;">19,439</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;">76</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;">(48)</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=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;">14,591</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;">(16)</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;">-</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;">9,856</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;">14</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;">(39)</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=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;">142,547</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;">7,477</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;">(6,123)</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;">5.2%</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;">3,438</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;">132</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;">(108)</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;">3.8%</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;">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;">4,349</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;">(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;">1.1%</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;">33,771</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;">1,486</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;">(1,129)</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;">4.4%</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;">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;">13,490</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;">591</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;">(509)</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;">4.4%</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;">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;">899</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</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;">(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;">1.9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">10,019</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;">1,397</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;">(722)</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;">13.9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">24,594</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;">1,456</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;">(1,223)</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>
 </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;">8,117</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;">489</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;">(368)</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;">6.0%</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;">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;">8,337</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;">358</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;">(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;">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 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;">5,764</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>
 <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=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;">1.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">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;">5,298</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;">123</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;">(132)</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;">2.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">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;">10,025</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;">617</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;">(494)</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;">6.2%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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;">2,886</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;">177</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;">(124)</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;">6.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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;">3,955</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;">142</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;">(192)</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;">3.6%</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 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;">129</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;">(4)</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;">3.5%</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;">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;">665</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;">54</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;">(43)</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;">8.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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;">1,812</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;">(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;">3.7%</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;">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;">1,131</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;">46</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;">4.1%</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;">3,871</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;">198</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;">(523)</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;">5.1%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=41% style="border:none;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">151,410</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">7,106</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(5,895)</font></b></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=#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=41% style="background:#5AC4C4;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">344,072</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">14,678</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(12,141)</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">4.3%</font></b></font></p>
  </td>
 </tr>
</table></div>



<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%;">&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;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: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;">4,285</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;">(9)</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;">28,281</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;">88</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;">(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=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;">13,664</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</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;">(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;">-</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;">11,239</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;">17</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;">(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=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;">173,254</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;">8,467</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;">(6,465)</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=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;">3,758</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;">154</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;">(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=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;">4,669</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;">100</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;">(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=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;">39,517</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;">1,711</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;">(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=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;">12,305</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;">684</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;">(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=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;">900</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;">14</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)</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;">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;">10,945</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;">1,377</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;">(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=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;">27,467</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;">1,799</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;">(1,448)</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=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;">9,638</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;">507</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;">(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=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;">8,703</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;">279</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;">(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=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
  communications</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;">6,316</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;">95</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;">(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=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;">6,864</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;">191</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;">(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=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;">19,435</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;">782</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;">(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=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;">4,375</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;">167</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;">(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=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;">3,415</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;">118</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;">(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=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;">282</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;">(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=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;">903</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;">(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=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;">4,696</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>
 <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;">(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=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;">1,396</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;">47</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=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=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;">7,671</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;">331</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;">(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=44% style="border:none;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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=#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=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=#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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;">
  <td nowrap width=44% style="background:#5AC4C4;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;">LOANS AND ADVANCES</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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-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">
<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%;">&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=5 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 2018
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:45.0pt;">
  <td width=40% 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=15% 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;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=15% 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</font></b></font></p>
  </td>
 <td width=15% 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;">Accumulated impairment </font></b></font></p>
  </td>
 <td width=15% 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=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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;">-</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;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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;">28,198</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;">128</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;">(84)</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;">0.4%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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;">9,175</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;">10</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;">(12)</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;">0.1%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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;">9,490</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</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;">(22)</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;">0.1%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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;">170,182</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;">8,372</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;">(6,260)</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;">4.9%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Agriculture, forestry
  and fishing</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;">3,685</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;">122</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;">(107)</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;">3.3%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Mining and quarrying</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;">4,952</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;">96</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;">(70)</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;">1.9%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Manufacturing</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;">36,772</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;">1,695</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;">(1,134)</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;">4.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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;">13,853</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;">585</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;">(446)</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;">4.2%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">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;">1,061</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</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;">(15)</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;">1.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">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;">11,899</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;">1,488</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;">(1,007)</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;">12.5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">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;">25,833</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;">1,624</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;">(1,259)</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;">6.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">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;">9,798</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;">459</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;">(374)</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;">4.7%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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;">7,882</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;">315</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;">(204)</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;">4.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">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;">5,238</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;">113</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;">(72)</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;">2.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">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;">6,929</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;">147</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;">(128)</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;">2.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">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;">17,272</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;">834</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;">(624)</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;">4.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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;">5,096</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;">204</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;">(171)</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;">4.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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;">3,162</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;">128</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;">(125)</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;">4.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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;">319</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;">(7)</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;">1.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">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;">912</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;">31</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;">(31)</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;">3.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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;">4,406</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;">63</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;">(63)</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;">1.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">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;">1,323</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;">59</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;">4.5%</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">386</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;">(382)</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;">3.9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=#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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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=#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=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=#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=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=#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=40% style="background:#5AC4C4;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=15% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=15% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=15% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>



<font color=black face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font 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: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_1848df184cc74737ad9da71ec"></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-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>

</DIV>
</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">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="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 2020, 2019 and 2018 of impaired
financial assets and contingent risks are as follow:</font></font><a name="XBRL_TS_1848df184cc74737ad9da71ec_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;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 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:8.0pt;">&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:8.0pt;">2020</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:8.0pt;">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:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#5AC4C4;border:none;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=15% style="background:#5AC4C4;border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">16,770</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">17,134</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">20,590</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 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=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;">9,533</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;">9,857</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;">9,792</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;">Decreases (*)</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;">(5,024)</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;">(5,874)</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;">(6,909)</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:8.0pt;">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:8.0pt;">4,509</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:8.0pt;">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:8.0pt;">2,883</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;">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:8.0pt;">(3,603)</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;">(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:8.0pt;">(5,076)</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;">Exchange differences
  and other</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;">(968)</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;">(544)</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;">(1,264)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=56% style="background:#5AC4C4;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 end </font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">16,708</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">16,770</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">17,134</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_13dff22f1a69440ebb0aa30ee"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160;&nbsp;</font></font><a name="XBRL_FS_547f3e0af9a044da89a5577ec"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#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.</font></font><a name="XBRL_FS_547f3e0af9a044da89a5577ec_bclEnd"></a><a name="XBRL_TS_13dff22f1a69440ebb0aa30ee_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_b3aeb646e3914d2388bb18d5e"></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
during the years </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%;">2020, 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%;">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_b3aeb646e3914d2388bb18d5e_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;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 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;">2020</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>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% style="background:#5AC4C4;border:none;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<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;">Companies held for
  sale (*)</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;">(4,646)</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 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;">3,440</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;">4,712</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>
 </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;">(2,715)</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;">(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>
 </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;">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;">(7)</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>
 </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;">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;">(339)</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>
 </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;">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;">(479)</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>
 </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;">Sales (**)</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;">(1,223)</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>
 </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;">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;">(607)</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>
 </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 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;">(60)</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>
 </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;">Net exchange
  differences</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;">(323)</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;">230</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;">250</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=44% style="background:#5AC4C4;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;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;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">22,001</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&#160;<a name="XBRL_TS_9a28f3e89e6e44da981c5b7dd"></a><a name="XBRL_FS_019a986a2da447d080638c5c7"></a>(*)&#160; Amount in 2020 is mainly due to
the sale of the stake in BBVA USA (see Notes 3 and 21). <a name="XBRL_FS_019a986a2da447d080638c5c7_bclEnd"></a></font></font></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_0b017649f49f4b46aaf3007d1"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(**)&#160; Includes principal and
interest.</font></font><a name="XBRL_FS_0b017649f49f4b46aaf3007d1_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 2.2.1,
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 forgiven, or other
reason</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>

<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;">7.2.6. Loss allowances</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%;">Movements in
gross accounting balances and accumulated allowances for loan losses during
2020 and 2019 are recorded on the accompanying consolidated balance sheet as of
December 31, 2020 and 2019, in order to cover the estimated loss allowances in
loans and advances and debt securities measured at amortized cost. </font></font><a name="XBRL_TS_9a28f3e89e6e44da981c5b7dd_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_013_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:18.0pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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;">2020 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap valign=bottom width=35% style="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="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="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="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="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;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
<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;">Transfers 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;">(11,935)</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;">8,807</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;">3,128</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 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;">(15,843)</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;">15,843</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;">5,107</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;">(5,107)</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;">(1,701)</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;">(2,659)</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;">4,359</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;">502</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;">729</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;">(1,231)</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: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;">Net annual
  origination of financial assets</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;">16,119</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;">(827)</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;">102</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;">15,395</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;">(3)</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)</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;">(2,944)</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;">(2,949)</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;">(21,472)</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;">(2,342)</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;">(1,157)</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;">(24,970)</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;">(204)</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;">827</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;">511</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;">1,134</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;">Other</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;">(283)</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;">(190)</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;">270</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;">(204)</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;">Discontinued operations</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;">(46,664)</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;">(9,190)</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;">(1,192)</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;">(57,045)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=35% style="background:#5AC4C4;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:7.0pt;">Closing balance</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">298,793</font></b></font></p>
  </td>
 <td width=16% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">30,601</font></b></font></p>
  </td>
 <td width=16% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">14,678</font></b></font></p>
  </td>
 <td width=16% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">344,072</font></b></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_314"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_015_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:18.0pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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;">2020 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap valign=bottom width=35% style="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="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="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="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="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;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<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;">Transfers 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;">184</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;">(511)</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;">(1,806)</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;">(2,133)</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;">156</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;">(923)</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;">(766)</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;">(50)</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;">253</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;">202</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;">81</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;">218</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;">(1,950)</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;">(1,652)</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;">(3)</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;">(59)</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;">144</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;">83</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;">Net annual
  origination of allowances</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;">(872)</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;">(795)</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;">(1,329)</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;">(2,996)</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;write-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;">-</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;">2,567</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;">2,568</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;">227</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;">256</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;">721</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;">1,204</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;">12</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;">(118)</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;">(177)</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;">(283)</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;">Other</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;">160</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;">618</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;">25</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;">803</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;">Discontinued
  operations</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;">401</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;">444</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;">278</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;">1,123</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% style="background:#5AC4C4;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(2,037)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(2,289)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(7,815)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(12,141)</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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_013.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:18.0pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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;">2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap valign=bottom width=35% style="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="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="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="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="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;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>



<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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_015.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:18.0pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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;">2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap valign=bottom width=35% style="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="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="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="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="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;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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;">Transfers 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;">176</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;">(227)</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;">(1,574)</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;">(1,626)</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;">126</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;">(649)</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;">(523)</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;">(38)</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;">273</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;">235</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;">89</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;">234</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;">(1,810)</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;">(1,487)</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;">(1)</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;">(86)</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;">236</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;">149</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 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=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;">(116)</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;">(1,711)</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;">(2,370)</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;write-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=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;">337</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;">2,789</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;">3,256</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;">(30)</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;">(18)</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;">69</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;">20</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;">(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;">(149)</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;">(89)</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;">(254)</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;">Other</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;">215</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;">366</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;">183</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;">764</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% style="background:#5AC4C4;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:6.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_a4fc34a53a014e17aa8e8f7a3"></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 are the movements produced during 2018 in the value
adjustments recorded in the accompanying balance sheets to cover the impairment
or reversal of the estimated impairment of financial assets at amortized cost:</font></font><a name="XBRL_TS_a4fc34a53a014e17aa8e8f7a3_bclEnd"></a></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;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="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="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;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;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;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;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;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;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">(155)</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;">328</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;">(1,794)</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;">(1,490)</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Stages&nbsp;</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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="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="height:9.75pt;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:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:9.75pt;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:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:9.75pt;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:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:9.75pt;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:6.0pt;">&nbsp;</font></i></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=#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 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=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=#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=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=#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=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=#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=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>




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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_315"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<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;"><a name="XBRL_TS_8f5d2cb2c71e4fd9b253ad5d1"></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;">7.2.7.
Refinancing and restructuring transactions </font></b></font></h3>

<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;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 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%;">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;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 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%;">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;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 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%;">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;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 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%;">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;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 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 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;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 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 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>

<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;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 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%;">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;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 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%;">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;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 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%;">Customers subject to refinancing
and restructuring transactions are excluded from marketing campaigns of any
kind.</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-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_316"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;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 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%;">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;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 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%;">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;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 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 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;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 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%;">&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;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 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%;">&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;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 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 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;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 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 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;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 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 customer does not have past due
payments and objective criteria, demonstrating the borrower&#180;s ability to pay,
have been verified.</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;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 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 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;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 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 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;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 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 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 economic
impact caused by the Covid-19 pandemic has required the adaptation of the
repayment schedule of a large volume of loans in all geographies and
portfolios. In general, this support has been conducted through the concession
of deferrals that comply with the principles established by the EBA, which has
allowed for the application of a differential accounting and prudential
treatment.<br>
<br>
Renewals and renegotiations will be classified as normal risk, provided that
there is no significant increase in risk. This classification is applicable at
the initial moment, and in the event of any deterioration, the criteria
established in the existing governance are followed. In this sense, the
aforementioned conditions are considered, including, among others, no facility
with more than 30 days delinquency and not being identified as 'unlikely to
pay'.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 on refinancing and restructuring transactions see Appendix VIII.</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;"><a name="_Toc474142236"></a><a name="_Toc505356851"></a></h3>
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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-76</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_317"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;">7.2.8. Risk concentration</font></b></font></h3>

<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, portfolio and geography 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;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 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 aim is, as much as possible, to
reconcile the customer's credit needs (commercial/financial,
short-term/long-term, etc.) with the interests of the Group.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-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%;">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;"><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 and during 2018, when doubtful
assets exited the balance sheet and recovery of the sector concluded. A
corporate sales policy has been rolled out to eliminate those real estate
assets from the balance sheet which have been most difficult to commercialize.
The sales of 80% of the Group&#8217;s share in Divarian and of other performing and
NPL wholesale portfolios to Funds and specialized investors have been some of
the most relevant transactions (see Note 3).</font></font></p>

<p style="border:none;margin-bottom: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 Group 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 risk 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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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-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_318"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 one of the constant. The
monitoring of the work, sales prospects 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 guarantees coordination and
exchange of information in all the processes.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">In this context,
and within the current Real Estate cycle, the strategy with clients is subject
to an Asset Allocation limit and to an action framework that allows defining a
target portfolio, both in volume and in credit quality.</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. There
is a systematic monitoring of developments under close monitoring with the
evolution of works and sales. Since 2013, there are no threats of new defaults
in the portfolio.</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%;">The internal Rules on Real Estate
Financing, which establish recommendations for financing a new housing
development business, are reviewed and updated annually.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font 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%;">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_8f5d2cb2c71e4fd9b253ad5d1_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="_Toc505356845"></a><a name="_Toc474142230"></a><a name="_Toc449684200"></a><a name="XBRL_TS_1d5668e5f54d4846863d74e94"></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;">7.3. Market 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%;">Market risk originates from the
possibility of experiencing losses in the value of positions held as a result
of movements in market variables that affect the valuation of financial assets
and liabilities. Market risk in the Group's trading portfolios stems mainly from
the portfolios originated by Global Markets valued at fair value and held for
the purpose of trading and generating short-term results. Market risk in the
field of banking book is clearly and distinctly addressed and can be broken
down into structural risks relating to interest rate, exchange rate and equity
(see Note 7.4).</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. Market risk in trading portfolios </font></b></font></h3>

<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 main risks in the trading portfolios can be classified as
follows:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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-rate risk: This arises as a result of exposure to
movements in the different interest-rate curves involved in trading. Although
the typical products that generate sensitivity to the movements in interest
rates are money-market products (deposits, interest-rate futures, call money
swaps, etc.) and traditional interest-rate derivatives (swaps and interest-rate
options such as caps, floors, swaptions, etc.), practically all the financial
products are exposed to interest-rate movements due to the effect that such
movements have on the valuation of the financial discount.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><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 risk: This arises as a
result of movements in share prices. This risk is generated in spot positions
in shares or any derivative products whose underlying asset is a share or an
equity index. Dividend risk is a sub-risk of equity risk, arising as an input
for any equity option. Its variation may affect the valuation of positions and
it is therefore a factor that generates risk on the books.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><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%;">Exchange-rate risk: This is caused
by movements in the exchange rates of the different currencies in which a
position is held. As in the case of equity risk, this risk is generated in spot
currency positions, and in any derivative product whose underlying asset is an
exchange rate. In addition, the quanto effect (operations where the underlying
asset and the instrument itself are denominated in different currencies) means
that in certain transactions in which the underlying asset is not a currency,
an exchange-rate risk is generated that has to be measured and monitored.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><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 risk: Credit spread
is an indicator of an issuer's credit quality. Spread risk occurs due to
variations in the levels of spread of both corporate and government issues, and
affects positions in bonds and credit derivatives.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><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%;">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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-78</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%;">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 </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%;">BBVA S.A.</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%;"> and BBVA Mexico
trading book, which jointly accounted for around 72%, 72% and 76% of the
Group&#8217;s trading-book market risk as of December 31, 2020, 2019 and 2018. 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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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;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%;">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;text-align:justify;text-indent:-18.0pt;"><a name="_Toc411000601"></a><a name="_Toc411000321"></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%;">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;text-align:justify;text-indent:-18.0pt;"><a name="_Toc411000602"></a><a name="_Toc411000322"></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%;">VaR with smoothing, which gives a greater weight to more recent
market information. This metric supplements the previous one.</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:10.0pt;margin-left:3.3pt;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 use of VaR by historical simulation methodology as a risk
metric has many advantages, but also certain limitations, among which it is
worth highlighting:</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=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 estimate of the maximum daily
loss of the Global Markets portfolio positions (with a confidence level of 99%)
depends on the market movements of the last two years, not picking up the
impact of large market events if they have not occurred within that historical
window</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=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 use of the 99% confidence level
does not consider potential losses that can occur beyond this level. To
mitigate this limitation, different stress exercises are also performed, as
described later.</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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><a name="_Toc411000603"></a><a name="_Toc411000323"></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%;">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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><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%;">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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><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%;">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 control measure, backtesting is conducted at a trading desk level in
order to enable more specific monitoring of the validity of the measurement
models.</font></font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-79</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_320"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 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;"><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 2020 the average VaR was
&#8364;27 million, above the figure of 2019, with a maximum level in the year reached
on the day May 14, 2020 of &#8364;39 million. The evolution in the BBVA Group&#8217;s
market risk during 2020, 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_1d5668e5f54d4846863d74e94_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 style="border:none;"><img border=0 height=435 src="d20f2020x319x0.jpg" width=651></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_c6d36adde3c849f5b5349640f"></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 56%
of the total at December 31, 2020 (this figure includes the spread risk). The
relative weight of this risk has increased compared with the close of 2019 (58%).
Exchange-rate risk accounted for 22% of the total risk, increasing its weight with
respect to December 2019 (13%), while equity, volatility and correlation risk
has decreased, with a weight of 22% at the close of 2020 (vs. 29% at the close
of 2019).</font></font><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-80</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_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;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="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, 2020, 2019 and 2018 the VaR was &#8364;32 million, &#8364;20
million and &#8364;17 million, respectively. The total VaR figures for 2020, 2019 and
2018 can be broken down as follows:</font></font><a name="XBRL_TS_c6d36adde3c849f5b5349640f_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;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;">2020</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=13% 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=#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 valign=bottom width=13% 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=#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 valign=bottom width=13% 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=#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 valign=bottom width=13% 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=#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: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;">29</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;">12</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;">11</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;">(28)</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;">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:7.0pt;">20</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;">10</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;">20</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;">39</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;">20</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</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;">1</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;">(39)</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>
 </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;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">32</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;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">12</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:7.0pt;">2</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:7.0pt;">11</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:7.0pt;">(29)</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:7.0pt;">28</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap valign=bottom width=20% 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=#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 valign=bottom width=14% 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=#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 valign=bottom width=14% 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=#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 valign=bottom width=13% 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=#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 valign=bottom width=13% 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=#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 valign=bottom width=13% 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=#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 valign=bottom width=13% 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=#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: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="border:none;border-bottom:solid 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;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">24</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;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">5</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:7.0pt;">5</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:7.0pt;">8</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:7.0pt;">(22)</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:7.0pt;">20</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap valign=bottom width=20% 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=#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 valign=bottom width=14% 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=#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 valign=bottom width=14% 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=#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 valign=bottom width=13% 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=#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 valign=bottom width=13% 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=#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 valign=bottom width=13% 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=#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 valign=bottom width=13% 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=#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: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="border:none;border-bottom:solid 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;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">19</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;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">5</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:7.0pt;">3</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">7</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:7.0pt;">(17)</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:7.0pt;">17</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_5ba6c5f849e94bffb0eba11fc"></a><a name="XBRL_FS_b104d0d7b3e042208ca76b534"></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;&#160;&#160;&#160;&#160;&#160;&#160; The
diversification effect is the difference between the sum of the average
individual risk factors and the total VaR figure that includes the implied
correlation between all the variables and scenarios used in the measurement.</font></font><a name="XBRL_FS_b104d0d7b3e042208ca76b534_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;"><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 (in 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 Global
Markets 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 2020, 2019 and
2018:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font 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%;">&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;text-align:justify;text-indent:-18.0pt;"><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%;">&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, 2019 and the year ended December 31, 2020,
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. In that period, there were no negative
exceptions in BBVA S.A., while in BBVA Mexico there were a total of 3
exceptions. The COVID-19 epidemic together with the fall in the oil price
resulted in a sharp depreciation of the local currency, a considerable spike in
stock market volatility, a breakdown of the correlation between different
curves and an abrupt movement in local interest rate curves.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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 been the case 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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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-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_322"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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:4.0pt;margin-left:36.0pt;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;">&#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 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 shock: reflected mainly in the increase of
credit spreads and downgrades in credit ratings.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font 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 color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Increased volatility in most of the financial markets
(giving rise to a great deal of variation in the prices of different assets
(currency, equity, debt).</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font 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 color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Liquidity shock in the financial systems, reflected by
a major movement in interbank curves, particularly in the shortest sections of
the euro and dollar curves.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after: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,
2020 is as follows:</font></font><a name="XBRL_TS_5ba6c5f849e94bffb0eba11fc_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=8 nowrap width=100% style="background:#E9E9E9;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 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td nowrap valign=bottom width=19% style="height:13.0pt;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 width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=12% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=12% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=12% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=19% 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;">Expected shortfall</font></font></p>
  </td>
 <td nowrap width=12% 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;">(121)</font></font></p>
  </td>
 <td nowrap width=12% 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;">(69)</font></font></p>
  </td>
 <td nowrap width=12% 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;">(8)</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;">-</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;">(8)</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;">(4)</font></font></p>
  </td>
 <td nowrap width=12% 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;">(8)</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%;">&nbsp;</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;"><a name="XBRL_TS_69f2b1207bc94897a18b7c02c"></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%;">7.3.2. 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></h3>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:-.55pt;"><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;text-indent:-.55pt;"><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;text-indent:-.55pt;"><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
being the most widespread the ones 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:-.55pt;"><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;text-indent:-.55pt;"><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,
2020, 2019 and 2018:</font></font><a name="XBRL_TS_69f2b1207bc94897a18b7c02c_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;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 2020
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td nowrap valign=bottom width=29% style="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="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 style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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=#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="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="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="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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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;">47,862</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;">5,688</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;">42,173</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;">33,842</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;">9,018</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;">(686)</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=29% 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:8.0pt;">Reverse
  repurchase, securities borrowing and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% 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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">34,500</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">34,500</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35,141</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">161</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(802)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=29% style="background:#5AC4C4;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;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">82,362</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,688</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">76,674</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">68,983</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">9,178</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=29% 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;">Trading and hedging
  derivatives</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10, 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:8.0pt;">49,720</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:8.0pt;">5,722</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:8.0pt;">43,998</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">33,842</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:8.0pt;">9,435</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:8.0pt;">721</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=29% 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:8.0pt;">Repurchase,
  securities lending and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% 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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">43,950</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">43,950</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">44,677</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,619</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(2,346)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=29% style="background:#5AC4C4;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;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=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">93,670</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,722</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">87,948</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">78,519</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">11,054</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(1,624)</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-82</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_323"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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>

<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;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 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td nowrap valign=bottom width=30% style="height:36.0pt;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 style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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=#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="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="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="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="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:21.0pt;">
  <td nowrap width=30% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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 width=10% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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: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:7.0pt;">Gross amounts recognized (A)</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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: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 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: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: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: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:7.0pt;">Cash collateral received/ pledged</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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;">36,349</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;">2,388</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;">33,961</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;">25,020</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;">8,210</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:8.0pt;">731</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td 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:8.0pt;">Reverse
  repurchase, securities borrowing and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% style="height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35,805</font></font></p>
  </td>
 <td nowrap width=10% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">21</font></font></p>
  </td>
 <td nowrap width=10% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35,784</font></font></p>
  </td>
 <td nowrap width=10% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35,618</font></font></p>
  </td>
 <td nowrap width=10% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">204</font></font></p>
  </td>
 <td nowrap width=10% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(39)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=30% style="background:#5AC4C4;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;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;"><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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">72,154</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">69,744</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">60,637</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:13.5pt;">
  <td valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Trading and hedging
  derivatives</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10, 15</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;">38,693</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=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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">36,299</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;">25,020</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;">10,613</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;">667</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=30% 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;">Repurchase,
  securities lending and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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: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;">45,977</font></font></p>
  </td>
 <td nowrap width=10% 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;">21</font></font></p>
  </td>
 <td nowrap width=10% 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;">45,956</font></font></p>
  </td>
 <td nowrap width=10% 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;">45,239</font></font></p>
  </td>
 <td nowrap width=10% 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;">420</font></font></p>
  </td>
 <td nowrap width=10% 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;">297</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=30% style="background:#5AC4C4;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;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=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">84,670</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">82,256</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">70,259</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>



<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>

<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;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:39.0pt;">
  <td nowrap valign=bottom width=30% style="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="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="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="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="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="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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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;">48,895</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;">32,415</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;">24,011</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:19.5pt;">
  <td 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:8.0pt;">Reverse
  repurchase, securities borrowing and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% 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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28,074</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28,032</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28,022</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">169</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(159)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=30% style="background:#5AC4C4;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;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">76,969</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">60,447</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">52,033</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.0pt;">
  <td valign=bottom width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Trading and hedging
  derivatives</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10, 15</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;">50,583</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;">17,101</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:8.0pt;">33,481</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;">24,011</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;">6,788</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;">2,682</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td 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:8.0pt;">Repurchase,
  securities lending and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% 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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">43,035</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42,993</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42,877</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">34</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">82</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=30% style="background:#5AC4C4;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;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=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">93,618</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">76,474</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">66,888</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-.55pt;"><a name="XBRL_TS_024e784738ec492eb9f84bcf4"></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_024e784738ec492eb9f84bcf4_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_ebd114801ff94bb08613d725a"></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;line-height:115%;">7.4. Structural
risk</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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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-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_324"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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 with
regard to action plans related with its management for its approval. These
management proposals are made by the Finance area with a forward-looking focus,
maintaining the alignment with the risk appetite framework, trying to guarantee
the recurrence of results and financial stability, as well as to preserve the
solvency of the entity. 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%;">GRM area acts as
an independent unit, enabling adequate separation between the management and
risk control functions, and is responsible for assisting 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's corporate bodies
as well as to the GRMC.</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:8.0pt;">Within the three lines of defense scheme in which BBVA's internal control model is established according to the most advanced standards in terms of internal control, the first line of defense is composed by the Finance area, which is responsible for managing the structural risk.</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:8.0pt;">&nbsp;</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:8.0pt;">While GRM, as a second line of defense, is in charge of identifying risks, and establishing policies and control models, periodically evaluating their effectiveness.</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:8.0pt;">&nbsp;</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:8.0pt;">In the second line of defense, there are also the Internal Risk Control units, which independently review the Structural Risk control, and Internal Financial Control, which carry out a review on the design and effectiveness of the operational controls over structural risk management.</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:8.0pt;">&nbsp;</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:8.0pt;">The third line of defense is represented by the Internal Audit area, which, with total independence, is responsible for reviewing specific controls and 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%;">&nbsp;</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;">7.4.1. 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, types of markets 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>

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


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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-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_325"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 from a set of metrics and tools that enables
the capture of additional sources to properly monitor 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 shape and the basis of yield curves.
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, and incorporating the set of scenarios defined according to
EBA guidelines.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 2020, the Group worked to
improve the control and management model in accordance with 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 the
stress analysis, including the evaluation of the impacts on the main balance
sheet accounts of the Group that could derive from the range of interest rate
scenarios defined according to the EBA guidelines mentioned above.</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>

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


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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-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_326"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font 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 currencies in the BBVA Group in 2020:</font></font><a name="XBRL_TS_ebd114801ff94bb08613d725a_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;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 2020</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap valign=bottom width=36% style="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 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=right style="border:none;margin:0cm;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 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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 style="border:none;margin:0cm;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=16% 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: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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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;">EUR </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;">[1.5% , 3.5%]</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;">[-1.5% , -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;">[3.5% , 5.5%]</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;">[-3.5% , -1.5%]</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;">MXN</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% , 1.5%]</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;">[-1.5% , -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;">[-1.5% , -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% , 1.5%]</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;">TRY</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% , 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% , 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% , 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% , 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;">Other</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% , 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% , 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% , 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% , 0.5%]</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=36% style="background:#5AC4C4;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">[3.5% , 5.5%]</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">[-3.5% , -1.5%]</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">[3.5% , 5.5%]</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">[-3.5% , -1.5%]</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_fca852e324d347079fbeb18d0"></a><a name="XBRL_FS_996d1e2a1e9e45fbb3edd6908"></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;&#160;&#160;&#160;&#160;&#160; Percentage of
&quot;1 year&quot; net interest income forecast for each unit.</font></font><a name="XBRL_FS_996d1e2a1e9e45fbb3edd6908_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_c9b46b46f5db4280b92055d96"></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;&#160;&#160;&#160;&#160; Percentage
of Core Capital for each unit.</font></font><a name="XBRL_FS_c9b46b46f5db4280b92055d96_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_5856fe88f1904c4d80a93b426"></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;&#160; &#160;&#160;</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:6.0pt;">In</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:6.0pt;"> EUR and USD, negative </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:6.0pt;">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:6.0pt;">scenarios are allowed up to plausible levels lower </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:6.0pt;">than current rates.</font></font><a name="XBRL_FS_5856fe88f1904c4d80a93b426_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%;">&nbsp;</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:8.0pt;line-height:115%;">During 2020, central banks and governments have carried out monetary stimulus measures to mitigate the economic impact caused by the COVID-19 pandemic, which has significantly affected the global economy, spreading to most countries. In Europe, the monetary stimulus measures of the European Central Bank have continued, and the Euribor have fallen, reaching historical low records. In the United States, the reference rates (Libor) have maintained a downward trend, in line with the cuts made by the Federal Reserve in the first quarter of the year. Also in Mexico, the monetary policy rate has fallen significantly during the year. In Turkey, although it initially showed a downward trend in interest rates, aggressive increases have been registered since August, reversing the declines of previous quarters, ending the year with an increase of 500 basis points above December's level of 2019.</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:8.0pt;line-height:115%;">&nbsp;</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:8.0pt;line-height:115%;">In South America, monetary policy has been expansionary, with a reduction in reference rates in the economies of Colombia and Peru, reaching historical low records, affected by the contraction in activity. On the other hand, in Argentina there is a strongly restrictive monetary policy, with a high increase in interest rates in the second half of the year, due to the strong volatility of the markets, affected by the devaluation of the exchange rate.</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:8.0pt;line-height:115%;">&nbsp;</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 BBVA Group, at an aggregate level, continues to maintain a moderate risk profile, in accordance with the established objective, showing a favorable position to a rise in interest rates on net interest income. Effective management of the balance sheet structural risk has mitigated the negative impact of the downward trend in interest rates and the volatility experienced as a result of the effects of COVID-19, and is reflected in the strength and recurrence of the margin of interests:</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:8.0pt;">&nbsp;</font></font></p><p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:36.0pt;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%;">In Europe and the United States, the downward trend in interest rates remains limited by current levels, preventing extremely adverse scenarios from occurring. Both balance sheets are characterized by a loan portfolio with a high proportion referenced to a variable interest rate (mainly mortgages in Spain and loans to companies in both countries) and a liability composed mainly of customer deposits. The COAP portfolios act as hedging of the bank balance, mitigating its sensitivity to interest rate movements. This profile has remained stable during 2020 on both balance sheets. In Spain, the sensitivity of the interest margin has increased in the year due to the maintenance of higher balances of sensitive liquid assets as a result of the generation of liquidity on the balance sheet and the additional financing of TLTRO III (see Note 22), and due to maturity of a part of the coverage of the mortgage portfolio. In the United States, the sensitivity has been reduced due to the balance sheet hedges carried out in late 2019 and early 2020.</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:8.0pt;line-height:115%;">&nbsp;</font></font></p><p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:36.0pt;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%;">In Mexico, a balance has been maintained between balances referenced to fixed and variable interest rates. Among the assets most sensitive to interest rate movements, the wholesale portfolio stands out, while consumer and mortgages are mostly at a fixed rate. The COAP portfolio is used to balance the longer term of customer deposits. The sensitivity of the interest margin remains limited and stable during 2020, considering the new interest rate scenario that emerged in March, with a downward trend in rates benchmark throughout 2020.</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: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-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">
<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:36.0pt;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%;">In Turkey, the interest rate risk on the balance sheet increased during 2020, as a result of regulatory requirements (such as the Asset Ratio, applied by the Banking Regulation Supervision Agency (BRSA) and the Good Bank, established by the Central Bank of Turkey (CBRT)) that encourage loan growth. As a result of the establishment of these Regulations, the growth of loans, mostly at a fixed rate, together with the increase in the COAP portfolio, negatively affected sensitivity, being offset by inflation-linked bonds and floating bonds, as well as due to the increase in deposits in the liability side.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><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:.0001pt;margin-left:36.0pt;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%;">In South America, the risk profile on interest rates continues to be low, as most of the countries in the area have a composition of fixed / variable and very similar maturities between assets and liabilities, showing a sensitivity of the margin interest rate limited and with slight variations throughout 2020. Likewise, in countries with balances in several currencies, interest rate risk is also managed for each of the currencies, showing a very low level of risk. The measures promoted by central banks and governments have contributed to raising deposits and excess liquidity in Colombia and Peru, as well as their positions in monetary assets, generating a slight positive variation in margin sensitivity.</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. 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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font 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, 2020, the main
currencies of the geographies where the Group operates have depreciated against
the euro during the year: Mexican peso (-13.1%), US Dollar (-8.5%), Turkish
lira (-26.7%), Colombian peso (-12.6%), Peruvian sol (-16.3%) and Argentine
peso (-34.8%).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font 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 in some cases increased due to the restrictions related
to dividend payments from the subsidiaries which have offset the reduction in
risk due to the depreciation of the currencies. The hedging policy intends to
keep low levels of sensitivity to movements in the exchange rates of emerging
markets currencies against the euro. 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 2020, CET1 ratio
sensitivity to the depreciation of 10% in the euro exchange rate for each
currency is estimated: USD +9 bps; Mexican peso -5 bps; Turkish lira -2 bps;
other currencies -1 bp (excluding hyperinflation economies). On the other hand,
hedging of emerging markets currency denominated earnings in 2020 reached 65%,
concentrated in Mexican peso, Turkish lira and the main Latin American
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%;">For the years 2020, 2019 and 2018,
the estimated sensitivities of the result attributable to the parent company
are shown below, taking into account the coverage against depreciations and
appreciations of 1% of the average rate in the main currencies. To the extent
that hedging positions are periodically modulated, the sensitivity estimate
attempts to reflect an average (or effective) sensitivity in the year:</font></font><a name="XBRL_TS_fca852e324d347079fbeb18d0_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_SMSR_7.4.2_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:11.25pt;">
  <td colspan=4 nowrap valign=bottom width=100% style="background:#E9E9E9;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;">Sensitivity
  to 1% (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=26% style="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 nowrap width=25% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=25% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=24% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=26% 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=#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=25% 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=#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 width=25% 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=#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=24% 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=#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:11.25pt;">
  <td nowrap valign=bottom width=26% 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;">Mexican peso</font></font></p>
  </td>
 <td nowrap width=25% 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;">4.9</font></font></p>
  </td>
 <td nowrap width=25% 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;">12.7</font></font></p>
  </td>
 <td nowrap width=24% 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;">13.0</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=26% 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;">Turkish lira</font></font></p>
  </td>
 <td nowrap width=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.1</font></font></p>
  </td>
 <td nowrap width=24% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.0</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=26% 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;">Peruvian sol</font></font></p>
  </td>
 <td nowrap width=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=24% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=26% 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;">Chilean peso</font></font></p>
  </td>
 <td nowrap width=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.7</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=26% 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;">Colombian peso</font></font></p>
  </td>
 <td nowrap width=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2.6</font></font></p>
  </td>
 <td nowrap width=24% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 nowrap valign=bottom width=26% 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;">Argentine peso</font></font></p>
  </td>
 <td nowrap width=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=24% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=26% 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;">US Dollar </font></font></p>
  </td>
 <td nowrap width=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7.3</font></font></p>
  </td>
 </tr>
</table></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;"><a name="XBRL_TS_f9317fcf0e1d45eaa68b1ef29"></a></h3>
<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-87</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_328"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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. 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%;">Global Equity markets have been
severely affected by the outbreak of the coronavirus in the first quarter. The
extraordinary fiscal and monetary response fostered their recovery although
this has been uneven across different geographies and sectors. In this sense,
the Spanish equity market has shown one of the worst performances as it fell
15% during 2020.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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;20 million as of
December 31, 2020, compared to -&#8364;26 million as of December 31, 2019. 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 color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">.&nbsp;</font></font><a name="XBRL_TS_f9317fcf0e1d45eaa68b1ef29_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_be1352b851e3456f80a63c101"></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;line-height:115%;">7.5. 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 in meeting its payment commitments due to
lack of funds 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;"><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;">7.5.1. 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 its
core 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: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 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">Compliance with regulatory
requirements, enabling the availability of ample liquidity buffers, of high
quality, as well as sufficient instruments as required by regulations with the
capacity to absorb losses.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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 Financing Risk
Management aims, in the short term, to prevent an entity from having
difficulties in meeting its payment commitments in due time and form or that,
to meet them, it has to resort to obtaining funds in burdensome conditions that
deteriorate the image or reputation of the entity.</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-88</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_329"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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, its objective is to support the suitability of the Group's
financial structure and its evolution, within the framework of 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 comprise it. 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%;">Within this strategy, the BBVA
Group is organized into eleven LMUs compose of the parent company and the bank
subsidiaries in each geography, plus the branches that depend on them.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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 financing risk appetite that 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
part of the strategic processes for the Group&#8217;s budgetary and business
planning. This objective is to allow a recurrent 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;">7.5.2. 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 the development of 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 most demanding standards, policies,
procedures and controls in the framework established by the governing bodies.
Finance, 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 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: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%;">Finance is also responsible for
preparing the regulatory reporting of liquidity, coordinating with the
responsible areas in each LGU the necessary processes to cover the requirements
at corporate and regulatory level, enabling the integrity of the information
provided.</font></font></p>

<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%;">GRM is responsible for promoting
the liquidity and financing risk in the Group is managed in accordance with the
framework established by governing bodies. It also deals with the
identification, measurement, monitoring and control of such risks and their
communication to the relevant corporate bodies. In order to carry out this task
properly, the risk function in the Group has been configured as a single,
global function, independent of the management areas.</font></font></p>

<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%;">Additionally, the Group has, in its
second line of defense, an Internal Risk Control unit, which performs an
independent review of the control of Liquidity and Financing Risk, and a
Financial Internal Control Unit that reviews the design and effectiveness of
the controls operations on liquidity management and reporting.</font></font></p>

<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%;">As the third line of defense of the
Group's internal control model, Internal Audit is in charge of reviewing specific
controls and processes in accordance with a work plan that is drawn up
annually.</font></font></p>

<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 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: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 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 internal
levels required are aimed at efficiently meeting the regulatory requirement, at
a widely level above 100%.</font></font></p>

<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 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 of the LMUs
which make 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 dual-currency balances, 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: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%;">Stable customer funds are
considered to be the financing obtained and managed from 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: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 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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-89</font></font><font 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_330"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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%;">Additionally,
liquidity and funding risk management aims to achieve a proper diversification
of the funding structure, avoiding excessive dependence on short-term funding
by establishing a maximum level for the short-term funds raised, including both
wholesale financing and the least stable proportion of customer funds In
relation to long-term financing, the maturity profile does not present
significant concentrations, which makes it possible to adapt the schedule of
the planned issuance plan to the best financial conditions in the markets.
Lastly, concentration risk is monitored at LMU level, with the aim of supporting
a correct diversification of both the counterparty and type of instrument.</font></font></p>

<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%;">One of the fundamental metrics
within the general management framework of the liquidity and funding risk is
the maintenance of a liquidity buffer consisting of high quality assets free of
charges which can be sold or offered as collateral to obtain funding, either
under normal market conditions or in stress situations.</font></font></p>

<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 Finance is responsible for the
collateral management and determining the liquidity buffer within the BBVA
Group. According to the principle of auto-sufficiency of the Group's
subsidiaries, each LMU is responsible for maintaining a buffer of liquid assets
which complies with the regulatory requirements applicable under each
jurisdiction. In addition, the liquidity buffer of each LMU must 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: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 this context, the short-term
resistance of the liquidity risk profile is promoted, supporting that each LMU
has sufficient collateral to deal with the risk of the closure of wholesale
markets. Basic capacity is the internal metric for the management and control
of short-term liquidity risk, which is defined as the relationship between the
explicit assets available and the maturities of wholesale liabilities and
volatile resources, at different time periods up to the year, with special
relevance at 30 and 90 days, with the objective of preserving the survival
period above 3 months with the available buffer, without considering the
balance inflows.</font></font></p>

<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%;">As a fundamental element of the
liquidity and financing risk monitoring scheme, stress tests are carried out.
They enable to anticipate deviations from the liquidity targets and the limits
set in the appetite, and to establish 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: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%;">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 clients; 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 BBVA's credit quality.</font></font></p>

<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 stress tests conducted on a
regular basis by GRM 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 (with
the exception of Turkey where despite closing the year above 3 months, the
regulatory requirements have led to non-compliance during certain periods),
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: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%;">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: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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><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 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><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%;">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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-90</font></font><font 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_331"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=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 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,
the 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 guarantee 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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font 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;">7.5.3. 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 2020, 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%;">During 2020, liquidity conditions
have remained comfortable in all the countries where the BBVA Group operates.
Since the beginning of March, the global crisis caused by COVID-19 has had a
significant impact on financial markets. The effects of this crisis on the
Group's balance sheets materialized fundamentally at first, through greater
provision of credit lines by wholesale clients in view of the worsening
financing conditions in the markets, with no significant effect on the retail
world. These provisions were largely paid off over the following quarters.
Dealing with this situation of initial uncertainty, the different central banks
provided a joint response through specific measures and programs to facilitate
the financing of the real economy and the provision of liquidity in financial
markets, increasing liquidity buffers in almost all areas with BBVA presence.</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%;">Thus, the
performance of the indicators show that the robustness of the funding structure
remained steady during 2020, 2019 and 2018, in the sense that all LMUs held
self-funding levels with stable customer resources above the requirements.</font></font><a name="XBRL_TS_be1352b851e3456f80a63c101_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;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=31% 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=23% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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 width=23% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=23% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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: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 (average)</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">95%</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">108%</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">106%</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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=23% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">108%</font></font></p>
  </td>
 <td nowrap width=23% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">101%</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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>
 <td nowrap width=23% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">111%</font></font></p>
  </td>
 <td nowrap width=23% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">119%</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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=23% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">116%</font></font></p>
  </td>
 <td nowrap width=23% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">114%</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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=23% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">99%</font></font></p>
  </td>
 <td nowrap width=23% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">110%</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;">Other LMUs</font></font></p>
  </td>
 <td nowrap width=23% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">86%</font></font></p>
  </td>
 <td nowrap width=23% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">103%</font></font></p>
  </td>
 <td nowrap width=23% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">99%</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_bdc7e7298514495bbeec996d0"></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 LCR, the Group has maintained a liquidity buffer at both a consolidated and
individual level in 2020. As a result, the ratio has remained comfortably above
100%, with the consolidated ratio as of December 31, 2020 standing at 149%.</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%;">Although
this requirement is only established at a Group level, for banks in the
Eurozone, the minimum level required is comfortably exceeded in all
subsidiaries. It should be noted that the calculation of the Consolidated LCR
does not allow the transfer of liquidity between subsidiaries, so no excess
liquidity may be transferred from these entities for the purpose of calculating
the consolidated ratio. If the impact of these highly liquid assets was
considered, the LCR would be 185%, or +36 basis points above the required
level.</font></font><a name="XBRL_TS_bdc7e7298514495bbeec996d0_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-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 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;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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2020</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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=23% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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: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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">149%</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">127%</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">173%</font></font></p>
  </td>
 <td nowrap width=23% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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: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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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>
 <td nowrap width=23% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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>
 </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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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=23% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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>
 </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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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=23% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_cfde92ed941140f9a825a99ee"></a><a name="XBRL_FS_ec98bd999e3e4107a15bbdefd"></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_ec98bd999e3e4107a15bbdefd_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, 2020, 2019
and 2018 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_cfde92ed941140f9a825a99ee_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=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 2020
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td nowrap width=46% 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=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;">BBVA Eurozone</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;">BBVA Mexico</font></b></font></p>
  </td>
 <td width=13% 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;">Garanti BBVA</font></b></font></p>
  </td>
 <td width=13% 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;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=46% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Cash and
  withdrawable central bank reserves</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;">39,330</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;">8,930</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;">6,153</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;">6,831</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=46% 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=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:8.0pt;">48,858</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:8.0pt;">9,205</font></font></p>
  </td>
 <td nowrap width=13% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,019</font></font></p>
  </td>
 <td nowrap width=13% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,237</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=46% 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=14% 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;">5,119</font></font></p>
  </td>
 <td nowrap width=14% 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;">106</font></font></p>
  </td>
 <td nowrap width=13% 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=13% 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=46% 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=14% 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;">6,080</font></font></p>
  </td>
 <td nowrap width=14% 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;">11</font></font></p>
  </td>
 <td nowrap width=13% 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=13% 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=46% 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=14% 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;">20,174</font></font></p>
  </td>
 <td nowrap width=14% 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;">421</font></font></p>
  </td>
 <td nowrap width=13% 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;">701</font></font></p>
  </td>
 <td nowrap width=13% 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;">745</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=46% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Non tradable
  assets eligible for central banks</font></font></p>
  </td>
 <td nowrap width=14% 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=14% 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=13% 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=13% 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=46% 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=14% 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;">119,560</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">18,672</font></b></font></p>
  </td>
 <td nowrap width=13% 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;">13,873</font></b></font></p>
  </td>
 <td nowrap width=13% 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;">13,814</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 align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_051.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=6 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: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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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;">14,516</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;">6,246</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;">4,949</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;">6,450</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;">6,368</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;">41,961</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;">7,295</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;">11,337</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;">7,953</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;">3,593</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;">403</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;">316</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;">344</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;">5,196</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;">219</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;">12</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;">22,213</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;">1,269</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;">952</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;">669</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;">586</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 lang=EN-US style="font-size:8.0pt;">Non tradable
  assets eligible for central banks</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;">2,935</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="border:none;border-bottom:solid 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;">84,288</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;">15,344</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;">20,516</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;">15,072</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;">10,559</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 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;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: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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=13% 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;">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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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;">26,506</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;">7,666</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;">1,667</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;">7,633</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;">6,677</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;">29,938</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;">10,490</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;">6,502</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;">3,652</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;">449</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;">409</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;">510</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>
 </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;">4,040</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;">33</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;">-</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;">8,772</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;">1,372</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;">1,043</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;">499</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;">617</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=35% 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;">Non tradable
  assets eligible for central banks</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,314</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">69,705</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;">14,475</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;">16,024</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;">14,634</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;">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_TS_a4ea71e8b223461182c440315"></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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<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, 2020 and
2019, calculated based on the Basel requirements, was the following:</font></font><a name="XBRL_TS_a4ea71e8b223461182c440315_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:11.25pt;">
  <td colspan=3 nowrap width=100% style="background:#E9E9E9;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 style="font-size:8.0pt;">NSFR main LMU</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=31% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=35% 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=#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 width=34% 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=#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>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=31% 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;">Group </font></b></font></p>
  </td>
 <td nowrap width=35% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">127%</font></b></font></p>
  </td>
 <td nowrap width=34% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">120%</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=31% 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;">BBVA Eurozone</font></font></p>
  </td>
 <td nowrap width=35% 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;">121%</font></font></p>
  </td>
 <td nowrap width=34% 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>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=31% 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;">BBVA Mexico</font></font></p>
  </td>
 <td nowrap width=35% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=34% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=31% 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;">BBVA USA</font></font></p>
  </td>
 <td nowrap width=35% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=34% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td nowrap width=31% 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;">Garanti BBVA</font></font></p>
  </td>
 <td nowrap width=35% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=34% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
</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_TS_944494a4483f4b6ab9d601540"></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, </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%;">2020, 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_944494a4483f4b6ab9d601540_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:15.75pt;">
  <td colspan=12 nowrap width=100% style="background:#E9E9E9;height:15.75pt;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
  2020. Contractual maturities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap width=23% 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=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=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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: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;">Up to 1 month</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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: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;">3 to 6 months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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: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;">9 to 12 months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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: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;">2 to 3 years</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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: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;">Over 5 years</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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:22.5pt;">
  <td valign=bottom 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;">42,518</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;">32,741</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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">75,258</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=23% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits in credit
  entities</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:8.0pt;">-</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:8.0pt;">3,616</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:8.0pt;">677</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:8.0pt;">921</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:8.0pt;">356</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:8.0pt;">461</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:8.0pt;">117</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:8.0pt;">120</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:8.0pt;">2</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:8.0pt;">39</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:8.0pt;">6,309</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom 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;">2,202</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;">855</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;">797</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;">734</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;">543</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;">1,251</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;">721</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;">515</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;">500</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;">8,119</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td valign=bottom 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 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: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;">-</font></font></p>
  </td>
 <td nowrap width=7% 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;">20,033</font></font></p>
  </td>
 <td nowrap width=7% 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;">4,757</font></font></p>
  </td>
 <td nowrap width=7% 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;">1,351</font></font></p>
  </td>
 <td nowrap width=7% 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;">364</font></font></p>
  </td>
 <td nowrap width=7% 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;">368</font></font></p>
  </td>
 <td nowrap width=7% 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;">3,320</font></font></p>
  </td>
 <td nowrap width=7% 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;">1,849</font></font></p>
  </td>
 <td nowrap width=7% 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;">891</font></font></p>
  </td>
 <td nowrap width=7% 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;">1,089</font></font></p>
  </td>
 <td nowrap width=7% 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;">34,021</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16,939</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">24,280</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">23,012</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,579</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17,032</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">46,182</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">38,851</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">51,709</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">110,173</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">344,036</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Securities' portfolio
  settlement</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,896</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,680</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,557</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,084</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13,014</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,858</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,494</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17,231</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">50,045</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">127,859</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-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;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
  2020. Contractual maturities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td nowrap width=23% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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=7% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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:8.0pt;">Wholesale funding</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:8.0pt;">-</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:8.0pt;">4,750</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:8.0pt;">2,618</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:8.0pt;">3,963</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:8.0pt;">1,283</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:8.0pt;">1,543</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:8.0pt;">10,573</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:8.0pt;">7,505</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:8.0pt;">12,793</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:8.0pt;">23,839</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:8.0pt;">68,868</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=23% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits in financial
  institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,838</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,859</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">254</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">741</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">152</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">726</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">825</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">189</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">166</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">371</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">20,120</font></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;">12,735</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;">4,324</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;">2,694</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;">588</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;">353</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;">272</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;">957</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;">337</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;">459</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;">870</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;">23,589</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=23% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">308,360</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">39,978</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13,416</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,808</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,526</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,366</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,361</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,213</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">869</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">799</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">383,694</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=23% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Security pledge
  funding</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">41,239</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,301</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,643</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,192</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">368</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,304</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28,510</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,740</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,516</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">94,812</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=23% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Derivatives, net</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(722)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(961)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(85)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">134</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(400)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(157)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(264)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(159)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(2,599)</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-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:11.25pt;">
  <td colspan=12 nowrap width=100% style="background:#E9E9E9;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;">December
  2019. Contractual maturities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td nowrap width=23% 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 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: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;">Demand </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=#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: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;">1 to 3 months</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=#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: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;">6 to 9 months</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=#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: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;">1 to 2 years</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=#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: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;">3 to 5 years </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=#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: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;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=23% 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;">ASSETS</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </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;">20,954</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;">20,654</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;">41,608</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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:8.0pt;">Deposits in credit
  entities</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.0pt;">
  <td width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Deposits in
  other financial institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.0pt;">
  <td 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:8.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.0pt;">
  <td 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:8.0pt;">Securities' portfolio
  settlement</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,622</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,873</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>



<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%;">&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;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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Demand </font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">3 to 6 months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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: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>




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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_334"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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%;">&nbsp;</font></font></p>

<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;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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Demand </font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">3 to 6 months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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: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;">9,550</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;">40,599</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;">50,149</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;">801</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;">3,211</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;">216</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;">141</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;">83</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;">152</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;">133</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;">178</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;">27</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;">1,269</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;">6,211</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;">1,408</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;">750</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;">664</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;">647</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;">375</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;">1,724</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;">896</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;">1,286</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;">2,764</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;">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: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;">132</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;">19,825</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;">25,939</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;">23,265</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;">15,347</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;">16,433</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;">42,100</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;">32,336</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;">53,386</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;">120,571</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;">349,334</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;">-</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;">1,875</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;">4,379</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;">5,990</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;">2,148</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;">6,823</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;">8,592</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;">12,423</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;">11,533</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;">42,738</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;">96,501</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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;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=30% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Demand </font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1 to 3 months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2 to 3 years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=30% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=6% 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 nowrap valign=bottom width=6% 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 nowrap valign=bottom width=6% 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 nowrap valign=bottom width=6% 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 nowrap valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom width=6% 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 nowrap valign=bottom width=6% 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 nowrap valign=bottom width=6% 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:13.5pt;">
  <td 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;">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=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,160</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,425</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,736</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16,040</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">26,363</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:14.25pt;">
  <td width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits in 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;">7,107</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;">5,599</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;">751</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,992</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">377</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,240</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,149</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;">229</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">196</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">904</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:14.25pt;">
  <td 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: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;">10,680</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;">4,327</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;">1,580</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">458</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">302</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">309</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">781</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;">304</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">825</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,692</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:14.25pt;">
  <td width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">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;">252,630</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;">44,866</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;">18,514</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,625</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,217</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,345</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,667</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;">2,137</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,207</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,310</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">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=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,274</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">114</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">97</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">218</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,627</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">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=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(68)</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(117)</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(67)</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(392)</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_f890203d58594323aacbab065"></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 financing structure, the loan portfolio is
mostly financed by retail deposits. 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;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
liquidity situation of the Group's main management units is detailed below:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 (UGL), the liquidity and financing situation remains solid and comfortable
with a large high-quality liquidity buffer that has been increased during the
year as a result of the growth in customer deposits and the actions taken by
the European Central Bank, which have meant an injection of liquidity in the
system. As a result of the COVID-19 crisis, there was initially a greater
demand for credit through the increase in the use of credit lines by the
Corporate &amp; Investment Banking wholesale business, which was also
accompanied by a growth in customer deposits. Subsequently, there were partial
refunds of those lines while deposits have continued to grow. In addition, it
is important to note the measures implemented by the ECB to deal with this
crisis, which have included different actions such as: the expansion of asset
purchase programs, especially through the PEPP (Pandemic Emergency Purchase
Program) for 750,000 million of euros in a first tranche announced in March and
expanded with a second tranche for an additional 600,000 million euros until
June 2021 or until the ECB considers that the crisis has ended, the coordinated
action of central banks for the provision of US dollars, a temporary package of
measures to make flexible the collateral eligible for financing operations, the
relaxation and improvement of the conditions of the TLTRO III program and the
creation of the new program of long-term refinancing operations without
specific emergency objective (PELTRO). In this regard, BBVA attended the TLTRO
III program windows in March and June (with an amount drawn down at the end of
December of 35,032 million euros) due to its favorable conditions in terms of
cost and term, amortizing the corresponding part of the TLTRO II program (see
Note 22).</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-94</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_335"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 is a comfortable liquidity situation with significant
growth in deposits during the year, driven mainly by stimulus measures from the
American government and the Federal Reserve. This has led to an increase in the
liquidity buffer and the liquidity and financing indicators are comfortable. As
in the euro zone, during the end of the first quarter of 2020 there was an
increase in loans stemmed mainly from an increase in the use of credit lines by
wholesale clients and the stimulus program of the American government aimed at
SMEs and freelances (Paycheck Protection Program). Subsequently, there were
repayments that bring the percentage of use of credit lines to levels prior to
the pandemic.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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, the liquidity position
has remained solid during the year due to the increase in deposits driven by
the success of the commercial actions carried out by the entity, especially in
the second semester, as well as by the stimulus measures implemented by Banxico
throughout the year to provide liquidity to the financial system, which made it
possible to offset the increase in the use of credit lines as a result of the
COVID-19 crisis. This good performance in deposits, together with the
normalization in credit growth, has reduced the credit gap, resulting in the
entity being in a comfortable situation in liquidity and financing ratios.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 Garanti BBVA, the liquidity situation
remained comfortable during 2020, with a contraction of loans and a growth of
deposits in foreign currency, as well as a higher growth in loans than deposits
in local currency. As a result of the COVID-19 crisis, the Turkish regulator
established the so-called asset ratio to mainly increase loans and discourage
the accumulation of deposits, causing an increase in the credit gap, which was
covered with the excess liquidity that the entity had. Subsequently, the asset
ratio requirement was reduced in the third quarter (from 100% to 90%) and was
eliminated in December. All in all, Garanti BBVA has shown a solid liquidity
buffer.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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, an adequate
liquidity situation is maintained throughout the region, favored by the support
of the different central banks and governments that, with the aim of mitigating
the impact of the COVID-19 crisis, have implemented measures for stimulating
economic activity and providing greater liquidity to financial systems. In
Argentina, the outflow of deposits in US dollars in the banking system slowed
down during 2020, and even showed some growth in the fourth quarter. BBVA
Argentina continues to maintain a solid liquidity position BBVA Colombia, after
the actions carried out to adjusting excess liquidity by reducing wholesale
deposits, continues to show a comfortable liquidity position. BBVA Peru has
seen its comfortable liquidity situation strengthened as a result of the
continuous increase in the volume of deposits during the second semester, as
well as the funds from the Central Bank's support programs.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The wholesale financing markets in
which the Group operates, after the first two months of 2020 of great stability
were followed by a strong correction derived from the COVID-19 crisis and
limited access to the primary market. This situation has been stabilizing due
to the evolution of the pandemic, the development of vaccines, various
geopolitical events and the actions of the Central Banks. Secondary market
volumes ended the year reaching the levels of January 2020, while primary
market volumes have been reactivated, lowering the issue premiums.</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
main transactions carried out by the companies that form part of the BBVA Group
in 2020 were: </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">During the first quarter of 2020
BBVA, S.A. made 2 senior non-preferred securities issues for a total of 1,400
million euros and another Tier 2 for 1,000 million euros. In the second quarter
of 2020, an issuance of senior preferred securities for 1,000 million euros was
executed as a social-COVID-19 bond, the first of its kind for a private
financial entity in Europe. In the third quarter, three public issues were
made: the first is the first green convertible bond of a financial institution
world-wide for an amount of 1,000 million euros; the second is a Tier 2
subordinated securities issue denominated in pound sterling, for an amount of
300 million pounds; and the third is an issuance of preferred securities
registered with the US SEC (Securities Exchange Commission) in two tranches
with maturities of three and five years, for a total of 2,000 million dollars.
On the other hand, in February 2020, BBVA exercised the call option of a
convertible bond of 1,500 million euros, and in January 2021, the entity has
early amortized three preferred issuances (for more information on these
transactions see the section &#8220;Solvency&#8221; of this report</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%;">).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">In 2020, BBVA M&#233;xico successfully
carried out a local senior issuance of 15,000 million Mexican pesos (614
million euros) in three tranches (two tranches in Mexican pesos at 3 and 5
years and another tranche in US dollars at 3 years), in order to advance the
refinancing of maturities in the year taking advantage of the good market
moment. It also carried out an international issue of senior unsecured
securities for an amount of 500 million US dollars of 5 years with a rate of
1.875%, which represents the lowest in history for a financial institution in
Mexico and for any private financial institutions in Latin America.
Furthermore, within the measures adopted by Banxico throughout the year, BBVA
Mexico has participated in auctions of US dollars with credit institutions
(swap line with the Fed) initially for an amount of 1,250 million US dollars,
partially renewing that position from June to September, for an amount of US $
700 million. Likewise, it has participated in the so-called Banxico facilities
7 and 8 (measures to transfer funds to micro, small and medium-sized companies,
as well as to individuals affected by the pandemic).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">In Turkey, Garanti BBVA carried out
a Tier 2 issuance for TRY 750 million in the first quarter of 2020. In the
second quarter of 2020, Garanti BBVA renewed a syndicated loan by issuing the
first green syndicated loan indexed to sustainability criteria, and 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%;">whose renovation the EBRD -European Bank for Reconstruction and
Development- and the IFC -International Finance Corporation- have participated.
And in the fourth quarter, Garanti BBVA partially renewed a syndicated loan for
an amount of </font></font><font color=#202124 face=Arial,sans-serif style="background:white;border:none;"><font color=#202124 face=Arial,sans-serif lang=EN-US style="background:white;font-size:8.0pt;line-height:115%;">$</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">636 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 solid 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;">&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-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">
<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;">7.5.4. 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, 2020, 2019 and 2018, the encumbered (those provided as collateral
for certain liabilities) and unencumbered assets are broken down as follows:</font></font><a name="XBRL_TS_f890203d58594323aacbab065_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 2020
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap valign=bottom width=34% style="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: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;">Encumbered assets</font></b></font></p>
  </td>
 <td colspan=2 width=33% 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;">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-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;">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;">121,999</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;">614,260</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;">2,134</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;">2,134</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;">14,556</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;">14,556</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;">29,379</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;">26,112</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;">100,108</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;">100,108</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;">90,486</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;">499,595</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:.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>

<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 2019 (Millions
  of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap valign=bottom width=35% style="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: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;">Encumbered assets</font></b></font></p>
  </td>
 <td colspan=2 width=33% 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;">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-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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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: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;">596,898</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;">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=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;">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=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;">68,636</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;">&#160;-&#160;&#160;&#160;&#160; &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 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;">&#160;-&#160;&#160;&#160;&#160; &nbsp;</font></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>

<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 2018
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap valign=bottom width=35% style="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: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;">Encumbered assets</font></b></font></p>
  </td>
 <td colspan=2 width=33% 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;">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-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;">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;">107,950</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;">567,573</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;">1,864</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,864</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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;">478,880</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_1ddfd5fbc866424ba35571319"></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
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;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, 2020, 2019 and 2018, 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_1ddfd5fbc866424ba35571319_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;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
  2020. Collateral received (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:72.75pt;">
  <td nowrap width=43% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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=19% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=center style="border:none;margin:0cm;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;">Fair value of collateral received or own debt securities issued
  available for encumbrance</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=center style="border:none;margin:0cm;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;">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=43% 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=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;">30,723</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;">8,652</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;">1,071</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=43% 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=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;">239</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;">204</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 width=43% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=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;">30,484</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;">8,448</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;">1,071</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=43% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=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;">-</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;">-</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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=43% 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=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;">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;">94</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;">-</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>

<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;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=43% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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=19% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=center style="border:none;margin:0cm;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;">Fair value of collateral received or own debt securities issued
  available for encumbrance</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=center style="border:none;margin:0cm;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;">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=43% 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=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;">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=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;">48</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=43% 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=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;">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=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 width=43% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=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;">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=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;">38</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=43% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=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;">-</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;">8</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;">10</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=43% 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=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;">-</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=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;">-</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-96</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:.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>

<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;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=center style="border:none;margin:0cm;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;">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=center style="border:none;margin:0cm;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;">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=center style="border:none;margin:0cm;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;">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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_ddcb47c32e19449f85ff569c7"></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;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, 2020, 2019 and
2018, financial liabilities issued related to encumbered assets in financial
transactions as well as their book value were as follows:</font></font><a name="XBRL_TS_ddcb47c32e19449f85ff569c7_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_091_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=7 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 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="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:6.5pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 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:8.0pt;">2020</font></b></font></p>
  </td>
 <td colspan=2 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:8.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=2 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:8.0pt;">2018</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:6.5pt;">&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:8.0pt;">131,352</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:8.0pt;">147,523</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=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;">135,500</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;">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>
 </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:8.0pt;">16,611</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:8.0pt;">16,348</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=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;">20,004</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;">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>
 </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:8.0pt;">98,668</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;">111,726</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=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;">94,240</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;">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>
 </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;">Outstanding
  subordinated debt</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;">16,073</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;">19,449</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;">17,280</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;">21,256</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;">18,538</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;">22,775</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:8.0pt;">653</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:8.0pt;">5,202</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=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;">4,788</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;">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>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><a name="Nota_8"></a><a name="_Toc341276318"></a><a name="Nota_8_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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_1a4fc273c3fc4880a38adc61d"></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;line-height:115%;">8. 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 following the IFRS 13 principles: Fair
value is the price that would be received to sell an asset or paid to transfer
a liability in an orderly transaction between market participants in the
principal market or most advantageous market, at the measurement 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%;">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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_338"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 support, 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%;">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;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 process for determining the fair value requires the
classification of the financial assets and liabilities according to the
measurement processes used as set forth below:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">Level 1: Valuation using directly
the quotation of the instrument, observable and readily and regularly available
from independent price sources and referenced to active markets that the entity
can access at the measurement date. The instruments classified within this
level are fixed-income securities, equity instruments and certain derivatives. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">Level 2: Valuation of financial
instruments with commonly accepted techniques that use inputs obtained from
observable data in markets. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">Level 3: Valuation of financial
instruments with valuation techniques that use significant unobservable inputs
in the market. As of December 31, 2020, the affected instruments at fair value
accounted for approximately 0.55% of financial assets and 0.40% 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: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:10.0pt;">8.1.
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;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 fair value of
the Group&#8217;s financial instruments in the accompanying consolidated balance
sheets and its corresponding carrying amounts, as of December 31, 2020, 2019
and 2018 are presented below:</font></font><a name="XBRL_TS_1a4fc273c3fc4880a38adc61d_bclEnd"></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%;"> &nbsp;</font></font></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=8 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=35% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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=#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=19% 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;">2020</font></b></font></p>
  </td>
 <td colspan=2 width=18% 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;">2019</font></b></font></p>
  </td>
 <td colspan=2 width=18% 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;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=35% 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=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=#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: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;">Carrying amount</font></b></font></p>
  </td>
 <td width=9% 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;">Fair value</font></b></font></p>
  </td>
 <td width=9% 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;">Carrying amount</font></b></font></p>
  </td>
 <td width=9% 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;">Fair value</font></b></font></p>
  </td>
 <td width=9% 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;">Carrying amount</font></b></font></p>
  </td>
 <td width=9% 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;">Fair value</font></b></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=#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=10% 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=10% 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=9% 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=9% 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=9% 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=9% 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=9% 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=35% 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=10% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">9</font></font></p>
  </td>
 <td nowrap width=10% 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;">65,520</font></font></p>
  </td>
 <td nowrap width=9% 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;">65,520</font></font></p>
  </td>
 <td nowrap width=9% 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=9% 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=9% 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=9% 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=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 lang=EN-US style="font-size:7.0pt;">Financial
  assets held for trading</font></font></p>
  </td>
 <td nowrap 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;">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:7.0pt;">108,257</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">108,257</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">101,735</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">101,735</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">89,103</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">89,103</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;">Non-trading
  financial assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap 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;">11</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:7.0pt;">5,198</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">5,198</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">5,557</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">5,557</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">5,135</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">5,135</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td nowrap 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;">Financial assets
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap 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;">12</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:7.0pt;">1,117</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,117</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,214</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,214</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,313</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,313</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td nowrap 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;">Financial
  assets at fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap 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</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:7.0pt;">69,440</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">69,440</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">61,183</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">61,183</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">56,337</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">56,337</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=35% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">367,668</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:7.0pt;">374,267</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:7.0pt;">439,162</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:7.0pt;">442,788</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:7.0pt;">419,660</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:7.0pt;">419,857</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=35% 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=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:7.0pt;">15</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:7.0pt;">1,991</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,991</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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=#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=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=#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=10% 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=9% 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=9% 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=9% 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=9% 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=9% 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=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 lang=EN-US style="font-size:7.0pt;">Financial
  liabilities held for trading </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10</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:7.0pt;">86,488</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;">86,488</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;">88,680</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;">88,680</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;">79,761</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;">79,761</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;">Financial
  liabilities designated at fair value through profit or loss </font></font></p>
  </td>
 <td nowrap 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;">12</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:7.0pt;">10,050</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10,050</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10,010</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10,010</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">6,993</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">6,993</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">Financial
  liabilities at amortized cost </font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">22</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:7.0pt;">490,606</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">491,006</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=35% 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=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:7.0pt;">15</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:7.0pt;">2,318</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">2,318</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_f7b3dc958bd44988b6a944e9c"></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:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><a name="_Toc474142239"></a></p>
<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-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">
<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;">8.1.1. 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;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 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>

<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 as of December 31, 2020, 2019 and 2018:</font></font><a name="XBRL_TS_f7b3dc958bd44988b6a944e9c_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=10 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 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=25% style="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=27% 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;">2020</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;">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=25% 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=9% 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=9% 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=9% 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>
 <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=25% 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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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>
 <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=25% 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:6.0pt;">Financial
  assets held for trading</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">32,555</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">73,856</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 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=#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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">69,092</font></b></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=#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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">61,969</font></b></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=#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=25% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2,379</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">28,659</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1,609</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;">697</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;">32,321</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;">1,285</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;">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;">28,642</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=25% 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=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">12,790</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11,123</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <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=25% 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=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11,367</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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=25% 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;">Derivatives</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">6,019</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">34,043</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">3,530</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;">28,593</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;">109</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;">3,605</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;">25,833</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;">85</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=25% style="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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">3,826</font></b></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">381</font></b></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">992</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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="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="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="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="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="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=25% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">210</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">499</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;">82</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;">1,038</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;">25</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;">1,778</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=25% 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=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">324</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=25% 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=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3,612</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">465</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;">4,223</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</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;">103</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;">3,012</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</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;">75</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=25% style="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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">939</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">178</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=25% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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;">-</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;">-</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=25% 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=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">939</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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;">1,214</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=25% 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=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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;">-</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;">-</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:16.5pt;">
  <td nowrap width=25% style="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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">60,976</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">7,866</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">598</font></b></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=#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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=25% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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;">33</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;">33</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=25% 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=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">59,982</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">7,832</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">493</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=25% 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=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 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;">1,794</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;">146</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;">480</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;">2,003</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;">113</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;">479</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=25% 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 style="font-size:6.0pt;">Derivatives &#8211; Hedge
  accounting</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">120</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">1,862</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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</font></b></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=#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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=25% 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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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>
 <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=25% 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:6.0pt;">Financial
  liabilities held for trading </font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">27,587</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">58,045</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">856</font></b></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=#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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">61,588</font></b></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=#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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">56,560</font></b></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=#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=25% 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;">Deposits</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">8,381</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">23,495</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">621</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;">9,595</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;">32,121</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;">649</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;">7,989</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;">29,945</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=25% 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=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">7,402</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">34,046</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">232</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;">29,466</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;">26,615</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=25% 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;">Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11,805</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">504</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=25% style="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=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=#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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">8,558</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,492</font></b></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=#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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">8,629</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,382</font></b></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=#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="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">3,149</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">3,844</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=25% 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;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">902</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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;">944</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;">976</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=25% 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=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3,038</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1,492</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;">3,274</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;">1,382</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;">1,529</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;">1,329</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=25% 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;">Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4,617</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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;">4,410</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;">643</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;">2,515</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=25% 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 style="font-size:6.0pt;">Derivatives &#8211; Hedge
  accounting</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">53</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">2,250</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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</font></b></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=#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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 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_a3f47590b8464292bd8047006"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&#160;&nbsp;</font></font><a name="XBRL_FS_e7c31a4a5f50462c96aeb356e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) The information for the
years 2019 and 2018 has been subject to certain modifications, related to some
issuances of Garanti Group</font></font><a name="XBRL_FS_e7c31a4a5f50462c96aeb356e_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-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">
<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 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, 2020, 2019 and 2018:</font></font><a name="XBRL_TS_a3f47590b8464292bd8047006_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_8.2_NIVELES1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=10 nowrap width=100% style="background:#E9E9E9;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 2020
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#0A5FB4 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 colspan=2 width=18% 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;">2020</font></b></font></p>
  </td>
 <td colspan=2 width=18% 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;">2019</font></b></font></p>
  </td>
 <td colspan=2 width=18% 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;">2018</font></b></font></p>
  </td>
 <td width=9% 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=9% 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=9% 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>
 </tr>
<tr style="height:.75pt;">
  <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:.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=9% style="border:none;border-bottom:solid black 1.0pt;height:.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:5.0pt;">Level 2</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:.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:5.0pt;">Level 3</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:.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:5.0pt;">Level 2</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:.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:5.0pt;">Level 3</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:.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:5.0pt;">Level 2</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:.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:5.0pt;">Level 3</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:.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:5.0pt;">Valuation technique(s)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:.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:5.0pt;">Observable inputs</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:.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:5.0pt;">Unobservable inputs</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=19% 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=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">73,856</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">1,847</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">69,092</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">1,508</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">61,969</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% 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 rowspan=2 width=9% 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=9% 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=19% 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=9% 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:5.0pt;">28,659</font></font></p>
  </td>
 <td width=9% 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:5.0pt;">1,609</font></font></p>
  </td>
 <td width=9% 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:5.0pt;">32,321</font></font></p>
  </td>
 <td width=9% 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:5.0pt;">1,285</font></font></p>
  </td>
 <td width=9% 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:5.0pt;">28,642</font></font></p>
  </td>
 <td width=9% 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:5.0pt;">60</font></font></p>
  </td>
 <td width=9% 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=19% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Debt securities </font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">11,123</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">57</font></font></p>
  </td>
 <td 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 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=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 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=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 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=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 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=9% 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=9% 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=9% 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=19% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Equity instruments </font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">31</font></font></p>
  </td>
 <td 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 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=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 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=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 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=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 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=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 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=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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;">Net asset value</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">34,043</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">121</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">28,593</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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 nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">25,833</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% 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=9% 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=9% 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=19% style="height:49.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">Interest rate</font></font></p>
  </td>
 <td nowrap width=9% style="height:49.5pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:49.5pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% 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 and 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 and 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 and 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 and 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=9% 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;">- 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;">- 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;">- 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;">- 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;">- Market
  observable volatilities </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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
  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;">- 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;">- Market listed
  correlations</font></font></p>
  </td>
 <td width=9% 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=19% style="height:33.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">Equity</font></font></p>
  </td>
 <td nowrap width=9% style="height:33.0pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:33.0pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=9% 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=9% 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=9% 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=9% 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=9% 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=19% style="height:24.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td nowrap width=9% style="height:24.75pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:24.75pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% 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=9% 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=19% style="height:41.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">Credit</font></font></p>
  </td>
 <td nowrap width=9% style="height:41.25pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:41.25pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=9% 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=9% 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=9% 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=9% 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=9% 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=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">Commodities</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% 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=9% 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=19% style="border:none;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=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">381</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">992</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#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=9% 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=#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=9% 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=#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=9% 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=#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=9% style="border:none;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=9% style="border:none;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=9% style="border:none;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=19% style="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=9% style="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=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=9% style="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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">499</font></font></p>
  </td>
 <td width=9% style="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=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=9% style="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=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=9% style="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=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=9% style="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=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=9% style="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=9% style="background:#D9D9D9;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=9% style="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=19% 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=9% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">324</font></font></p>
  </td>
 <td width=9% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">28</font></font></p>
  </td>
 <td width=9% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">91</font></font></p>
  </td>
 <td width=9% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">19</font></font></p>
  </td>
 <td width=9% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">71</font></font></p>
  </td>
 <td width=9% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">76</font></font></p>
  </td>
 <td width=9% 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=9% 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=9% 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=19% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Equity instruments</font></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">57</font></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">465</font></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% 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;">103</font></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% 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;">75</font></font></p>
  </td>
 <td width=9% 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;">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;">Net asset value</font></font></p>
  </td>
 <td width=9% 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;">- 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=9% 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;">- NAV provided
  by the administrator of the fund</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=19% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 designated at fair value through profit or loss</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">178</font></b></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=#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=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=#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=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=#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=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=#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=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=#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 rowspan=2 width=9% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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 rowspan=2 width=9% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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 rowspan=2 width=9% style="background:#D9D9D9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.5pt;">
  <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">178</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% 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 at fair value through other comprehensive income</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">7,866</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">598</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">9,203</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">1,084</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=19% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Debt securities</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">7,832</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">493</font></font></p>
  </td>
 <td 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 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=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 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=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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9,221</font></font></p>
  </td>
 <td 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 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=9% 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=9% 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 market
  prices</font></font></p>
  </td>
 <td width=9% 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 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=19% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Equity instruments</font></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">34</font></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">105</font></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=9% 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;">480</font></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% 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=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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;">Net asset value</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=19% 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 style="font-size:5.0pt;">Hedging derivatives</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">1,862</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">8</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">1,685</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% 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=9% 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=9% 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>
 </tr>
<tr style="height:49.5pt;">
  <td nowrap width=19% style="height:49.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">Interest rate</font></font></p>
  </td>
 <td nowrap width=9% style="height:49.5pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:49.5pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% 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 and 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 and 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 and 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 and 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=9% 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;">- 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;">- 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;">- 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;">- 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;">- Market
  observable volatilities </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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
  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;">- 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;">- Market listed
  correlations</font></font></p>
  </td>
 <td width=9% style="background:#D9D9D9;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=19% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">Equity</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=9% 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=9% 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=9% 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=9% 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=9% 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=19% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=9% 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=9% 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=9% 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=9% 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=9% 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=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">Credit</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% 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=9% 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=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">Commodities</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 9.0pt 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;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% 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=9% 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>



<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:107%;">&nbsp;</font></font></p>
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<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=10 nowrap width=100% style="background:#E9E9E9;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.(Millions of
  Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=15% style="background:#E9E9E9;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <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;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:8.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:8.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:8.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:8.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;height:8.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;height:8.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;height:8.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;height:8.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;height:8.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom 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 lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">2020</font></b></font></p>
  </td>
 <td colspan=2 width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=2 width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">2018</font></b></font></p>
  </td>
 <td nowrap width=9% 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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap 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;"><b><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=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:5.0pt;">Level 2</font></b></font></p>
  </td>
 <td rowspan=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:5.0pt;">Level 3</font></b></font></p>
  </td>
 <td rowspan=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:5.0pt;">Level 2</font></b></font></p>
  </td>
 <td rowspan=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:5.0pt;">Level 3</font></b></font></p>
  </td>
 <td rowspan=2 width=9% 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=9% 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=9% 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=9% 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=9% 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=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=#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=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=#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=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:5.0pt;">&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:5.0pt;">&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:5.0pt;">&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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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=#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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">58,045</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">856</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">61,588</font></b></font></p>
  </td>
 <td 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=#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 width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">56,560</font></b></font></p>
  </td>
 <td width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=9% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=15% style="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=10% style="height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">23,495</font></font></p>
  </td>
 <td width=10% style="height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">621</font></font></p>
  </td>
 <td width=10% style="height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=10% style="height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=9% style="height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=9% style="height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=9% style="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=9% style="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;">- Exchange rates</font></font></p>
  </td>
 <td width=9% style="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=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 style="font-size:5.0pt;">Derivatives</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:5.0pt;">34,046</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:5.0pt;">232</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:5.0pt;">29,466</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:5.0pt;">175</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">26,615</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% 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=9% 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=9% 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=15% 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=10% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=10% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=10% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=10% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% 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 </font><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">(Interest rate Swaps, call money Swaps and FRA</font></i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">): 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 and 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 and 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 and 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=9% 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;">- 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;">- 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;">- 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;">- 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;">- Market
  observable volatilities </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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
  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;">- 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;">- Market listed
  correlations</font></font></p>
  </td>
 <td width=9% 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=15% 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=10% 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=10% 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=10% 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=10% 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=9% 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=9% 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=9% 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=9% 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=15% 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=10% 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=10% 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=10% 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=10% 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=9% 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=9% 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=9% 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=9% 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=15% 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=10% 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=10% 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=10% 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=10% 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=9% 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=9% 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=9% 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=9% 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=15% 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=10% 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 width=10% 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 width=10% 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 width=10% 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 width=9% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% 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=9% 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=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 style="font-size:5.0pt;">Short positions </font></font></p>
  </td>
 <td nowrap 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">504</font></font></p>
  </td>
 <td nowrap 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=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="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 nowrap 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=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="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;">-</font></font></p>
  </td>
 <td nowrap 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=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=9% 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=9% style="background:#D9D9D9;border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=9% 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=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=#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=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:5.0pt;">8,558</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:5.0pt;">1,492</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:5.0pt;">8,629</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:5.0pt;">1,382</font></b></font></p>
  </td>
 <td nowrap width=9% 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;">3,149</font></b></font></p>
  </td>
 <td nowrap width=9% 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;">3,844</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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=#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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">2,250</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">15</font></b></font></p>
  </td>
 <td 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=#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=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=#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 width=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% 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=9% 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=9% 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>
 </tr>
<tr style="height:49.5pt;">
  <td nowrap width=15% 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=10% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=10% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=10% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=10% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% 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 and 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 and 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 and 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 and 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=9% 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;">- 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;">- 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;">- 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;">- 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;">- Market
  observable volatilities </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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
  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;">- 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;">- Market listed
  correlations</font></font></p>
  </td>
 <td width=9% 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;">- 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=15% 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=10% 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=10% 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=10% 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=10% 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=9% 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=9% 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=9% 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=9% 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=15% 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=10% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=10% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=10% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=10% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% 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=9% 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=15% 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=10% 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=10% 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=10% 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=10% 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=9% 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=9% 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=9% 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=9% 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=15% 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=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% 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=9% 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>



<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_d98545613c7941f690fe05e21"></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%;">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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">Comparable prices (similar asset
prices): This input represents the prices of comparable financial instruments
and benchmarks used to calculate a reference yield based on relative movements
from the entry price or current market levels. Further adjustments to account
for differences that may exist between financial instrument being valued and
the comparable financial instrument may be added. It can also be assumed that
the price of the financial instrument is equivalent to the comparable instrument.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-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 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 technique
utilizes certain assumptions to use net asset value as representative of fair
value, which is equal to the total value of the assets and liabilities of a
fund published by the managing entity.</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%;">Gaussian copula: This model is used
to integrate default probabilities of credit instruments referenced to more
than one underlying CDS. The joint density function used to value the
instrument is constructed by using a Gaussian copula that relates the marginal
densities by a normal distribution, usually extracted from the correlation
matrix of events approaching default by CDS issuers.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-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 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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">Black Scholes: The Black Scholes
model postulates log-normal distribution for the prices of securities, so that
the expected return under the risk neutral measure is the risk free interest
rate. Under this assumption, the price of vanilla options can be obtained
analytically, so that inverting the Black- Scholes formula, the implied
volatility for process of the price can be calculated.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-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 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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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 applied
in rate/credit hybrid operative. 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:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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_d98545613c7941f690fe05e21_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_456c48af41e9433d88d267004"></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%;">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;line-height:115%;">Under IFRS 13 the credit risk valuation
adjustments must be considered in the classification of assets and liabilities
within fair value hierarchy, because of the absence of 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 master agreement), 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%;">Credit Valuation Adjustment
(hereinafter &#8220;CVA&#8221;) and Debit Valuation Adjustments (hereinafter &#8220;DVA&#8221;) are
included in the valuation of derivatives, both assets and liabilities, to
reflect the impact on the fair value of the counterparty credit risk and its
own, respectively. The Group incorporates in its valuation, for all exposures
classified in any of the categories valued at fair value, both the counterparty
credit risk and its own. In the trading portfolio, and in the specific case of
derivatives, credit risk is recognized through such adjustments.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 the sum of the expected positive exposure in time t, the probability
of default between t-1 and t, and the Loss Given Default of the counterparty.
Consequently, the DVA is calculated as the sum of the expected negative
exposure in time t, the probability of default of BBVA between t-1 and t, and
the Loss Given Default of BBVA. Both calculations are performed throughout the
entire period of potential 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 calculation of the expected
positive and negative exposure is done through a Montecarlo simulation of the
market variables involved in all trades&#8217; valuation under the same legal netting
set. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font 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 probability of default and the loss given default of a counterparty comes
from the credit markets. The counterparty&#8217;s Credit Default Swaps are used if
liquid quotes are available. If a market price is not available, BBVA has
implemented a mapping process based on the sector, rating and geography of the
counterparty to assign probabilities of default and loss given default
calibrated directly to market.</font></font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-102</font></font><font 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">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font 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, 2020, 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;-142 million,
&#8364;-106 and &#8364;-163 million respectively, and the valuation adjustments to the
derivative liabilities as &#8220;Debit Valuation Adjustment&#8221; (DVA) was &#8364;124 million,
&#8364;117 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 31, 2020, 2019 and 2018
corresponding to the mentioned adjustments was a net impact of &#8364;-29 million,
&#8364;67 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 31,
2020, 2019 and 2018, &#8364;-9, &#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;-1 million, &#8364;4 and &#8364;-2 million,
respectively.</font></font><a name="XBRL_TS_456c48af41e9433d88d267004_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_b250838de3504bad89ea1a60e"></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%;">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, 2020, 2019 and 2018:</font></font><a name="XBRL_TS_b250838de3504bad89ea1a60e_bclEnd"></a></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:12.5pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;height:12.5pt;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;">Unobservable
  inputs. December 2020</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=21% 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;">Financial instrument</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;">Valuation technique(s)</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">Average</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;">Max</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;">Units</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td rowspan=3 width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 rowspan=3 width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Present value method</font></font></p>
  </td>
 <td width=15% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">4.32</font></font></p>
  </td>
 <td 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;">47.01</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;">564.22</font></font></p>
  </td>
 <td 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;">b.p.</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">37.06%</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=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>
 </tr>
<tr style="height:18.75pt;">
  <td width=15% 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;">0.10%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">99.92%</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;">143.87%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td rowspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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/Fund
  instruments (*)</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Net Asset Value</font></font></p>
  </td>
 <td width=15% style="background:#E9E9E9;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 colspan=4 rowspan=2 width=50% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td nowrap width=14% 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=15% 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>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=21% 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;">Security Finance</font></font></p>
  </td>
 <td width=14% 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;">Present value method</font></font></p>
  </td>
 <td width=15% 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;">Repo funding curve</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;">(1.00%)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.00%</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;">1.00%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Abs Repo rate</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td rowspan=2 width=21% 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 Derivatives</font></font></p>
  </td>
 <td width=14% 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=15% 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;">30.40%</font></font></p>
  </td>
 <td width=12% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">44.87%</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;">60.95%</font></font></p>
  </td>
 <td width=12% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=14% 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=15% 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 colspan=3 width=38% 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=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Vegas</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap rowspan=3 width=21% 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 Derivatives</font></font></p>
  </td>
 <td rowspan=3 width=14% 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;">Option models
  on equities, baskets of equity, funds</font></font></p>
  </td>
 <td width=15% 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;">Dividends (**)</font></font></p>
  </td>
 <td colspan=4 width=50% style="background:#E9E9E9;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 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=15% 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;">Correlations</font></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 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=12% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=15% 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;">6.52</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">29.90</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">141.77</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Vegas</font></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">FX Derivatives</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Option models
  on FX underlyings</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><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: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;">4.11</font></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10.00</font></font></p>
  </td>
 <td width=13% 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;">16.14</font></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:22.5pt;">
  <td rowspan=3 width=21% 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;">IR Derivatives</font></font></p>
  </td>
 <td rowspan=3 width=14% 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;">Option models
  on IR underlyings</font></font></p>
  </td>
 <td width=15% 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=12% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=12% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=15% 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=12% 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>
 <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=12% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=15% 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 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;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Vegas</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_e976f653505c42bb864249feb"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) Due to
the diversity of valuation models of equity valuations, we would
not&nbsp;include all the unobservable inputs or the quantitative ranges of
them.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:21.25pt;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 unobservable
dividends is too wide range to be relevant.</font></font><a name="XBRL_TS_e976f653505c42bb864249feb_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>


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</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 align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.2_002_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.5pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;height:12.5pt;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;">Unobservable inputs. December 2019</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=22% 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;">Financial instrument</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;">Valuation technique(s)</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">Average</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;">Max</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;">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=14% 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=15% 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=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;">16</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">100</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=3 width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Comparable pricing</font></font></p>
  </td>
 <td width=15% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=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;">83</font></font></p>
  </td>
 <td 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;">504</font></font></p>
  </td>
 <td 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;">b.p.</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">28.38%</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">40.00%</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=15% 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=12% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">98.31%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">135.94%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 rowspan=2 width=14% 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;">Comparable
  pricing</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Net asset value</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 rowspan=2 width=49% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=15% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</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;">Credit option</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=15% 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;">Correlation default</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;">19.37%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">44.33%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">61.08%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=14% 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=15% 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=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=14% 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=15% 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=12% 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=12% 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=12% style="border:none;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Vegas</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td rowspan=2 width=14% 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=15% 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=49% style="background:#E9E9E9;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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=15% 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=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;">23.21</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">60.90</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=14% 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=15% 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=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;">6.30</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10.05</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=14% 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=15% 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=12% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2.00</font></font></p>
  </td>
 <td width=12% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">18.00</font></font></p>
  </td>
 <td width=12% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=15% 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=12% 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=12% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">100</font></font></p>
  </td>
 <td width=12% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=15% 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=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Vegas</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_9ce62fcf3e4549b7a58d7b211"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) Due to
the diversity of valuation models of equity valuations, we would
not&nbsp;include all the unobservable inputs or the quantitative ranges of
them.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:21.25pt;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 unobservable
dividends is too wide range to be relevant.</font></font><a name="XBRL_TS_9ce62fcf3e4549b7a58d7b211_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.2_003_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.5pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.5pt;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;">Unobservable
  inputs. December 2018</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=22% 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;">Financial instrument</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=15% 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;">Significant unobservable inputs</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;">Min</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;">Average</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;">Max</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;">Units</font></b></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=3 width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Comparable pricing</font></font></p>
  </td>
 <td width=15% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Credit spread</font></font></p>
  </td>
 <td 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;">37</font></font></p>
  </td>
 <td 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;">152</font></font></p>
  </td>
 <td 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;">385</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;">b.p.</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">0.00%</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">32.06%</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">40.00%</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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=15% 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=12% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1.00%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">88.00%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">275.00%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 rowspan=2 width=15% 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;">Comparable
  pricing</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Net asset value</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 rowspan=2 width=48% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=15% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</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;">Credit option</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=15% 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;">Correlation default</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.00%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">37.98%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">60.26%</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% 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=15% 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=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% 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=15% 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=12% 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;">47.05</font></font></p>
  </td>
 <td width=12% 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;">47.05</font></font></p>
  </td>
 <td width=12% 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;">47.05</font></font></p>
  </td>
 <td width=12% 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=15% 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=15% 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=48% 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=15% 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=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;">13.79</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">27.24</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">65.02</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% 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=15% 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=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;">5.05</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7.73</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9.71</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% 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=15% 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=12% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.25</font></font></p>
  </td>
 <td width=12% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9.00</font></font></p>
  </td>
 <td width=12% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">18.00</font></font></p>
  </td>
 <td width=12% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=15% 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=12% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(100)</font></font></p>
  </td>
 <td width=12% 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=12% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">100</font></font></p>
  </td>
 <td width=12% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=15% 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=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Vegas</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_1abcdb67e51d42e5b0e7e9e32"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) Due to
the diversity of valuation models of equity valuations, we would
not&nbsp;include all the unobservable inputs or the quantitative ranges of
them.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:21.25pt;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 unobservable
dividends is too wide range to be relevant.</font></font><a name="XBRL_TS_1abcdb67e51d42e5b0e7e9e32_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-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">
<p style="border:none;margin-bottom:12.0pt;margin-left:21.25pt;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;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_07bbaf59284a47ea94b565e27"></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%;">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_07bbaf59284a47ea94b565e27_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;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=38% 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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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 colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:15.0pt;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:13.5pt;">
  <td nowrap valign=bottom width=38% 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=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=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=38% style="background:#5AC4C4;border:none;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;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;">3,754</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,220</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=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;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;">4,115</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=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;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;">1,386</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">609</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">293</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">112</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">71</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(167)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(28)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(89)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(699)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(393)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">595</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,102</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,710</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">549</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">287</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">77</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(2,751)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">761</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">47</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(160)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(35)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">31</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">189</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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;Discontinued operations
  (***)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(518)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=38% style="background:#5AC4C4;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;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;">3,446</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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;">2,363</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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;">3,754</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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;">2,219</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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;">4,115</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:0pt;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;<a name="XBRL_TS_a87d9a8c2d914b89bebb6818f"></a><a name="XBRL_FS_93eda442fd844ff8bf2aefb7f"></a>(*)&#160;&#160;&#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, 2020, 2019 and 2018. Valuation adjustments
are recorded under the heading &#8220;Gains (losses) on financial assets and
liabilities (net)&#8221;.<a name="XBRL_FS_93eda442fd844ff8bf2aefb7f_bclEnd"></a></font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:0pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_1160b6de76de44aeb07c5c8c8"></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;&#160;&#160; Of
which, in 2020, the assets roll forward is comprised of &#8364;326 million of
acquisitions, &#8364;1,014 million of disposals and &#8364;11 million of liquidations. The
liabilities roll forward is comprised of &#8364;115 million of acquisitions, &#8364;449
million of sales and &#8364;11 million of liquidations.</font></font><a name="XBRL_FS_1160b6de76de44aeb07c5c8c8_bclEnd"></a></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:21.25pt;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_f06a4bce603840039419371b4"></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;&#160;&#160; Amount
in 2020 are mainly due to the stake in BBVA USA (see Notes 3 and 21).</font></font><a name="XBRL_FS_f06a4bce603840039419371b4_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">During the 2020 financial year, the level of significance of the unobservable inputs used to determine the fair value hierarchy of loans and advances to customers at amortized cost has been reviewed, resulting in a greater exposure classified as Level 3. This review has been carried out in the context of availability of new information, more adjusted to the changes that have occurred both in market conditions and in the composition of the credit portfolio. The effect on the consolidated results and solvency ratios, resulting from this review, does not represent any change (see Note 8.2).</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%;">During 2019, certain interest rate yields were adapted to those
observable in the market, which mainly affected 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, as a
result thereof, their classification changed from Level 3 to Level 2.
Additionally, &#8364;1,285 million in assets held for trading and &#8364;649 million in
liabilities held for trading were classified in Level 3, 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 their 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, 2020, 2019 and 2018, the profit/loss on sales
of financial instruments classified as Level 3 recognized in the accompanying
consolidated income statement was not material.</font></font></p>

<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;line-height:115%;">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 an appropriate
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 years ended December 31, 2020, 2019 and 2018 are at the following amounts
in the accompanying consolidated balance sheets as of December 31, 2020, 2019
and 2018:</font></font><a name="XBRL_TS_a87d9a8c2d914b89bebb6818f_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;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 2020 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=27% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=5% 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=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;">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=27% 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=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=#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=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:6.0pt;">Level 2</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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;">Level2</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=27% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=5% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=27% 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=5% 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=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:6.0pt;">1,460</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:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">203</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;">548</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;">4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">98</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=27% 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=5% 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=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:6.0pt;">9</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:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">-</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;">17</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=27% 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=5% 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=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:6.0pt;">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: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=27% 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=5% 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=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:6.0pt;">484</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: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;">135</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;">96</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;">6</font></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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Derivatives &#8211; Hedge accounting</font></font></p>
  </td>
 <td nowrap width=5% 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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=27% 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=5% 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=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;">2,096</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;">23</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;">342</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;">652</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;">4</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;">122</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=27% 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=5% 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=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;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=27% 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 held for trading</font></font></p>
  </td>
 <td nowrap width=5% 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:6.0pt;">&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:6.0pt;">8</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;">3</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">268</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;">13</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=27% 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
  liabilities designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=5% 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=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:6.0pt;">-</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: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;">56</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;">27</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=27% 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;">Derivatives &#8211; Hedge
  accounting</font></font></p>
  </td>
 <td nowrap width=5% 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:6.0pt;">&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: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=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:8.25pt;">
  <td width=27% style="background:#5AC4C4;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=5% style="background:#5AC4C4;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=12% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">324</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_346"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.1_17_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=14 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 lang=EN-US style="font-size:6.0pt;">Transfer
  between levels (Millions of Euros).</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=21% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=4% 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=#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=6 width=39% 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=6 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:6.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=21% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=4% 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=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=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:6.0pt;">Level 2</font></b></font></p>
  </td>
 <td colspan=2 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=#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 colspan=2 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=#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=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=#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=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=#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=21% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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=4% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;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=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=#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=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=#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=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=#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=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=#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=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=#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=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=#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>
 <td 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=#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=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=#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=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=#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=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=#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=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=#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=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=#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=21% style="border:none;border-bottom:solid 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=4% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% 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=7% 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=7% 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=6% 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=6% 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=6% 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=6% 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=6% 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=6% 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=6% 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=6% 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=6% 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=21% 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=4% 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=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:6.0pt;">74</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:6.0pt;">-</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:6.0pt;">1,119</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:6.0pt;">Non-trading
  financial assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=4% 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=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;">-</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=6% 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=6% 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=6% 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>
 <td nowrap width=6% 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=6% 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=6% 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=6% 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=6% 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=6% 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=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:6.0pt;">Financial
  assets designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=4% 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=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;">-</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=6% 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=6% 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=6% 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=6% 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=6% 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=6% 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=6% 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=6% 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=6% 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=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:6.0pt;">Financial
  assets at fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=4% 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=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;">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;">4</font></font></p>
  </td>
 <td nowrap width=6% 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=6% 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=6% 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>
 <td nowrap width=6% 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=6% 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=6% 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=6% 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=6% 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=6% 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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 &#8211; Hedge
  accounting</font></font></p>
  </td>
 <td nowrap width=4% 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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;">-</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=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=6% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:8.25pt;">
  <td width=21% style="background:#5AC4C4;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=4% style="background:#5AC4C4;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=7% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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:6.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=4% 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=7% 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=7% 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=7% 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=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;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height: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=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;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height: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=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;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height: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=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;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height: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=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;"><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=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:6.0pt;">Financial
  liabilities held for trading</font></font></p>
  </td>
 <td nowrap width=4% 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:6.0pt;">&nbsp;</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;">1</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;">-</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;">-</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:6.0pt;">-</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:6.0pt;">-</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:6.0pt;">-</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:6.0pt;">-</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:6.0pt;">-</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:6.0pt;">-</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:6.0pt;">138</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:6.0pt;">-</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:6.0pt;">37</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:6.0pt;">Financial
  liabilities designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=4% 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=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;">-</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=6% 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=6% 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=6% 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;">2,679</font></font></p>
  </td>
 <td nowrap width=6% 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=6% 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=6% 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=6% 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=6% 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=6% 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: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:6.0pt;">Derivatives &#8211; Hedge
  accounting</font></font></p>
  </td>
 <td nowrap width=4% 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:6.0pt;">&nbsp;</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;">-</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;">-</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;">-</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:6.0pt;">27</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:6.0pt;">-</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:6.0pt;">125</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:6.0pt;">-</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:6.0pt;">-</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:6.0pt;">-</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:6.0pt;">-</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:6.0pt;">-</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:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% style="background:#5AC4C4;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=4% style="background:#5AC4C4;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=7% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=6% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_56816d8d35e342cdabd9b4957"></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, 2020, is not material relative to the total
portfolios, and corresponds to the above changes in the classification between
levels these financial instruments modified some of their features,
specifically:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-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 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%;">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: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%;">Transfers from Level 2 to Level 3
are mainly due to transactions of financial assets held for trading,
non-trading financial assets mandatorily valued at fair value, hedging
derivatives, financial liabilities held for trading and financial liabilities
designated at fair value through profit or 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=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%;">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;line-height:115%;">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 valuation 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, 2020, 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_56816d8d35e342cdabd9b4957_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;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: Sensitivity analysis (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:35.25pt;">
  <td nowrap valign=bottom width=34% style="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:18.0pt;">
  <td width=34% 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:8.0pt;">Financial
  assets held for trading</font></font></p>
  </td>
 <td nowrap width=17% 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:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=17% 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:8.0pt;">(40)</font></font></p>
  </td>
 <td nowrap width=16% 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:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% 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:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=34% style="height:19.5pt;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: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=#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: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=#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: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=#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: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=#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:20.25pt;">
  <td width=34% 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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=17% 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=#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: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=#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=16% 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=#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: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=#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;">(31)</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;">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;">(3)</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;">229</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;">(60)</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;">204</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;">(29)</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;">15</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;">(15)</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;">9</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;">(16)</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="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="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;">22</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;">(23)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% style="background:#5AC4C4;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">239</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>




<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<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=ES style="font-size:8.0pt;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_0c9c5b3904a34c6bb649c8d76"></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%;">8.2 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 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: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%;">Cash, balances at central banks and
other demand deposits / loans to central banks / short-term loans to credit
institutions/ Repurchase agreements: in general, their fair value is
assimilated to their book value, due to the nature of the counterparty and
because they are mainly short-term balances in which the book value is the most
reasonable estimation of the value of the asset.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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;</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 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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">Debt securities: Fair value
estimated based on the available market price or by using internal valuation
methodologies.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;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:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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;</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%;">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:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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;</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%;">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;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 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 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, 2020, 2019 and 2018, broken down according to the method of
valuation used for the estimation:</font></font><a name="XBRL_TS_0c9c5b3904a34c6bb649c8d76_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=10 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 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=28% style="height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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: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;">2020</font></b></font></p>
  </td>
 <td colspan=3 width=24% 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=24% 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=28% 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=8% 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=#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:18.0pt;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 width=8% 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:18.0pt;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 width=8% 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=#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:18.0pt;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>
 <td width=8% 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=#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:18.0pt;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 width=8% 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=#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=28% 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>
 <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:16.5pt;">
  <td width=28% 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=8% 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;">65,355</font></font></p>
  </td>
 <td nowrap width=8% 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=8% 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;">165</font></font></p>
  </td>
 <td nowrap width=8% 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=8% 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=8% 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=8% 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=8% 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=8% 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=28% 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;">Financial
  assets at amortized cost</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">35,196</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">15,066</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">324,005</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=28% 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=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=#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: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=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=#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: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=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=#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: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=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=#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: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=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=#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=28% 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=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;">90,839</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;">255,278</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;">144,889</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;">67,229</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;">289,599</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;">159,082</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;">58,225</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;">269,128</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;">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:6.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_72d22e1222cb4502815268b33"></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, 2020, 2019 and 2018:</font></font><a name="XBRL_TS_72d22e1222cb4502815268b33_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=9 nowrap width=100% style="background:#E9E9E9;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 2020 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=14% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 colspan=2 width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2020</font></b></font></p>
  </td>
 <td colspan=2 width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td rowspan=2 width=14% style="height:13.5pt;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=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:13.5pt;">
  <td nowrap valign=bottom width=14% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 width=10% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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 width=10% style="border: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;">Level 3</font></b></font></p>
  </td>
 <td width=10% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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 width=10% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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 width=10% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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 width=10% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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>
 </tr>
<tr style="height:12.0pt;">
  <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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: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 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 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=#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: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=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=#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: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=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 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;"><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=14% 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=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:8.0pt;">15,066</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:8.0pt;">324,005</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:8.0pt;">217,279</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:8.0pt;">196,119</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:8.0pt;">204,619</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:8.0pt;">193,819</font></b></font></p>
  </td>
 <td rowspan=5 width=14% 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=#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 align=right style="border:none;margin:0cm;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;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=12% 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=14% 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=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;">-</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;">2</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;">1</font></font></p>
  </td>
 <td width=12% 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=14% 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=10% 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;">1,883</font></font></p>
  </td>
 <td nowrap width=10% 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;">12,641</font></font></p>
  </td>
 <td nowrap width=10% 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=10% 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 nowrap width=10% 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=10% 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=12% 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=14% 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=10% 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;">3,904</font></font></p>
  </td>
 <td nowrap width=10% 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;">310,924</font></font></p>
  </td>
 <td nowrap width=10% 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=10% 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 nowrap width=10% 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=10% 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=12% 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=14% 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=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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,279</font></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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">440</font></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=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=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=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 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=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=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=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=12% 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=14% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=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=#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: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=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=#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: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=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=#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: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=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 nowrap 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;"><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=14% 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=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:8.0pt;">255,278</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:8.0pt;">144,889</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:8.0pt;">289,599</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:8.0pt;">159,082</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:8.0pt;">269,128</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:8.0pt;">182,948</font></b></font></p>
  </td>
 <td nowrap width=14% 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=12% 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:21.0pt;">
  <td width=14% style="border:none;height:21.0pt;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=10% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">207</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">129</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">196</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td rowspan=5 width=14% 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=#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 align=right style="border:none;margin:0cm;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;">(Discounted future cash flows)</font></font></p>
  </td>
 <td rowspan=5 width=12% 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;">- 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:38.25pt;">
  <td width=14% style="height:38.25pt;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;">Deposits from credit
  institutions</font></font></p>
  </td>
 <td nowrap width=10% style="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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">22,914</font></font></p>
  </td>
 <td nowrap width=10% style="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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,633</font></font></p>
  </td>
 <td nowrap width=10% style="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=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=10% style="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=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=10% style="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=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=10% style="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=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:19.5pt;">
  <td width=14% style="height:19.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits from
  customers</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">210,097</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">129,525</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">245,720</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">135,514</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">240,547</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">135,270</font></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=14% style="height:17.25pt;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;">Debt certificates</font></font></p>
  </td>
 <td nowrap width=10% 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;">14,413</font></font></p>
  </td>
 <td nowrap width=10% 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;">4,848</font></font></p>
  </td>
 <td nowrap width=10% 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;">14,194</font></font></p>
  </td>
 <td nowrap width=10% 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;">11,133</font></font></p>
  </td>
 <td nowrap width=10% 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;">6,104</font></font></p>
  </td>
 <td nowrap width=10% 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;">25,096</font></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;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;">Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=10% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,854</font></font></p>
  </td>
 <td nowrap width=10% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,676</font></font></p>
  </td>
 <td nowrap width=10% 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=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=10% 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=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>
 <td nowrap width=10% 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=black face=Arial,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: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;">12,730</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-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">
<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_5a2c88e270b040e7842782465"></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;line-height:115%;">9. Cash, cash balances at central banks and other demand deposits</font></b></font><a name="XBRL_TS_5a2c88e270b040e7842782465_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_ea14b05994d24787883a0385f"></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;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_ea14b05994d24787883a0385f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalanceD_001_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 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:25.0pt;">
  <td width=52% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;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=12% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;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:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=12% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.0pt;">
  <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;">Cash on hand</font></font></p>
  </td>
 <td 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;">6,447</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;">7,060</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;">6,346</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=52% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Cash balances
  at central banks (*)</font></font></p>
  </td>
 <td 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 lang=EN-US 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;">53,079</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;">31,755</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;">43,880</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 style="font-size:8.0pt;">Other demand deposits</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=black face=Arial,sans-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;">5,994</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;">5,488</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;">7,970</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=52% style="background:#5AC4C4;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=12% style="background:#5AC4C4;height:15.0pt;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;">8.1</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">65,520</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=12% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<p style="border:none;margin-bottom:12.0pt;margin-left:1.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-1.0cm;"><a name="XBRL_FS_cade8cc08a274a76a74fc610d"></a><a name="XBRL_TS_bdd28d3a37244d3e9d4fd4646"></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 2020
is mainly due to an increase in balances of BBVA, S.A. at the Bank of Spain.</font></font><a name="XBRL_FS_cade8cc08a274a76a74fc610d_bclEnd"></a><a name="XBRL_TS_bdd28d3a37244d3e9d4fd4646_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="_Toc298431710"></a><a name="_Toc299029445"></a><a name="_Toc299031528"></a><a name="_Toc299032867"></a><a name="_Toc331260308"></a><a name="_Toc347755846"></a><a name="_Toc376949929"></a><a name="XBRL_TS_738452f7bfcf4c0c9babd5bf3"></a><a name="_Toc495478124"></a><a name="_Toc481589072"></a><a name="_Toc474142243"></a><a name="_Toc457490017"></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">
<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;line-height:115%;">10. Financial assets and
liabilities held for trading</font></b></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;line-height:115%;">10.1. 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_738452f7bfcf4c0c9babd5bf3_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:10.5pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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 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:21.0pt;">
  <td 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=#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: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;">2020</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>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap 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=#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:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:10.5pt;">
  <td nowrap 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 style="font-size:8.0pt;">Derivatives (*)</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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">40,183</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;">32,232</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;">29,523</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7.2.2</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;">11,458</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=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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Credit institutions</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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">633</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Other sectors</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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">10,824</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7.2.2</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;">23,970</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">26,309</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Issued by central
  banks</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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,011</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Issued by public
  administrations</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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">19,942</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Issued by financial
  institutions</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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,479</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Other debt
  securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,538</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7.2.2</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;">32,647</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">34,303</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 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>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to central banks</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=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:10.5pt;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;">53</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=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=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=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>
 </tr>
<tr style="height:11.0pt;">
  <td nowrap width=56% style="height:11.0pt;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;">Reverse repurchase
  agreement (**)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.0pt;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:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=11% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=11% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to credit institutions</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=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:10.5pt;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;">20,499</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=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=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=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>
 </tr>
<tr style="height:11.0pt;">
  <td nowrap width=56% style="height:11.0pt;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;">Reverse repurchase
  agreement (**)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.0pt;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:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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;">20,491</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=11% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to customers</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=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:10.5pt;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;">12,095</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=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=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=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>
 </tr>
<tr style="height:11.0pt;">
  <td nowrap width=56% style="height:11.0pt;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;">Reverse repurchase
  agreement (**)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.0pt;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:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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;">11,493</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=11% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=56% style="background:#5AC4C4;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:8.0pt;">Total assets</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">8.1</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">108,257</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">101,735</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">89,103</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap 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=#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:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:10.5pt;">
  <td nowrap 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 style="font-size:8.0pt;">Derivatives (*)</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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">41,680</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;">34,066</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;">30,801</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap 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;">Short positions</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: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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">12,312</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:8.0pt;">12,249</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:8.0pt;">11,025</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap 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;">Deposits</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: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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">32,496</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:8.0pt;">42,365</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:8.0pt;">37,934</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Deposits from
  central banks </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=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:10.5pt;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;">6,277</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=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=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=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>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Repurchase
  agreement (**)</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">6,277</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=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=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=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>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Deposits from
  credit institutions </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=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:10.5pt;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;">16,558</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=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=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=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>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Repurchase
  agreement (**)</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">16,217</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=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=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=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>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Customer deposits</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=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:10.5pt;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;">9,660</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=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=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=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>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Repurchase
  agreement (**)</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">9,616</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=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=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=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>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=56% style="background:#5AC4C4;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:8.0pt;">Total liabilities</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">8.1</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">86,488</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">88,680</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">79,761</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_fecd45722ab04d87bb5956135"></a><a name="XBRL_FS_83eb34951ed248418f2d66dfd"></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; The
variation in 2020 is mainly due to the evolution of exchange rate derivatives
at BBVA, S.A.</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">The information for 2019 and 2018
has been subject to certain modifications related to the operation of
non-significant cross currency swaps in order to improve comparability with the
figures for 2020.</font></font><a name="XBRL_FS_83eb34951ed248418f2d66dfd_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">&#160;<a name="XBRL_FS_3733664dfd55497e82d1be9e6"></a>(**) See Note 35.<a name="XBRL_FS_3733664dfd55497e82d1be9e6_bclEnd"></a></font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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, 2020, 2019 and
2018 &#8220;Short positions&#8221; include &#8364;11,696, &#8364;11,649 and &#8364;10,255 million,
respectively, held with general governments.</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;line-height:115%;">10.2. 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, 2020, 2019 and 2018, trading derivatives were mainly contracted in
over-the-counter (OTC) markets, with counterparties, consisting primarily of
foreign credit institutions and other 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_fecd45722ab04d87bb5956135_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_10.4_006_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=10 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 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="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;">2020</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;">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>
 </tr>
<tr style="height:27.75pt;">
  <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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;">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: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;">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: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;">Notional amount - Total</font></b></font></p>
  </td>
 <td width=9% 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;">Assets</font></b></font></p>
  </td>
 <td width=9% 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;">Liabilities</font></b></font></p>
  </td>
 <td width=9% 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;">Notional amount - Total</font></b></font></p>
  </td>
 <td width=9% 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;">Assets</font></b></font></p>
  </td>
 <td width=9% 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;">Liabilities</font></b></font></p>
  </td>
 <td width=9% 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;">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;">26,451</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;">26,028</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;">3,252,066</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;">21,004</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;">20,378</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;">18,546</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;">18,169</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;">2,929,371</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;">26,447</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;">26,020</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;">3,233,718</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;">21,004</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">20,377</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;">18,546</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;">18,169</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>
 </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;">Organized market</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">8</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">18,348</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">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;">27,351</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">19,355</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;">2,626</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;">4,143</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;">72,176</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>
 </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;">584</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;">1,836</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;">42,351</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>
 </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;">Organized market</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">2,042</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">2,307</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">29,825</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">10,952</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;">11,216</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;">461,898</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;">8,608</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;">9,788</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;">7,942</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;">9,280</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>
 </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;">10,942</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;">11,216</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;">457,180</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;">8,571</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;">9,782</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;">7,931</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;">9,225</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>
 </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;">Organized market</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">4,719</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">8,532</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.75pt;">
  <td 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:7.0pt;">Credit</font></b></font></p>
  </td>
 <td nowrap width=9% 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;">153</font></b></font></p>
  </td>
 <td nowrap width=9% 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;">292</font></b></font></p>
  </td>
 <td nowrap width=9% 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;">23,411</font></b></font></p>
  </td>
 <td nowrap width=9% 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;">353</font></b></font></p>
  </td>
 <td nowrap width=9% 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;">397</font></b></font></p>
  </td>
 <td nowrap width=9% 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;">29,077</font></b></font></p>
  </td>
 <td nowrap width=9% 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;">232</font></b></font></p>
  </td>
 <td nowrap width=9% 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;">393</font></b></font></p>
  </td>
 <td nowrap width=9% 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;">25,452</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;">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;">156</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;">21,529</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>
 </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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">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>
 </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;">7</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,882</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">Other</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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>
 </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;">1</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</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;">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=#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>
 </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;">-</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>
 </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;">40,183</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;">41,680</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;">3,809,577</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;">32,232</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;">34,066</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;">29,523</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;">30,801</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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">24,432</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;">27,244</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;">958,017</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;">19,962</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;">22,973</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;">16,305</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;">18,055</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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">8,211</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;">8,493</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;">2,663,978</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;">6,028</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;">6,089</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;">7,136</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;">7,522</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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">5,484</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;">3,627</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;">134,690</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;">4,294</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;">2,932</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;">3,902</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;">2,677</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>
 </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-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">
<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_3c7bf044d1a34565b4fd60a7b"></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;line-height:115%;">11. 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_3c7bf044d1a34565b4fd60a7b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalanceD_003_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:17.15pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;height:17.15pt;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;">Non-trading
  financial assets mandatorily at fair value through profit or loss (Millions
  of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.5pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:21.5pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:21.5pt;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=13% style="border:none;border-bottom:solid black 1.0pt;height:21.5pt;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;">2020</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:21.5pt;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:21.5pt;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>
 </tr>
<tr style="height:14.25pt;">
  <td 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:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=14% 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;">7.2.2</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;">4,133</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;">4,327</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;">3,095</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td 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:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=14% 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;">7.2.2</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">356</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">110</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;">237</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=46% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=14% 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;">7.2.2</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">709</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,120</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;">1,803</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=46% style="background:#5AC4C4;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=14% style="background:#5AC4C4;height:15.0pt;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;">8.1</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,198</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&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: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="_Toc376949934"></a><a name="_Toc347755847"></a><a name="_Toc331260309"></a><a name="_Toc298431711"></a><a name="_Toc299032868"></a><a name="_Toc299031529"></a><a name="_Toc299029447"></a><a name="XBRL_TS_91de9ffcb9c74506ab6e4e387"></a><a name="_Toc495478125"></a><a name="_Toc481589073"></a><a name="_Toc474142248"></a><a name="_Toc457490018"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">12. 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_91de9ffcb9c74506ab6e4e387_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:24.0pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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;">Financial
  assets and liabilities designated at fair value through profit or loss
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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=#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: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=#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:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=12% 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=12% 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>
 </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 style="font-size:8.0pt;">ASSETS</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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: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=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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;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 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;">Debt securities</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;">7.2.2</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;">1,117 </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;">1,214</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;">1,313 </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 style="font-size:8.0pt;">LIABILITIES</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=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=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 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 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>
 </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;">Customer deposits</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;">902 </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;">944</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;">976 </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;">Debt certificates</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;">4,531 </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;">4,656</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;">2,858 </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:8.0pt;">Other financial
  liabilities: Unit-linked products</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;">4,617 </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;">4,410</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;">3,159 </font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=52% style="background:#5AC4C4;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 nowrap width=12% style="background:#5AC4C4;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;">8.1</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">10,050 </font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=12% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_349391ba09434f258e924381c"></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%;">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. 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_349391ba09434f258e924381c_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_f6314ccfe431437b8fab765d4"></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-110</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_351"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;line-height:115%;">13. 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;line-height:115%;">13.1. 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;line-height:115%;">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_f6314ccfe431437b8fab765d4_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalanceD_005_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:22.5pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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 at fair value through other comprehensive income (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=49% 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=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=12% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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: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;">2020</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;">2019</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;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td nowrap width=49% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=12% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7.2.2</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=13% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td nowrap width=49% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=12% style="height:13.0pt;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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">68,308</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">58,731</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">53,709</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td nowrap width=49% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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=12% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7.2.2</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;">
  <td nowrap width=49% style="background:#5AC4C4;height:13.0pt;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;height:13.0pt;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;">8.1</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">69,440</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:13.0pt;">
  <td width=49% style="height:13.0pt;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:
  loss allowances of debt securities</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=13% style="height:13.0pt;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;">(97)</font></i></font></p>
  </td>
 <td nowrap width=13% style="height:13.0pt;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;">(110)</font></i></font></p>
  </td>
 <td nowrap width=13% style="height:13.0pt;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;">(28)</font></i></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:0pt;margin-top:3.0pt;text-align:left;text-indent:-21.25pt;"><a name="XBRL_TS_509f3a9262864fae9acd9d9ef"></a><a name="XBRL_FS_ed9324248aaf496b903f7d4d4"></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
variation corresponds mainly to the increase in financial assets issued by
governments in BBVA, S.A.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_ed9324248aaf496b903f7d4d4_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%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">During financial
years 2020 and 2019, there have been no significant reclassifications from
&#8220;Financial assets at fair value through other comprehensive income&#8221; to other
headings or from other headings to &#8220;Financial assets at fair value through
other comprehensive income&#8221;.</font></font><a name="XBRL_TS_509f3a9262864fae9acd9d9ef_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_56df6b18e0474f7ab442012b4"></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;line-height:115%;">13.2. 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, 2020, 2019 and 2018 is as follows:</font></font><a name="XBRL_TS_56df6b18e0474f7ab442012b4_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_12.2_011_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=13 width=100% style="background:#E9E9E9;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 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:8.0pt;">Equity instruments. (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% style="height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=28% 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;">2020</font></b></font></p>
  </td>
 <td colspan=4 width=28% 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;">2019</font></b></font></p>
  </td>
 <td colspan=4 width=28% 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;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=16% 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=#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=7% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Amortized cost</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">gains</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">losses</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">&#160;value &nbsp;</font></b></font></p>
  </td>
 <td width=7% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Amortized cost</font></b></font></p>
  </td>
 <td width=7% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">gains</font></b></font></p>
  </td>
 <td width=7% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">losses</font></b></font></p>
  </td>
 <td width=7% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">&#160;value &nbsp;</font></b></font></p>
  </td>
 <td width=7% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Amortized cost</font></b></font></p>
  </td>
 <td width=7% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">gains</font></b></font></p>
  </td>
 <td width=7% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">losses</font></b></font></p>
  </td>
 <td width=7% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">&#160;value &nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=16% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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 nowrap width=16% 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=7% 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;">2,182</font></font></p>
  </td>
 <td nowrap width=7% 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=7% 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;">(1,309)</font></font></p>
  </td>
 <td nowrap width=7% 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;">873</font></font></p>
  </td>
 <td nowrap width=7% 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;">2,181</font></font></p>
  </td>
 <td nowrap width=7% 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=7% 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;">(507)</font></font></p>
  </td>
 <td nowrap width=7% 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;">1,674</font></font></p>
  </td>
 <td nowrap width=7% 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;">2,172</font></font></p>
  </td>
 <td nowrap width=7% 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=7% 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;">(210)</font></font></p>
  </td>
 <td nowrap width=7% 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;">1,962</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=16% 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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=16% 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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=16% 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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td nowrap width=16% 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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td nowrap width=16% 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;">Other countries</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td nowrap width=16% style="background:#5AC4C4;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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,282</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(1,326)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">995</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,317</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(518)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,886</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,262</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(222)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,083</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=16% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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 nowrap width=16% 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=7% 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;">5</font></font></p>
  </td>
 <td nowrap width=7% 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;">1</font></font></p>
  </td>
 <td nowrap width=7% 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=7% 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;">5</font></font></p>
  </td>
 <td nowrap width=7% 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;">5</font></font></p>
  </td>
 <td nowrap width=7% 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;">1</font></font></p>
  </td>
 <td nowrap width=7% 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=7% 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;">5</font></font></p>
  </td>
 <td nowrap width=7% 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;">6</font></font></p>
  </td>
 <td nowrap width=7% 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;">1</font></font></p>
  </td>
 <td nowrap width=7% 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=7% 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</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=16% 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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">450</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">528</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td nowrap width=16% 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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">388</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=16% 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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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 nowrap width=16% 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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td nowrap width=16% 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;">Other countries</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">85</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=16% style="background:#5AC4C4;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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">62</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">105</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">533</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">459</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">513</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=16% style="background:#5AC4C4;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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,344</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(1,327)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,100</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,772</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">167</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,721</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">98</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(223)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<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%;">&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_ee5571170fe74a499254092b5"></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">
<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;line-height:115%;">13.3. 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, 2020, 2019
and 2018, broken down by issuers, is as follows:</font></font><a name="XBRL_TS_ee5571170fe74a499254092b5_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_12.2_003_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:11.25pt;">
  <td colspan=13 width=100% style="background:#E9E9E9;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;">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:8.0pt;">Debt securities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=16% style="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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap width=28% 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=#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 colspan=4 nowrap width=28% 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=#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=28% 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=#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:22.5pt;">
  <td width=16% 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=#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=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=#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=7% 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;">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=7% 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;">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=7% 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;">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>
 <td 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=#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=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=#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=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=#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=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=#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>
 <td 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=#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=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=#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=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=#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=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=#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:11.25pt;">
  <td width=16% 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;">Domestic debt
  securities</font></b></font></p>
  </td>
 <td nowrap width=7% 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=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=7% 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=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=7% 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=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=7% 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=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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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: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 agency debt securities</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;">28,582</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;">801</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;">(16)</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;">29,367</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;">20,740</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;">830</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;">(20)</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;">21,550</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;">17,205</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;">661</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;">(9)</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;">17,857</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=16% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,363</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,439</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">959</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,024</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">855</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% 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;">Other issuers</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">907</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">947</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td width=16% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">30,811</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">917</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">31,712</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">22,607</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">935</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">23,521</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">18,802</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">761</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">19,553</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% 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;">Foreign debt
  securities</font></b></font></p>
  </td>
 <td nowrap width=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=16% 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;">Mexico</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">9,107</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">291</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">(3)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">9,395</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">7,790</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">22</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">(26)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">7,786</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">6,299</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">6</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">(142)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">6,163</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 agency debt securities</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;">8,309</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;">271</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;">(1)</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;">8,579</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;">6,869</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;">18</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;">(19)</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;">6,868</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;">5,286</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;">4</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;">(121)</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;">5,169</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=16% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td width=16% 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;">Other issuers</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">685</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">843</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">840</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">978</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">961</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% 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;">The United States</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">4,642</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">52</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">(3)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">4,691</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">11,376</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">68</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">(51)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">11,393</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">14,507</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">47</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">(217)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">14,338</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% 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;">Government securities
  </font></font></p>
  </td>
 <td nowrap width=7% 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;">2,307</font></font></p>
  </td>
 <td nowrap width=7% 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;">9</font></font></p>
  </td>
 <td nowrap width=7% 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;">(1)</font></font></p>
  </td>
 <td nowrap width=7% 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;">2,315</font></font></p>
  </td>
 <td nowrap width=7% 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;">8,570</font></font></p>
  </td>
 <td nowrap width=7% 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;">42</font></font></p>
  </td>
 <td nowrap width=7% 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=7% 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;">8,599</font></font></p>
  </td>
 <td nowrap width=7% 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;">11,227</font></font></p>
  </td>
 <td nowrap width=7% 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</font></font></p>
  </td>
 <td nowrap width=7% 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;">(135)</font></font></p>
  </td>
 <td nowrap width=7% 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;">11,130</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=16% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Treasury and
  other government agencies</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,307</font></font></p>
  </td>
 <td nowrap 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=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=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=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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,315</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">5,595</font></font></p>
  </td>
 <td nowrap 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=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=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=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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">5,624</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,285</font></font></p>
  </td>
 <td nowrap 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=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=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=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>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,258</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% style="height:11.25pt;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:8.0pt;">States and political
  subdivisions </font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,975</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,975</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3,942</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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)</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3,872</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=16% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td width=16% 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;">Other issuers</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,149</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,187</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,684</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,670</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,231</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,158</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% 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;">Turkey</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">3,456</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">90</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">(73)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">3,473</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">3,752</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">38</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">(76)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">3,713</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">4,164</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">20</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">(269)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">3,916</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 agency debt securities</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;">3,456</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;">90</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;">(73)</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;">3,473</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;">3,752</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;">38</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;">(76)</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;">3,713</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;">4,007</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;">20</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;">(256)</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;">3,771</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=16% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td width=16% 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;">Other issuers</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=16% 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;">Other countries</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">18,340</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">739</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">(42)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">19,037</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">11,870</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">554</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">(106)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">12,318</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">9,551</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">319</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">(130)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:8.0pt;">9,740</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;">Other foreign
  governments and other government agency debt securities</font></font></p>
  </td>
 <td nowrap width=7% 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;">10,458</font></font></p>
  </td>
 <td nowrap width=7% 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;">502</font></font></p>
  </td>
 <td nowrap width=7% 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;">(17)</font></font></p>
  </td>
 <td nowrap width=7% 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;">10,943</font></font></p>
  </td>
 <td nowrap width=7% 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;">6,963</font></font></p>
  </td>
 <td nowrap width=7% 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;">383</font></font></p>
  </td>
 <td nowrap width=7% 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;">(78)</font></font></p>
  </td>
 <td nowrap width=7% 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;">7,269</font></font></p>
  </td>
 <td nowrap width=7% 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;">4,510</font></font></p>
  </td>
 <td nowrap width=7% 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;">173</font></font></p>
  </td>
 <td nowrap width=7% 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;">(82)</font></font></p>
  </td>
 <td nowrap width=7% 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;">4,601</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,599</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,010</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">987</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">986</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,521</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,629</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,795</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;">
  <td width=16% 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;">Other issuers</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,762</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,854</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,106</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,147</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,197</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,206</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">35,545</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,172</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(120)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">36,596</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">34,788</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">681</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">35,210</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">34,521</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">392</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">34,157</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% style="background:#5AC4C4;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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">66,356</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,089</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(137)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">68,308</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">57,395</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,617</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,153</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(768)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_e0b24b818b3141a7b18d6a578"></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, 2020, 2019 and 2018 are as follows:</font></font><a name="XBRL_TS_e0b24b818b3141a7b18d6a578_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;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=22% 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;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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;">2020</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;">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>
 </tr>
<tr style="height:33.75pt;">
  <td width=22% 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=18% 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=10% 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=16% 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=9% 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=16% 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=9% 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=22% 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=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;">4,345</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;">6.4%</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;">3,669</font></font></p>
  </td>
 <td nowrap 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=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=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;">531</font></font></p>
  </td>
 <td nowrap 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=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=22% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">595</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;">0.9%</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;">7,279</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:8.0pt;">12.4%</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;">13,100</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:8.0pt;">24.4%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=22% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">449</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;">0.7%</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;">317</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:8.0pt;">0.5%</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;">222</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:8.0pt;">0.4%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=22% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">406</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;">0.6%</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=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=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:8.0pt;">0.5%</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;">409</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:8.0pt;">0.8%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=22% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">5,912</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;">8.7%</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;">3,367</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:8.0pt;">5.7%</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;">632</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:8.0pt;">1.2%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=22% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">2,112</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;">3.1%</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;">12,895</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:8.0pt;">22.0%</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;">687</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:8.0pt;">1.3%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=22% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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=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;">31,614</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;">46.3%</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;">10,947</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:8.0pt;">18.6%</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=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=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:8.0pt;">34.3%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=22% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">8,629</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;">12.6%</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=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=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:8.0pt;">16.9%</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;">9,195</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:8.0pt;">17.1%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=22% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">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;">5.9%</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;">2,966</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:8.0pt;">5.1%</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;">4,607</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:8.0pt;">8.6%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=22% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">5,116</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;">7.5%</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;">1,927</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:8.0pt;">3.3%</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;">1,003</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:8.0pt;">1.9%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=22% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">4,731</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;">6.9%</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;">4,712</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:8.0pt;">8.0%</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;">4,453</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:8.0pt;">8.3%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=22% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Unclassified</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;">345</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;">0.5%</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;">441</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:8.0pt;">0.8%</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;">445</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:8.0pt;">0.8%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=22% style="background:#5AC4C4;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=18% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">68,308</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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-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">
<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_6cddade81fe04b4995a3591bd"></a><a name="_Toc474142253"></a><a name="_Toc376972341"></a><a name="_Toc376949933"></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;line-height:115%;">13.4. 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, 2020, 2019 and 2018 of debt
securities recognized under the equity heading &#8220;Accumulated other comprehensive
income (loss) &#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 (loss) &#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;Fair value changes of equity instruments measured at fair value
through other comprehensive income&#8221; in the accompanying consolidated balance
sheets are as follows:</font></font><a name="XBRL_TS_6cddade81fe04b4995a3591bd_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_ECCO_12.3_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:11.25pt;">
  <td colspan=8 valign=top width=100% style="background:#E9E9E9;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;">Other
  comprehensive income - Changes in gains / losses (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=31% style="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 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=#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=3 width=30% 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;">Debt securities</font></b></font></p>
  </td>
 <td colspan=3 width=29% 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;">Equity instruments</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=31% style="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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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;height:11.25pt;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;">2020</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-top: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=#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-top: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=#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;height:11.25pt;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;">2020</font></b></font></p>
  </td>
 <td 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=#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;height:11.25pt;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>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=31% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;">
  <td nowrap width=31% 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;">Effect of
  changes in accounting policies (IFRS 9)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 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: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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:silver;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 lang=EN-US style="font-size:8.0pt;">&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:8.0pt;">(58)</font></font></p>
  </td>
 <td nowrap width=10% style="background:silver;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=10% style="background:silver;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="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td nowrap width=31% 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;">Valuation gains and
  losses</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif style="font-size:8.0pt;">&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:8.0pt;">489</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:8.0pt;">1,267</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:8.0pt;">(640)</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:8.0pt;">(876)</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:8.0pt;">(238)</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;">(174)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=31% 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;">Amounts transferred
  to income</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif style="font-size:8.0pt;">&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:8.0pt;">(72)</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:8.0pt;">(119)</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:8.0pt;">(137)</font></font></p>
  </td>
 <td nowrap width=10% style="background:silver;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=10% style="background:silver;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="background:silver;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>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=31% 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;">Amounts transferred
  to Reserves</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:silver;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=10% style="background:silver;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=10% style="background:silver;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=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=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=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: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>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=31% 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;">Income tax and other</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif style="font-size:8.0pt;">&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:8.0pt;">(107)</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:8.0pt;">(331)</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:8.0pt;">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=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td nowrap width=31% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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=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=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,069</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(1,256)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><a name="XBRL_TS_5d6a06c3245f469f97c973064"></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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 2020, 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 or net gains by modification&#8211; Financial assets at fair value through other
comprehensive income&#8221; in the accompanying consolidated income statement
amounted to &#8364;19 million (see Note 47).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 or net gains by modification&#8211; Financial assets at fair value through other
comprehensive income&#8221; in the accompanying consolidated income statement
amounted to &#8364;82 million (see Note 47) as a result of the decrease in the rating
of debt securities in 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 or 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:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 2020, equity
securities presented a decrease of 876 million euros in the heading &#8220;Gains and
losses from valuation - Accumulated other comprehensive income - Items that
will not be reclassified to profit and loss - Fair value changes of equity
instruments measured at fair value through other comprehensive income&#8221;, mainly
due to the </font><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Telef&#243;nica&nbsp;</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> quotation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 2020, 2019 and 2018 there
has been no significant impairment recorded in equity instruments under the
heading &#8220;Impairment or reversal of impairment on financial assets not measured
at fair value through profit or loss or net gains by modification- Financial
assets at fair value through other comprehensive income&#8221; (see Note 47).</font></font><a name="XBRL_TS_5d6a06c3245f469f97c973064_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-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">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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_f3756d077fd7432484cf9ff5b"></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;line-height:115%;">14. Financial
assets 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;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:10.0pt;line-height:115%;">14.1. 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_f3756d077fd7432484cf9ff5b_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:10.5pt;">
  <td colspan=5 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 lang=EN-US style="font-size:8.0pt;">Financial
  assets at amortized cost (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=3% 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;">Notes</font></b></font></p>
  </td>
 <td width=14% 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;">2020</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;">2019</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;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:8.0pt;">Debt securities</font></b></font></p>
  </td>
 <td nowrap width=3% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">35,737</font></b></font></p>
  </td>
 <td nowrap width=13% 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;">38,877</font></b></font></p>
  </td>
 <td nowrap width=13% 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;">32,530</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% 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:8.0pt;">Government</font></font></p>
  </td>
 <td nowrap width=3% 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=14% 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;">28,727</font></font></p>
  </td>
 <td nowrap width=13% 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;">31,526</font></font></p>
  </td>
 <td nowrap width=13% 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;">25,014</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% 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 style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=3% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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:8.0pt;">783</font></font></p>
  </td>
 <td nowrap width=13% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">719</font></font></p>
  </td>
 <td nowrap width=13% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:10.5pt;">
  <td nowrap width=57% 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 style="font-size:8.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=3% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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:8.0pt;">5,027</font></font></p>
  </td>
 <td nowrap width=13% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=13% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,421</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;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:8.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=3% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">1,200</font></font></p>
  </td>
 <td nowrap width=13% 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;">1,379</font></font></p>
  </td>
 <td nowrap width=13% 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;">1,451</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=3% 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 lang=EN-US 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:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,209</font></b></font></p>
  </td>
 <td nowrap width=13% 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;">4,275</font></b></font></p>
  </td>
 <td nowrap width=13% 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;">3,941</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=3% 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 lang=EN-US 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:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">14,575</font></b></font></p>
  </td>
 <td nowrap width=13% 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;">13,649</font></b></font></p>
  </td>
 <td nowrap width=13% 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;">9,163</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% 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:8.0pt;">Reverse repurchase
  agreements (**)</font></font></p>
  </td>
 <td nowrap width=3% 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=14% 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;">1,914</font></font></p>
  </td>
 <td nowrap width=13% 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;">1,817</font></font></p>
  </td>
 <td nowrap width=13% 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;">478</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;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:8.0pt;">Other loans and
  advances</font></font></p>
  </td>
 <td nowrap width=3% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">12,661</font></font></p>
  </td>
 <td nowrap width=13% 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;">11,832</font></font></p>
  </td>
 <td nowrap width=13% 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;">8,685</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=3% 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 lang=EN-US 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:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">311,147</font></b></font></p>
  </td>
 <td nowrap width=13% 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;">382,360</font></b></font></p>
  </td>
 <td nowrap width=13% 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;">374,027</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% 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:8.0pt;">Government</font></font></p>
  </td>
 <td nowrap width=3% 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=14% 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;">19,391</font></font></p>
  </td>
 <td nowrap width=13% 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;">28,222</font></font></p>
  </td>
 <td nowrap width=13% 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;">28,114</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% 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 style="font-size:8.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=3% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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:8.0pt;">9,817</font></font></p>
  </td>
 <td nowrap width=13% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=13% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% 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 style="font-size:8.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=3% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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:8.0pt;">136,424</font></font></p>
  </td>
 <td nowrap width=13% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=13% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;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:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=3% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;">145,515</font></font></p>
  </td>
 <td nowrap width=13% 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;">176,142</font></font></p>
  </td>
 <td nowrap width=13% 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;">172,522</font></font></p>
  </td>
 </tr>
<tr style="height:11.0pt;">
  <td nowrap width=57% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:11.0pt;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=3% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">8.1</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">367,668</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.0pt;">
  <td nowrap width=57% style="border:none;height:11.0pt;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:
  impaired assets of loans and advances to customers (*)</font></i></font></p>
  </td>
 <td nowrap width=3% style="border:none;height:11.0pt;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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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;">14,672</font></i></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=13% style="border:none;height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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>
 </tr>
<tr style="height:11.0pt;">
  <td nowrap width=57% style="height:11.0pt;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:
  loss allowances of loans and advances (*)</font></i></font></p>
  </td>
 <td nowrap width=3% style="height:11.0pt;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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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;">(12,141)</font></i></font></p>
  </td>
 <td nowrap width=13% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=13% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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>
 </tr>
<tr style="height:11.0pt;">
  <td nowrap width=57% style="height:11.0pt;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:
  loss allowances of debt securities</font></i></font></p>
  </td>
 <td nowrap width=3% style="height:11.0pt;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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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;">(48)</font></i></font></p>
  </td>
 <td nowrap width=13% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=13% style="height:11.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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>
 </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_2b42bf1a49364a20993d15e3d"></a><a name="XBRL_FS_10083086cb6d4688a77fd273f"></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;&#160;&#160;&#160;&#160; See
Note 7.2</font></font></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_4c62347fe9f74d73b8b29f2fb"></a><a name="XBRL_FS_10083086cb6d4688a77fd273f_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%;">(**)&#160;&#160;&#160;&#160;&#160;&#160; See Note 35.</font></font></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_30c8265e47ab4bbabf04cad3f"></a><a name="XBRL_FS_4c62347fe9f74d73b8b29f2fb_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%;">(***)&#160;&#160;&#160;&#160;&#160; Amount in 2020 is mainly due to the stake in BBVA USA
(see Note 21).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_FS_30c8265e47ab4bbabf04cad3f_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%;">During financial years 2020, 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: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:10.0pt;line-height:115%;">14.2. Debt securities</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;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;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_2b42bf1a49364a20993d15e3d_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_14.3_001_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=13 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 lang=EN-US style="font-size:8.0pt;">Financial
  assets at amortized cost: Debt securities. </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:11.25pt;">
  <td nowrap width=15% style="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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 width=29% 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:6.0pt;">2020</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=28% 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:6.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=28% 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:6.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=7% 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:6.0pt;">Amortized&#160;&#160;&#160;&#160;&#160; cost </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: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: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=8% 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: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=7% 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: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;">&#160;value &nbsp;</font></b></font></p>
  </td>
 <td width=7% 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:6.0pt;">Amortized&#160;&#160;&#160;&#160;&#160; cost </font></b></font></p>
  </td>
 <td width=7% 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: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=7% 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: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=7% 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: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;">&#160;value&nbsp;</font></b></font></p>
  </td>
 <td width=7% 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:6.0pt;">Amortized&#160;&#160;&#160;&#160;&#160; cost </font></b></font></p>
  </td>
 <td width=7% 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: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=7% 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: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=7% 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: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;">&#160;value&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Domestic debt
  securities</font></b></font></p>
  </td>
 <td nowrap width=7% 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=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=7% 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=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="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=7% 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=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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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=7% 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:22.5pt;">
  <td width=15% 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=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:6.0pt;">13,656</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:6.0pt;">1,212</font></font></p>
  </td>
 <td nowrap width=8% 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:6.0pt;">-</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:6.0pt;">14,868</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:6.0pt;">12,755</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:6.0pt;">630</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:6.0pt;">(21)</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:6.0pt;">13,363</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:6.0pt;">10,953</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:6.0pt;">458</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:6.0pt;">(265)</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:6.0pt;">11,146</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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 width=15% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Other issuers</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4,835</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4,887</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4,903</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4,931</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5,014</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5,030</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">18,492</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">1,271</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">19,756</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">17,684</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">668</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(31)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">18,320</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">16,019</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">499</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(290)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">16,228</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Foreign debt
  securities</font></b></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">&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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Mexico</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">7,771</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">534</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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(16)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">8,289</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">6,374</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">168</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(18)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">6,525</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">5,148</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">10</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">5,157</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=15% 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=7% 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:6.0pt;">6,963</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">479</font></font></p>
  </td>
 <td nowrap width=8% 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:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">7,442</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">5,576</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">166</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">5,742</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">4,571</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">4,579</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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 width=15% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">632</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">687</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">526</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">529</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">351</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Other issuers</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">254</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">The United States</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">52</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 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:11.25pt;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=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">6,125</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">111</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">6,217</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">2,559</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">15</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(3)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">2,570</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Government securities
  </font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">-</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:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">5,690</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">111</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">5,783</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">2,070</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">2,070</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=15% 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=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=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=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=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=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=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=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=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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">1,161</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td nowrap 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=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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">1,193</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">118</font></font></p>
  </td>
 <td nowrap 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=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=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=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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">118</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=15% 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=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=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=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=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=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=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=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=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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">4,530</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">61</font></font></p>
  </td>
 <td nowrap 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=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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">4,590</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">1,952</font></font></p>
  </td>
 <td nowrap 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=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=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=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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">1,952</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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 width=15% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td width=15% 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;">Other issuers</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">410</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">466</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">470</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Turkey</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">3,628</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">95</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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(25)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">3,698</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">4,113</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">48</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(65)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">4,097</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">4,062</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(261)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">3,801</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=15% 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=7% 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:6.0pt;">3,621</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">95</font></font></p>
  </td>
 <td nowrap width=8% 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:6.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">3,691</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">4,105</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">47</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">(65)</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">4,088</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">4,054</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">(261)</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">3,793</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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 width=15% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;">
  <td width=15% 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;">Other issuers</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;">
  <td width=15% 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;">Other countries</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">5,795</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">505</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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(1)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">4,581</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">82</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">4,637</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">4,741</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">32</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(152)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">4,622</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=15% 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;">Other foreign
  governments and other government agency debt securities</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">4,473</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">467</font></font></p>
  </td>
 <td nowrap width=8% 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:6.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">4,939</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">3,400</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">82</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">(22)</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">3,459</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">3,366</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">27</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">(152)</font></font></p>
  </td>
 <td nowrap width=7% 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:6.0pt;">3,242</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">147</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">147</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% 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;">Other issuers</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1,200</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1,238</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1,047</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1,043</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1,164</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1,169</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">17,245</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">1,134</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(68)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">18,311</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">21,194</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">409</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(129)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">21,476</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">16,510</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(416)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">16,150</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=15% style="background:#5AC4C4;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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">35,737</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">2,405</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">38,067</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">38,877</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">1,077</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">39,796</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">32,530</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">556</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(706)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">32,378</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-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">
<p style="border:none;margin-bottom:.0001pt;margin-left:38.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><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:0cm;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_44c6d26330b346dcbfde40e54"></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, 2020, 2019 and 2018, the credit ratings of the issuers of debt
securities classified as follows:</font></font><a name="XBRL_TS_44c6d26330b346dcbfde40e54_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=7 width=100% style="background:#E9E9E9;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=30% 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;"><b><font color=black face=Arial,sans-serif 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:13.5pt;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;">2020</font></b></font></p>
  </td>
 <td colspan=2 width=23% 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=23% 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=30% 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=12% 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=12% 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=12% 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=11% 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>
 <td width=11% 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=12% 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=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;">AAA</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;">151</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;">0.4%</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;">39</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.1%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">49</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;">0.2%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AA+</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=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;">0.2%</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,481</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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;">6.1%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AA</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=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;">0.2%</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">62</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;">0.2%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AA-</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</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;">0.1%</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 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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">A+</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;">42</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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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;">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;">1.9%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">A</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;">590</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;">1.7%</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;">16,806</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">0.1%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">A-</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;">16,736</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;">46.8%</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;">607</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">18.8%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBB+</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;">7,919</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;">22.2%</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,715</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">42.7%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBB</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;">942</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;">2.6%</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;">551</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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;">5.0%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBB-</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;">4,499</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;">12.6%</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;">3,745</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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>
 </tr>
<tr style="height:13.5pt;">
  <td width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BB+ or below</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;">3,928</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;">11.0%</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;">5,123</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">13.4%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Unclassified</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;">743</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;">2.1%</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 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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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;">3.5%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=30% style="background:#5AC4C4;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">35,737</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;text-indent:0cm;"><a name="XBRL_TS_42546b4d01534f50ae74da096"></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;line-height:115%;">14.3. 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_42546b4d01534f50ae74da096_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:13.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;height:13.0pt;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;">Loans and
  advances to customers (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=53% 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=#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=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=#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 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=#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: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>
 </tr>
<tr style="height:13.0pt;">
  <td width=53% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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=16% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=16% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=53% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13,093</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=53% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,544</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=53% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,650</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=53% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;">
  <td width=53% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">267,031</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=53% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,924</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;">
  <td width=53% style="background:#5AC4C4;height:13.0pt;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;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">311,147</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=15% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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-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">
<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_df383e6a53b245c2961ef4aaa"></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;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%;">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, 2020:</font></font><a name="XBRL_TS_df383e6a53b245c2961ef4aaa_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=7 width=100% style="background:#E9E9E9;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:11.25pt;">
  <td width=25% style="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=3 nowrap width=39% 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;">2020</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=36% 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;">2019</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 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=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=#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=13% 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=13% 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;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;">Domestic</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=12% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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 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;">Fixed rate</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:8.0pt;">46,104</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:8.0pt;">66,444</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:8.0pt;">112,548</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:8.0pt;">55,920</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:8.0pt;">68,915</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:8.0pt;">124,835</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;">Variable rate</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:8.0pt;">86,710</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:8.0pt;">41,452</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:8.0pt;">128,162</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">79,329</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">97,765</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">177,095</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% style="background:#5AC4C4;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 width=13% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">132,814</font></b></font></p>
  </td>
 <td width=13% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">107,895</font></b></font></p>
  </td>
 <td width=13% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">240,710</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=12% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=12% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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_db159c1cbfbb4a779691f1441"></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, 2020, 2019 and 2018, 47%, 41% and 38%, respectively, of
&quot;Loans and advances to customers&quot; with maturity greater than one year
have fixed-interest rates and 53%, 59% 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;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_db159c1cbfbb4a779691f1441_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:20.25pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;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;">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;">2020</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>
 </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;">23,953</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>
 </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;">Other securitized
  assets</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;">6,144</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;">4,249</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;">3,221</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=49% style="background:#5AC4C4;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=17% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">30,098</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_067256a3ae5646a8a5c39ec2a"></a><a name="_Toc495478129"></a><a name="_Toc481589077"></a><a name="_Toc474142259"></a><a name="_Toc457490022"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">15. 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_067256a3ae5646a8a5c39ec2a_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:23.25pt;">
  <td colspan=5 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;">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:21.0pt;">
  <td width=55% style="height:21.0pt;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="height:21.0pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#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 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=#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="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>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=55% style="background:#5AC4C4;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:8.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=55% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Derivatives - Hedge
  accounting</font></font></p>
  </td>
 <td nowrap width=11% 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=#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=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,991</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,729</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,892</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=55% 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;">Fair value
  changes of the hedged items in portfolio hedges of interest rate risk</font></font></p>
  </td>
 <td nowrap 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=#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=12% 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;">51</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=55% style="background:#5AC4C4;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;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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;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;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;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>
 </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;">Hedging derivatives</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 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;">2,318</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,233</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,680</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=55% 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;">Fair value
  changes of the hedged items in portfolio hedges of interest rate risk</font></font></p>
  </td>
 <td nowrap 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=#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=12% 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=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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_c36ca3d611424c3fab926003e"></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, 2020, 2019 and 2018, the main positions hedged by the Group and
the derivatives designated to hedge those positions were:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;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 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%;">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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

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</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: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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">Cash-flow hedges: Most of the
hedged items are floating interest-rate loans and asset hedges linked to the
inflation of the financial assets at fair value through other comprehensive
income portfolio. This risk is hedged using foreign-exchange, interest-rate
swaps, inflation and FRA&#8217;s (&#8220;Forward Rate Agreement&#8221;). </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">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_c36ca3d611424c3fab926003e_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:12.75pt;">
  <td colspan=7 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=#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:12.75pt;">
  <td nowrap valign=bottom width=34% 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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2020</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2018</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;">989</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;">525</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>
 </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;">989</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;">525</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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Organized market </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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>
 </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;">-</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>
 </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;">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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Organized market</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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>
 </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;">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;">350</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>
 </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;">435</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;">350</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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Organized market</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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>
 </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;">1,424</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;">874</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>
 </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;">154</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;">1,055</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>
 </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;">154</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;">1,041</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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>
 </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;">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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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>
 </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;">-</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>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;border-bottom:solid 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;">225</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;">55</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>
 </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;">225</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;">50</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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Organized market</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">379</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;">1,111</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>
 </tr>
<tr style="height:22.5pt;">
  <td width=34% 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;">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: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;">166</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">139</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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: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;">242</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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: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;">231</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=34% 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;">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: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;">18</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">170</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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: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;">216</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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: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;">90</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=34% 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;">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: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;">3</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">23</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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: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;">99</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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: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;">12</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">DERIVATIVES-HEDGE
  ACCOUNTING</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;">1,991</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;">2,318</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;">1,729</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;">2,233</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;">2,892</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;">2,680</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;">1,718</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;">1,965</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>
 </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;">273</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;">333</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>
 </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;">-</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>
 </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_5383da385fc3468a878510082"></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-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">
<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%;">Below there is a breakdown of the items covered by fair value
hedges:</font></font><a name="XBRL_TS_5383da385fc3468a878510082_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_15.1_009_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 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 lang=EN-US style="font-size:8.0pt;">Hedged items
  in fair value hedges. </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 2020 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:67.5pt;">
  <td width=45% style="height:67.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% style="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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Carrying amount</font></b></font></p>
  </td>
 <td width=13% style="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=#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 adjustments included in the carrying amount of
  assets/liabilities</font></b></font></p>
  </td>
 <td width=16% style="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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Remaining adjustments for discontinued micro hedges including
  hedges of net positions</font></b></font></p>
  </td>
 <td width=13% style="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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Hedged items in portfolio hedge of interest rate risk</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="background:#5AC4C4;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;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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=13% style="background:#5AC4C4;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=16% style="background:#5AC4C4;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=13% style="background:#5AC4C4;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>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 measured at fair value through other comprehensive income</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">28,091</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;">(99)</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:8.0pt;">12</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;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Interest 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;">28,059</font></font></p>
  </td>
 <td width=13% style="background:#999999;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 width=16% style="background:#999999;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 width=13% style="background:#999999;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=45% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other</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;">33</font></font></p>
  </td>
 <td width=13% style="background:#999999;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 width=16% style="background:#999999;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 width=13% style="background:#999999;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>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 measured at amortized cost</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;">11,177</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;">386</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:8.0pt;">3</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,500</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Interest 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;">11,177</font></font></p>
  </td>
 <td width=13% style="background:#999999;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 width=16% style="background:#999999;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 width=13% style="background:#999999;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 nowrap width=45% style="background:#5AC4C4;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;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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=13% style="background:#5AC4C4;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=16% style="background:#5AC4C4;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=13% style="background:#5AC4C4;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>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 measured at amortized costs</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;">23,546</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;">(576)</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:8.0pt;">2</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;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Interest 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;">23,543</font></font></p>
  </td>
 <td width=13% style="background:#999999;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 width=16% style="background:#999999;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 width=13% style="background:#999999;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=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Equity</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 width=13% style="background:#999999;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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=16% style="background:#999999;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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="background:#999999;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Foreign exchange and
  gold</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 width=13% style="background:#999999;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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=16% style="background:#999999;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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="background:#999999;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_967e7db85a014ba885859c042"></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 is the calendar of the notional maturities of the
hedging instruments as of December 31, 2020:</font></font><a name="XBRL_TS_967e7db85a014ba885859c042_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:12.75pt;">
  <td colspan=6 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Calendar of the
  notional maturities of the hedging instruments (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=45% 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;"><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: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;">Up to 3 months</font></b></font></p>
  </td>
 <td 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=#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=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=#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=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=#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=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=#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=45% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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;">3,581</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;">10,945</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;">28,487</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;">18,656</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;">61,668</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Of which: Interest
  rate</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,569</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;">10,879</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;">26,946</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;">18,609</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;">60,003</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 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;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;">10,495</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;">2,808</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;">2,576</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;">6,972</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;">22,852</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Of which: Interest
  rate</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,756</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;">154</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;">1,816</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;">6,600</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;">15,326</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 2.0pt 0cm 2.0pt;">
  <p style="border: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,853</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;">2,910</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;">4,763</font></b></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 2.0pt 0cm 2.0pt;">
  <p style="border: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">299</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;">576</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;">1,533</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;">1,029</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;">3,437</font></b></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 2.0pt 0cm 2.0pt;">
  <p style="border: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">101</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;">11</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;">1,049</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;">1,161</font></b></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 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">15,933</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;">17,340</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;">33,984</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;">26,623</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;">93,881</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_e70b6f34d2424f168b62b5e96"></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 2020,
2019 and 2018, 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, 2020, 2019 and 2018 were not material.</font></font><a name="Nota_16"></a><a name="Nota_16_bclEnd"></a><a name="XBRL_TS_e70b6f34d2424f168b62b5e96_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>

<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_eb757ffacf54424c953a23b7d"></a><a name="_Toc495478130"></a><a name="_Toc481589078"></a><a name="_Toc474142260"></a><a name="_Toc457490023"></a><a name="_Toc376949949"></a><a name="_Toc347755852"></a><a name="_Toc331260314"></a><a name="_Toc299032873"></a><a name="_Toc299031534"></a><a name="_Toc299029452"></a><a name="_Toc298431716"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">16. Investments in joint
ventures and associates</font></b></font><a name="_Toc376949950"></a><a name="_Toc347755853"></a><a name="_Toc331260315"></a><a name="_Toc299032874"></a><a name="_Toc299031535"></a><a name="_Toc299029453"></a><a name="_Toc298431717"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;"> &nbsp;</font></b></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;line-height:115%;">16.1. 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_eb757ffacf54424c953a23b7d_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_16_002_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 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 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=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=#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=19% 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;">2020</font></b></font></p>
  </td>
 <td width=19% 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=19% 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>
 </tr>
<tr style="height:12.0pt;">
  <td width=43% style="border:none;border-bottom:solid 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=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=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 lang=EN-US style="font-size:8.0pt;">Altura Markets,
  S.V., S.A.</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;">77</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;">73</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;">69</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;">RCI Colombia</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;">36</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;">37</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;">32</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;">Desarrollo
  Metropolitanos del Sur, S.L.</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;">17</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;">14</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;">13</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;">Other</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;">19</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;">30</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;">59</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=43% style="background:#5AC4C4;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=19% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">149</font></b></font></p>
  </td>
 <td width=19% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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=#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=19% 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=19% 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=19% 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=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;">Divarian Propiedad, S.A.U.</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;">567</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;">630</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;">591</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;">Metrovacesa, S.A.</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;">285</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;">443</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;">508</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;">BBVA Allianz Seguros
  y Reaseguros, S.A.</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;">250</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>
 </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;">ATOM Bank PLC</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;">64</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;">136</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;">138</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;">Solarisbank AG</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;">39</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;">36</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;">37</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;">Cofides</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;">25</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;">23</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;">22</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;">Redsys servicios de
  procesamiento, S.L.</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;">14</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;">14</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;">12</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;">Servicios
  Electr&#243;nicos Globales S.A. de CV</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;">11</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;">11</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;">9</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;">Other</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;">33</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;">41</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;">88</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=43% style="background:#5AC4C4;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=19% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,288</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:12.75pt;">
  <td width=43% style="background:#5AC4C4;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=19% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,437</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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-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:0cm;margin-bottom:10.0pt;text-align:justify;"><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_72c4f9c332fb45969a5cc3d75"></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%;">Details of
the joint ventures and associates as of December 31, 2020 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, 2020, 2019 and 2018 under this heading in the
accompanying consolidated balance sheets:</font></font><a name="XBRL_TS_72c4f9c332fb45969a5cc3d75_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;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="height:22.9pt;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="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="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;">2020</font></b></font></p>
  </td>
 <td width=12% style="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="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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% style="background:#5AC4C4;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;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<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;">Acquisitions and
  capital increases</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;">257</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;">161</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;">309</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;">(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;">(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>
 </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;">(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;">(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>
 </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;">(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>
 </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;">(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;">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>
 </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;">Dividends,
  valuation adjustments and others</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;">(188)</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;">(43)</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="background:#5AC4C4;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;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,437</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_f53c34face894542bdd50a808"></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 the
year 2020, the most significant changes in the heading &#8220;Investments in joint
ventures and associates&#8221; correspond to the valuation of Metrovacesa and BBVA
Allianz Seguros y Reaseguros, S.A.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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:0cm;margin-bottom:10.0pt;text-align:justify;"><font 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:0cm;text-align:justify;"><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 125 of the Securities Market Act 4/2015.<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;line-height:115%;">16.2. 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,
2020, 2019 and 2018 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,
2020, 2019 and 2018 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;line-height:115%;">16.3. 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, the book value of the associates and joint venture entities has been
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. For
the year ended December 31, 2020, &#8364;158 million have been recorded in the
Group&#8217;s consolidated income statement due to impairment. For the year ended
December 31, 2019, &#8364;46 million were recorded due to impairment. There were no
impairments recognized in 2018 (see Note 48).</font></font><a name="XBRL_TS_f53c34face894542bdd50a808_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>

<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_d02c4e17c7d7446288905c4b4"></a><a name="_Toc505355950"></a><a name="_Toc495478131"></a><a name="_Toc481589079"></a><a name="_Toc474142264"></a><a name="_Toc457490024"></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-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>
<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;line-height:115%;">17. 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_d02c4e17c7d7446288905c4b4_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:11.25pt;">
  <td colspan=10 style="background:#E9E9E9;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;">Tangible
  assets: Breakdown by type of assets and changes in the year 2020. </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>
 <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom style="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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#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 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=#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 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:6.0pt;">Right to use asset</font></b></font></p>
  </td>
 <td rowspan=3 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:6.0pt;">Investment properties</font></b></font></p>
  </td>
 <td rowspan=3 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 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: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:6.0pt;">Total</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td rowspan=2 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=#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: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:6.0pt;">Notes</font></b></font></p>
  </td>
 <td rowspan=2 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:6.0pt;">Land and buildings</font></b></font></p>
  </td>
 <td rowspan=2 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:6.0pt;">Work in progress</font></b></font></p>
  </td>
 <td rowspan=2 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:6.0pt;">Furniture, fixtures and vehicles</font></b></font></p>
  </td>
 <td rowspan=2 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:6.0pt;">Own use</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: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:6.0pt;">Investment properties</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 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 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 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 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 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 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 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 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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td style="background:#5AC4C4;border:none;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 style="background:#5AC4C4;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=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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;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=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 style="background:#5AC4C4;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=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 style="background:#5AC4C4;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=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 style="background:#5AC4C4;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=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 style="background:#5AC4C4;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=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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;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=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>
 <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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;">Additions</font></font></p>
  </td>
 <td nowrap 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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;">Companies held for
  sale (*)</font></font></p>
  </td>
 <td nowrap 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(925)</font></font></p>
  </td>
 <td nowrap style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,616)</font></font></p>
  </td>
 <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(248)</font></font></p>
  </td>
 <td nowrap style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:12.0pt;">
  <td style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,166)</font></font></p>
  </td>
 <td height=16 style="border:none;height:12.0pt;">&nbsp;</td>
 </tr>
<tr style="height:12.0pt;">
  <td style="background:#5AC4C4;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 style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 nowrap style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,515</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,061</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">123</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">345</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">13,677</font></b></font></p>
  </td>
 <td height=16 style="border:none;height:12.0pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom 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 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 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=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: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;"><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: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;"><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: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;"><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: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;"><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: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;"><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: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;"><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: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;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-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 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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-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 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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-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 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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td style="background:#5AC4C4;border:none;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 style="background:#5AC4C4;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=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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;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=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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;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=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 style="background:#5AC4C4;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=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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;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=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 style="background:#5AC4C4;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=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>
 <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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;">Additions</font></font></p>
  </td>
 <td nowrap style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">45</font></font></p>
  </td>
 <td nowrap style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">312</font></font></p>
  </td>
 <td nowrap style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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;">Additions
  transfer to discontinued operations (*)</font></font></p>
  </td>
 <td nowrap 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(248)</font></font></p>
  </td>
 <td nowrap style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(260)</font></font></p>
  </td>
 <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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;">Companies held for
  sale (*)</font></font></p>
  </td>
 <td nowrap 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(321)</font></font></p>
  </td>
 <td nowrap style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:12.0pt;">
  <td style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td height=16 style="border:none;height:12.0pt;">&nbsp;</td>
 </tr>
<tr style="height:12.0pt;">
  <td style="background:#5AC4C4;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 style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,859</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">582</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,371</font></b></font></p>
  </td>
 <td height=16 style="border:none;height:12.0pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom style="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 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=#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="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;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=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="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;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=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="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;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=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="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;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=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=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-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 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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-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 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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-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 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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 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 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 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 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 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 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 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 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>
 <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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;">49</font></font></p>
  </td>
 <td nowrap 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;">18</font></font></p>
  </td>
 <td nowrap 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 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;">26</font></font></p>
  </td>
 <td nowrap 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;">68</font></font></p>
  </td>
 <td nowrap 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 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;">1</font></font></p>
  </td>
 <td nowrap 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 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;">125</font></font></p>
  </td>
 <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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;">Companies held for
  sale (*)</font></font></p>
  </td>
 <td nowrap 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:12.0pt;">
  <td style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=16 style="border:none;height:12.0pt;">&nbsp;</td>
 </tr>
<tr style="height:12.0pt;">
  <td style="background:#5AC4C4;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 style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">149</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">274</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">483</font></b></font></p>
  </td>
 <td height=16 style="border:none;height:12.0pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom style="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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#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="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 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=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="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 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=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="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 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=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="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 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=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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom style="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;">Net tangible assets</font></b></font></p>
  </td>
 <td nowrap 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=#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="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 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=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="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 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=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="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 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=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="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 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=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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#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="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 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=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="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 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=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="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 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=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="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 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=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 height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom style="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;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap 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=#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="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">4,536</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">56</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">2,007</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">2,955</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">76</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">175</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">263</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">10,068</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom style="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;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap 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=#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="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">3,398</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">52</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">1,656</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">2,205</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">70</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">151</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">291</font></b></font></p>
  </td>
 <td nowrap style="height:11.25pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">7,823</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.25pt;">&nbsp;</td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_FS_c8fb860c84944887951fd1252"></a><a name="XBRL_TS_c9f5e5e49097407f8b22d4502"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160;&#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;line-height:115%;">Amount is mainly due to the stake in BBVA USA (see Note 3).</font></font><a name="XBRL_FS_c8fb860c84944887951fd1252_bclEnd"></a><a name="XBRL_TS_c9f5e5e49097407f8b22d4502_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-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 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:12.75pt;">
  <td colspan=10 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 lang=EN-US style="font-size:8.0pt;">Tangible assets. Breakdown by type of assets and changes in the
  year 2019 (Millions of Euros)</font></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=red face=Arial,sans-serif style="border:none;"><font color=red face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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=red face=Arial,sans-serif style="border:none;"><font color=red face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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=red face=Arial,sans-serif style="border:none;"><font color=red face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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=red face=Arial,sans-serif style="border:none;"><font color=red face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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=red face=Arial,sans-serif style="border:none;"><font color=red face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=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;">Right to use asset </font></b></font></p>
  </td>
 <td 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=red face=Arial,sans-serif style="border:none;"><font color=red face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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=red face=Arial,sans-serif style="border:none;"><font color=red face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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=red face=Arial,sans-serif style="border:none;"><font color=red face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#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 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=#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 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=#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 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=#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=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;">Own use</font></b></font></p>
  </td>
 <td rowspan=3 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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 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: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;">Work in progress</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;">Furniture, fixtures and vehicles</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:12.75pt;">
  <td 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;">Cost </font></b></font></p>
  </td>
 <td nowrap 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 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 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 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 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 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 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 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 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 height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="background:#5AC4C4;border:none;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 style="background:#5AC4C4;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=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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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: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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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:12.75pt;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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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:12.75pt;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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:12.75pt;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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="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 style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom style="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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#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="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;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=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="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;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=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="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;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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;">0</font></font></p>
  </td>
 <td nowrap 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=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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">Accrued
  depreciation </font></b></font></p>
  </td>
 <td nowrap 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 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 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 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 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 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 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 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 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 height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="background:#5AC4C4;border:none;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 style="background:#5AC4C4;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=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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">431</font></font></p>
  </td>
 <td nowrap style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:22.5pt;">
  <td 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;">Additions
  transfer to discontinued operations (*)</font></font></p>
  </td>
 <td nowrap style="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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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;">34</font></font></p>
  </td>
 <td nowrap 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 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 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;">43</font></font></p>
  </td>
 <td nowrap 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 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 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 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;">103</font></font></p>
  </td>
 <td height=30 style="border:none;height:22.5pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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: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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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:12.75pt;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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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:12.75pt;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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:12.75pt;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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="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 style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom style="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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#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="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;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=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="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;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=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="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;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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;">0</font></font></p>
  </td>
 <td nowrap 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=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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">Impairment </font></b></font></p>
  </td>
 <td nowrap 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 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 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 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 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 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 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 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 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 height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="background:#5AC4C4;border:none;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 style="background:#5AC4C4;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=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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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: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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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:12.75pt;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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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:12.75pt;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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:12.75pt;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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="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 style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom style="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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom style="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="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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 valign=bottom style="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="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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 valign=bottom style="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="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="height:13.5pt;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="height:13.5pt;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="height:13.5pt;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="height:13.5pt;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="height:13.5pt;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="height:13.5pt;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="height:13.5pt;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="height:13.5pt;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>
<tr style="height:13.5pt;">
  <td valign=bottom style="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="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="height:13.5pt;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 style="height:13.5pt;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 style="height:13.5pt;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 style="height:13.5pt;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 style="height:13.5pt;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 style="height:13.5pt;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 style="height:13.5pt;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 style="height:13.5pt;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>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_cf2140ce18824f3182b92fee7"></a><a name="XBRL_FS_831b94f6165a4f2c9019a4583"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160;&#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;line-height:115%;">Amount in 2019 is mainly due to the stake in BBVA USA (see Note
3).</font></font><a name="XBRL_FS_831b94f6165a4f2c9019a4583_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">
<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 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.</font></font><a name="XBRL_TS_cf2140ce18824f3182b92fee7_bclEnd"></a></p>

<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;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="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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#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;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 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;">Additions</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;">445</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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;">938</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;">(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 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;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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 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 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;">Exchange difference
  and other</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;">38</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(48)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 nowrap valign=bottom style="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="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="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="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="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="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="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="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="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;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 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;">Additions</font></font></p>
  </td>
 <td nowrap 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:8.0pt;">45</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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;">442</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">528</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">533</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;">Additions
  transfer to discontinued operations (*)</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;">34</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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;">61</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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;">61</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;">(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 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;">(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 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;">(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 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;">Exchange difference
  and other</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;">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;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(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;">(198)</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;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 nowrap valign=bottom style="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="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="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="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="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="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="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="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="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;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 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;">Additions</font></font></p>
  </td>
 <td nowrap 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:8.0pt;">49</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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;">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;">(25)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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;">4</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:21.75pt;">
  <td 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;">Additions
  transfer to discontinued operations (*)</font></font></p>
  </td>
 <td nowrap style="height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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: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;">1</font></font></p>
  </td>
 <td nowrap 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;">-</font></font></p>
  </td>
 <td nowrap 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;">-</font></font></p>
  </td>
 <td nowrap 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;">1</font></font></p>
  </td>
 <td nowrap 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;">-</font></font></p>
  </td>
 <td nowrap 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;">-</font></font></p>
  </td>
 <td nowrap 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;">1</font></font></p>
  </td>
 <td height=29 style="border:none;height:21.75pt;">&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;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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: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;">-</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 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;">(77)</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;">(77)</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;">(3)</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;">(80)</font></font></p>
  </td>
 <td height=16 style="border:none;height:12.0pt;">&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;">Exchange difference
  and other</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;">(51)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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;">(51)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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;">11</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;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 nowrap valign=bottom style="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="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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom style="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="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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">4,584</font></b></font></p>
  </td>
 <td nowrap style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,102</font></b></font></p>
  </td>
 <td nowrap style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,756</font></b></font></p>
  </td>
 <td nowrap style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">310</font></b></font></p>
  </td>
 <td nowrap style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">7,229</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:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_955eea74439e40bb872cd4cf9"></a><a name="XBRL_FS_b7c88f64fe78484e8de065281"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160;&#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;line-height:115%;">Amount is mainly due to the stake in BBVA USA (see Note 3).</font></font><a name="XBRL_FS_b7c88f64fe78484e8de065281_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">As of December 31, 2020, 2019 and 2018, the cost of fully
amortized tangible assets that remained in use were &#8364;2,299, &#8364;2,658 and &#8364;2,624
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, 2020, 2019 and 2018:</font></font><a name="XBRL_TS_955eea74439e40bb872cd4cf9_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;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;">2020</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>
 </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;">4,294</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;">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>
 </tr>
<tr style="height:13.5pt;">
  <td width=55% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Foreign subsidiaries</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=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;">3,529</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.5pt;">
  <td width=55% style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">7,823</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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-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">
<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_4bc80c0ca2d945e7a28ddb3bb"></a><a name="_Toc495479971"></a><a name="_Toc481574670"></a><a name="_Toc457382016"></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;line-height:115%;">18. 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;line-height:115%;"> 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;line-height:115%;">18.1 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_4bc80c0ca2d945e7a28ddb3bb_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_ECCO_18.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=#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=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=#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=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=#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=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=#002146 face=Arial,sans-serif style="border:none;"><b><font color=#002146 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=#002146 face=Arial,sans-serif style="border:none;"><b><font color=#002146 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=#002146 face=Arial,sans-serif style="border:none;"><b><font color=#002146 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=#002146 face=Arial,sans-serif style="border:none;"><b><font color=#002146 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;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;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;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;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;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;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;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;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;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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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="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;">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;">(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;">(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="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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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="background:#5AC4C4;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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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="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;">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;">(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;">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="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="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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="background:#5AC4C4;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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<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;">Additions </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="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;">(22)</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;">(72)</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;">(92)</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;">(21)</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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)</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;">(208)</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;">(2,084)</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;">(13)</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;">(2,097)</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;">Companies held for
  sale</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;">(1,740)</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;">(1,740)</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;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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="background:#5AC4C4;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, 2020</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">478</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">254</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=10% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=10% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">910</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_f6c0e972184a4dc5a9ab7b532"></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, 2020, the remaining goodwill of the United States CGU was
reclassified to the heading &#8220;Non-current assets and disposal groups classified
as held for sale&#8221; of the consolidated balance sheet, whereas the impairment was
reclassified to the heading &#8220;Profit (loss) after tax from discontinued
operations&#8221; of the consolidated income statements (see Notes 1.3, 3 and 21).</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%;">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 2020, 2019 and 2018.</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-US style="font-size:8.0pt;line-height:115%;">As mentioned in
Note 2.2.8, 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. Furthermore, it is analyzed whether certain changes
in the valuation assumptions used could give rise to differences in the result
of the impairment test.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font 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: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 forecast cash flows, including
net interest margin and cost of risk, estimated by the Group's management, and
based on the latest available budgets for the next 4 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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 constant growth rate for
extrapolating cash flows, starting in the fourth or fifth year, beyond the
period covered by the budgets or forecasts.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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 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 valuation
of the goodwill of the CGU of Turkey has been reviewed by independent experts
(not the Group's external auditors). </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, 2020, as a
result of the CGU&#180;s assessment, the Group concluded there is no evidence of
further indicators of impairment losses that requires recognizing significant
additional impairment losses in any of the CGUs where goodwill that the Group
has recognized in the consolidated balance sheet is allocated.</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%;">&nbsp;</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 March 31, 2020, the Group
identified an indicator of impairment of goodwill in the United States CGU and
as a result of the goodwill impairment test, the Group estimated impairment in
the United States CGU, of &#8364;2,084 million, which was mainly due to the negative
impact of the update of the macroeconomic scenario following the COVID-19
pandemic (see Note 1.5) and the expected evolution of interest rates. This
recognition did not affect the tangible book value nor the liquidity nor 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%;">&nbsp;</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, the Group
estimated impairment losses in the United States CGU of &#8364;1,318 million, which
was mainly as a result of the negative evolution of interest rates, especially
in the second half of the year, which accompanied by the slowdown of the
economy caused the expected evolution of results below the previous estimation.
This recognition did not affect the tangible book value nor the liquidity nor
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%;">&nbsp;</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, no
impairment had 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:.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, 2020, the
remaining goodwill corresponding to the United States CGU has been reclassified
to the heading &quot;Non-current assets and disposal groups classified as held
for sale&quot; in the consolidated balance sheets (see Notes 1.3, 3 and 21). Pursuant
to IFRS 5.15, the CGU must be measured at the lower of fair value less costs to
sell and the carrying amount. Given the price agreed in the sale agreement, the
fair value less costs to sell is higher than carrying amount of the assets and
liabilities of the CGU, which means that as of December 31, 2020 these will
remain valued at their carrying amount (included goodwill) on the
reclassification date.</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 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 assumptions used in the latest impairment tests of such CGU are:</font></font><a name="XBRL_TS_f6c0e972184a4dc5a9ab7b532_bclEnd"></a></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 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_UGE_USA_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=4 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 lang=EN-US style="font-size:8.0pt;">Impairment
  test assumptions CGU goodwill - United States</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=42% 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;">March 2020</font></b></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 align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=42% 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;">10.3%</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;">10.0%</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;">10.5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=42% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">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;">3.0%</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;">3.5%</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;">4.0%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_1c31473c32c14f0ba97b73d84"></a><a name="XBRL_FS_0804d3591bc9424dbdbc75cf9"></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%;">(*) Post-tax
discount rates.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_FS_0804d3591bc9424dbdbc75cf9_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>

<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%;">In accordance with paragraph 33.c
of IAS 36, as of March 31, 2020, the Group used a constant growth rate of 3.0%,
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.</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%;">&nbsp;</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 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 carry the most weight and whose volatility could affect the most in
determining the present value of cash flows from the fifth year on are the
discount rate and the growth rate. The following shows the amount that would
increase (or decrease) the recoverable value of the CGU, as a consequence of a
reasonably possible variation (in basis points, &#8220;bp&#8221;) of each of the key
assumptions as of March 31, 2020:</font></font><a name="XBRL_TS_1c31473c32c14f0ba97b73d84_bclEnd"></a></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 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_Sensibilidad_USA_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=3 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 lang=EN-US style="font-size:8.0pt;">Sensitivity
  analysis for main assumptions - United States (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=28% 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=37% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Increase of 50 basis points (*)</font></b></font></p>
  </td>
 <td width=35% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Decrease of 50 basis points (*)</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;">Discount rate</font></font></p>
  </td>
 <td nowrap width=37% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(755)</font></font></p>
  </td>
 <td nowrap width=35% style="border:none;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;">869</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;">Growth rate</font></font></p>
  </td>
 <td nowrap width=37% 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;">270</font></font></p>
  </td>
 <td nowrap width=35% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_f463b215099b42a1a2374dd18"></a><a name="XBRL_FS_cf6f09ba60374db1b8894fd2f"></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 use
of very different discount or growth rates would be inconsistent with the
macroeconomic assumptions under which the Unit builds its business plan, such
as inflation assumptions or interest rate curves used to determine cash flows.</font></font></p>

<font color=#004580 face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><a name="XBRL_FS_cf6f09ba60374db1b8894fd2f_bclEnd"></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: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-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">
<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 -
Mexico 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 Mexico, the main significant assumptions used in the impairment
test of this mentioned CGU as of December 31, 2020, 2019 and 2018:</font></font><a name="XBRL_TS_f463b215099b42a1a2374dd18_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;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 Mexico</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;">2020</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>
 </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;">15.3%</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;">14.8%</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;">14.8%</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;">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;">5.7%</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;">5.9%</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 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>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_288ab08d079a45f2a2c5fad7d"></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%;">(*) Post-tax discount rates.</font></font></p>

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

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="background:white;border:none;"><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:8.0pt;line-height:115%;">In
accordance with paragraph 33.c of IAS 36, as of December 31, 2020, the Group
used a growth rate of 5.7% based on the real GDP growth rate of Mexico, the
expected inflation and the potential growth of the banking sector in Mexico. </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 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 fourth year are the discount rate and the
growth rate. Below, in a simplified way, 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, considered in isolation as of
December 31, 2020, where, in any case, the value in use </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%;">would continue to exceed their book value</font><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:8.0pt;line-height:115%;">:</font></font><a name="XBRL_TS_288ab08d079a45f2a2c5fad7d_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_18.2_006jun_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=3 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 lang=EN-US style="font-size:8.0pt;">Sensitivity
  analysis for main assumptions - Mexico (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=36% 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=35% 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 lang=EN-US style="font-size:8.0pt;">Impact of an increase of 50 basis points (*)</font></b></font></p>
  </td>
 <td width=29% 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 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:21.0pt;">
  <td width=36% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Discount rate</font></font></p>
  </td>
 <td nowrap width=35% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,043)</font></font></p>
  </td>
 <td nowrap width=29% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,156</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=36% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Growth rate</font></font></p>
  </td>
 <td nowrap width=35% 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:8.0pt;">688</font></font></p>
  </td>
 <td nowrap width=29% 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:8.0pt;">(620)</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;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_d856c405b5dc4dc6b1d35e883"></a><a name="XBRL_FS_587e633c23b240a6a50d71be3"></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;&#160;&#160;&#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></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_FS_587e633c23b240a6a50d71be3_bclEnd"></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%;">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 as of December 31, 2020, 2019 and 2018
are:</font></font><a name="XBRL_TS_d856c405b5dc4dc6b1d35e883_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;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;">2020</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>
 </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;">21.0%</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>
 </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;">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:0cm;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_8f374169338448d29e17e9812"></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%;">(*) Post-tax discount rates.</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="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, 2020,
2019 and 2018 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 growth rate. Below, in
a simplified way, 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, considered in isolation as of December 31, 2020,
where, in any case, the value in use would continue to exceed their book valu</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%;">e</font><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:8.0pt;line-height:115%;">:</font></font><a name="XBRL_TS_8f374169338448d29e17e9812_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_18.2_010jun_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=3 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 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:41.25pt;">
  <td width=29% 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=36% 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 lang=EN-US style="font-size:8.0pt;">Impact of an increase of 50 basis points (*)</font></b></font></p>
  </td>
 <td width=35% 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 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:12.75pt;">
  <td 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;">Discount rate</font></font></p>
  </td>
 <td nowrap width=36% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=35% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Growth rate</font></font></p>
  </td>
 <td nowrap width=36% 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:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=35% 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:8.0pt;">(26)</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;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_e66e5716fe5d4b9fa835b4fbf"></a><a name="XBRL_FS_81ad2d6bd02d458b93457ef86"></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;&#160;&#160;&#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></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><a name="XBRL_FS_81ad2d6bd02d458b93457ef86_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 bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<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%;">Considering the uncertainty caused by the current economic situation, the Group has carried out additional sensitivities on other variables such as the net interest income and the cost of risk forecasts, not having detected any modification on the result of the impairment test on the CGU.</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%;">As of March 31,
2020, a goodwill impairment test of the Turkey CGU was carried out due to the
identification of indicators of impairment. As a result of such test, the Group
determined that there was no impairment in this CGU. </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 - 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 assumptions 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_e66e5716fe5d4b9fa835b4fbf_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_733947d955cf4e1fb18237e3a"></a><a name="_Toc474142267"></a><a name="_Toc376972361"></a><a name="_Toc376949953"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-AU style="font-size:10.0pt;line-height:115%;">18.2. Other intangible assets</font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-AU style="font-size:10.0pt;line-height:115%;"> &nbsp;</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 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_733947d955cf4e1fb18237e3a_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalanceD_010_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 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=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: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;">2020</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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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;">1,202</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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=right style="border:none;margin:0cm;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;">12</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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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;">221</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;">401</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;">518</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=53% style="background:#5AC4C4;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;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=12% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,435</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_e9fcf71991264d889cff20552"></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, 2020, 2019 and 2018, are as follows:</font></font><a name="XBRL_TS_e9fcf71991264d889cff20552_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_18.2_ModelosGNeocon_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=11 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 lang=EN-US style="font-size:8.0pt;">Other
  intangible assets (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=21% 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=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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 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;">2020</font></b></font></p>
  </td>
 <td colspan=3 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;">2019</font></b></font></p>
  </td>
 <td colspan=3 width=23% 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:22.5pt;">
  <td width=21% 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=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=#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=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Computer software</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 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;">Other intangible </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:8.0pt;">assets</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 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;">Total of intangible
  assets</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 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;">Computer software</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 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;">Other intangible </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:8.0pt;">assets</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 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;">Total of intangible
  assets</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 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;">Computer software</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 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;">Other intangible </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:8.0pt;">assets</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 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;">Total of intangible
  assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=21% style="background:#5AC4C4;border:none;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=8% style="background:#5AC4C4;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=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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,598</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=8% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,605</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">529</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=8% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,682</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">721</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<tr style="height:12.75pt;">
  <td width=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">460</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">525</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">540</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">12</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;">552</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">(500)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Amortization
  transfer to discontinued operations (*)</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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(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:8.0pt;">(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:8.0pt;">(105)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">(114)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">(123)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">(83)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Decreases by
  companies held for sale (*)</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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=21% style="background:#5AC4C4;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=8% style="background:#5AC4C4;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=8% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,202</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=8% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,435</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,598</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=8% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,605</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">529</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:12.0pt;page-break-after:avoid;"><a name="XBRL_TS_d5f34a30b6394dcf85b7387a9"></a><a name="XBRL_FS_8605e304f0f54941b4a01167b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160;&#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;line-height:115%;">Amount is mainly due to the stake in BBVA USA (see Note 3).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_FS_8605e304f0f54941b4a01167b_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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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,
2020, 2019 and 2018, the cost of fully amortized intangible assets that
remained in use were &#8364;2,622 million, &#8364;2,702 million, &#8364;2,412 million
respectively, while their recoverable value was not significant.</font></font><a name="XBRL_TS_d5f34a30b6394dcf85b7387a9_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_b776a6a8d0454131aa59122bb"></a><a name="_Toc376949961"></a><a name="_Toc347755857"></a><a name="_Toc331260319"></a><a name="_Toc299032878"></a><a name="_Toc299031539"></a><a name="_Toc299029457"></a><a name="_Toc298431721"></a><a name="_Toc495478133"></a><a name="_Toc481589081"></a><a name="_Toc474142268"></a><a name="_Toc457490026"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">19. 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="_Toc376972363"></a><a name="_Toc376949955"></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;line-height:115%;">19.1. 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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<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;line-height:115%;">19.2. 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%;">At 31 December
2020, the BBVA consolidated tax group in Spain is currently under inspection
for the years 2014 to 2016 inclusive for the main taxes applicable to it.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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%;">On the other hand,
in relation to the main jurisdictions in which the Group is present and carries
out its activity, in the case of Mexico, BBVA Bancomer S.A., is currently under
inspection by the Mexican Tax Authorities for the years 2016 and 2017
corresponding to Corporate Income Tax and Value Added Tax.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 case of Turkey, the head entity in this country, Garanti BBVA A.S., is
currently under inspection by the Tax Authorities of that country for all the
taxes applicable to it corresponding to the years 2017 and 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%;">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>

<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;line-height:115%;">19.3. 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_b776a6a8d0454131aa59122bb_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;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&#160; (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=43% style="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;">2020</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;">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>
 </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:11.5pt;">
  <td width=43% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;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;">Profit or (-)
  loss before tax</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">3,576</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.5pt;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=9% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=10% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;">
  <td width=43% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">From continuing
  operations</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,248</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,046</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,565</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:11.5pt;">
  <td width=43% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">From discontinued
  operations</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">881</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:20.5pt;">
  <td width=43% style="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:20.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:20.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:20.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:11.5pt;">
  <td width=43% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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 (*)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:11.5pt;">
  <td width=43% style="height:11.5pt;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;">Mexico </font></font></p>
  </td>
 <td nowrap width=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
<tr style="height:11.5pt;">
  <td width=43% style="height:11.5pt;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;">Chile </font></font></p>
  </td>
 <td nowrap width=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;">
  <td width=43% style="height:11.5pt;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;">Colombia </font></font></p>
  </td>
 <td nowrap width=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;">
  <td width=43% style="height:11.5pt;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;">Peru </font></font></p>
  </td>
 <td nowrap width=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
<tr style="height:11.5pt;">
  <td width=43% style="height:11.5pt;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;">Turkey</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;">
  <td width=43% style="height:11.5pt;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;">USA</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;">
  <td width=43% style="height:11.5pt;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;">Others</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:11.5pt;">
  <td width=43% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:11.5pt;">
  <td width=43% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:11.5pt;">
  <td width=43% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:11.5pt;">
  <td width=43% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;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;">Income tax</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,516</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.5pt;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=9% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=10% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;">
  <td width=43% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which:
  Continuing operations</font></i></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,459</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,943</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,042</font></i></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:11.5pt;">
  <td width=43% style="height:11.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which:
  Discontinued operations</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">57</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">110</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">177</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:21.3pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_TS_e4db7e697d6849abbb30b5191"></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;&nbsp;</font></font><a name="XBRL_FS_18e6aed660564e49b406750ea"></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;&#160;&#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_18e6aed660564e49b406750ea_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:5.65pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_FS_7586d4c2b9fc46549b926839b"></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;&#160;&#160;&#160;&#160; This amount is generated in 2020 and 2019 mainly as a
result of the impact of the goodwill impairment of The United States' CGU.</font></font><a name="XBRL_FS_7586d4c2b9fc46549b926839b_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><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: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, 2020, 2019 and 2018 is as follows:</font></font><a name="XBRL_TS_e4db7e697d6849abbb30b5191_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;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:25.0pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;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=4% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;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=17% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=17% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.5pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;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;">Income from:</font></b></font></p>
  </td>
 <td nowrap width=4% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;">
  <td width=45% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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=4% style="border:none;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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=17% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=17% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=17% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.5pt;">
  <td width=45% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=4% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;">
  <td width=45% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=4% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,982</font></font></p>
  </td>
 <td nowrap width=17% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,757</font></font></p>
  </td>
 <td nowrap width=17% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,050</font></font></p>
  </td>
 </tr>
<tr style="height:11.5pt;">
  <td width=45% style="background:#5AC4C4;height:11.5pt;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;">Gains (losses) before taxes from continuing operations</font></b></font></p>
  </td>
 <td nowrap width=4% style="background:#5AC4C4;height:11.5pt;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=17% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,248</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">7,046</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">7,565</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.5pt;">
  <td nowrap valign=bottom width=45% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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=4% style="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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=17% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,459</font></font></p>
  </td>
 <td nowrap width=17% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,943</font></font></p>
  </td>
 <td nowrap width=17% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,042</font></font></p>
  </td>
 </tr>
<tr style="height:11.5pt;">
  <td width=45% style="background:#5AC4C4;height:11.5pt;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;">Effective tax rate</font></b></font></p>
  </td>
 <td nowrap width=4% style="background:#5AC4C4;height:11.5pt;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=17% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">27.8%</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">27.6%</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">27.0%</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-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">
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_c235d9c3a0e249708c92738d2"></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
2020, 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 36% compared to the tax rate applicable last
year 33%. In the year 2019, there has been no changes in the nominal tax rate
on corporate income tax, except for Colombia where the applicable tax rate has
been 33% compared to the initially forecasted 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%;">&#160;&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font 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%;">19.4. 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_c235d9c3a0e249708c92738d2_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;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:25.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;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:25.0pt;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:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=11% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;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;">Charges to total
  equity</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;">
  <td width=56% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=11% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;">
  <td width=56% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;">
  <td nowrap width=56% style="background:#5AC4C4;height:11.5pt;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=11% style="background:#5AC4C4;height:11.5pt;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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.5pt;">
  <td nowrap width=56% style="background:#5AC4C4;height:11.5pt;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;height:11.5pt;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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_2179861173084596a2335e761"></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;line-height:115%;">19.5. 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_2179861173084596a2335e761_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;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:25.0pt;">
  <td width=43% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;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=19% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=19% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="border:none;border-bottom:solid black 1.0pt;height:25.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.5pt;">
  <td width=43% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;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;">Tax assets</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=19% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=19% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;">
  <td width=43% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=19% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,199</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,327</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="height:11.5pt;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;">Pensions</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="height:11.5pt;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;">Financial
  Instruments</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,292</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="height:11.5pt;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;">Loss allowances </font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,683</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="height:11.5pt;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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,069</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,292</font></font></p>
  </td>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="height:11.5pt;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;">Secured tax assets</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,361</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="height:11.5pt;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;">Tax losses</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,483</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="background:#5AC4C4;height:11.5pt;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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">16,526</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;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;">Tax liabilities</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=19% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=19% style="border:none;border-bottom:solid black 1.0pt;height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.5pt;">
  <td width=43% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=19% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=19% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=19% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,809</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="height:11.5pt;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;">Financial
  Instruments</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">908</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="height:11.5pt;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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">901</font></font></p>
  </td>
 <td nowrap width=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=19% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.5pt;">
  <td width=43% style="background:#5AC4C4;height:11.5pt;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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,355</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=19% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_0166e0bf44044b56ba4954a46"></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 most significant variations of the deferred assets and
liabilities in the years 2020, 2019 and 2018 derived from the followings
causes:</font></font><a name="XBRL_TS_0166e0bf44044b56ba4954a46_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;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="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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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;">2020</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;">2019</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;">2018</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:11.5pt;">
  <td nowrap width=32% style="background:#5AC4C4;border:none;height:11.5pt;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=9% style="background:#5AC4C4;border:none;height:11.5pt;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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<tr style="height:11.5pt;">
  <td nowrap width=32% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:11.5pt;">
  <td nowrap width=32% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.5pt;">
  <td nowrap width=32% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:11.5pt;">
  <td nowrap width=32% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.5pt;">
  <td nowrap width=32% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:11.5pt;">
  <td nowrap width=32% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:11.5pt;">
  <td nowrap width=32% style="background:#5AC4C4;height:11.5pt;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=9% style="background:#5AC4C4;height:11.5pt;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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">15,327</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,809</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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">
<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_5693b24b2c9a4adb859a5a0de"></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-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%;">With respect to the changes in assets and liabilities due to
deferred tax in 2020 contained in the above table, the following should be
pointed out:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol 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%;">Secured tax assets maintain a very
similar balance to that of the previous year.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol 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 increase in tax assets due to
tax loss arises as a result of the generation of tax losses and deductions in
the year.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;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 evolution of deferred tax
assets (other than those guaranteed and those linked to tax losses) net of
deferred tax liabilities is due to the agreement to sell the US business unit
(its deferred tax assets and liabilities in 2020 are shown under
&quot;Non-current assets or liabilities and disposal groups classified as held
for sale&quot;), the effect of exchange rates, especially in the case of Mexico
and Turkey, and the operation of corporate income tax, where the differences
between accounting and taxation give rise to constant movements in 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, 2020, 2019 and 2018, 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 106 million euros, 473
million euros and 443 million euros, respectively.</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%;">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_5693b24b2c9a4adb859a5a0de_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;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=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=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;">2020</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>
 </tr>
<tr style="height:11.5pt;">
  <td nowrap width=45% style="border:none;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:11.5pt;">
  <td nowrap width=45% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:11.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,437</font></font></p>
  </td>
 <td nowrap width=14% style="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.5pt;">
  <td nowrap width=45% style="background:#5AC4C4;height:11.5pt;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;height:11.5pt;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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">9,361</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<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;"><a name="XBRL_TS_aaa9e112ed144106b411e628e"></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, 2020, non-guaranteed net deferred tax assets of
the above table amounted to &#8364;4,156 million (&#8364;4,027 and &#8364;3,907 million as of
December 31, 2019 and 2018 respectively), which broken down by major
geographies is as follows: </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:12.0pt;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%;">Spain: Net deferred tax assets recognized
in Spain totaled &#8364;2,590 million as of December 31, 2020 (&#8364;2,447 and &#8364;2,653
million as of December 31, 2019 and 2018, respectively). &#8364;1,480 million of the
figure recorded in the year ended December 31, 2020 for net deferred tax assets
related to tax credits and tax loss carry forwards and &#8364;1,110 million relate to
temporary differences. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol 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: Net deferred tax assets
recognized in Mexico amounted to &#8364;1,036 million as of December 31, 2020 (&#8364;1,083
and &#8364;826 million as of December 31, 2019 and 2018, respectively). Practically
all of deferred tax assets as of December 31, 2020 relate to temporary
differences.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol 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: Net deferred tax
assets recognized in South America amounted to &#8364;126 million as of December 31,
2020 (&#8364;84 and &#8364;0.4 million as of December 31, 2019 and 2018, 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:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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: Net deferred tax
assets recognized in the United States amounted to &#8364;2 million as of December
31, 2020 (&#8364;122 and &#8364;164 as of December 31, 2019 and 2018, respectively). All
the deferred tax assets relate to temporary differences.</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &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 this respect, it should be noted that the 2020 figure is
affected by the sale agreement of the US business unit (the deferred tax assets
and liabilities of the business subject to the sale agreement in 2020 are shown
as &quot;Non-current assets or liabilities and disposal groups that have been
classified as held for sale&quot;).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol 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: Net deferred tax assets
recognized in Turkey amounted to &#8364;395 million as of December 31, 2020 (&#8364;278 and
&#8364;250 million as of December 31, 2019 and 2018, respectively). Practically all
the deferred tax assets are related 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, 2020, including historical levels of
benefits and projected results available to the Group for the coming 15 years,
the Group has carried out an analysis of its recovery of deferred tax assets
and liabilities taking into account the impact of COVID-19 pandemic (see Note
1.5). 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 negative tax bases and deductions for
which, in general, there is no legal period for offsetting, amounting to
approximately &#8364; 2,156 million, which are mainly originated by Catalunya Banc.</font></font><a name="XBRL_TS_aaa9e112ed144106b411e628e_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="_Toc298431726"></a><a name="_Toc299029462"></a><a name="_Toc299031544"></a><a name="_Toc299032883"></a><a name="_Toc331260324"></a><a name="XBRL_TS_a16059ccead8474abc5b84701"></a></p>
<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-129</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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">
<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;line-height:115%;">20. 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
composition of the balance of these captions of the accompanying consolidated
balance sheets is:</font></font><a name="XBRL_TS_a16059ccead8474abc5b84701_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalanceD_012_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:13.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;height:13.0pt;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:21.0pt;">
  <td width=34% 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=#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=16% 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=#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: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;">2020</font></b></font></p>
  </td>
 <td 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=#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: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>
 </tr>
<tr style="height:13.0pt;">
  <td width=34% style="border:none;height:13.0pt;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=16% style="border:none;height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:13.0pt;">
  <td width=34% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=16% style="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">572</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=34% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=16% style="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=34% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=16% style="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=34% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=16% style="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,025</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=34% style="background:#5AC4C4;height:13.0pt;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;height:13.0pt;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=17% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,513</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=17% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:13.0pt;">
  <td width=34% style="height:13.0pt;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=16% style="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:13.0pt;">
  <td width=34% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=16% style="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;">
  <td width=34% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=16% style="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,584</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=34% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=16% style="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,144</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=17% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:13.0pt;">
  <td width=34% style="background:#5AC4C4;height:13.0pt;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;height:13.0pt;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=17% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,802</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=17% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_92ac1c6ef54e45839d4345313"></a><a name="_Toc495478135"></a><a name="_Toc481589083"></a><a name="_Toc474142275"></a><a name="_Toc457490028"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">21.
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: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 balances under 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 accompanying consolidated balance
sheets, broken down by the origin of the assets, is as follows:</font></font><a name="XBRL_TS_92ac1c6ef54e45839d4345313_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_notasbalance_013_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:10.5pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;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 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:18.75pt;">
  <td width=55% 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=#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=15% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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 width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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: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:8.0pt;">2018</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;">Foreclosures and
  recoveries (*)</font></font></p>
  </td>
 <td nowrap width=15% 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;">1,398</font></font></p>
  </td>
 <td nowrap width=15% 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;">1,647</font></font></p>
  </td>
 <td nowrap width=15% 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;">2,210</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=55% 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=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">310</font></font></p>
  </td>
 <td nowrap width=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:10.5pt;">
  <td width=55% 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;">Companies held for
  sale (**)</font></font></p>
  </td>
 <td nowrap width=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">84,792</font></font></p>
  </td>
 <td nowrap width=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,716</font></font></p>
  </td>
 <td nowrap width=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:10.5pt;">
  <td width=55% 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=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:10.5pt;">
  <td width=55% 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;">Impairment losses </font></font></p>
  </td>
 <td nowrap width=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(543)</font></font></p>
  </td>
 <td nowrap width=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:21.0pt;">
  <td width=55% style="background:#5AC4C4;height:21.0pt;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
  non-current assets and disposal groups classified as held for sale</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">85,987</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,079</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,001</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=55% 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;">Companies held for
  sale (**)</font></font></p>
  </td>
 <td nowrap width=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">75,446</font></font></p>
  </td>
 <td nowrap width=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,554</font></font></p>
  </td>
 <td nowrap width=15% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=55% style="background:#5AC4C4;height:21.0pt;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
  liabilities included in disposal groups classified as held for sale</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">75,446</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,554</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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=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>



<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_4f786e226ffa466e92e7a67c7"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&#160;&nbsp;</font></font><a name="XBRL_FS_d0fe641039aa4985bcb271186"></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;&#160;&#160;&#160;&#160; 2018 figures
correspond mainly to the agreement with Cerberus to transfer the &quot;Real
Estate&quot; business in Spain (see Note 3).</font></font><a name="XBRL_FS_d0fe641039aa4985bcb271186_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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&#160;<a name="XBRL_FS_1999614767054acd8dfa582ba"></a>(**)&#160;&#160;&#160;&#160;&#160; 2020 figures correspond
mainly to the sale of BBVA&#180;s stake in BBVA USA (see Note 3). 2019 figures
correspond mainly to the BBVA&#180;s stake in BBVA Paraguay (see Note 3).<a name="XBRL_FS_1999614767054acd8dfa582ba_bclEnd"></a></font></font></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;"><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;<a name="XBRL_FS_5e0a1344e22b455fa7edf13de"></a>(***)&#160;&#160; Corresponds
to the accumulated depreciation of assets before their classification as
&quot;Non-current assets and disposal groups classified as held for sale&quot;.<a name="XBRL_FS_5e0a1344e22b455fa7edf13de_bclEnd"></a></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;"><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;">Assets and liabilities from discontinued operations</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 mentioned in Note 3, in 2020 the
agreement for the sale of the BBVA subsidiary in the United States was
announced. The assets and liabilities corresponding to the companies for sale
were reclassified to 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; of the consolidated balance sheet as of December 31, 2020; and
the earnings of these companies for the years ended December 31, 2020, 2019 and
2018 were classified under the heading &quot;Profit (loss) after tax from
discontinued operations&quot; of the accompanying consolidated income
statements (see Note 1.3). </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The condensed consolidated balance
sheets, condensed consolidated income statements and condensed consolidated
statements of cash flow of the companies for sale in the United States
subsidiary for the years 2020, 2019 and 2018 are provided below:</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%;">Condensed balance sheets of companies held for sale
in the United States subsidiary as of December 31, 2020, 2019 and 2018</font></b></font><a name="XBRL_TS_4f786e226ffa466e92e7a67c7_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_EEFF_BAL_USA_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.75pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;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:7.5pt;">CONDENSED
  ASSETS (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=53% 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=red face=Arial,sans-serif style="border:none;"><b><font color=red face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">2020</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">2019</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Cash, cash
  balances at central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap width=11% 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 lang=EN-US style="font-size:7.5pt;">&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:7.5pt;">11,368</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:7.5pt;">5,678</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:7.5pt;">2,326</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Financial
  assets held for trading</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</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:7.5pt;">821</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:7.5pt;">513</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:7.5pt;">228</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=53% 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:7.5pt;">Non-trading financial assets mandatorily at fair value through
  profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="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:7.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">13</font></font></p>
  </td>
 <td nowrap width=12% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">18</font></font></p>
  </td>
 <td nowrap width=12% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">18</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Financial
  assets at fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</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:7.5pt;">4,974</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:7.5pt;">6,834</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:7.5pt;">10,030</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Financial
  assets at amortized cost</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</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:7.5pt;">61,558</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:7.5pt;">62,860</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:7.5pt;">59,302</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Derivatives - hedge
  accounting</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</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:7.5pt;">9</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:7.5pt;">10</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:7.5pt;">23</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:7.5pt;">Tangible assets</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:7.5pt;">&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:7.5pt;">799</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">900</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">665</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Intangible assets </font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</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:7.5pt;">1,949</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:7.5pt;">4,183</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:7.5pt;">5,438</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Tax assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</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:7.5pt;">360</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:7.5pt;">263</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:7.5pt;">446</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Other assets </font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</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:7.5pt;">1,390</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:7.5pt;">1,463</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:7.5pt;">1,401</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Non-current
  assets and disposal groups classified as held for sale </font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</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:7.5pt;">16</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:7.5pt;">31</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:7.5pt;">30</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=53% style="background:#5AC4C4;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:7.5pt;">TOTAL ASSETS</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.5pt;">83,257</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.5pt;">82,751</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.5pt;">79,908</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap valign=bottom width=53% style="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:7.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;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:7.5pt;">CONDENSED
  LIABILITIES (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=53% 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 lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">2020</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">2019</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Financial
  liabilities held for trading </font></font></p>
  </td>
 <td nowrap width=11% 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 lang=EN-US style="font-size:7.5pt;">&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:7.5pt;">98</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:7.5pt;">94</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:7.5pt;">114</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Financial
  liabilities at amortized cost </font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</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:7.5pt;">73,132</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:7.5pt;">70,438</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:7.5pt;">66,635</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=53% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">Derivatives - hedge
  accounting</font></font></p>
  </td>
 <td nowrap width=11% style="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 style="font-size:7.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">2</font></font></p>
  </td>
 <td nowrap width=12% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">11</font></font></p>
  </td>
 <td nowrap width=12% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Provisions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</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:7.5pt;">157</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:7.5pt;">186</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:7.5pt;">172</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Tax liabilities </font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</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:7.5pt;">201</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:7.5pt;">87</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:7.5pt;">249</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.5pt;">Other liabilities </font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</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:7.5pt;">492</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:7.5pt;">464</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:7.5pt;">497</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=53% style="background:#5AC4C4;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:7.5pt;">TOTAL LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:9.75pt;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;"><font color=white face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.5pt;">74,082</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.5pt;">71,279</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.5pt;">67,688</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% style="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:7.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;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:7.0pt;">ACCUMULATED
  OTHER COMPREHENSIVE INCOME (LOSS) (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=53% 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 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:9.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2020</font></b></font></p>
  </td>
 <td 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=#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=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=#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:9.75pt;">
  <td width=53% 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:7.0pt;">Actuarial gains
  (losses) on defined benefit pension plans</font></font></p>
  </td>
 <td nowrap width=11% 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=#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=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:7.0pt;">(66)</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:7.0pt;">(80)</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:7.0pt;">(69)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.0pt;">Hedge of net
  investments in foreign operations (effective portion)</font></font></p>
  </td>
 <td nowrap width=11% style="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 lang=EN-US style="font-size:7.0pt;">&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:7.0pt;">(432)</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:7.0pt;">(432)</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:7.0pt;">(432)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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;">Foreign currency
  translation </font></font></p>
  </td>
 <td nowrap width=11% style="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=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:7.0pt;">801</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:7.0pt;">1,576</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:7.0pt;">1,337</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=53% 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:7.0pt;">Hedging
  derivatives. Cash flow hedges (effective portion)</font></font></p>
  </td>
 <td nowrap width=11% style="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 lang=EN-US style="font-size:7.0pt;">&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:7.0pt;">250</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:7.0pt;">81</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:7.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=53% 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 debt instruments measured at fair value through other
  comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">70</font></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 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=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 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:9.75pt;">
  <td width=53% style="background:#5AC4C4;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:7.0pt;">ACCUMULATED
  OTHER COMPREHENSIVE INCOME (LOSS)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">622</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1,134</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">710</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-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">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_88b3199997e3472196f4224cb"></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%;">Condensed income statements of companies held for sale in the United
States subsidiary for the years ended December 31, 2020, 2019 and 2018</font></b></font><a name="XBRL_TS_88b3199997e3472196f4224cb_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_EEFF_RES_USA_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:18.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;height:18.0pt;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:7.0pt;">CONDENSED
  INCOME STATEMENTS (Millions of Euros)</font></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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2020</font></b></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=#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=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=#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=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;">Interest and other
  income</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:7.0pt;">&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:7.0pt;">2,638</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:7.0pt;">3,221</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:7.0pt;">2,797</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:7.0pt;">Interest expense</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 style="font-size:7.0pt;">&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:7.0pt;">(429)</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:7.0pt;">(887)</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:7.0pt;">(570)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">NET INTEREST INCOME</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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2,209</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:7.0pt;">2,335</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:7.0pt;">2,227</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td 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;">Dividend income </font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:7.0pt;">&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:7.0pt;">4</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:7.0pt;">10</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:7.0pt;">13</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:7.0pt;">Fee and commission
  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 style="font-size:7.0pt;">&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:7.0pt;">677</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:7.0pt;">736</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:7.0pt;">670</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:7.0pt;">Fee and commission
  expense</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 style="font-size:7.0pt;">&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:7.0pt;">(183)</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:7.0pt;">(205)</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:7.0pt;">(194)</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">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: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 lang=EN-US style="font-size:7.0pt;">&nbsp;</font></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 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=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 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=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 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=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:7.0pt;">Gains (losses)
  on financial assets and liabilities held for trading, net</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:7.0pt;">&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:7.0pt;">90</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:7.0pt;">30</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:7.0pt;">66</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">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: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 lang=EN-US style="font-size:7.0pt;">&nbsp;</font></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 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=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 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=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 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:18.0pt;">
  <td width=52% 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;">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: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 lang=EN-US style="font-size:7.0pt;">&nbsp;</font></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 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=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 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=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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3</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:7.0pt;">Gains (losses)
  from hedge accounting, net </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:7.0pt;">&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:7.0pt;">4</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:7.0pt;">4</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:7.0pt;">3</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:7.0pt;">Exchange differences,
  net</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 style="font-size:7.0pt;">&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:7.0pt;">19</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:7.0pt;">5</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:7.0pt;">(22)</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:7.0pt;">Other operating
  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 style="font-size:7.0pt;">&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:7.0pt;">19</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:7.0pt;">32</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:7.0pt;">20</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:7.0pt;">Other operating
  expense</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 style="font-size:7.0pt;">&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:7.0pt;">(63)</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:7.0pt;">(64)</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:7.0pt;">(79)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">GROSS INCOME</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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2,808</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:7.0pt;">2,941</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:7.0pt;">2,731</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td 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;">Administration costs</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:7.0pt;">&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:7.0pt;">(1,462)</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:7.0pt;">(1,534)</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:7.0pt;">(1,474)</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:7.0pt;">Depreciation and
  amortization</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 style="font-size:7.0pt;">&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:7.0pt;">(205)</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:7.0pt;">(214)</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:7.0pt;">(174)</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:7.0pt;">Provisions or
  reversal of provisions</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:7.0pt;">&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:7.0pt;">2</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:7.0pt;">(3)</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:7.0pt;">22</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">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: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 lang=EN-US style="font-size:7.0pt;">&nbsp;</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(729)</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(521)</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(221)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">NET OPERATING
  INCOME</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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">413</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:7.0pt;">670</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:7.0pt;">884</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">Impairment or
  reversal of impairment on non-financial assets</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=12% 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;">(2,084)</font></font></p>
  </td>
 <td nowrap width=12% 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;">(1,318)</font></font></p>
  </td>
 <td nowrap width=12% 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;">(1)</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:7.0pt;">Gains (losses)
  on derecognition of non-financial assets and subsidiaries, net</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:7.0pt;">&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:7.0pt;">(3)</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:7.0pt;">2</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:7.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">Gains (losses)
  from non-current assets and disposal groups classified as held for sale not
  qualifying as discontinued operations&#160; </font></font></p>
  </td>
 <td nowrap width=12% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=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 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=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 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=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 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=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:7.0pt;">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: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:7.0pt;">&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:7.0pt;">(1,671)</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:7.0pt;">(648)</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:7.0pt;">881</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td 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;">Tax expense or
  income related to profit or loss from continuing operations</font></font></p>
  </td>
 <td nowrap width=12% 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=#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=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:7.0pt;">(57)</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:7.0pt;">(110)</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:7.0pt;">(177)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">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: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:7.0pt;">&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:7.0pt;">(1,729)</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:7.0pt;">(758)</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:7.0pt;">704</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% 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;">Profit (loss)
  after tax from discontinued operations</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><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=12% 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 nowrap width=12% 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 nowrap width=12% 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>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% style="background:#5AC4C4;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;">PROFIT (LOSS)
  FOR THE PERIOD</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(1,729)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(758)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">704</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=52% style="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;">ATTRIBUTABLE TO MINORITY INTEREST (NON-CONTROLLING INTEREST)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 lang=EN-US style="font-size:7.0pt;">&nbsp;</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=#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=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=#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=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=#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:9.0pt;">
  <td width=52% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">ATTRIBUTABLE TO
  OWNERS OF THE PARENT</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(1,729)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(758)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">704</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-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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_83475579ebbd4b299064b940a"></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%;">Condensed statements of cash flows of companies held for sale in the
United States subsidiary for the years ended December 31, 2020, 2019 and 2018</font></b></font><a name="XBRL_TS_83475579ebbd4b299064b940a_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_EEFF_FLUJOS_USA_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=5 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">CONDENSED
  STATEMENTS OF CASH FLOWS (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=53% 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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2020</font></b></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=#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=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=#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 nowrap width=53% 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;">A) CASH FLOWS
  FROM OPERATING ACTIVITIES</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:7.0pt;">&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:7.0pt;">6,874</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:7.0pt;">3,888</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:7.0pt;">(228)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=53% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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;">B) CASH FLOWS
  FROM INVESTING ACTIVITIES</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:7.0pt;">&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:7.0pt;">(145)</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:7.0pt;">(133)</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:7.0pt;">(123)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=53% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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;">C) CASH FLOWS
  FROM FINANCING ACTIVITIES</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:7.0pt;">&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:7.0pt;">(65)</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:7.0pt;">(468)</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:7.0pt;">(256)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=53% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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;">D) EFFECT OF
  EXCHANGE RATE CHANGES</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:7.0pt;">&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:7.0pt;">(974)</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:7.0pt;">65</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:7.0pt;">84</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=53% style="background:#5AC4C4;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;">(INCREASE/DECREASE)
  NET CASH AND CASH EQUIVALENTS (A+B+C+D)</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">5,690</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">3,352</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(522)</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_TS_98b042bf27f44e55b0acf2ad5"></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%;">Non-current </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;line-height:115%;">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:9.0pt;line-height:115%;"> 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 changes
in the balances of &#8220;Non-current assets and disposal groups classified as held
for sale&#8221; in 2020, 2019 and 2018 are as follows:</font></font><a name="XBRL_TS_98b042bf27f44e55b0acf2ad5_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:11.25pt;">
  <td colspan=6 width=100% style="background:#E9E9E9;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;">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;">Changes in the year 2020 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=35% style="height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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: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;">Foreclosed assets</font></b></font></p>
  </td>
 <td width=15% 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;">Property, Plant and Equipment (*)</font></b></font></p>
  </td>
 <td width=14% 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;">Companies held for sale (**)</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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:8.0pt;">Cost (1)</font></b></font></p>
  </td>
 <td nowrap width=12% 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=12% 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=15% 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=14% 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=12% 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=35% style="background:#5AC4C4;border:none;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=12% style="background:#5AC4C4;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=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;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,648</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">258</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,716</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,622</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% 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;">Additions </font></font></p>
  </td>
 <td nowrap width=12% 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=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">285</font></font></p>
  </td>
 <td nowrap width=15% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">83,266</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">83,551</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% 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;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td nowrap width=12% 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=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=14% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% 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;">Retirements
  (sales and other decreases)</font></font></p>
  </td>
 <td nowrap width=12% 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=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(288)</font></font></p>
  </td>
 <td nowrap width=15% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(45)</font></font></p>
  </td>
 <td nowrap width=14% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(190)</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(523)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% 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;">Transfers,
  other movements and exchange differences (**)</font></font></p>
  </td>
 <td nowrap width=12% 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=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(228)</font></font></p>
  </td>
 <td nowrap width=15% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">180</font></font></p>
  </td>
 <td nowrap width=14% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(48)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% 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;">Disposals by
  companies held for sale</font></font></p>
  </td>
 <td nowrap width=12% 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=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(19)</font></font></p>
  </td>
 <td nowrap width=15% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=14% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% style="background:#5AC4C4;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=12% style="background:#5AC4C4;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=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,398</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">391</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">84,792</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">86,581</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=35% style="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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#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=12% 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=15% 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=14% 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=12% 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>
 </tr>
<tr style="height:11.25pt;">
  <td 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:8.0pt;">Impairment (2)</font></b></font></p>
  </td>
 <td nowrap width=12% 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=12% 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=15% 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=14% 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=12% 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=35% style="background:#5AC4C4;border:none;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=12% style="background:#5AC4C4;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=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;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">411</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">132</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=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=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">543</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% 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;">Additions </font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">50</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">74</font></font></p>
  </td>
 <td nowrap width=15% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=14% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">103</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% 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;">Additions
  transfer to discontinued operations</font></font></p>
  </td>
 <td nowrap width=12% 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=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=14% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% 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;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td nowrap width=12% 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=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=14% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% 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;">Retirements
  (sales and other decreases)</font></font></p>
  </td>
 <td nowrap width=12% 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=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(56)</font></font></p>
  </td>
 <td nowrap width=15% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(13)</font></font></p>
  </td>
 <td nowrap width=14% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(69)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% 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;">Other movements
  and exchange differences</font></font></p>
  </td>
 <td nowrap width=12% 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=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(42)</font></font></p>
  </td>
 <td nowrap width=15% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">60</font></font></p>
  </td>
 <td nowrap width=14% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">18</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% 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;">Disposals by
  companies held for sale</font></font></p>
  </td>
 <td nowrap width=12% 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=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=15% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% style="background:#5AC4C4;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=12% style="background:#5AC4C4;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=12% style="background:#5AC4C4;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=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=15% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">208</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=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=12% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">594</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=35% style="background:#5AC4C4;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:8.0pt;">Balance at the
  end of net carrying value (1)-(2)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,012</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">183</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">84,792</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">85,987</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_0245670630104a2b80a8282be"></a><a name="XBRL_FS_6aeac612c5f442418dc225520"></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;&#160; &#160;&#160;&#160;&#160;Net
of accumulated amortization until assets were reclassified as &#8220;Non-current
assets and disposal groups classified as held for sale&#8221;</font></font><a name="XBRL_FS_6aeac612c5f442418dc225520_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.25pt;margin-right:0cm;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;">(** )&#160;&#160;&#160;&#160;&#160;&#160; The variation
corresponds mainly to the agreement for the sale of BBVA USA (see Note 3).</font></font><a name="XBRL_TS_0245670630104a2b80a8282be_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-132</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_373"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<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:11.25pt;">
  <td colspan=6 width=100% style="background:#E9E9E9;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;">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;">Changes in the year 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td valign=bottom width=37% style="height:33.75pt;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=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=#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: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:8.0pt;">Foreclosed assets</font></b></font></p>
  </td>
 <td width=14% 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:8.0pt;">Property, Plant and Equipment (*)</font></b></font></p>
  </td>
 <td width=16% 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:8.0pt;">Companies held for sale (**)</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=#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 width=37% 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 (1)</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=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:11.25pt;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=14% 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=16% 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=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=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=37% style="background:#5AC4C4;border:none;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=11% style="background:#5AC4C4;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=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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,211</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">389</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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=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=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,629</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% 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;">Additions </font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">665</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;">10</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:8.0pt;">1,676</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,351</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% 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;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2</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=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:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% 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;">Retirements
  (sales and other decreases)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,023)</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;">(206)</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:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,229)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% 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;">Transfers,
  other movements and exchange differences (**)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(207)</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;">65</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:8.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(131)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,648</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">258</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,716</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,622</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=37% style="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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=11% 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=14% 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=16% 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=11% 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>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% 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 (2)</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=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:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=14% 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=16% 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=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=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=37% style="background:#5AC4C4;border:none;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=11% style="background:#5AC4C4;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=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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">504</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=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=16% style="background:#5AC4C4;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=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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">628</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% 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;">Additions </font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">50</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">67</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;">5</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:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">72</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% 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;">Additions
  transfer to discontinued operations</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5</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=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:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% 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;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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=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:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% 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;">Retirements
  (sales and other decreases)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(164)</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;">(22)</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:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(186)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% 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;">Other movements
  and exchange differences</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(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;">25</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:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">24</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">411</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">132</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=37% style="background:#5AC4C4;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:8.0pt;">Balance at the
  end of net carrying value (1)-(2)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,237</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,716</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,079</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_13cc06c23aa6459eb641124cf"></a><a name="XBRL_FS_5d004d773d2a46b0be36e35f8"></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;&#160;&#160;&#160;&#160;&#160; Net
of accumulated amortization until assets were reclassified as &#8220;Non-current
assets and disposal groups classified as held for sale&#8221;</font></font><a name="XBRL_FS_5d004d773d2a46b0be36e35f8_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%;"> </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.25pt;margin-right:0cm;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;">(** )&#160;&#160;&#160;&#160;&#160;&#160; The variation
corresponds mainly to the BBVA&#8217;s stake in BBVA Paraguay (see Note 3).</font></font><a name="XBRL_TS_13cc06c23aa6459eb641124cf_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-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 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:11.25pt;">
  <td colspan=6 width=100% style="background:#E9E9E9;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;">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;">Changes in the year 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td nowrap valign=bottom width=46% style="height:33.75pt;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=11% 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=#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-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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Foreclosed assets</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.75pt;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;">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:8.0pt;">(*)</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.75pt;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;">Companies held for sale (**)</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:33.75pt;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;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% 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 (1)</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=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:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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: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 nowrap width=46% style="background:#5AC4C4;border:none;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=11% style="background:#5AC4C4;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=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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">6,207</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">371</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">18,623</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">25,201</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% 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;">Additions </font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">692</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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:8.0pt;">696</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% 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;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% 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;">Retirements
  (sales and other decreases)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(4,489)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(227)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(18,594)</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:8.0pt;">(23,310)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% 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;">Transfers,
  other movements and exchange differences (**)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(199)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">241</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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:8.0pt;">42</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,211</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">389</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,629</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=46% style="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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=11% 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=11% 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=11% 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=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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% 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 (2)</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=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:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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: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 nowrap width=46% style="background:#5AC4C4;border:none;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=11% style="background:#5AC4C4;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=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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,154</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=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=11% style="background:#5AC4C4;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=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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,348</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% 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;">Additions </font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">50</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">204</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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:8.0pt;">206</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% 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;">Additions
  transfer to discontinued operations</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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:8.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% 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;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% 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;">Retirements
  (sales and other decreases)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(830)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(101)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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:8.0pt;">(931)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% 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;">Other movements
  and exchange differences</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(26)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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:8.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">504</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">628</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=46% style="background:#5AC4C4;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:8.0pt;">Balance at the
  end of net carrying value (1)-(2)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,707</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,001</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_27bf59888b9646d0a95b84606"></a><a name="XBRL_FS_7ce784c8219e442e98723de8f"></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;&#160;&#160;&#160;&#160;&#160; Net
of accumulated amortization until assets were reclassified as &#8220;Non-current
assets and disposal groups classified as held for sale&#8221;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_7ce784c8219e442e98723de8f_bclEnd"></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;&#160;&#160;&#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></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 carrying amount.
As of December 31, 2020, 2019 and 2018 practically all of the carrying amount
of the assets recorded at fair value on a non-recurring basis coincides with
their fair value.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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:9.0pt;">Assets from
foreclosures or recoveries</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 of
December 31, 2020, 2019 and 2018, assets from foreclosures and recoveries, net
of impairment losses, by nature of the asset, amounted to &#8364;747, &#8364;871 and &#8364;1,072
million in assets for residential use; &#8364;215, &#8364;259 and &#8364;182 million in assets
for tertiary use (industrial, commercial or office) and &#8364;21, &#8364;28 and &#8364;19
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, 2020, 2019 and
2018, 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 2020, 2019 and
2018, some of the sale transactions for these assets were financed by Group
companies. The amount of loans granted to the buyers of these assets in those
years amounted to &#8364;78, &#8364;79 and &#8364;82 million, respectively; with an average
financing of 28.3% of the sales price during 2020.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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, 2020, 2019 and
2018, the amount of the profits arising from the sale of assets financed by
Group companies that are not recognized in the consolidated income statement
amounted to &#8364;1 million.</font></font><a name="XBRL_TS_27bf59888b9646d0a95b84606_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_9b74cf48b62346f0ab326b71e"></a><a name="_Toc495478136"></a><a name="_Toc481589084"></a><a name="_Toc474142276"></a><a name="_Toc457490029"></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-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">
<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;line-height:115%;">22. 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;line-height:115%;">22.1. 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_9b74cf48b62346f0ab326b71e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalanceD_22_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 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=41% 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=17% 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;"><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: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;">2020</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;">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:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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;">Deposits</font></font></p>
  </td>
 <td width=17% 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=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;">415,467</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;">438,919</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;">435,229</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% 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 width=17% 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=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;">45,177</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;">25,950</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;">27,281</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% 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 width=17% style="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=#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:12.75pt;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;">163</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=#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=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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">20</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% 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 and
  other</font></font></p>
  </td>
 <td width=17% style="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=#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:12.75pt;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;">38,274</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=#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=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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">26,885</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=41% style="height:15.75pt;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 width=17% style="height:15.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">6,740</font></font></p>
  </td>
 <td nowrap width=14% 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=#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=14% 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=#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>
 </tr>
<tr style="height:18.0pt;">
  <td width=41% style="height:18.0pt;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 credit
  institutions</font></font></p>
  </td>
 <td width=17% style="height:18.0pt;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=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:8.0pt;">27,629</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:8.0pt;">28,751</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:8.0pt;">31,978</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% 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 width=17% style="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=#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:12.75pt;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;">7,196</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=#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=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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">8,370</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% 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 and
  other </font></font></p>
  </td>
 <td width=17% style="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=#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:12.75pt;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;">16,079</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=#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=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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">19,015</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% 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 width=17% style="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=#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:12.75pt;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;">4,354</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=#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=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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">4,593</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% 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 width=17% 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=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;">342,661</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;">384,219</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;">375,970</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% 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 width=17% style="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=#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:12.75pt;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;">266,250</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=#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=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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">260,573</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% 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 and
  other </font></font></p>
  </td>
 <td width=17% style="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=#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:12.75pt;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;">75,666</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=#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=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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">114,188</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% 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 width=17% style="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=#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:12.75pt;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;">746</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=#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=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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,209</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=41% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 width=17% style="height:13.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">61,780</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">Other financial
  liabilities</font></font></p>
  </td>
 <td width=17% 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=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;">13,358</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;">13,758</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;">12,844</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=41% style="background:#5AC4C4;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 width=17% style="background:#5AC4C4;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=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">490,606</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_796cccc959ee40b1980a6000e"></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;&nbsp;</font></font><a name="XBRL_FS_cf338ea1d40c429e9933a8e73"></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
35. </font></font><a name="XBRL_FS_cf338ea1d40c429e9933a8e73_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_FS_24e2ced07e9f4b9da093c42b0"></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%;">(**) Amount in 2020 is mainly due to the stake in BBVA USA (see
Note 21).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_FS_24e2ced07e9f4b9da093c42b0_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%;">The amount recorded in Deposits from central banks - Time deposits
includes the provisions of the TLTRO III facilities of the European Central
Bank, mainly BBVA S.A. amounting to &#8364;35,032 million as of December 31, 2020,
that basically explains the change compared to the previous year (see Note
7.5).</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%;">On April 30, 2020, the European
Central Bank modified some of the terms and conditions of the TLTRO III
facilities in order to support the continued access of companies and households
to bank credit in the face of interruptions and temporary shortages of funds
associated with the COVID-19 pandemic. Entities whose eligible net lending
exceeds 0% between March 1, 2020 and March 31, 2021 will pay an interest rate
0.5% lower than the average rate of the deposit facilities during the period
that includes from June 24, 2020 to June 23, 2021. This means that the interest
rate applicable to the facilities drawn down is -1%. Outside of this period,
the average interest rate of the deposit facilities will be applied (currently
-0.5%) provided that the financing objectives are met according to the
conditions of the European Central 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%;">The Group is reasonably certain
about the fulfillment of these financing objectives. Therefore, the effective
interest rate of each facility is -0.5% and the accounting registration of the
discount in the interest rate associated with the COVID-19 pandemic is
recognized during the annual period from June 24, 2020 to June 23, 2021.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The positive remuneration currently
being generated by the drawdowns of the TLTRO III facilities is recorded under
the heading of &quot;Interest income and other similar income &#8211; other
income&quot; in the consolidated income statements and amounts to &#8364;211 million
as of December 31, 2020 (See Note 37.1).
</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="_Toc474142277"></a><a name="_Toc376972370"></a><a name="_Toc376949962"></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-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">
<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;line-height:115%;">22.2. 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_796cccc959ee40b1980a6000e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_N22_DepEC_dicY0_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=#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 2020 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td width=33% 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=16% 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 and 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=33% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Spain</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;">345</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;">1,405</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;">1,751</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">689</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;">672</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;">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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,549</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">580</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;">28</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>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">South America</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;">557</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;">1,484</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;">2,041</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Rest of Europe</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;">2,842</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;">4,531</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;">4,070</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;">11,444</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Rest of the world</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;">2,755</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;">7,406</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;">67</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;">10,228</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="background:#5AC4C4;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">7,196</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">16,079</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">4,354</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">27,629</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_57dd004543ba4867a82eb36ab"></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;&#160;&#160;
Subordinated deposits are included amounting &#8364;12 million.</font></font><a name="XBRL_TS_57dd004543ba4867a82eb36ab_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_N22_DepEC_dicY1_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=#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=36% 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=16% 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=16% 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 and other (*)</font></b></font></p>
  </td>
 <td width=16% 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=16% 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=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;">Spain</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;">2,104</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;">1,113</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;">1</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;">3,218</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">2,082</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;">4,295</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;">-</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;">6,377</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">432</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;">1,033</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;">168</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;">1,634</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">302</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;">617</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;">4</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;">924</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">South America</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;">394</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;">2,285</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;">161</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;">2,840</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">Rest of Europe</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;">1,652</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;">5,180</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;">2,358</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;">9,190</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">Rest of the world</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;">194</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;">4,374</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;">-</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;">4,568</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=36% style="background:#5AC4C4;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 nowrap width=16% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 nowrap width=16% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 nowrap width=16% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:10.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_FS_e576874b1b1c481bbc67a9dff"></a><a name="XBRL_TS_c1cb5291a2e945c695c9fe88f"></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;&#160;&#160;
Subordinated deposits are included amounting &#8364;195 million.</font></font><a name="XBRL_FS_e576874b1b1c481bbc67a9dff_bclEnd"></a><a name="XBRL_TS_c1cb5291a2e945c695c9fe88f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_N22_DepEC_dicY2_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=#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=36% 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=16% 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=16% 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 and other (*)</font></b></font></p>
  </td>
 <td width=16% 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=16% 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=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;">Spain</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;">1,981</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;">2,527</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;">55</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;">4,563</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">1,701</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;">2,677</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;">-</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;">4,379</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">280</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;">286</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;">-</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;">566</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">651</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;">669</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;">4</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;">1,323</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">South America</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;">442</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;">1,892</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;">-</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;">2,335</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">Rest of Europe</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;">3,108</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;">6,903</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;">4,534</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;">14,545</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">Rest of the world</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;">207</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;">4,061</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;">-</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;">4,268</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=36% style="background:#5AC4C4;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:10.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_FS_c435f36440f2414ba9512bdd8"></a><a name="XBRL_TS_11f8a6f1cab8449eb7a494a98"></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;&#160;&#160;
Subordinated deposits are included amounting &#8364;191 million.</font></font><a name="XBRL_FS_c435f36440f2414ba9512bdd8_bclEnd"></a><a name="XBRL_TS_11f8a6f1cab8449eb7a494a98_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</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_c9a574485e974a31b9c01da2a"></a><a name="_Toc474142278"></a><a name="_Toc376972371"></a><a name="_Toc376949963"></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-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>

</DIV>
</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">
<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;line-height:115%;">22.3. 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_c9a574485e974a31b9c01da2a_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_N22_DepCL_dicY0_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=#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 2020 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td width=25% 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=19% 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=19% 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=19% 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=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;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=25% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Spain</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;">168,690</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;">20,065</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;">2</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;">188,757</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=25% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Mexico</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;">43,768</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;">10,514</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;">117</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;">54,398</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=25% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Turkey</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;">17,906</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;">16,707</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;">8</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;">34,621</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=25% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">South America</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;">25,730</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;">11,259</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;">-</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;">36,989</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=25% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Rest of Europe</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;">8,435</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;">12,373</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;">619</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;">21,427</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=25% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Rest of the world</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;">1,720</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;">4,748</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;">-</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;">6,468</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=25% style="background:#5AC4C4;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=19% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">266,250</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">75,666</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">746</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">342,661</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:13.9pt;text-indent:-13.9pt;"><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_N22_DepCL_dicY1_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=#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=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 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 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;">146,651</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;">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=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;">46,372</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;">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=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;">43,326</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;">12,714</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=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;">13,775</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;">22,257</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=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;">22,748</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;">13,913</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=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;">6,610</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;">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=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 the world</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;">909</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;">892</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;">1,801</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="background:#5AC4C4;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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=17% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=17% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=17% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:10.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_FS_47d2fec5e83b4c4a9d194b77a"></a><a name="XBRL_TS_6ed5470999b74ce08b9970723"></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;&#160;&#160;
Subordinated deposits are included amounting to &#8364;189 million.</font></font><a name="XBRL_FS_47d2fec5e83b4c4a9d194b77a_bclEnd"></a><a name="XBRL_TS_6ed5470999b74ce08b9970723_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_N22_DepCL_dicY2_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=#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 2018 (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 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 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;">138,236</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;">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 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;">41,222</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;">21,317</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 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;">38,383</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;">11,837</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 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;">10,856</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;">22,564</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 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;">23,811</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;">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 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;">7,233</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;">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 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 the world</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;">831</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;">1,731</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;">2,563</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="background:#5AC4C4;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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=17% style="background:#5AC4C4;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:10.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_FS_e08624156c734500840d150df"></a><a name="XBRL_TS_1276dd9d7e2c43688cd25bf03"></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;&#160;&#160;
Subordinated deposits are included amounting to &#8364;220 million.</font></font><a name="XBRL_FS_e08624156c734500840d150df_bclEnd"></a><a name="XBRL_TS_1276dd9d7e2c43688cd25bf03_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</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_e99c707a453c456a8f6d4f971"></a><a name="_Toc474142279"></a><a name="_Toc376972372"></a><a name="_Toc376949964"></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-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">
<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;line-height:115%;">22.4. 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_e99c707a453c456a8f6d4f971_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalanceD_22.4def_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:13.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;height:13.0pt;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:21.0pt;">
  <td width=55% 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=15% 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;">2020</font></b></font></p>
  </td>
 <td width=15% 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=15% 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>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;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;">In Euros</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">42,462</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">40,185</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">37,436</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Promissory bills and
  notes</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">860</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">737</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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-convertible
  bonds and debentures</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">14,538</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">12,248</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Covered bonds (*)</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13,274</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,542</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,809</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Hybrid financial
  instruments (**)</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">814</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Securitization bonds</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,630</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,331</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;">
  <td width=55% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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
  liabilities</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,566</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,968</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,136</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;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;">Convertible
  perpetual certificates</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">4,500</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">5,000</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">5,490</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;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;">Convertible
  subordinated debt</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;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;">Non-convertible
  preferred stock</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">159</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">83</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">107</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;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
  non-convertible subordinated liabilities</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">3,907</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">2,885</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">3,540</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;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;">In foreign
  currencies</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">19,318</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">23,778</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">23,676</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Promissory bills and
  notes</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,024</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,210</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,237</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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-convertible
  bonds and debentures</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,691</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,587</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,335</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Covered bonds (*)</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">569</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Hybrid financial
  instruments (**)</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,156</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,455</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Securitization bonds</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;">
  <td width=55% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,016</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;">
  <td width=55% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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
  liabilities</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,911</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,666</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,499</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;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;">Convertible
  perpetual certificates</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">1,633</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">1,782</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">873</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;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;">Convertible
  subordinated debt</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;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;">Non- convertible
  preferred stock</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">35</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">76</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">74</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="height:13.0pt;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
  non-convertible subordinated liabilities</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">6,243</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">7,808</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.0pt;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;">7,552</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=55% style="background:#5AC4C4;height:13.0pt;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;Total&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">61,780</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">63,963</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">61,112</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><a name="XBRL_TS_68928ae3211b465bbf6bb090c"></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;&nbsp;</font></font><a name="XBRL_FS_4c629e09e2914cdab21b3b962"></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%;">(*) Including mortgage-covered bonds.</font></font><a name="XBRL_FS_4c629e09e2914cdab21b3b962_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><a name="XBRL_FS_127d8a4b1fb14530b3971aa63"></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; Corresponds to the issuance of structured notes whose
underlying risk differs from the underlying risk of the derivative. </font></font><a name="XBRL_FS_127d8a4b1fb14530b3971aa63_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%;">Most of the foreign currency issues
are denominated in U.S. dollars.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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:9.0pt;line-height:115%;">22.4.1. 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:9.0pt;line-height:115%;">The
breakdown of this heading, is as follows:</font></font><a name="XBRL_TS_68928ae3211b465bbf6bb090c_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_22.4.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:13.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;height:13.0pt;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;">Memorandum
  item: Subordinated liabilities at amortized cost </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 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=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=#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 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=#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:13.5pt;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>
 </tr>
<tr style="height:13.5pt;">
  <td width=58% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Subordinated deposits</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;">12</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;">384</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;">411</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=58% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16,476</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=58% style="height:13.0pt;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;">Preferred stock</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;">
  <td width=58% style="height:13.0pt;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;">Compound convertible
  financial instruments </font></font></p>
  </td>
 <td nowrap width=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,133</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=58% style="height:13.0pt;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:8.0pt;">Other
  non-convertible subordinated liabilities (*)</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,149</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=14% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=58% style="background:#5AC4C4;height:13.0pt;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;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">16,488</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_8dee52ee1d5f465b94cfcef55"></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%;">&nbsp;</font></font></p><p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_FS_6832ce64a6224abcbdedcc457"></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%;">(*) </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:6.0pt;line-height:115%;">Subordinated issues of BBVA Paraguay as of December 31, 2020 and 2019 are recorded in the consolidated balance sheet under the heading &#8220;Liabilities included in disposal groups classified as held for sale&quot; amounting to &#8364;37 and &#8364;40 million, respectively. The subordinated issues of BBVA USA as of December 31, 2020 are recognized in the consolidated balance sheet under the heading &#8220;Liabilities included in disposal groups classified as held for sale&quot; amounting to &#8364;735 million (see Note 21).</font></font><a name="XBRL_FS_6832ce64a6224abcbdedcc457_bclEnd"></a></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
issuances of </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%;">BBVA International
Preferred, S.A.U., Ltd., Caixa Terrassa Societat de Participacions Preferents,
S.A.U. and CaixaSabadell Preferents, S.A.U.</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%;"> are jointly, severally and irrevocably guaranteed by
the Bank. </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
balance variances are mainly due to the following transactions:</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">
<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&#160; </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
for 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:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">In May and November 2017, BBVA carried out two issues of
perpetually convertible securities (additional Tier 1 capital instruments)
excluding shareholders' pre-emptive rights, for a nominal amount of 500 million
euros and 1,000 million U.S. dollars, respectively. These issues are listed on
the Global Exchange Market of Euronext Dublin of the Irish Stock Exchange and
were directed only to qualified investors and foreign private banking clients,
and cannot be placed or subscribed in Spain or among investors resident in
Spain.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">In September 2018 and March 2019,
BBVA carried out both issuances of perpetual contingent convertible securities
(additional tier 1 instruments), with exclusion of pre-emptive subscription
rights of shareholders, for a total nominal amount of &#8364;1 billion each. These
issuances are listed in the AIAF Fixed Income Securities Market and were
targeted only at professional clients and eligible counterparties, not being
offered or sold to any retail clients. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">On September 5, 2019, BBVA carried
out an issuance of perpetual contingent convertible securities (additional tier
1 instruments), with exclusion of pre-emptive subscription rights of
shareholders, for a total nominal amount of $1 billion. 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-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">On July 15, 2020, BBVA carried out
an issuance of perpetual contingent convertible securities (additional tier 1
instruments), with exclusion of pre-emptive subscription rights of
shareholders, for a total nominal amount of &#8364;1 billion. This issuance is listed
in the AIAF Fixed Income Securities Market and was targeted only at professional
clients and eligible counterparties, not being offered or sold to any retail
clients.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Additionally, an issue of perpetually convertible securities
(additional Tier 1 capital instruments) is outstanding, which was carried out
in April 2016, for an amount of 1,000 million euros, by virtue of previous
delegations of the shareholders' meeting. This issue was directed only to
qualified investors and foreign private banking clients, and cannot be placed
or subscribed in Spain or among investors residing in Spain. This issue is
listed on the Global Exchange Market of Euronext Dublin of the Irish Stock
Exchange and is computed 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:0cm;margin-bottom:10.0pt;text-align:justify;"><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
issuances may be fully redeemed at BBVA&#8217;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;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 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%;">On May 9, 2018, the Bank early
redeemed the issuance of contingently convertible preferred securities
(additional tier 1 instruments) carried out by the Bank on May 9, 2013, for an
amount of $1.5 billion on the First Reset Date of the issuance and once the
prior consent from the Regulator had been obtained. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">On February 19, 2019 the Bank early
redeemed the issuance of contingently convertible preferred securities
(additional tier 1 instruments), 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 had been obtained.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size: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%;">On February 18, 2020, the Bank
early redeemed the issuance of contingently convertible preferred securities
(additional tier 1 instruments) carried out by the Bank on February 18, 2015,
for an amount of &#8364;1.5 billion on the First Reset Date of the issuance and once
the prior consent from the Regulator had been obtained.</font></font></p>

<font color=#004580 face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:107%;">&nbsp;</font></b></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-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">
<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_8dee52ee1d5f465b94cfcef55_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_22.4.2_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.95pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;height:12.95pt;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:12.95pt;">
  <td width=51% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;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: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;">2020</font></b></font></p>
  </td>
 <td width=16% 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;">2019</font></b></font></p>
  </td>
 <td width=16% 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;">2018</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;">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;">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>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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;">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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">83</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;">98</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=51% 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;">BBVA USA</font></font></p>
  </td>
 <td nowrap width=17% 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=16% 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;">19</font></font></p>
  </td>
 <td nowrap width=16% 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;">19</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=51% 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;">BBVA Colombia</font></font></p>
  </td>
 <td nowrap width=17% 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=16% 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;">20</font></font></p>
  </td>
 <td nowrap width=16% 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;">19</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=51% 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</font></font></p>
  </td>
 <td nowrap width=17% 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=16% 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=16% 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;">9</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=51% style="background:#5AC4C4;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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=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;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=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;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=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>
 </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;"><a name="XBRL_TS_71fab244be2f4da19b6d8027a"></a><a name="XBRL_FS_95c92f054d3f466d81ecef125"></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) Call
exercised. </font></font><a name="XBRL_FS_95c92f054d3f466d81ecef125_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;"><a name="XBRL_FS_4bab9b42ed5647b0be3192378"></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) Unnim
Group: Issuances prior to the acquisition by BBVA.</font></font><a name="XBRL_FS_4bab9b42ed5647b0be3192378_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%;">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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">In
connection with the above, once the necessary authorization from the European
Central Bank was received and in conformity with its authority to redeem:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-GB style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-GB style="font-size:7.0pt;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-GB style="font-size:8.0pt;line-height:115%;">The</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> Extraordinary and Universal General Meeting of </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;line-height:115%;">Caixasabadell Preferents, S.A. Unipersonal, at its meeting held on
December 11, 2020, decided to delegate on the company&#8217;s Board of Directors the
authority to agree on the total early redemption of its only live issuance,
subject to the applicable legal provisions and having previously obtained all
necessary authorisations. In use of such delegation, having satisfied all legal
and contractual formalities required and having obtained all relevant
authorizations, the company&#8217;s Board of Directors, on the same date, agreed to
carry out the early redemption of the total nominal amount of the issuance on
January 14, 2021. As a result, once all necessary communications were released,
on January 14, 2021 the total early redemption of the issuance took place.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font 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-GB style="font-size:8.0pt;line-height:115%;">The</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> Extraordinary and Universal General Meeting of </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;line-height:115%;">BBVA International Preferred, S.A. Unipersonal, at its meeting
held on December 11, 2020, decided to delegate on the company&#8217;s Board of
Directors the authority to agree on the total early redemption of its only live
issuance, subject to the applicable legal provisions and having previously
obtained all necessary authorisations. In use of such delegation, having
satisfied all legal and contractual formalities required and having obtained
all relevant authorizations, the company&#8217;s Board of Directors, on the same
date, agreed to carry out the early redemption of the total nominal amount of
the issuance on January 19, 2021. As a result, once all necessary
communications were released, on January 19, 2021 the total early redemption of
the issuance took place.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font 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-GB style="font-size:8.0pt;line-height:115%;">The</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> Extraordinary and Universal General Meeting of </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;line-height:115%;">Caixa Terrassa Societat de Participacions Preferents, S.A.
Unipersonal, at its meeting held on December 11, 2020, decided to delegate on
the company&#8217;s Board of Directors the implementation of all necessary actions in
order to modify its only live issuance so as to include a new clause regarding
the early redemption of the preferred securities. In use of the delegated
authority and having obtained all necessary authorizations, the company&#8217;s Board
of Directors, on the same date, agreed to modify the relevant issuance in order
to include a new clause for the total early redemption of the preferred
securities on January 29, 2021, therefore convening the relevant meeting of
noteholders of the issuance to be held in Bilbao, on January 14, 2021, at first
call, or on January 15, 2021, at second call. Having satisfied all applicable
legal requirements, the noteholders&#8217; meeting was held at first call and passed,
with the necessary majority of votes, among other resolutions, the inclusion of
a new total early redemption clause. As a result, on January 29, 2021 the total
early redemption of the issuance took place.</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="_Toc474142280"></a><a name="_Toc376972376"></a><a name="_Toc376949968"></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%;">22.5. 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_71fab244be2f4da19b6d8027a_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalanceD_22.5_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 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 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=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=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;">2020</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;">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>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Lease liabilities</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;">2,674</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;">3,335</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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:8.0pt;">Creditors for
  other financial liabilities</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,408</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;">2,623</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>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Collection accounts</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;">3,275</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;">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>
 </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:8.0pt;">Creditors for
  other payment obligations</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;">5,000</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;">4,494</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="background:#5AC4C4;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=15% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">13,358</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_afb4d020a1754cf9a3efd170d"></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-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">
<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%;">A breakdown of the maturity of
the lease liabilities, due after December 31, 2020 is provided below:</font></font><a name="XBRL_TS_afb4d020a1754cf9a3efd170d_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;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=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=#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=2% 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;">Up to 1 year</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;">1 to 3 years</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;">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=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;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=49% 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=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=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;">244</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;">430</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;">397</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;">1,602</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;">2,674</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_bb2af94da7084af5b8e5eb1d2"></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;line-height:115%;">23. 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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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 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%;">Technical risk: arises from
deviations in the estimation of the casualty rate of insurances, either in
terms of numbers, the amount of such claims and the timing of its occurrence.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:4.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size: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%;">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, 2020, 2019 and 2018, the balance under this heading amounted to
&#8364;306 million, &#8364;341 million and &#8364;366 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_bb2af94da7084af5b8e5eb1d2_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_23_004_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 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 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;">2020</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>
 </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;">8,731</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>
 </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 </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;">6,268</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;">6,731</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>
 </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;">5,431</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>
 </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;">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=#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>
 </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;">2,463</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;">2,517</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>
 </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;">2,298</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>
 </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;">165</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>
 </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;">672</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>
 </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;">Provisions for
  unexpired risks and other provisions</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;">548</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;">718</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;">668</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=64% style="background:#5AC4C4;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">9,951</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_c2346a80e26a4a23971f54f9b"></a><a name="XBRL_FS_74415eee2087492795d288146"></a><sup><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)</font></font></sup><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;&#160;&#160;&#160;&#160;&#160; Provides
coverage in the event of death or disability.</font></font><a name="XBRL_FS_74415eee2087492795d288146_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_FS_d328b36ab61143ccbb53931cb"></a><sup><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)</font></font></sup><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;&#160;&#160;&#160;&#160;&#160; The
insurance policies purchased by employers (other than BBVA Group) on behalf of
its employees</font></font><a name="XBRL_FS_d328b36ab61143ccbb53931cb_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_c2346a80e26a4a23971f54f9b_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%;"> &nbsp;</font></font></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;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;">2020</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;">1,227</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;">950</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;">1,616</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;">6,158</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;">9,951</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;">2019</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;">1,571</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;">1,197</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;">1,806</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;">6,032</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;">10,606</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>
</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-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">
<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_3c3f29f3e96e45238e821964f"></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 96% 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>

<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, 2020, used in the
calculation of the mathematical reserves for insurance products in Spain and
Mexico, respectively:</font></font><a name="XBRL_TS_3c3f29f3e96e45238e821964f_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=13 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=#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=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 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=4 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=#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 colspan=4 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=#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 width=29% 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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 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=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=#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=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 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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>
 <td colspan=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=#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=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:8.0pt;">Average technical interest type</font></b></font></p>
  </td>
 <td colspan=2 width=14% 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=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:8.0pt;">Average technical interest type</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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=#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=8% 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=8% 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=8% 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=8% 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>
 <td width=8% 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=8% 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>
 <td width=8% 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=7% 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>
 <td width=7% 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=7% 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>
 <td width=8% 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=7% 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:63.6pt;">
  <td width=8% style="border:none;height:63.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Individual life
  insurance </font></font><sup><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">(1)</font></font></sup></p>
  </td>
 <td width=8% style="border:none;height:63.6pt;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;">GRMF 80-2, </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">GKM 80 / GKMF
  95, PASEM,</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">GKMF 80/95,</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">PERFM 2000</font></font></p>
  </td>
 <td width=8% style="border:none;height:63.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><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=8% style="border:none;height:63.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.25% -2.87%</font></font></p>
  </td>
 <td width=8% style="border:none;height:63.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2.5%</font></font></p>
  </td>
 <td width=8% style="border:none;height:63.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">GRMF 80-2, GKMF 80/95. PASEM, PERMF 2000</font></font></p>
  </td>
 <td width=8% style="border:none;height:63.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><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=8% style="border:none;height:63.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.25% -2.91%</font></font></p>
  </td>
 <td width=7% style="border:none;height:63.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2.50%</font></font></p>
  </td>
 <td valign=bottom width=7% style="border:none;height:63.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">GRMF 80-2, GKM 80 / GKMF 95</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">PERMF 2000</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">PASEM</font></font></p>
  </td>
 <td width=7% style="border:none;height:63.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><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=8% style="border:none;height:63.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.26%-3.27%</font></font></p>
  </td>
 <td width=7% style="border:none;height:63.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2.50%</font></font></p>
  </td>
 </tr>
<tr style="height:52.5pt;">
  <td width=8% style="height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</font></font><sup><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.5pt;">(2)</font></font></sup></p>
  </td>
 <td width=8% style="height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">PERFM 2000</font></font></p>
  </td>
 <td width=8% style="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=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=8% style="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=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=8% style="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=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 width=8% style="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=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=8% style="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=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=8% style="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=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=7% style="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=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 width=7% style="height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><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=7% style="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=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=8% style="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=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=7% style="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=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:21.3pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_TS_a4f9a86a114642a785c7a207c"></a><a name="XBRL_FS_ee0638fdb0704cef920e310c2"></a><sup><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)</font></font></sup><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;&#160;&#160;&#160;&#160;&#160; Provides
coverage in the case of one or more of the following events: death and
disability.</font></font><a name="XBRL_FS_ee0638fdb0704cef920e310c2_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_FS_4526c4df5b054f789c69e65fa"></a><sup><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) </font></font></sup><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;&#160;&#160;&#160;&#160;&#160;Insurance
policies purchased by companies (other than BBVA Group entities) on behalf of
their employees.</font></font><a name="XBRL_FS_4526c4df5b054f789c69e65fa_bclEnd"></a><a name="XBRL_TS_a4f9a86a114642a785c7a207c_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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="_Toc376949977"></a><a name="_Toc347755861"></a><a name="_Toc331260323"></a><a name="_Toc299032882"></a><a name="_Toc299031543"></a><a name="_Toc299029461"></a><a name="_Toc298431725"></a><a name="XBRL_TS_78c3b3d5942b456fada285b46"></a><a name="_Toc495478138"></a><a name="_Toc481589086"></a><a name="_Toc474142282"></a><a name="_Toc457490031"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">24. 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_78c3b3d5942b456fada285b46_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalanceD_23_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:13.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;height:13.0pt;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.
  Breakdown by concepts (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=53% 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=#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: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=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=#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 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=#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=#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>
 </tr>
<tr style="height:13.0pt;">
  <td width=53% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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 width=12% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=53% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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 width=12% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;">
  <td width=53% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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 width=12% style="height:13.0pt;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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">612 </font></font></p>
  </td>
 <td nowrap width=12% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=53% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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 width=12% style="height:13.0pt;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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">728 </font></font></p>
  </td>
 <td nowrap width=12% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=53% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 width=12% style="height:13.0pt;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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td width=53% style="background:#5AC4C4;height:13.0pt;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;height:13.0pt;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;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">6,141 </font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_7ee22d5862ed4754b777a427e"></a><a name="XBRL_FS_3a6bb453a8804acbb5aa63bb5"></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%;">(*)
Individually insignificant provisions or contingencies, for various concepts in
different geographies.</font></font><a name="XBRL_FS_3a6bb453a8804acbb5aa63bb5_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-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">
<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, 2020, 2019 and 2018 is as follows:</font></font><a name="XBRL_TS_7ee22d5862ed4754b777a427e_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;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;">2020</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=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;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=53% style="background:#5AC4C4;border:none;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<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;">Add</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 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;">298</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">44</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">49</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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:8.0pt;">205</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">191</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=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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 <sup>(2)</sup></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;">(71)</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;">(29)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;">
  <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;">(654)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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;">Employer
  contributions</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;">(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;">(65)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=53% style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">4,272</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><a name="XBRL_TS_d38f91ad7ce246beadcef9f02"></a><a name="XBRL_FS_5c2cab368b9846aa9b261ee1a"></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)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">Correspond to actuarial losses (gains) arising from certain
post-employment defined-benefit commitments for pensions recognized in &#8220;Equity&#8221;
(see Note 2.2.12).</font></font><a name="XBRL_FS_5c2cab368b9846aa9b261ee1a_bclEnd"></a></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:-18.0pt;"><a name="XBRL_FS_9f71907f995e4f75b453dae2d"></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)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">It includes the amount of the sale
of BBVA&#180;s U.S. subsidiary (see Notes 1.3, 3 and 21).</font></font><a name="XBRL_FS_9f71907f995e4f75b453dae2d_bclEnd"></a><a name="XBRL_TS_d38f91ad7ce246beadcef9f02_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">&nbsp;</font></font></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;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;">2020</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>
 </tr>
<tr style="height:13.5pt;">
  <td width=58% style="background:#5AC4C4;border:none;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<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;">Additions</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;">555</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;">396</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;">455</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;">(215)</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>
 </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;">Amount used and
  other variations</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>
 <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;">(410)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=58% style="background:#5AC4C4;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,091</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



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

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_7e4495560d1b4ffd9eb44f35a"></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:.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%;">The financial sector
faces an environment of increased regulatory pressure and litigation. In this
environment, the various Group entities are often sued on lawsuits and are
therefore involved in individual or collective legal proceedings and litigation
arising from their activity and operations, including proceedings arising from
their lending activity, from their labor relations and from other commercial,
regulatory or tax issues, as well as in arbitration. </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%;">&nbsp;</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%;">On the basis of the
information available, the Group considers that, as of December 31, 2020, the
provisions made in relation to judicial proceedings and arbitration, where so
required, are adequate and reasonably cover the liabilities that might arise,
if any, from such proceedings. Furthermore, on the basis of the information
available and with the exceptions indicated in Note 7.1 &quot;Risk
factors&quot;, BBVA considers that the liabilities that may arise from such
proceedings will not have, on a case-by-case basis, a significant adverse
effect on the Group's business, financial situation or results of operations.</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=#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%;">IRPH index </font></b></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%;">In relation to consumer
mortgage loan contracts linked to the interest rate index known as IRPH
(average rate for mortgage loans over three years for the acquisition of free
housing), the Spanish Supreme Court issued on 14 December 2017 its judgment
669/2017 confirming that it was not possible to determine the lack of
transparency of the interest rate of the loan merely by reference to one or
other of the official indexes nor, therefore, was it abuse according to
Directive 93/13. In a separate legal proceeding, albeit concerning the same
clause, the matter was referred to the Court of Justice of the European Union
(the EU Court of Justice), raising a preliminary question in which the
application of the above referred IRPH index and the decision of the Supreme
Court on the matter was questioned again. On March 3, 2020, the EU Court of
Justice resolved the referred question for a preliminary ruling.</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%;">&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-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">
<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%;">In
that resolution, the EU Court of Justice concluded that the fact that the main
elements relating to the calculation of the saving banks IRPH index used by the
bank to which the question referred (Bankia, S.A.) were provided in the Bank of
Spain Regulation (Circular 8/1990), published in the Spanish Official Gazette,
which allowed consumers to understand the calculation of such index. In
addition, the EU Court of Justice indicated that the national court shall
determine whether the bank that is party to this proceeding complied with the
applicable information obligations under national legislation. In the event
that the entity had not complied with the applicable transparency regulations,
the EU Court of Justice decision does not declare the contract null and void
but provides that the national court could replace the IRPH index applied in
the case under trial for a substitute index. The resolution sets forth that, in
the absence of an agreement to the contrary of the parties to the contract, the
referred substitute index could be the IRPH index for credit entities in Spain
(as established in the fifteenth additional provision of Law 14/2013, of September
27, 2013). </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%;">&nbsp;</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%;">On November 13, 2020,
the Supreme Court has issued new judgments on which it has again analyzed the
legality of the above referred clause after the EU Court of Justice ruling
which indicated that it was up to the national judge to rule on its transparency
and possible abuse. In the particular cases analyzed, the Supreme Court has
ruled that, even if the entity had not adequately complied with some regulatory
requirement of transparency, such as reporting the evolution of the index in
the past, this would not mean that the clause was abusive. In short, it
considers that the control rules are different from transparency and abuse, so
that if the clause is not abusive, the possible breach of any obligation of
transparency cannot have legal consequences. Following these rulings, the
Supreme Court is rejecting the appeals on the grounds of the existence of case
law on the matter and lack of interest in the case. Therefore, BBVA considers
that the ruling of the EU Court of Justice and these recent rulings of the
Supreme Court should not have significant effects on the Group's business,
financial situation or results of operations.</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=#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%;">Revolving credit cards </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%;">There are also claims before the
Spanish courts challenging the application of certain interest rates and other
mandatory regulations to certain revolving credit card contracts. On March 4,
2020, the Supreme Court issued a ruling (number 149/2020) confirming the
nullity of a revolving credit card agreement entered into by another entity
(Wizink Bank) on the grounds that the interest applied to the card was
usurious. In that ruling, the Supreme Court recognized that the reference to
the &quot;normal interest on money&quot; to be used for this product must be
the average interest applicable to credit transactions by means of credit and
revolving cards published in the Bank of Spain's statistics, which is slightly
higher than 20% annually. The Supreme Court also considered usurious a rate of
26.82% annually, when compared to such average rate. The Supreme Court
concluded that for an interest rate to be usurious, it must be &quot;manifestly
disproportionate to the circumstances of the case&quot;, and therefore the
ruling limits its effects to the case under analysis, and the marketing by
credit entities of this product must be analyzed on a case-by-case basis. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 considers that this ruling of
the Supreme Court should not have a significant effect on the Group's business,
financial situation or results of operations.</font></font><a name="XBRL_TS_7e4495560d1b4ffd9eb44f35a_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_4663e974e09742a28f7314d08"></a><a name="_Toc376949978"></a><a name="_Toc347755862"></a><a name="_Toc331260324_0"></a><a name="_Toc299032883_0"></a><a name="_Toc299031544_0"></a><a name="_Toc299029462_0"></a><a name="_Toc298431726_0"></a><a name="_Toc495478139"></a><a name="_Toc481589087"></a><a name="_Toc474142283"></a><a name="_Toc457490032"></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">
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">25. 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:10.0pt;text-align:justify;"><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 2.2.11, 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:10.0pt;text-align:justify;"><font 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 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: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 net defined benefit liability recorded on the
balance sheet as of December 31, 2020, 2019 and 2018 is provided below:</font></font><a name="XBRL_TS_4663e974e09742a28f7314d08_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=5 nowrap width=100% style="background:#E9E9E9;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=63% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=8% 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;">2020</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=63% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Pension commitments</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=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;">4,539</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;">5,050</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;">4,678</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Early retirement
  commitments</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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Medical benefits
  commitments</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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,562</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;">
  <td nowrap width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other long term
  employee benefits</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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=63% style="background:#5AC4C4;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=12% style="background:#5AC4C4;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=8% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">7,398</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Pension plan assets</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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,608</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Medical benefit plan
  assets</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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=63% style="background:#5AC4C4;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=12% style="background:#5AC4C4;height:15.75pt;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=8% style="background:#5AC4C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,092</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="background:#5AC4C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=63% style="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=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=#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=8% 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=#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=8% 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=#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=9% 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=#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=63% style="background:#5AC4C4;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=12% style="background:#5AC4C4;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=8% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">4,305</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:13.5pt;">
  <td width=63% style="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 (2)</font></i></font></p>
  </td>
 <td width=12% style="height:13.5pt;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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:8.0pt;">(16)</font></i></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=#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=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=#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>
 </tr>
<tr style="height:21.0pt;">
  <td width=63% style="height:21.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Of which:
  +Net liability on the consolidated balance sheet for provisions for pensions
  and similar obligations (3)</font></i></font></p>
  </td>
 <td width=12% style="height:21.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">24</font></i></font></p>
  </td>
 <td 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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:8.0pt;">4,272</font></i></font></p>
  </td>
 <td 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=#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=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=#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>
 </tr>
<tr style="height:14.25pt;">
  <td width=63% 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 for other long term employee
  benefits (4)</font></i></font></p>
  </td>
 <td width=12% 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 style="font-size:8.0pt;">24</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:8.0pt;">49</font></i></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=#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=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=#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>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_268164f9a85d478ea1865c361"></a><a name="XBRL_FS_4919b33a22244b06aeaff7056"></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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
In Turkey, the foundation responsible for managing the benefit commitments
holds an additional asset of &#8364;125 million as of December 31, 2020 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_4919b33a22244b06aeaff7056_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_e13b9792401d4c519770a40ec"></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;&#160;&#160;&#160;&#160;&#160;&#160;&#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_e13b9792401d4c519770a40ec_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_9223a7a674e84056b435b0c4b"></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%;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Recorded under the heading &#8220;Provisions - Provisions for pensions and similar
obligations&#8221; of the consolidated balance sheet.</font></font><a name="XBRL_FS_9223a7a674e84056b435b0c4b_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_fd89173d4f394332a8b2b5e39"></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%;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Recorded under the heading &#8220;Provisions &#8211; Other long-term employee benefits&#8221; of
the consolidated balance sheet.</font></font><a name="XBRL_FS_fd89173d4f394332a8b2b5e39_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-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">
<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 impact
relating to benefit commitments charged to consolidated income statement for
the years 2020, 2019 and 2018 is as follows:</font></font><a name="XBRL_TS_268164f9a85d478ea1865c361_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;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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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;">2020</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>
 </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 other
  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=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=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;">44</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;">63</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;">77</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=right style="border:none;margin:0cm;margin-bottom:.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;">&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;">265</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;">293</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;">282</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;">Interest income</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: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;">(220)</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;">(230)</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;">(206)</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=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=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;">121</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;">143</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;">130</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">44.1</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;">72</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;">95</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;">72</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;">Defined benefit plan
  expense</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;">44.1</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;">49</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;">49</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;">58</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 lang=EN-US style="font-size:8.0pt;">Provisions or
  (reversal) of provisions</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=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;">210</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;">213</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>
 </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=right style="border:none;margin:0cm;margin-bottom:.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;">&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;">224</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>
 </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=right style="border:none;margin:0cm;margin-bottom:.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;">&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;">(8)</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>
 </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=right style="border:none;margin:0cm;margin-bottom:.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;">&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;">(11)</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>
 </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;">Other provision
  expense</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: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;">4</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;">(1)</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;">28</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=64% style="background:#5AC4C4;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;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=9% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 nowrap width=9% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_d577c50dde8e4884a2a4edd50"></a><a name="XBRL_FS_4a1b352f592e49aba044084fc"></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;&#160;&#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_4a1b352f592e49aba044084fc_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;"><font 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 </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%;">2020, 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%;">are as follows:</font></font><a name="XBRL_TS_d577c50dde8e4884a2a4edd50_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;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;">2020</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;">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>
 </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;">161</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;">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>
 </tr>
<tr style="height:12.75pt;">
  <td width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Post-employment
  medical benefits</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;">30</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;">74</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;">(47)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=57% style="background:#5AC4C4;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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_05a0cd3b92944434878ca993a"></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 2020, the
aggregate impact of this heading amounted to &#8364;191 million driven by, first of
all, the variation in interest rates, &#8364;91 million losses on commitments in
Mexico and &#8364;68 million in Spain, and secondly due to updating of the mortality
tables in Spain (&#8364;49 million losses). These amounts are partially offset by the
effect in other geographies and experience. In 2019, this heading amounted to
&#8364;329 million mainly due to the variation in two geographies. Firstly, as a
consequence of the &#8364;231 million increase in actuarial losses on commitments in
Spain, due to the variation in discount rates from 1.75% to 1%. Secondly,
driven by the &#8364;83 million increase in actuarial losses on commitments in
Mexico, due to the decrease in discount rates from 10.45% to 9.04%.
</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-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">
<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=#004480 face=Arial,sans-serif style="border:none;"><b><font color=#004480 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">25.1. Defined benefit plans</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%;">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 </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%;">2020, 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%;">is presented
below:</font></font><a name="XBRL_TS_05a0cd3b92944434878ca993a_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;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=20% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><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=right style="border:none;margin:0cm;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 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;">2020</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;">2019</font></b></font></p>
  </td>
 <td width=10% 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 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;">2018</font></b></font></p>
  </td>
 <td width=10% 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=#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=20% 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=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=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:7.0pt;">Net liability (asset)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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:7.0pt;">Net liability (asset)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="background:#5AC4C4;border:none;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">4,622</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=8% style="background:#5AC4C4;border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=8% style="background:#5AC4C4;border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=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;">Current service cost</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">53</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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;">261</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">219</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">230</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:7.0pt;">60</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">279</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">74</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">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;">3</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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;">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:7.0pt;">(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: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;">65</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:7.0pt;">(65)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">103</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:7.0pt;">(103)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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;">219</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">219</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">-</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: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;">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;">-</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:7.0pt;">109</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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;">364</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">783</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">329</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% 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=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;">176</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">454</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:7.0pt;">(454)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">(286)</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:7.0pt;">286</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% 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;">57</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">57</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:9.0pt;">
  <td width=20% 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;">276</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">276</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% 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 gains 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;">30</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">30</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">-</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:7.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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;">(839)</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(185)</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(654)</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">(718)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">(779)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=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:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.0pt;">
  <td width=20% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(371)</font></font></p>
  </td>
 <td nowrap width=9% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(327)</font></font></p>
  </td>
 <td nowrap width=9% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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)</font></font></p>
  </td>
 <td nowrap width=9% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:7.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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;">(459)</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(409)</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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)</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">(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:7.0pt;">(31)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(22)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size: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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=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:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Other effects</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(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;">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;">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:7.0pt;">6</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: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;">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;">6</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:7.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="background:#5AC4C4;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">7,348</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">3,092</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">4,256</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=8% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=8% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=8% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% 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: Spain</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;">4,288</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;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;">249</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;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;">4,039</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;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=8% style="height:9.0pt;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;">266</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">4,326</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;">4,807</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;">260</font></i></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=#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>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% 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;">2,219</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;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;">2,122</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;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;">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=#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=8% style="height:9.0pt;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;">2,124</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">107</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;">1,615</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;">1,587</font></i></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=#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>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% 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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;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=8% style="height:9.0pt;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;">323</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">52</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;">326</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;">287</font></i></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=#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>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% 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;">367</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;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;">282</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;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;">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=#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=8% style="height:9.0pt;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;">359</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">86</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;">422</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;">339</font></i></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=#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>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_99a376774f4b4f26a3d89a0b4"></a><a name="XBRL_FS_1a41f2ca4f08429abc3385a9d"></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;&#160;&#160;&#160;&#160;
The amount in 2020 in mainly due to the stake in BBVA USA (see Note 3).</font></font><a name="XBRL_FS_1a41f2ca4f08429abc3385a9d_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_4f20408795c34134beb09cfc3"></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;&#160;&#160;&#160;&#160;&#160;
Including gains and losses arising from settlements.</font></font><a name="XBRL_FS_4f20408795c34134beb09cfc3_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_cbc3d5b341b1473a8a929a8a1"></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;&#160;&#160;&#160;&#160;&#160;&#160;
Excluding interest, which is recorded under &quot;Interest income or
expense&quot;.</font></font><a name="XBRL_FS_cbc3d5b341b1473a8a929a8a1_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;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, 2020 includes &#8364;356 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;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 most significant commitments are those in Spain and Mexico
and, to a lesser extent, in 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;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%;">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;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 out the
key actuarial assumptions used in the valuation of these commitments as of
December 31, </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%;">2020, 2019 and 2018:</font></font><a name="XBRL_TS_99a376774f4b4f26a3d89a0b4_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=12 nowrap width=100% style="background:#E9E9E9;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 style="font-size:6.0pt;">Actuarial
  assumptions (%)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2020</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=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;">2018</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;">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=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;">Mexico</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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=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;">Mexico</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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;">0.53%</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;">8.37%</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;">13.00%</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=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;">10.45%</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;">4.23%</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;">16.30%</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;">4.00%</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;">11.20%</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=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;">14.00%</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;">1.94%</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;">9.70%</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;">-</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=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;">2.51%</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;">12.50%</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;">13.90%</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=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;">16.70%</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 valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PER 2020</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">EMSSA09</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CSO2001</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PERM/F 2000P</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">EMSSA09</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">RP 2014</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CSO2001</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PERM/F 2000P</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">EMSSA09</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">RP 2014</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CSO2001</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-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">
<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_f4b96ee7df8041bea0629989d"></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 Spain,
the discount rate shown as of December, 31, 2020, corresponds to the weighted
average rate, the actual discount rates used are 0% and 0.75% depending on the
type of commitment.</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;line-height:115%;">In Mexico, the discount rate shown as of December 31, 2020,
corresponds to the weighted average rate, with the discount rates between 6.84%
and 8.76% depending on the plan.</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;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 and Mexican peso for Mexico, and
government bonds denominated in Turkish Lira for Turkey.</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;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;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%;">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;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%;">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_f4b96ee7df8041bea0629989d_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=8 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:8.0pt;">Sensitivity
  analysis (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=30% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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;">2020</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:8.0pt;">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:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=30% 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=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:8.0pt;">Increase</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:8.0pt;">Decrease</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:8.0pt;">Increase</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:8.0pt;">Decrease</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:8.0pt;">Increase</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:8.0pt;">Decrease</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td 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 style="font-size:8.0pt;">Discount rate</font></font></p>
  </td>
 <td nowrap width=10% 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:8.0pt;">50</font></font></p>
  </td>
 <td nowrap width=10% 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:8.0pt;">(354)</font></font></p>
  </td>
 <td nowrap width=10% 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:8.0pt;">390</font></font></p>
  </td>
 <td nowrap width=10% 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:8.0pt;">(367)</font></font></p>
  </td>
 <td nowrap width=10% 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:8.0pt;">405</font></font></p>
  </td>
 <td nowrap width=10% 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:8.0pt;">(298)</font></font></p>
  </td>
 <td nowrap width=10% 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:8.0pt;">332</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=30% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Rate of salary
  increase</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">50</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=30% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Rate of pension
  increase</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">50</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(27)</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">27</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(26)</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(18)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=30% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Medical cost trend
  rate</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">50</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">145</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(129)</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">169</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(133)</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">115</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(91)</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td 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:8.0pt;">Change in
  obligation from each additional year of longevity</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">211</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">137</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">108</font></font></p>
  </td>
 <td nowrap width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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_6489c67e72a144de9b487a3f4"></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;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 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, </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%;">2020, 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%;">, the actuarial
liabilities for the outstanding awards amounted to &#8364;50, &#8364;61 million and &#8364;62
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: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%;">25.1.1. Post-employment commitments and similar
obligations</font></b></font></h3>

<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%;">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;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 addition, during the year 2020, 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 781 employees (616 and 489 during years 2019 and 2018,
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, </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%;">2020, 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%;">, the value of these commitments
amounted to &#8364;1,247, &#8364;1,486 million and &#8364;1,793 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=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<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 change
in the benefit plan obligations and plan assets during the year ended December
31, 2020 was as follows:</font></font><a name="XBRL_TS_6489c67e72a144de9b487a3f4_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:12.95pt;">
  <td colspan=6 width=100% style="background:#E9E9E9;height:12.95pt;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;">Post-employment
  commitments 2020 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=42% 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=#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=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Spain</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Mexico</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Rest of the world</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Defined benefit
  obligation</font></b></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height: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:7.0pt;">&nbsp;</font></b></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height: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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:9.75pt;">
  <td width=42% style="background:#5AC4C4;border:none;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:7.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">4,592</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">664</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">375</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">444</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">460</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Current service cost</font></font></p>
  </td>
 <td 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:7.0pt;">5</font></font></p>
  </td>
 <td 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:7.0pt;">5</font></font></p>
  </td>
 <td 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:7.0pt;">1</font></font></p>
  </td>
 <td 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;">18</font></font></p>
  </td>
 <td 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;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Interest income or
  expense</font></font></p>
  </td>
 <td 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:7.0pt;">30</font></font></p>
  </td>
 <td 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:7.0pt;">50</font></font></p>
  </td>
 <td 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:7.0pt;">12</font></font></p>
  </td>
 <td 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;">45</font></font></p>
  </td>
 <td 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;">7</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Contributions by plan
  participants</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">4</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Employer
  contributions</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Past service costs <sup>(1)</sup></font></font></p>
  </td>
 <td 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:7.0pt;">224</font></font></p>
  </td>
 <td 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:7.0pt;">(1)</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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</font></font></p>
  </td>
 <td 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;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Remeasurements:</font></font></p>
  </td>
 <td 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:7.0pt;">136</font></font></p>
  </td>
 <td 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:7.0pt;">93</font></font></p>
  </td>
 <td 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:7.0pt;">31</font></font></p>
  </td>
 <td 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;">(4)</font></font></p>
  </td>
 <td 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;">12</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;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:7.0pt;">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:7.0pt;">(2)</font></font></sup></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;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:7.0pt;">From changes
  in demographic assumptions</font></font></p>
  </td>
 <td 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:7.0pt;">60</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">(3)</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;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:7.0pt;">From changes
  in financial assumptions</font></font></p>
  </td>
 <td 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:7.0pt;">79</font></font></p>
  </td>
 <td 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:7.0pt;">(19)</font></font></p>
  </td>
 <td 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:7.0pt;">34</font></font></p>
  </td>
 <td 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;">54</font></font></p>
  </td>
 <td 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;">17</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;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:7.0pt;">Other
  actuarial gains and losses</font></font></p>
  </td>
 <td 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:7.0pt;">(3)</font></font></p>
  </td>
 <td 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:7.0pt;">112</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">(59)</font></font></p>
  </td>
 <td 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;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Benefit payments</font></font></p>
  </td>
 <td 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:7.0pt;">(703)</font></font></p>
  </td>
 <td 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:7.0pt;">(58)</font></font></p>
  </td>
 <td 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:7.0pt;">(15)</font></font></p>
  </td>
 <td 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 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;">(12)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Settlement payments</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Business combinations
  and disposals</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">(371)</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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:7.0pt;">Effect on
  changes in foreign exchange rates</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">(87)</font></font></p>
  </td>
 <td 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:7.0pt;">(32)</font></font></p>
  </td>
 <td 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;">(126)</font></font></p>
  </td>
 <td 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;">(9)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Conversions to
  defined contributions</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Other effects</font></font></p>
  </td>
 <td 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:7.0pt;">3</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">(1)</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="background:#5AC4C4;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:7.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">4,288</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">666</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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 width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">367</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">465</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Of which:
  Vested benefit obligation relating to current employees</font></i></font></p>
  </td>
 <td 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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:7.0pt;">4,198</font></i></font></p>
  </td>
 <td width=12% style="background:#A7A7A7;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="background:#A7A7A7;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="background:#A7A7A7;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="background:#A7A7A7;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Of which:
  Vested benefit obligation relating to retired employees</font></i></font></p>
  </td>
 <td width=12% style="height:9.75pt;padding:0cm 5.75pt 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:7.0pt;">90</font></i></font></p>
  </td>
 <td width=12% style="background:#A7A7A7;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="background:#A7A7A7;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="background:#A7A7A7;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="background:#A7A7A7;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:4.5pt;">
  <td width=42% style="height:4.5pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=12% style="height:4.5pt;padding:0cm 9.0pt 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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=12% style="height:4.5pt;padding:0cm 9.0pt 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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=12% style="height:4.5pt;padding:0cm 9.0pt 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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=11% style="height:4.5pt;padding:0cm 9.0pt 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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=11% style="height:4.5pt;padding:0cm 9.0pt 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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Plan assets</font></b></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height: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:7.0pt;">&nbsp;</font></b></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height: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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:9.75pt;">
  <td width=42% style="background:#5AC4C4;border:none;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:7.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">266</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">592</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">323</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">359</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">422</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Current service cost</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Interest income or
  expense</font></font></p>
  </td>
 <td 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:7.0pt;">2</font></font></p>
  </td>
 <td 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:7.0pt;">44</font></font></p>
  </td>
 <td 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:7.0pt;">10</font></font></p>
  </td>
 <td 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;">37</font></font></p>
  </td>
 <td 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;">6</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Contributions by plan
  participants</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">4</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Employer
  contributions</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">86</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">14</font></font></p>
  </td>
 <td 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;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Past service costs <sup>(1)</sup></font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Remeasurements:</font></font></p>
  </td>
 <td 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:7.0pt;">41</font></font></p>
  </td>
 <td 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:7.0pt;">31</font></font></p>
  </td>
 <td 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:7.0pt;">35</font></font></p>
  </td>
 <td 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;">(23)</font></font></p>
  </td>
 <td 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;">26</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;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:7.0pt;">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:7.0pt;">(2)</font></font></sup></p>
  </td>
 <td 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:7.0pt;">41</font></font></p>
  </td>
 <td 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:7.0pt;">31</font></font></p>
  </td>
 <td 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:7.0pt;">35</font></font></p>
  </td>
 <td 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;">(23)</font></font></p>
  </td>
 <td 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;">26</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;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:7.0pt;">From changes
  in demographic assumptions</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;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:7.0pt;">From changes
  in financial assumptions</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;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:7.0pt;">Other
  actuarial gains and losses</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Benefit payments</font></font></p>
  </td>
 <td 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:7.0pt;">(60)</font></font></p>
  </td>
 <td 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:7.0pt;">(57)</font></font></p>
  </td>
 <td 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:7.0pt;">(13)</font></font></p>
  </td>
 <td 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;">(8)</font></font></p>
  </td>
 <td 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;">(11)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Settlement payments</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Business combinations
  and disposals</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">19</font></font></p>
  </td>
 <td 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:7.0pt;">(327)</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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:7.0pt;">Effect on
  changes in foreign exchange rates</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">(77)</font></font></p>
  </td>
 <td 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:7.0pt;">(27)</font></font></p>
  </td>
 <td 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;">(100)</font></font></p>
  </td>
 <td 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;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Conversions to
  defined contributions</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Other effects</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">(1)</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="background:#5AC4C4;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:7.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">249</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">638</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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 width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">282</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">439</font></b></font></p>
  </td>
 </tr>
<tr style="height:4.5pt;">
  <td width=42% style="height:4.5pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=12% style="height:4.5pt;padding:0cm 9.0pt 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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=12% style="height:4.5pt;padding:0cm 9.0pt 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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=12% style="height:4.5pt;padding:0cm 9.0pt 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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=11% style="height:4.5pt;padding:0cm 9.0pt 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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=11% style="height:4.5pt;padding:0cm 9.0pt 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:7.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Net liability
  (asset)</font></b></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height: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:7.0pt;">&nbsp;</font></b></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height: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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:9.75pt;">
  <td width=42% style="background:#5AC4C4;border:none;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:7.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">4,326</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">72</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">52</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">86</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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=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>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Current service cost</font></font></p>
  </td>
 <td 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:7.0pt;">5</font></font></p>
  </td>
 <td 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:7.0pt;">5</font></font></p>
  </td>
 <td 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:7.0pt;">1</font></font></p>
  </td>
 <td 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;">18</font></font></p>
  </td>
 <td 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;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Interest income or
  expense</font></font></p>
  </td>
 <td 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:7.0pt;">28</font></font></p>
  </td>
 <td 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:7.0pt;">6</font></font></p>
  </td>
 <td 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:7.0pt;">2</font></font></p>
  </td>
 <td 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;">8</font></font></p>
  </td>
 <td 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;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Contributions by plan
  participants</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Employer contributions</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">(86)</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">(14)</font></font></p>
  </td>
 <td 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;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Past service costs <sup>(1)</sup></font></font></p>
  </td>
 <td 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:7.0pt;">224</font></font></p>
  </td>
 <td 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:7.0pt;">(1)</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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</font></font></p>
  </td>
 <td 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;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Remeasurements:</font></font></p>
  </td>
 <td 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:7.0pt;">95</font></font></p>
  </td>
 <td 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:7.0pt;">62</font></font></p>
  </td>
 <td 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:7.0pt;">(4)</font></font></p>
  </td>
 <td 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;">18</font></font></p>
  </td>
 <td 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;">(14)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;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:7.0pt;">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:7.0pt;">(2)</font></font></sup></p>
  </td>
 <td 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:7.0pt;">(41)</font></font></p>
  </td>
 <td 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:7.0pt;">(31)</font></font></p>
  </td>
 <td 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:7.0pt;">(35)</font></font></p>
  </td>
 <td 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;">23</font></font></p>
  </td>
 <td 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;">(26)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;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:7.0pt;">From changes
  in demographic assumptions</font></font></p>
  </td>
 <td 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:7.0pt;">60</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">(3)</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;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:7.0pt;">From changes
  in financial assumptions</font></font></p>
  </td>
 <td 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:7.0pt;">79</font></font></p>
  </td>
 <td 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:7.0pt;">(19)</font></font></p>
  </td>
 <td 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:7.0pt;">34</font></font></p>
  </td>
 <td 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;">54</font></font></p>
  </td>
 <td 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;">17</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="height:9.75pt;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:7.0pt;">Other
  actuarial gains and losses</font></font></p>
  </td>
 <td 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:7.0pt;">(3)</font></font></p>
  </td>
 <td 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:7.0pt;">112</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">(59)</font></font></p>
  </td>
 <td 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;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Benefit payments</font></font></p>
  </td>
 <td 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:7.0pt;">(643)</font></font></p>
  </td>
 <td 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:7.0pt;">(1)</font></font></p>
  </td>
 <td 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:7.0pt;">(2)</font></font></p>
  </td>
 <td 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;">(6)</font></font></p>
  </td>
 <td 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;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Settlement payments</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Business combinations
  and disposals</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">(19)</font></font></p>
  </td>
 <td 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:7.0pt;">(44)</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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:7.0pt;">Effect on
  changes in foreign exchange rates</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">(10)</font></font></p>
  </td>
 <td 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:7.0pt;">(5)</font></font></p>
  </td>
 <td 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;">(26)</font></font></p>
  </td>
 <td 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;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Conversions to
  defined contributions</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% 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;">Other effects</font></font></p>
  </td>
 <td 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:7.0pt;">3</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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:7.0pt;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 <td 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=42% style="background:#5AC4C4;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:7.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">4,039</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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 width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">85</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">27</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_18005f64f8dd448298d9ea97c"></a><a name="XBRL_FS_0412421f48e64d90823f62969"></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;&#160;&#160;&#160;&#160;&#160;
Including gains and losses arising from settlements.</font></font><a name="XBRL_FS_0412421f48e64d90823f62969_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_4c36658e202b4c969b60dcf83"></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;&#160;&#160;&#160;&#160;&#160;&#160;
Excluding interest, which is recorded under &quot;Interest income or
expense&quot;.</font></font><a name="XBRL_FS_4c36658e202b4c969b60dcf83_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-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">
<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 change in
net liabilities (assets) during the years ended 2019 and 2018 was as follows:</font></font><a name="XBRL_TS_18005f64f8dd448298d9ea97c_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;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="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;">2019: 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;">2018: 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;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<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;">Current service cost</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>
 <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>
 <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;">20</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;">4</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;">-</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;">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;">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;">42</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;">-</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;">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;">-</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>
 </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;">-</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>
 </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;">(47)</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;">(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;">(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>
 </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 </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 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;">190</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;">15</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;">3</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;">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>
 </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;">231</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;">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;">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;">(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;">(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>
 </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 </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 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;">(67)</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;">(90)</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;">(28)</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;">5</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;">(50)</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>
 </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;">-</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;">(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;">-</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>
 </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;">239</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;">87</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;">42</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;">(41)</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;">52</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>
 </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 gains 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;">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;">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;">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;">51</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;">(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>
 </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;">(702)</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>
 <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>
 </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;">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;">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;">-</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;">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;">-</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;">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;">-</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;">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;">(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>
 </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;">-</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;">Other effects</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;">-</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;">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;">-</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>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% style="background:#5AC4C4;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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">4,326</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=7% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=7% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">86</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">38</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_b618c7fe3e214c7fadcc1b39a"></a><a name="XBRL_FS_540d973c4d7745dc83f0c0751"></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;&#160;&#160;&#160;&#160;&#160;
Includes gains and losses from settlements.</font></font><a name="XBRL_FS_540d973c4d7745dc83f0c0751_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_55e0b41c79d248b7a98f16ffc"></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;&#160;&#160;&#160;&#160;&#160;&#160;
Excludes interest which is reflected in the line item &#8220;Interest income and
expense&#8221;.</font></font><a name="XBRL_FS_55e0b41c79d248b7a98f16ffc_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;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;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 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, 2020 the value of these separate assets was &#8364;2,572 million,
(&#8364;2,620 and &#8364;2,543 million as of December 31, 2019 and 2018, respectively)
representing direct rights of the insured employees held in the consolidated
balance sheet, hence these benefits are effectively fully funded.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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%;">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, </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%;">2020, 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%;">, the value of the aforementioned insurance policies (&#8364;249, &#8364;266
and &#8364;260 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;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%;">Pension 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 assist 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;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 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;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 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;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 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;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 foundation that maintains the assets and liabilities relating
to employees of Garanti BBVA in Turkey, as per the local regulatory
requirements, has registered an obligation amounting to &#8364;250 million as of
December 31, 2020 pending future transfer to the Social Security system.</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-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">
<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%;">Furthermore, Garanti BBVA 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: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%;">25.1.2. Medical benefit commitments</font></b></font></h3>

<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 change in
defined benefit obligations and plan assets during the years 2020, 2019 and
2018 was as follows:</font></font><a name="XBRL_TS_b618c7fe3e214c7fadcc1b39a_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;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=30% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size: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;">2020</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=22% 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>
 </tr>
<tr style="height:42.75pt;">
  <td nowrap width=30% 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=7% 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=7% 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=30% style="background:#5AC4C4;border:none;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="background:#5AC4C4;border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="background:#5AC4C4;border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
<tr style="height:9.0pt;">
  <td nowrap 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:7.0pt;">Current service cost</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=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;">27</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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:9.0pt;">
  <td nowrap 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: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;">117</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">120</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">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=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;">116</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;">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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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: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=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;">-</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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=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: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;">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:7.0pt;">(22)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=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;">-</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;">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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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: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;">(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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=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;">(42)</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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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: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;">95</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">(210)</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;">(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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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: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;">66</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=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;">-</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;">(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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=30% 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=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;">-</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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=30% 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;">110</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">110</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=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;">(182)</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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=30% 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;">(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: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;">(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: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=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;">(28)</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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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: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;">(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:7.0pt;">(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: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;">(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=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;">(34)</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;">(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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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: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=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;">-</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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=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: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;">(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:7.0pt;">19</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=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;">-</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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=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 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;">(207)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(201)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">62</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;">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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:7.0pt;">Other effects</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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;">(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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">(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:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=30% style="background:#5AC4C4;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1,562</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1,484</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=7% style="background:#5AC4C4;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_9bf87b97df714ebb8ffe5aa8e"></a><a name="XBRL_FS_f3235bde34894d718cbc7a68b"></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;&#160;&#160;&#160;&#160;&#160;&#160;
Including gains and losses arising from settlements.</font></font><a name="XBRL_FS_f3235bde34894d718cbc7a68b_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_365aafe0a29846d7816c41ce4"></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;&#160;&#160;&#160;&#160;&#160;&#160;
Excluding interest, which is recorded under &quot;Interest income or
expense&quot;.</font></font><a name="XBRL_FS_365aafe0a29846d7816c41ce4_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;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;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 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;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 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: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%;">25.1.3. Estimated benefit payments</font></b></font></h3>

<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%;">As of December 31, 2020, the
estimated benefit payments over the next ten years for all the entities in
Spain, Mexico and Turkey are as follows:</font></font><a name="XBRL_TS_9bf87b97df714ebb8ffe5aa8e_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;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;">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</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;">2026-2030</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;">556</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;">474</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;">388</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;">313</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;">257</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;">856</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;">111</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">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;">121</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">774</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 Turkey</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">16</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">22</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">180</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=28% style="background:#5AC4C4;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">683</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">602</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">518</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">452</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">408</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,810</font></b></font></p>
  </td>
 </tr>
</table></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;"><a name="XBRL_TS_c35a13c2f3664a93b7c6cb1e3"></a></h3>
<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-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">
<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;line-height:115%;">25.1.4. Plan assets </font></b></font></h3>

<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%;">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;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%;">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;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%;">To manage the assets associated with defined benefit plans, BBVA
Group has established investment policies designed according to criteria of
prudence and minimizing the financial risks associated with plan assets.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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 investment policy consists of investing in a low risk and
diversified portfolio of assets with maturities consistent with the term of the
benefit obligation and which, together with contributions made to the plan,
will be sufficient to meet benefit payments when due, thus mitigating the
plans&#8216; risks.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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 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;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 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;margin-left:0cm;margin-right:0cm;margin-top: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 table below shows the allocation of plan assets of the main
companies of the BBVA Group as of December 31, 2020, 2019 and 2018:</font></font><a name="XBRL_TS_c35a13c2f3664a93b7c6cb1e3_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;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=41% 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=20% 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;">2020</font></b></font></p>
  </td>
 <td nowrap width=20% 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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Cash or cash
  equivalents</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;">38</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;">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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Debt securities
  (government bonds)</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;">2,707</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;">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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Mutual funds</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;">1</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;">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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Insurance contracts</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;">140</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;">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>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=41% style="background:#09C4C4;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=20% style="background:#09C4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,887</font></b></font></p>
  </td>
 <td nowrap width=20% style="background:#09C4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=41% 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:
  Bank account in BBVA</font></i></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=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=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=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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=41% 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=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=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=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=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>
<tr style="height:12.75pt;">
  <td nowrap width=41% 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=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=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=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=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_5d03c22bc4f84ee68021b0fdc"></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;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 provides
details of investments in listed securities (Level 1) as of December 31, 2020,
2019 and 2018:</font></font><a name="XBRL_TS_5d03c22bc4f84ee68021b0fdc_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;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=37% 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=21% 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;">2020</font></b></font></p>
  </td>
 <td nowrap width=21% 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=21% 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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=37% 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=21% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=21% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=21% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;">
  <td width=37% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,707</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td width=37% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=37% style="background:#5AC4C4;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=21% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,747</font></b></font></p>
  </td>
 <td nowrap width=21% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=21% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:12.75pt;">
  <td width=37% 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:
  Bank account in BBVA</font></i></font></p>
  </td>
 <td nowrap width=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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 width=37% 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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=37% 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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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=21% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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_00e28b08f0f146e4ac854c1f7"></a></p>
<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-152</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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">
<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%;">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, 2020, 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:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><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;line-height:115%;">25.2. Defined contribution plans</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%;">Certain Group entities sponsor defined contribution plans. Some of
these plans allow employees to make contributions which are then matched by the
employer.</font></font></p>

<p style="border:none;margin-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%;">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_00e28b08f0f146e4ac854c1f7_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_51a20cbbbd004fba879f35f1f"></a><a name="_Toc495478140"></a><a name="_Toc481589088"></a><a name="_Toc474142290"></a><a name="_Toc457490033"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">26. 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, 2020, 2019 and
2018, 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><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">under the ticker &#8220;BBVA&#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%;">Additionally, as of December 31,
2020, the shares of Banco BBVA Peru, S.A., BBVA 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. BBVA is also
currently included, amongst other indexes, in the IBEX 35&#174; Index, which 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:0cm;margin-bottom:10.0pt;text-align:justify;"><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, 2020, State
Street Bank and Trust Co., The Bank of New York Mellon SA NV and Chase Nominees
Ltd in their capacity as international custodian/depositary banks, held 10.94%,
1.31%, and 8.36% 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 May 8, 2020, Norges Bank
reported that it had voting power over 3.366% of BBVA&#8217;s common stock, of which
3.235% are voting rights attributed to shares, and 0.131%, 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%;">On January 28, 2021, Blackrock,
Inc. reported to the SEC that it beneficially owned 5.8% 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 8, 2021, GQG Partners
LLC reported that it directly had voting power over 3.090% of BBVA&#8217;s common
stock, all are voting rights attributed to 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%;">On the other hand, BBVA is not
aware of any direct or indirect interests through which control of the Bank may
be exercised. Furthermore, 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_51a20cbbbd004fba879f35f1f_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;"><a name="XBRL_TS_1579fc5ec4ee4daabb641c734"></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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_394"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top: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:9.0pt;line-height:115%;">Resolutions
adopted by the Annual General Meeting </font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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;line-height:115%;">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.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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, 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:10.0pt;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;line-height:115%;">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
introduces the details of the convertible and/or exchangeable securities.</font></font><a name="XBRL_TS_1579fc5ec4ee4daabb641c734_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_6ff09a8212be49fbb5286474d"></a><a name="_Toc376949983"></a><a name="_Toc347755864"></a><a name="_Toc331260326"></a><a name="_Toc299032885"></a><a name="_Toc299031546"></a><a name="_Toc299029464"></a><a name="_Toc298431728"></a><a name="_Toc495478141"></a><a name="_Toc481589089"></a><a name="_Toc474142291"></a><a name="_Toc457490034"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">27. 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 </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%;">2020, 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%;">, 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_6ff09a8212be49fbb5286474d_bclEnd"></a></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;"><a name="XBRL_TS_bfbb91ac2e6d4e1ba68445b92"></a><a name="_Toc495478142"></a><a name="_Toc481589090"></a><a name="_Toc474142292"></a><a name="_Toc457490035"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">28. Retained earnings, revaluation reserves and other reserves</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;line-height:115%;"> &nbsp;</font></b></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;"><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:115%;">28.1. 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_bfbb91ac2e6d4e1ba68445b92_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_ECCO_28.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td colspan=5 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;">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=#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:27.0pt;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: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;">2020</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>
 </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;">653</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;">120</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>
 </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;">-</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>
 </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;">Voluntary reserves</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;">8,117</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;">8,331</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;">8,010</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=53% style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">8,890</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:22.5pt;">
  <td width=53% 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;">Consolidation
  reserves attributed to the Bank and subsidiary consolidated companies.</font></font></p>
  </td>
 <td width=11% 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=12% 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;">21,454</font></font></p>
  </td>
 <td nowrap width=12% 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;">20,161</font></font></p>
  </td>
 <td nowrap width=12% 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;">18,018</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=53% style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">30,344</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">29,269</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">26,028</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_0dc3e4989b5f4065a6f8d22f6"></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;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;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:115%;">28.2. Legal reserve </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%;">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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;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:115%;">28.3. 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;line-height:115%;">As of December 31,
2020, 2019 and 2018, the Bank&#8217;s restricted reserves are as follows:</font></font><a name="XBRL_TS_0dc3e4989b5f4065a6f8d22f6_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:14.25pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;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;">Restricted
  reserves. Breakdown by concepts (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#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 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=#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:14.25pt;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>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=57% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Restricted
  reserve for retired capital</font></font></p>
  </td>
 <td nowrap width=15% 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;">88</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;">88</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;">88</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=57% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">34</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;">44</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=57% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Restricted
  reserve for redenomination of capital in euros</font></font></p>
  </td>
 <td nowrap width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=57% style="background:#5AC4C4;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">120</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=14% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_22f4b41b0a3c4b4d886602d1c"></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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;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:115%;">28.4. 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&#8221;, &#8220;Revaluation reserves&#8221; and &#8220;other reserves&#8221; in the accompanying
consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_22f4b41b0a3c4b4d886602d1c_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;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 company or
  corporate group (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=#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:27.0pt;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: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;">2020</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>
 </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 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 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 0cm 0cm 0cm;">
  <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: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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></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;">15,014</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;">14,698</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 Bancomer 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;">12,890</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">2,509</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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 Banco Provincial
  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;">1,731</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,736</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,745</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 Argentine 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;">1,302</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,148</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,220</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;">1,287</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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;">920</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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 Peru 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;">984</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">619</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">168</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;">160</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">114</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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>
 </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;">77</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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
  de 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;">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;">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>
 </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;">42</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">(12)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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>
 </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;">(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;">(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>
 </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;">(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;">(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>
 </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;">(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;">(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>
 </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</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;">363</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;">Sociedades
  inmobiliarias Unnim</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;">(617)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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 USA Bancshares
  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;">(1,078)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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.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;">(5,409)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">Other</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;">644</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">30,508</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">29,388</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">26,066</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 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 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 0cm 0cm 0cm;">
  <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: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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></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;">ATOM Bank PLC</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;"><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=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=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;">(56)</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;">(28)</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;">Metrovacesa, 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;"><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=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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">Other</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;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">51</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(119)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">30,344</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">29,269</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">26,028</font></b></font></p>
  </td>
 </tr>
</table></div>




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</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">
<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_4ba870ce8974439c8014c042b"></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_4ba870ce8974439c8014c042b_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>

<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="_Toc376949987"></a><a name="_Toc331260328"></a><a name="_Toc299032887"></a><a name="_Toc299031548"></a><a name="_Toc299029466"></a><a name="_Toc298431730"></a><a name="XBRL_TS_e9756777792f49da9d7872c85"></a><a name="_Toc495478143"></a><a name="_Toc481589091"></a><a name="_Toc474142296"></a><a name="_Toc457490036"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">29. 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, </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%;">2020, 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%;">the Group entities performed the following transactions with
shares issued by the Bank:</font></font><a name="XBRL_TS_e9756777792f49da9d7872c85_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:13.0pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;height:13.0pt;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;">Treasury
  shares (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=37% style="height:10.5pt;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>
 <td colspan=2 width=22% 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=#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 colspan=2 width=20% 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=#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=21% 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=#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:21.0pt;">
  <td width=37% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size: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;">Number of Shares</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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;">Millions of Euros</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Number of Shares</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Number of Shares</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;">Millions of Euros</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=37% style="background:#5AC4C4;border:none;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:8.0pt;">Balance at beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">12,617,189</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">62</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">47,257,691</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">296</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">13,339,582</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">96</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=37% 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;">&#160;+ Purchases</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:8.0pt;">234,691,887</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:8.0pt;">807</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:8.0pt;">214,925,699</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:8.0pt;">1,088</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:8.0pt;">279,903,844</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:8.0pt;">1,683</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=37% 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;">&#160;- Sales and other
  changes</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:8.0pt;">(232,956,244)</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:8.0pt;">(830)</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:8.0pt;">(249,566,201)</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:8.0pt;">(1,298)</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:8.0pt;">(245,985,735)</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:8.0pt;">(1,505)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=37% 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;">&#160;+/- Derivatives on
  BBVA shares</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:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7</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:8.0pt;">-</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:8.0pt;">(23)</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:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">23</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=37% 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;">&#160;+/- Other changes</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:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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:8.0pt;">-</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:8.0pt;">-</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:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=37% style="background:#5AC4C4;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:8.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">14,352,832</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">12,617,189</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">62</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">47,257,691</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">296</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=37% 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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=37% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Held by BBVA,
  S.A.</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">592,832</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">9</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=#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=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=#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=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=#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=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=#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:10.5pt;">
  <td nowrap width=37% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Held by Corporaci&#243;n
  General Financiera, S.A.</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">13,760,000</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">37</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">12,617,189</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">62</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">47,257,691</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">296</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=37% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Held by other
  subsidiaries</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=#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=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=#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=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=#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=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=#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=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=#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=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=#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:10.5pt;">
  <td nowrap valign=bottom width=37% 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;">Average purchase
  price in Euros</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:8.0pt;">3.44</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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:8.0pt;">5.06</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:8.0pt;">-</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:8.0pt;">6.11</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:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=37% 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;">Average selling
  price in Euros</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:8.0pt;">3.63</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:8.0pt;">-</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:8.0pt;">5.20</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:8.0pt;">-</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:8.0pt;">6.25</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:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td valign=bottom width=37% 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;">Net gains or
  losses on transactions </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(Shareholders'
  funds-Reserves)</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-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: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=10% 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 face=Arial,sans-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: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;">13</font></font></p>
  </td>
 <td nowrap width=10% 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 face=Arial,sans-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: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;">(24)</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_dd72b65f51a34bda9dae2615b"></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, </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%;">2020, 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%;">are as follows:</font></font><a name="XBRL_TS_dd72b65f51a34bda9dae2615b_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_29_002_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=10 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:7.0pt;">Treasury Stock</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=28% 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: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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2020</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=3 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=#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: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:13.5pt;">
  <td nowrap valign=bottom width=28% 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;">% treasury stock</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">0.008%</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">0.464%</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">0.215%</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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_107ee233c27a4988a8b1e1b87"></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, </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%;">2020, 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%;">is as follows:</font></font><a name="XBRL_TS_107ee233c27a4988a8b1e1b87_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;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;">2020</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;">2019</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;">2018</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;">39,407,590</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;">43,018,382</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;">61,632,832</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;">0.59%</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;">0.65%</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;">0.92%</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_ef1904b237c64e61b4ad9886b"></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, </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%;">2020, 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%;">is as follows:</font></font><a name="XBRL_TS_ef1904b237c64e61b4ad9886b_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;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;">2020</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;">2019</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;">2018</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;">18,266,509</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;">23,807,398</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;">25,306,229</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;">0.27%</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:8.0pt;">0.36%</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;">0.38%</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=ES-TRAD 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_480c59e72abf4337be8eae92b"></a><a name="_Toc495478144"></a><a name="_Toc481589092"></a><a name="_Toc474142297"></a><a name="_Toc457490037"></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-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>

</DIV>
</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">
<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;line-height:115%;">30. 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;line-height:115%;"> (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_480c59e72abf4337be8eae92b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalanceD_030_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:10.5pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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 lang=EN-US style="font-size:8.0pt;">Accumulated
  other comprehensive income (loss) (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 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: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;">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;">2020</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>
 </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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Items that
  will not be reclassified to profit or loss</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height: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 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:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(2,815)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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 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:8.0pt;">(1,284)</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;">Actuarial gains
  (losses) on defined benefit pension plans</font></font></p>
  </td>
 <td 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,474)</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,498)</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,245)</font></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 lang=EN-US style="font-size:8.0pt;">Non-current
  assets and disposal groups classified as held for sale</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=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:8.0pt;">(65)</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160;Share of other
  recognized income and expense of investments in subsidiaries, joint ventures
  and associates</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Fair value
  changes of equity instruments measured at fair value through other
  comprehensive income</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13.4</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,256)</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(404)</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(155)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Hedge
  ineffectiveness of fair value hedges for equity instruments measured at fair
  value through other comprehensive income</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Fair value
  changes of financial liabilities at fair value through profit or loss
  attributable to changes in their credit risk </font></font></p>
  </td>
 <td width=11% style="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 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=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">116</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Items that
  may be reclassified to profit or loss</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height: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 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:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(11,541)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(8,351)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(8,939)</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;">Hedge of net
  investments in foreign operations (effective portion)</font></font></p>
  </td>
 <td 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(62)</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(896)</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(218)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: US Dollar</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:10.5pt;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 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(432)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(432)</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: Mexican
  peso</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:10.5pt;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;">(362)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(588)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(78)</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: Turkish
  lira</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:10.5pt;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;">317</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">163</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">322</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: other
  exchanges</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:10.5pt;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;">(18)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(38)</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=#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>
 </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;">Foreign currency
  translation </font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=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=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:8.0pt;">(14,185)</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(9,147)</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(9,630)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: US Dollar</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:10.5pt;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;">(16)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,565</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,326</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: Mexican
  peso</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:10.5pt;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;">(5,220)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(3,557)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(4,205)</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: Turkish
  lira</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:10.5pt;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;">(4,960)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(3,750)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(3,326)</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: Argentine
  peso</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:10.5pt;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;">(1,247)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(1,124)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(1,118)</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which:
  Venezuelan Bol&#237;var</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:10.5pt;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;">(1,860)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(1,854)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(1,862)</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: other
  exchanges</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:10.5pt;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;">(882)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(427)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(445)</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 lang=EN-US style="font-size:8.0pt;">Hedging
  derivatives. Cash flow hedges (effective portion)</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=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:8.0pt;">10</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(44)</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(6)</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=top width=56% 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;">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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13.4</font></font></p>
  </td>
 <td width=11% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,069</font></font></p>
  </td>
 <td width=11% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,760</font></font></p>
  </td>
 <td width=11% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">943</font></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 lang=EN-US style="font-size:8.0pt;">Hedging
  instruments (non-designated items)</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=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:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></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 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=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">644</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(18)</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Share of other
  recognized income and expense of investments in subsidiaries, joint ventures
  and associates</font></font></p>
  </td>
 <td 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 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=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(17)</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(5)</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(29)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="background:#5AC4C4;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:8.0pt;">Total</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(14,356)</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(10,226)</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(10,223)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_8a7fa14da6884d80bcc356eda"></a><a name="XBRL_FS_4e6b08cb5b874ebb8a3ebff2a"></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 for the year 2020 corresponds, mainly, to the BBVA USA sale agreement
(see Notes 21).</font></font><a name="XBRL_FS_4e6b08cb5b874ebb8a3ebff2a_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%;">&#160;&#160; &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></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 main changes in 2020 are explained as a result of the
depreciation of the main currencies of the geographies where the Group operates
against the euro. The main depreciations against the euro have been: US dollar
(-8.5%), Mexican peso (-13.1%), Turkish lira (-26.7%), Peruvian sol (-16.3%),
Colombian peso (-12.6%) and Argentine peso (-34.8%).</font></font><a name="XBRL_TS_8a7fa14da6884d80bcc356eda_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="_Toc376949989"></a><a name="_Toc347755868"></a><a name="_Toc331260330"></a><a name="_Toc299032889"></a><a name="_Toc299031550"></a><a name="_Toc299029468"></a><a name="_Toc298431732"></a><a name="XBRL_TS_13a56884308945f78a2a30486"></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-157</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_398"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;line-height:150%;">31. 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:150%;">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_13a56884308945f78a2a30486_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalanceD_031_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 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 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=51% 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=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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif style="font-size:8.0pt;">2020</font></b></font></p>
  </td>
 <td 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A 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: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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">Garanti BBVA</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;">3,692</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;">4,240</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;">4,058</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">BBVA Peru</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;">1,171</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;">1,334</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;">1,167</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">BBVA Argentina</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;">416</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;">422</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;">352</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">BBVA Colombia</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;">70</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;">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=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 nowrap 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:8.0pt;">BBVA Venezuela</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;">65</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;">71</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;">67</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">Other entities</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;">56</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;">57</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;">53</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=51% style="background:#5AC4C4;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,471</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_b58cfbd0541b4a83b86a7e30e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:150%;">These amounts are broken down by groups of consolidated entities
under the heading &#8220;Attributable to minority interests (non-controlling
interests)&#8221; in the accompanying consolidated income statements:</font></font><a name="XBRL_TS_b58cfbd0541b4a83b86a7e30e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasresultadosD_031_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=4 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 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=52% 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=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=#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 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=#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: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>
 </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 style="font-size:8.0pt;">Garanti BBVA</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;">579</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;">524</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;">585</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 style="font-size:8.0pt;">BBVA Peru</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;">126</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;">236</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;">227</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 style="font-size:8.0pt;">BBVA Argentina</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;">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:8.0pt;">60</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;">(18)</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 style="font-size:8.0pt;">BBVA Colombia</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</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;">11</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;">9</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 style="font-size:8.0pt;">BBVA Venezuela</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;">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=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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;">
  <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 style="font-size:8.0pt;">Other entities</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;">5</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;">4</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;">30</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% style="background:#5AC4C4;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">756</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_1c92b4a4abfe4cc0adc3dbf87"></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 2020 are: </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align: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%;">BBVA Banco Continental 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:150%;">79 </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:150%;">million, BBVA Garanti 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:150%;">31 </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:150%;">million, BBVA Colombia Group
&#8364;4 million, and other Group entities accounted for</font><font color=red face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:150%;"> </font><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:150%;">&#8364;&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:150%;">4 </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:150%;">million.</font></font><a name="XBRL_TS_1c92b4a4abfe4cc0adc3dbf87_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_405d2a928217436da82d8e964"></a><a name="_Toc505355965"></a><a name="_Toc495478146"></a><a name="_Toc481589094"></a><a name="_Toc474142299"></a><a name="_Toc457490039"></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">
<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;line-height:115%;">32. Capital base and capital management</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;line-height:115%;">&#160;&nbsp;</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%;">32.1. 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, 2020, 2019 and
2018, own funds is calculated in accordance to the applicable regulation of
each year on minimum capital requirements for Spanish credit institutions &#8211;both
as individual entities and as consolidated group&#8211; that establish 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%;">With respect to the capital
requirement the ECB, in its announcement on March 12, 2020, in reaction to
COVID-19, has allowed the banks to use additional Tier 1 or Tier 2 capital
instruments to meet partially the Pillar II (P2R) requirements for 2021, which
is known as &quot;Pillar 2 tiering.&quot; This measure has been reinforced by
the relaxation of the Countercyclical Capital Buffer (CCyB) announced by
various national macroprudential authorities and by other complementary
measures published by the ECB. All of this has resulted in a reduction of 66
basis points in the CET1 requirement for BBVA, with that requirement standing
at 8.59% and the requirement in terms of total capital at 12.75%, both
requirements at consolidated level. The reduction in the requirement at the
total ratio level is only around 2 basis points, as a result of the lower
applicable countercyclical buffer.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">From 2021 onwards, the BBVA Group
has set the objective of maintaining a CET1 ratio at a consolidated level of
between 11.5% -12.0%, increasing the target distance to the minimum requirement
(currently at 8.59 %) at 291-341 basis points. At closing of the financial year
2020, the CET1 ratio is within this target management range.</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
reconciliation of the main figures between the accounting and regulatory own
funds as of December 31, 2020, 2019 and 2018 is shown below:</font></font><a name="XBRL_TS_405d2a928217436da82d8e964_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:8.5pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;height:8.5pt;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;">Eligible
  capital resources (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:16.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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: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;">2020 </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>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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=11% 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=56% 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=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=56% 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=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">30,344</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;">29,269</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;">26,029</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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=11% 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;">42</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>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">(46)</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>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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;">Profit (loss)
  attributable to the parent company</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">1,305</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>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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;">Interim dividend</font></font></p>
  </td>
 <td nowrap width=11% 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;">-</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;">(1,084)</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;">(1,109)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">58,904</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">58,950</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">57,333</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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;">Accumulated
  other comprehensive income (loss)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">30</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;">(14,356)</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;">(10,226)</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;">(10,223)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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;">Non-controlling
  interest</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">31</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;">5,472</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;">6,201</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;">5,764</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">50,020</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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;">Goodwill and
  other intangible assets</font></font></p>
  </td>
 <td nowrap width=11% 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 lang=EN-US 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;">(3,455)</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;">(6,803)</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;">(8,199)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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;">Indirect and
  synthetic treasury shares</font></font></p>
  </td>
 <td nowrap width=11% 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 lang=EN-US 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;">(320)</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;">(422)</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;">(135)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(3,775)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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;">Differences
  from solvency and accounting perimeter</font></font></p>
  </td>
 <td nowrap width=11% 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 lang=EN-US 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;">(186)</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;">(215)</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;">(176)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(186)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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 adjustments and
  deductions (1)</font></font></p>
  </td>
 <td nowrap width=11% 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;">(3,128)</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;">(3,832)</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;">(4,049)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">42,931</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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;">Additional Tier
  1 before Regulatory Adjustments</font></font></p>
  </td>
 <td nowrap width=11% 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 lang=EN-US 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;">6,666</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;">6,048</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;">5,634</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% 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;">Total
  Regulatory Adjustments to Additional Tier 1</font></font></p>
  </td>
 <td nowrap width=11% 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 lang=EN-US 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;">-</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;">-</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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">49,597</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">8,548</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">58,145</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap valign=bottom width=56% style="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=11% 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 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=11% style="height:9.75pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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=11% style="background:#5AC4C4;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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">45,042</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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_c16685ae48694dcd967aa6e9f"></a><a name="XBRL_FS_059cda274a924dbfb2d2edcc4"></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;(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><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">In addition it includes other
remuneration to shareholders (see Note 4)</font></font><a name="XBRL_FS_059cda274a924dbfb2d2edcc4_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-159</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_400"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 own funds in
accordance with the aforementioned applicable regulation as of December 31,
2020, 2019 and 2018 are shown below:</font></font><a name="XBRL_TS_c16685ae48694dcd967aa6e9f_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:15.5pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;height:15.5pt;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:7.0pt;">Amount of
  capital CC1 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap valign=bottom width=54% style="height:15.5pt;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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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=15% style="height:15.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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=15% style="height:15.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:15.5pt;">
  <td width=54% style="border:none;border-bottom:solid black 1.0pt;height:15.5pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.5pt;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;">2020</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.5pt;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;">2019 (*)</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.5pt;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;">2018 (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="border:none;height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="border:none;height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="border:none;height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">29,974</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">29,127</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">25,896</font></font></p>
  </td>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(14,023)</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(10,133)</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(10,130)</font></font></p>
  </td>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3,656</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">860</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.5pt;">
  <td width=54% style="height:15.5pt;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;">Common Equity
  Tier I (CET1) before other regulatory adjustments</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">47,726</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">51,974</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">50,022</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(3,455)</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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 own Common Equity Tier I instruments</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(1,463)</font></font></p>
  </td>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">504</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;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 common
  equity Tier 1 regulatory adjustments</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(4,795)</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(8,321)</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(9,709)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;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;">Common equity TIER
  1 (CET1)</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">42,931</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
 </tr>
<tr style="height:20.5pt;">
  <td width=54% style="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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;">Capital
  instruments and share premium accounts classified as liabilities and
  qualifying as Additional Tier I</font></font></p>
  </td>
 <td nowrap width=16% style="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">6,130</font></font></p>
  </td>
 <td nowrap width=15% style="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:20.5pt;">
  <td width=54% style="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">536</font></font></p>
  </td>
 <td nowrap width=15% style="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.5pt;">
  <td width=54% style="height:15.5pt;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;">Additional
  Tier 1 (CET 1) before regulatory adjustments</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">6,666</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Transitional CET 1
  adjustments</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;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 to additional Tier 1</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;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;">Additional Tier 1
  (AT1) </font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">6,666</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
 </tr>
<tr style="height:15.5pt;">
  <td width=54% style="background:#5AC4C4;height:15.5pt;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:7.0pt;">Tier 1 (Common
  equity TIER 1+ additional TIER 1)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">49,597</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=15% style="background:#5AC4C4;height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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;">Capital instruments
  and share premium accounted as Tier 2</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">4,540</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3,242</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:20.5pt;">
  <td width=54% style="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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
  2 capital included in consolidated T2 capital issued by subsidiaries and held
  by third parties</font></font></p>
  </td>
 <td nowrap width=16% style="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3,410</font></font></p>
  </td>
 <td nowrap width=15% style="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">4,512</font></font></p>
  </td>
 <td nowrap width=15% style="height:20.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">604</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;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 before
  regulatory adjustments</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">8,554</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">8,385</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;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 regulatory
  adjustments </font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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)</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(82)</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;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</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">8,548</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
 </tr>
<tr style="height:15.5pt;">
  <td width=54% style="background:#5AC4C4;height:15.5pt;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 capital (Total
  capital=Tier 1 + Tier 2)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">58,145</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=15% style="background:#5AC4C4;height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
 </tr>
<tr style="height:15.5pt;">
  <td width=54% style="background:#5AC4C4;height:15.5pt;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 RWA's</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">353,273</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=15% style="background:#5AC4C4;height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">12.2%</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">14.0%</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:15.5pt;">
  <td nowrap width=54% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">16.5%</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=15% style="height:15.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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_822edc0e23f04e19820012340"></a><a name="XBRL_FS_21f0e0cfaf22439084769bad3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) According to EBA
Standards published in June 2020 (EBA / ITS / 2020/04), the table has been
adapted according to the format established by the EBA in those rows that are
applicable to the date of the report, between which is the transitory impact by
IFRS 9 in CET1, which has been reclassified from the row &quot;Common Equity
Tier 1 before regulatory adjustments&quot; as a regulatory adjustment of Common
Equity Tier 1 capital, within the row &quot;Other deductions and filters
&quot;. </font></font><a name="XBRL_FS_21f0e0cfaf22439084769bad3_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_FS_b17ca1df3b804583afd5134c6"></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%;">(**) Additionally, it includes other shareholder remuneration (see
Note 4).</font></font><a name="XBRL_FS_b17ca1df3b804583afd5134c6_bclEnd"></a></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%;">As of December 2020 Common Equity Tier 1 (CET1) phased-in ratio
stood at 12.15% which represented and in increase of +17 basis points with
respect to 2019. In terms of CET1 fully loaded, the consolidated ratio stood at
11.73% (which represents a reduction of 1 basis point compared to 2019). The
difference is mainly explained by the effect of the transitory adjustments for
the treatment in the solvency ratios of the impacts of IFRS 9 and subsequent
modifications in response to the COVID-19 pandemic.</font></font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-160</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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">
<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%;">This evolution had been affected by the positive BBVA&#180;s organic
profit generation which has it made possible to cover the growth of risk
weighted assets (RWA) and the relative stabilization of the financial markets
during the second half of the year, largely motivated by the measures to
stimulate the economy and the announced guaranteed programs by the different
national and supranational authorities and the approval by the Parliament and
the European Council of regulation 2020/873 (known as CRR quick fix).</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%;">Regarding the shareholder remuneration proposal in relation to the
Group's 2020 result, explained in Note 4, this amount has been anticipated as a
prudential buffer in the Group's capital ratios, with an impact of 11 basis
points.</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%;">Phased-in additional Tier 1 capital (AT1) stood at 1, 89% at the
end of December 2020, an improvement of +23 basis points compared to the
previous year. In this respect, in July 2020, the first green CoCo from a
financial institution worldwide was issued for an amount of &#8364;1,000 million,
with a coupon of 6% and an option for early amortization in five and a half
years. Moreover, a CoCo of &#8364;1,500 million (coupon of 6.75%) was amortized in
February, on the first date of the early amortization option; in January 2021,
the early amortization options were implemented for two preferential issuances,
issued by BBVA International Preferred and Caixa Sabadell Preferents for 31
million pounds sterling and &#8364;90m respectively; and finally, for a third
preferential issuance issued by Caixa Terrassa Societat de Participacions
Preferents, the bondholders' meeting has approved its early amortization on
January 29, 2021 (versus the amortization option date of August 10, 2021). As
of December 31, 2020, these issuances do not form part of the Group's capital
adequacy ratios. </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 phased-in Tier 2 ratio stood at 2.42%, an increase of +14
basis points over the previous years. Two Tier 2 issuances were issued in 2020:
an issuance of &#8364;1,000 million in January, with a maturity of 10 years and an
amortization option from the fifth year, with a coupon of 1%; and another
issuance of 300 million pounds sterling in July, with a maturity of 11 years
and with an early amortization option from the sixth year, with a coupon of
3.104%.</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%;">Regarding the MREL (Minimum Requirement for own funds and Eligible
Liabilities) requirements, BBVA has continued its issuance plan during 2020 by
closing two public issuances of non-preferred senior debt, one in January 2020
for &#8364;1,250m with a maturity of seven years and a coupon of 0.5%, and another in
February 2020 for CHF 160m with a maturity of six and a half years and a coupon
of 0.125%. In May 2020, the first issuance of a COVID-19 social bond by a
private financial institution in Europe was completed. This is a five-year
senior preferred bond, for &#8364;1,000 million and a coupon of 0.75%. Finally, in
order to optimize the MREL requirement, in September BBVA issued preferred
senior debt of USD 2,000 million in two tranches, with maturities of three and
five years, for USD 1,200 million and USD 800 million and coupons of 0.875% and
1.125% respectively. </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 Group estimates that, following the entry into force of
Regulation (EU) No. 2019/877 of the European Parliament and of the Council of
May 20 (which, among other matters, establishes the MREL in terms of RWAs and
new periods for said requirement's transition and implementation), the current
structure of shareholders&#8217; funds and admissible liabilities enables compliance
with the MREL.</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:11.0pt;line-height:115%;">32.2. 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 enable 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, being the carrying amount of the
assets used in this ratio adjusted to reflect the bank&#8217;s current or potential
leverage of 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
leverage ratio as of December 31, 2020, 2019 and 2018, calculated according to
CCR, is as follows:</font></font><a name="XBRL_TS_822edc0e23f04e19820012340_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;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;">Leverage ratio</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;">2020 </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>
 </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;">49,597</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;">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>
 </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;">741,095</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;">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>
 </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;">6.69%</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;">6.80%</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>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_ea6e686d6b294e61a56015246"></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;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%;">32.3. Capital management</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%;">The aim of capital management within BBVA and the Group is to assist
that both BBVA and the Group have the necessary capital at any given time to
develop the corporate strategy reflected in the Strategic Plan, in line with
the risk profile set out in the Group Risk Appetite Framework (RAF).</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%;">In this regard, BBVA's capital management is also part of the most
relevant forward-looking strategic decisions in the Group's management and
monitoring, which include the Annual Budget and the Liquidity and Funding Plan,
with which it is coordinated &#8212; all with the aim of achieving the Group's
overall strategy.</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-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">
<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%;">Capital must be allocated
optimally in order to meet the need to preserve the solvency of BBVA and the
Group at all times. Together with the Group's solvency risk profile included in
the RAF, this optimal allocation serves as a guide for the Group's capital
management and means a continuous need for a solid capital position that makes
it possible to:</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%;">Anticipate ordinary and
extraordinary consumption that may occur, even under stress;</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%;">Promote the development of the
Group's business and align it with capital and profitability objectives by
allocating resources appropriately and efficiently;</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%;">(Cover all risks&#8212;including
potential risks&#8212;to which it is exposed&#172;;</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%;">Comply with regulatory and internal
management requirements at all times; 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=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%;">Remunerate BBVA shareholders in
accordance with the Shareholder Remuneration Policy in force at any given time.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The areas involved in capital management in the Group shall follow
and respect the following principles in their respective areas of
responsibility:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;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%;">Supporting that capital management
is integrated and consistent with the Group's Strategic Plan, RAF, Annual
Budget and other strategic-prospective processes, to help achieve the Group's
long-term sustainability.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;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%;">Taking into account both the
applicable regulatory and supervisory requirements and the risks to which the Group
is&#8212;or may be&#8212;exposed when conducting its business (economic vision), when
establishing a target capital level, all while adopting a forward-looking
vision that takes adverse scenarios into consideration.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;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%;">Carrying out efficient capital
allocation that promotes good business development, supporting that
expectations for the evolution of activity meet the strategic objectives of the
Group and anticipating the ordinary and extraordinary consumption that may
occur.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;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%;">Enabling compliance with the
solvency levels, including the minimum requirement for own funds and eligible
liabilities (MREL), required at any given time.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;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%;">Compensating BBVA shareholders in
an adequate and sustainable manner.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;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%;">Optimizing the cost of all
instruments used for the purpose of meeting the target capital level at any
given time</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">To achieve the aforementioned principles, capital management will
be based on the following essential elements:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;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%;">An adequate governance and
management scheme, both at the corporate body level and at the executive level.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;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%;">Planning, managing and monitoring
capital properly, using the measurement systems, tools, structures, resources
and quality data necessary to do so. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;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%;">A set of metrics, which is duly
updated, to facilitate the tracking of the capital situation and to identify
any relevant deviations from the target capital level.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;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%;">A transparent, correct, consistent
and timely communication and dissemination of capital information outside the
Group.</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: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%;">An internal regulatory body, which
is duly updated, including the regulations and procedures that, support
adequate capital management.</font></font><a name="XBRL_TS_ea6e686d6b294e61a56015246_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_f93fa45229944083bbc501758"></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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_403"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;line-height:115%;">33. 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_f93fa45229944083bbc501758_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;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=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;">2020</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>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom 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=#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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">7.2.2</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">132,584</font></b></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=#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=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=#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>
 </tr>
<tr style="height:10.5pt;">
  <td width=52% style="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="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;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">265</font></i></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=#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=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=#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>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Central banks</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=#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=12% 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=12% 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=12% 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=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:8.0pt;">General governments</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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,919</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,117</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,318</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Credit institutions</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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,426</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,742</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,635</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Other financial
  corporations </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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,862</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,578</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,664</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Non-financial
  corporations </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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">71,011</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">65,475</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">58,405</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Households </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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">41,366</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">46,011</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42,936</font></i></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=#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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">7.2.2</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">10,665</font></b></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=#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=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=#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>
 </tr>
<tr style="height:10.5pt;">
  <td width=52% style="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="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:8.0pt;">&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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">290</font></i></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=#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=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=#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>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Central banks</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=#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=12% 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;">1</font></i></font></p>
  </td>
 <td nowrap width=12% 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=12% 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;">2</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">General governments</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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">132</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">125</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">159</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Credit institutions</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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">339</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">995</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,274</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Other financial
  corporations </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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">587</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">583</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">730</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Non-financial
  corporations</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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,376</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,986</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13,970</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Households </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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">231</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">295</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">319</font></i></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=#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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">7.2.2</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">36,190</font></b></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=#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=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=#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>
 </tr>
<tr style="height:10.5pt;">
  <td width=52% style="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="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;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">477</font></i></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=#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=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=#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>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Central banks</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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">124</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1</font></i></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;"><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=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:8.0pt;">General governments</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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">199</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">521</font></i></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;"><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=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:8.0pt;">Credit institutions</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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,285</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,952</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,875</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Other financial
  corporations</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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,902</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,902</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,990</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Non-financial
  corporations</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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">27,496</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">29,682</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">25,723</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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:8.0pt;">Households </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=#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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">182</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">151</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">261</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=52% style="background:#5AC4C4;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;height:13.5pt;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;">7.2.2</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">179,440</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_b8c147e6ba3d44dfabe8d5b9c"></a><a name="XBRL_FS_e7666ef156ce4b20b0d4a8873"></a><sup><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)</font></font></sup><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;"> Non-performing
financial guarantees given amounted to &#8364;767, &#8364;731 and &#8364;740 million, respectively,
as of December 31, 2020, 2019 and 2018. </font></font><a name="XBRL_FS_e7666ef156ce4b20b0d4a8873_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">As of December 31, 2020, the provisions for loan commitments
given, financial guarantees given and other commitments given, recorded in the
consolidated balance sheet amounted &#8364;280 million, &#8364;182 million and 266&#8364;
million, respectively (see Note 24).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><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;text-align:justify;"><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 2020,
2019 and 2018, 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_b8c147e6ba3d44dfabe8d5b9c_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">. </font></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc376949993"></a><a name="_Toc347755872"></a><a name="_Toc331260334"></a><a name="_Toc299032893"></a><a name="_Toc299031554"></a><a name="_Toc299029472"></a><a name="_Toc298431736"></a><a name="XBRL_TS_9414da49dd274dffba02d422c"></a><a name="_Toc495478148"></a><a name="_Toc481589096"></a><a name="_Toc474142303"></a><a name="_Toc457490041"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">34. 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 2020, 2019 and 2018
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_9414da49dd274dffba02d422c_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">.</font></font></p>

<p style="border:none;margin-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_00491658e7ba4ffbb9f533bef"></a><a name="_Toc505355968"></a><a name="_Toc495478149"></a><a name="_Toc481589097"></a><a name="_Toc474142304"></a><a name="_Toc457490042"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">35. Purchase and sale commitments and future
payment obligations</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 purchase and sale commitments
of the BBVA Group are disclosed in Notes 10, 14 and 22.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Future payment obligations mainly
correspond to leases payable derived from operating lease contracts, as
detailed in Note 22.5, and estimated employee benefit payments, as detailed in
Note 25.1.3.</font></font><a name="XBRL_TS_00491658e7ba4ffbb9f533bef_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="_Toc376949998"></a><a name="_Toc347755874"></a><a name="_Toc331260336"></a><a name="_Toc299032895"></a><a name="_Toc299031556"></a><a name="_Toc299029475"></a><a name="_Toc298431738"></a><a name="XBRL_TS_1ca90ed576c24ea79b00882ff"></a><a name="_Toc505355969"></a><a name="_Toc495478150"></a><a name="_Toc481589098"></a><a name="_Toc474142305"></a><a name="_Toc457490043"></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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_404"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;line-height:115%;">36. 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, 2020, 2019 and 2018 the details of the relevant
transactions on behalf of third parties are as follows:</font></font><a name="XBRL_TS_1ca90ed576c24ea79b00882ff_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:13.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;height:13.0pt;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;">Transactions
  on behalf of third parties. Breakdown by concepts (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=62% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;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=13% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=13% style="border:none;border-bottom:solid black 1.0pt;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:13.0pt;">
  <td nowrap width=62% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">357,022</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">693,497</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">689,157</font></font></p>
  </td>
 </tr>
<tr style="height:13.0pt;">
  <td width=62% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,459</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.0pt;">
  <td nowrap width=62% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:13.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td width=62% style="background:#5AC4C4;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">372,766</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">713,759</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">707,508</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-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc376949999"></a><a name="_Toc347755875"></a><a name="_Toc331260337"></a><a name="_Toc299032896"></a><a name="_Toc299031557"></a><a name="_Toc299029476"></a><a name="_Toc298431739"></a><a name="XBRL_TS_694749a1804e4f7484f8e4ff9"></a><a name="_Toc495478151"></a><a name="_Toc481589099"></a><a name="_Toc474142306"></a><a name="_Toc457490044"></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;line-height:115%;">37. </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;line-height:115%;">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="_Toc474142307"></a><a name="_Toc376972403"></a><a name="_Toc376949995"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">37.1. 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;line-height:115%;">and other 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
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_694749a1804e4f7484f8e4ff9_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_001_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:11.45pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;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=61% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=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: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;">2020</font></b></font></p>
  </td>
 <td 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=#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: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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 lang=EN-US style="font-size:8.0pt;">Financial
  assets held for trading</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;">1,189</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;">2,037</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;">2,055</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Financial
  assets designated at fair value through profit or loss</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;">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=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=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</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Financial
  assets at fair value through other comprehensive income</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;">1,392</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;">1,629</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;">1,620</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Financial
  assets at amortized cost</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;">18,357</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;">22,741</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;">22,029</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Insurance activity</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;">1,021</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;">1,079</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;">1,141</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Adjustments of
  income as a result of hedging transactions </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;">(112)</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;">(72)</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;">(162)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Other income (*)</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;">534</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;">343</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;">268</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=61% style="background:#5AC4C4;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">22,389</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">27,762</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">26,954</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_85501998b2b44792aa9ba808e"></a><a name="XBRL_FS_05fe82760d8f4785ab458fbb1"></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
accrued interest following TLTRO III transactions in 2020 and 2019 (see Note
22).</font></font><a name="XBRL_FS_05fe82760d8f4785ab458fbb1_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 amounts recognized in
consolidated equity in connection with hedging derivatives for the years ended
December 31, 2020, 2019 and 2018 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><a name="XBRL_TS_85501998b2b44792aa9ba808e_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font 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:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_e3e8db5639e74b60b6c65792d"></a><a name="_Toc474142308"></a><a name="_Toc376972404"></a><a name="_Toc376949996"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">37.2. 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_e3e8db5639e74b60b6c65792d_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_002_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 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 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 width=64% 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;">2020</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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=64% 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
  liabilities held for trading </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;">742</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;">1,229</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;">1,210</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 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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;">
  <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 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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,757</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 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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 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 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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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 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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">85</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 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 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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">284</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;">
  <td nowrap width=64% style="background:#5AC4C4;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=12% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">7,797</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">11,972</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">11,669</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="_Toc474142309"></a><a name="_Toc376972405"></a><a name="_Toc376949997"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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="_Toc376950000"></a><a name="_Toc347755876"></a><a name="_Toc331260338"></a><a name="_Toc299032897"></a><a name="_Toc299031558"></a><a name="_Toc299029477"></a><a name="_Toc298431740"></a><a name="XBRL_TS_bcab470448f04fc8acddb65af"></a><a name="_Toc495478152"></a><a name="_Toc481589100"></a><a name="_Toc474142310"></a><a name="_Toc457490045"></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-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">
<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;line-height:115%;">38. 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_bcab470448f04fc8acddb65af_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_001.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:11.25pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;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;">Dividend
  income (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=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: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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#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 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=#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: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>
 </tr>
<tr style="height:22.5pt;">
  <td width=57% style="border:none;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=10% style="border:none;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;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;">15 </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;">26 </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;">19 </font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=57% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=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=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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">122</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">126</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">126</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=57% style="background:#5AC4C4;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;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=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">137</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">153</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">145</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;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="_Toc376950001"></a><a name="_Toc347755877"></a><a name="_Toc331260339"></a><a name="_Toc299032898"></a><a name="_Toc299031559"></a><a name="_Toc299029478"></a><a name="_Toc298431741"></a><a name="XBRL_TS_dea95eab3f2f4e9abe1782335"></a><a name="_Toc495478153"></a><a name="_Toc481589101"></a><a name="_Toc474142311"></a><a name="_Toc457490046"></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;line-height:115%;">39. 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;39 million as of
December 31, 2020, compared with the negative impact of &#8364;42 and the negative
impact of &#8364;7 million recorded as of December 31, 2019 and 2018, respectively.</font></font><a name="XBRL_TS_dea95eab3f2f4e9abe1782335_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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="_Toc376950002"></a><a name="_Toc347755878"></a><a name="_Toc331260340"></a><a name="_Toc299032899"></a><a name="_Toc299031560"></a><a name="_Toc299029479"></a><a name="_Toc298431742"></a><a name="XBRL_TS_c5c49eba06644184811a1e5dc"></a><a name="_Toc495478154"></a><a name="_Toc481589102"></a><a name="_Toc474142312"></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;line-height:115%;">40. 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;line-height:115%;"> 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_c5c49eba06644184811a1e5dc_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_003_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 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 lang=EN-US style="font-size:8.0pt;">Fee and
  commission income. Breakdown by origin (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 nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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;">2020</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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">Bills receivables</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>
 <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;">27</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;">39</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">Demand accounts</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>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">322</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">301</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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 lang=EN-US style="font-size:8.0pt;">Credit and
  debit cards and ATMs</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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;">2,089</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,862</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,690</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">Checks</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>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;">
  <td nowrap valign=bottom 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 lang=EN-US style="font-size:8.0pt;">Transfers and
  other payment orders</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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;">555</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">Insurance product
  commissions</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>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">Loan commitments
  given</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>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">187</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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 lang=EN-US style="font-size:8.0pt;">Other
  commitments and financial guarantees given</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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;">349</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">Asset management</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>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,026</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">986</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">Securities fees</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>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">301</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">Custody securities</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>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;">
  <td nowrap valign=bottom 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;">Other fees and
  commissions</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>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">556</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">599</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=53% style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,980</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">6,786</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">6,462</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="_Toc376950003"></a><a name="_Toc347755879"></a><a name="_Toc331260341"></a><a name="_Toc299032900"></a><a name="_Toc299031561"></a><a name="_Toc299029480"></a><a name="_Toc298431743"></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-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%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_9f6e4a91cef040e583d0edf53"></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_9f6e4a91cef040e583d0edf53_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_004_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 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 lang=EN-US style="font-size:8.0pt;">Fee and
  commission expense. Breakdown by origin (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=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;">2020</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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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 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;">5</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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 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;">1,130</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,566</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,403</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 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;">97</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">81</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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 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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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 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;">52</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 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 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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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;">519</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=55% style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,857</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,284</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,059</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-165</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_406"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;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_ffa354908c144d5595813fa8c"></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;line-height:115%;">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;line-height:115%;">, hedge
accounting and exchange differences, net</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, by source of the related items, in
the accompanying consolidated income statement is as follows:</font></font><a name="XBRL_TS_ffa354908c144d5595813fa8c_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_005_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:23.25pt;">
  <td colspan=5 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;">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:30.0pt;">
  <td width=64% 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=#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:30.0pt;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 width=9% 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 width=9% 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=9% 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>
 </tr>
<tr style="height:20.45pt;">
  <td width=64% 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=9% 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;">139</font></font></p>
  </td>
 <td nowrap width=9% 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;">186</font></font></p>
  </td>
 <td nowrap width=9% 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;">191</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=64% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  assets at amortized cost</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=#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=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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">106</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">44</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">37</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=64% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other
  financial assets and liabilities </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=#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=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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">141</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">155</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 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: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 lang=EN-US style="font-size:8.0pt;">&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;">777</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;">419</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;">640</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=64% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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: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=9% style="height:12.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=64% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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: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=9% style="height:12.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=64% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=9% style="height:12.0pt;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;">777</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;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;">419</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;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;">640</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=64% 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;">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:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=64% 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;">Reclassification
  of financial assets from fair value through other comprehensive 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=#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=9% style="height:12.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=64% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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: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=9% style="height:12.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=64% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=9% style="height:12.0pt;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;">208</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;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=9% style="height:12.0pt;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>
 </tr>
<tr style="height:22.5pt;">
  <td width=64% 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 financial assets and liabilities designated 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=9% 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;">56</font></font></p>
  </td>
 <td nowrap width=9% 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;">(98)</font></font></p>
  </td>
 <td nowrap width=9% 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;">139</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 lang=EN-US style="font-size:8.0pt;">Gains (losses)
  from hedge accounting, net </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 lang=EN-US style="font-size:8.0pt;">&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;">7</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;">55</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;">69</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=64% style="background:#5AC4C4;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:8.0pt;">Subtotal gains
  (losses) on financial assets and liabilities</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,187</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,136</font></b></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;">Exchange differences,
  net</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:8.0pt;">&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;">359</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;">581</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>
 </tr>
<tr style="height:12.6pt;">
  <td width=64% style="background:#5AC4C4;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;">Total</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.6pt;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;">1,546</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.6pt;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;">1,286</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.6pt;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;">1,148</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_be428b528864496880752bbef"></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_be428b528864496880752bbef_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_006_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:23.25pt;">
  <td colspan=5 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;">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=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=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;">2020</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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">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;">848</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">945</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;">354</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">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;">(28)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,336</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;">(253)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">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;">277</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">858</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">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;">128</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(190)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">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;">(79)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">239</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Other</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;">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:8.0pt;">(497)</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;">127</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=58% style="background:#5AC4C4;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;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,187</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,136</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"><br>
</font></font><a name="XBRL_TS_5f1ee8d326374e60b1797dbad"></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_5f1ee8d326374e60b1797dbad_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_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;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;">2020</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;">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>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=54% style="border:none;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;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="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;">269</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(85)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">(36)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(2)</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;">(89)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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;">88</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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 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="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;">37</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">(24)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=54% style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">270</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(1,187)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">790</font></b></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=#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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="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;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">68</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;">(151)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;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;">(36)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;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;">(135)</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;">156</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;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;">91</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;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;">203</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 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="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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=54% style="background:#5AC4C4;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;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=54% style="background:#5AC4C4;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;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">277</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(1,133)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">858</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-166</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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">
<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_b70d0294de41476c88c046071"></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, </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%;">2020, 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%;">, under the heading &#8220;Exchange
differences, net&quot; in the accompanying consolidated income statements
negative amounts of &#8364;57 million, &#8364;225 million and &#8364;113 million, respectively,
were recognized for transactions with foreign exchange trading derivatives.</font></font><a name="XBRL_TS_b70d0294de41476c88c046071_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font 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="_Toc376950008"></a><a name="_Toc347755881"></a><a name="_Toc331260343"></a><a name="_Toc299032902"></a><a name="_Toc299031563"></a><a name="_Toc299029483"></a><a name="_Toc298431745"></a><a name="XBRL_TS_b96b7b3e840f45d0b67e24e7b"></a><a name="_Toc457490050"></a><a name="_Toc495478156"></a><a name="_Toc481589104"></a><a name="_Toc474142314"></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;line-height:115%;">42. Other operating income and expense</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;line-height:115%;"> &nbsp;</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_b96b7b3e840f45d0b67e24e7b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_008_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=4 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 lang=EN-US style="font-size:8.0pt;">Other
  operating income (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td nowrap width=58% 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=#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: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;">2020</font></b></font></p>
  </td>
 <td width=14% 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=14% 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>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">Gains from
  sales of non-financial services</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;">244</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;">258</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;">458</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">Hyperinflation
  adjustment (*)</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;">94</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;">146</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;">120</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 operating
  income</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;">235</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;">351</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=58% style="background:#5AC4C4;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 width=14% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">639</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">929</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_8786e49a914d4c9f91f61d1c6"></a><a name="XBRL_FS_40ef5b00633847d89680ecc99"></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
2.2.19.</font></font><a name="XBRL_FS_40ef5b00633847d89680ecc99_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_8786e49a914d4c9f91f61d1c6_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_009_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;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=51% 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=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=#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;">2020</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>
 </tr>
<tr style="height:15.0pt;">
  <td width=51% 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=13% 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=12% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">124</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">107</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">292</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td 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 lang=EN-US style="font-size:8.0pt;">Contributions
  to guaranteed banks deposits funds </font></font></p>
  </td>
 <td width=13% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">800</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">746</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">670</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td 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;">Hyperinflation
  adjustment (*)</font></font></p>
  </td>
 <td width=13% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">348</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">538</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">494</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;">Other operating
  expense</font></font></p>
  </td>
 <td 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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;">
  <td nowrap width=51% style="background:#5AC4C4;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,662</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,943</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,021</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_FS_96ff9427bab74c7db224d1e2d"></a><a name="XBRL_TS_de2337c1bbcb4045b17987f2b"></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
2.2.19.</font></font><a name="XBRL_FS_96ff9427bab74c7db224d1e2d_bclEnd"></a><a name="XBRL_TS_de2337c1bbcb4045b17987f2b_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;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="_Toc457490051"></a><a name="XBRL_TS_49f8b6c8b1cf4d168b6368a94"></a><a name="_Toc495478157"></a><a name="_Toc481589105"></a><a name="_Toc474142315"></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;line-height:115%;">43. 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_49f8b6c8b1cf4d168b6368a94_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_009bis_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:23.25pt;">
  <td colspan=5 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;">Income and
  expense from insurance and reinsurance contracts (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td nowrap width=49% 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=12% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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: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;">2020</font></b></font></p>
  </td>
 <td width=13% 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=13% 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>
 </tr>
<tr style="height:12.75pt;">
  <td width=49% 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 from
  insurance and reinsurance contracts</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 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;">2,497</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;">2,890</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;">2,949</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Expense from
  insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap 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 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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,520)</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;">(1,751)</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;">(1,894)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=49% style="background:#5AC4C4;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;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=13% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">977</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=13% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_001a634b799f470e84104d674"></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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_408"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 contribution of each insurance product
to the Group&#180;s income for the years ended December 31, 2020, 2019 and 2018:</font></font><a name="XBRL_TS_001a634b799f470e84104d674_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_23_005dic_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=4 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 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;">2020</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=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>
 </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;">497</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=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;">682</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=57% 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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Individual</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;">439</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;">477</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;">486</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;">92</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=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;">56</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=57% 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;">Risk</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;">346</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;">361</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;">430</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;">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;">154</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;">196</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;">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;">26</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>
 </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;">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:8.0pt;">127</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;">157</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;">480</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=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;">373</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=57% 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;">Home insurance</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;">91</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;">90</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;">110</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other
  non-life insurance products</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;">389</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;">418</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 width=57% style="background:#5AC4C4;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">977</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=15% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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: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_588be52340344766af994867e"></a><a name="_Toc495478158"></a><a name="_Toc481589106"></a><a name="_Toc474142317"></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;line-height:115%;">44. 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="_Toc474142318"></a><a name="_Toc376972413"></a><a name="_Toc376950005"></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;line-height:115%;">44.1. 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_588be52340344766af994867e_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_37.51D_010_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 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 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=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 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=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;">2020</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>
 </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:8.0pt;">Wages and salaries</font></font></p>
  </td>
 <td width=12% 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;">3,610</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;">4,103</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;">4,031</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Social security costs</font></font></p>
  </td>
 <td 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">671</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">725</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">670</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:8.0pt;">Defined contribution
  plan expense</font></font></p>
  </td>
 <td width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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:8.0pt;">Defined benefit plan
  expense</font></font></p>
  </td>
 <td width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Other personnel
  expense</font></font></p>
  </td>
 <td 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">293</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">379</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">373</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=52% style="background:#5AC4C4;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;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=12% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">4,695</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,351</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,205</font></b></font></p>
  </td>
 </tr>
</table></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;"><a name="XBRL_TS_fa48a0a71f0c415eb9de3fb0f"></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%;">44.1.1. Share-based employee remuneration</font></b></font></h3>

<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%;">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, 2020, 2019
and 2018, corresponding to the remuneration plans based on equity instruments
in each year, amounted to &#8364;16 million, &#8364;31 million and &#8364;29 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%;">&nbsp;</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 2020,
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 November 29, 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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_409"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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>

<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, 13, 2020 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 10, 2020.</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 the settlement and
payment scheme indicated, during 2020, a total amount of 5,754,101 BBVA shares
corresponding to the Upfront Portion of 2019 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 2016, during 2020 a total amount of 4,220,900
BBVA shares corresponding to the Deferred Component of 2016 Variable
Remuneration has been delivered to the Identifies Staff. This amount has been
subject to a downward adjustment due to multi-year performance indicators
evaluation.</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 2020 a total amount of 3,085,476 euros has been delivered to the
Identified Staff as updates of the corresponding shares of the Deferred
Component of 2016 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 IFIC and
BBVA Brazil Banco de Investimento have identified respectively 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%;">In BBVA IFIC, resulting cash
portions of the Deferred Component of Annual Variable Remuneration and subject
to multi-year performance indicators, finally delivered, shall be updated
following the Consumer Price Index (CPI) measured as year-on-year price
variation.</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-169</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_410"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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%;">In BBVA Brasil Banco de
Investimento, both the cash amounts and share amounts of the Deferred Component
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 2020 a total of 18,879 BBVA shares corresponding
to the Upfront Portion of 2019 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 2020 there
have been delivered to this staff in Portugal and Brazil a total of 5,083 BBVA
shares corresponding to the first third of the Deferred Component of 2018
Annual Variable Remuneration, as well as 1,323 euros as adjustments for
updates. A total of 9,558 BBVA shares corresponding to the second third of the
Deferred Component of 2017 Annual Variable Remuneration and 4,873 euros as
adjustments for updates; and a total of 12,142 BBVA shares corresponding to the
last third of the Deferred Component of 2016 Annual Variable Remuneration and 8,873
euros as adjustments for updates.</font></font><a name="XBRL_TS_fa48a0a71f0c415eb9de3fb0f_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>

<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_f34a342508b748acbf3a11f93"></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%;">44.2. 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_f34a342508b748acbf3a11f93_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_014_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 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 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=51% 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 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;">2020</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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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;">Technology and
  systems</font></font></p>
  </td>
 <td nowrap width=13% 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=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;">1,088</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;">1,060</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;">1,000</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;">Communications </font></font></p>
  </td>
 <td nowrap width=13% 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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">193</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;">Advertising</font></font></p>
  </td>
 <td nowrap width=13% 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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <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;">265</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;">Property, fixtures
  and materials</font></font></p>
  </td>
 <td nowrap width=13% 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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">865</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 lang=EN-US style="font-size:8.0pt;">Taxes other
  than income tax</font></font></p>
  </td>
 <td width=13% 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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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 lang=EN-US style="font-size:8.0pt;">Surveillance
  and cash courier services</font></font></p>
  </td>
 <td width=13% 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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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;">Other expense</font></font></p>
  </td>
 <td nowrap width=13% 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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">885</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;">921</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=51% style="background:#5AC4C4;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;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,105</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,418</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,816</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="_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_125eb751c75147ccb4e688e6b"></a><a name="_Toc495478159"></a><a name="_Toc481589107"></a><a name="_Toc474142321"></a><a name="_Toc457490052"></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;line-height:115%;">45. 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;line-height:115%;"> 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 for the years ended December 2020, 2019 and 2018 is as
follows:</font></font><a name="XBRL_TS_125eb751c75147ccb4e688e6b_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_37.51D_015_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 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 lang=EN-US style="font-size:8.0pt;">Depreciation
  and amortization (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td nowrap width=43% 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=#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=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;">Notes</font></b></font></p>
  </td>
 <td width=14% 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;">2020</font></b></font></p>
  </td>
 <td width=14% 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=14% 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>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">Tangible assets</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;">17</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;">781</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;">876</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;">533</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=43% 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;">For own use</font></font></p>
  </td>
 <td nowrap width=15% 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=#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:12.75pt;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;">453</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">523</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">529</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=43% 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;">Right-of-use assets</font></font></p>
  </td>
 <td nowrap width=15% 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=#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:12.75pt;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;">324</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">349</font></font></p>
  </td>
 <td nowrap width=14% 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=#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:12.75pt;">
  <td width=43% 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;">Investment
  properties and other</font></font></p>
  </td>
 <td nowrap width=15% 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=#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:12.75pt;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=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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">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=#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>
 </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;">Intangible assets</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;">18.2</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;">507</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;">510</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;">500</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=43% style="background:#5AC4C4;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=15% style="background:#5AC4C4;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=14% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,288</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,386</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">1,034</font></b></font></p>
  </td>
 </tr>
</table></div>



<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;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_20437b6f7d4440efab452d366"></a><a name="_Toc495478160"></a><a name="_Toc481589108"></a><a name="_Toc474142322"></a><a name="_Toc457490053"></a><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-AU style="font-size:11.0pt;line-height:115%;">46. Provisions or reversal of provisions</font></b></font></h1>

<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, </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;line-height:115%;">2020, 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%;">, the net provisions recognized in this income statement line item
were as follows:</font></font><a name="XBRL_TS_20437b6f7d4440efab452d366_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_016_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 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 lang=EN-US style="font-size:8.0pt;">Provisions or
  reversal of provisions (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td nowrap width=58% 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=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=#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: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;">2020</font></b></font></p>
  </td>
 <td 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=#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: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>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">Pensions and
  other post employment defined benefit obligations</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 </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;">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;">213 </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;">125 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">Commitments and
  guarantees given (*)</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>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">96 </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;">(27)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">Pending legal
  issues and tax litigation</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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;">208 </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;">171 </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;">135 </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 style="font-size:8.0pt;">Other provisions</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>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">133 </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;">162 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=58% style="background:#5AC4C4;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;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">746</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">614</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_046091a1b45e469895f6d81af"></a><a name="XBRL_TS_a2fc558694364b028331d59c0"></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;&#160;&#160;&#160; In
2020, the amount of commitments and guarantees given includes the negative
impact of the update of the macroeconomic scenario following the COVID-19
pandemic (see Notes 1.5 and 7.2).</font></font></p>

<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;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_c6a65f6f87754c2c99fcc0582"></a><a name="_Toc495478161"></a><a name="_Toc481589109"></a><a name="_Toc474142323"></a><a name="_Toc457490054"></a><a name="XBRL_FS_046091a1b45e469895f6d81af_bclEnd"></a><a name="XBRL_TS_a2fc558694364b028331d59c0_bclEnd"></a></h1>
<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_411"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<h1 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 color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">47. Impairment or reversal of impairment on
financial assets not measured at fair value through profit or loss</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:11.0pt;line-height:115%;"> or net gains by modification</font></b></font></h1>

<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 or net gains by modification by
the nature of those assets in the accompanying consolidated income statements
is as follows:</font></font><a name="XBRL_TS_c6a65f6f87754c2c99fcc0582_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_017_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:25.5pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;height:25.5pt;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 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:23.25pt;">
  <td nowrap width=56% 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=11% 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=11% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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 width=11% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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: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>
 </tr>
<tr style="height:34.5pt;">
  <td width=56% style="border:none;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.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 - Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:34.5pt;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 width=11% 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 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;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 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: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 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=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">Financial
  assets at amortized cost (*)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=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;">5,160</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,470</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,680</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;"><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:12.75pt;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;">7.2.5</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(339)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=11% style="height:12.75pt;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;">(589)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="background:#5AC4C4;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:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,179</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,552</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">3,681</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_96d71ab4a5e24ff4b4d860ea5"></a><a name="XBRL_TS_5a12c66ddaf1477c8a2a557fe"></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;&#160;&#160;&#160;&#160;&#160; In
2020, the amount includes the negative impact of the update of the
macroeconomic scenario following the COVID-19 pandemic (see Notes 1.5 and 7.2).</font></font><a name="XBRL_FS_96d71ab4a5e24ff4b4d860ea5_bclEnd"></a><a name="XBRL_TS_5a12c66ddaf1477c8a2a557fe_bclEnd"></a></p>

<h1 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 color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">48. Impairment or reversal of
impairment of investments in joint ventures and associates</font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_efdc27e6890542539b354c474"></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;Impairment or reversal of the impairment of
investments in joint ventures or associates&quot; resulted in a loss of 190 and
46 million euros for the years ended December 31, 2020 and 2019. There was no
impairment recorded for the year ended December 31, 2018 (see Note 16.3).</font></font><a name="XBRL_TS_efdc27e6890542539b354c474_bclEnd"></a></p>

<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;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_bf9d1e5fceda40ee92d934b2f"></a><a name="_Toc495478162"></a><a name="_Toc481589110"></a><a name="_Toc474142324"></a><a name="_Toc457490055"></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:11.0pt;line-height:115%;">49. Impairment or reversal of impairment on
non-financial assets</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:11.0pt;line-height:115%;"> &nbsp;</font></b></font></h1>

<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 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_bf9d1e5fceda40ee92d934b2f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_018_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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 or
  reversal of impairment on non-financial assets (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:37.5pt;">
  <td nowrap width=34% style="border:none;border-bottom:solid black 1.0pt;height:37.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=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: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;">Notes</font></b></font></p>
  </td>
 <td width=17% 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;">2020</font></b></font></p>
  </td>
 <td width=16% 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;">2019</font></b></font></p>
  </td>
 <td width=16% 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;">2018</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;">Tangible assets</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;">17</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;">125</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;">94</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;">4</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Intangible assets</font></font></p>
  </td>
 <td nowrap width=17% 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=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;">19</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;">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=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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Others&#160;&#160; </font></font></p>
  </td>
 <td nowrap width=17% 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=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;">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=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=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;">50</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="background:#5AC4C4;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;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=17% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">153</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">137</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=left style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:left;"><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><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>

<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;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_6b5ca4b6eba144e3a1ffed314"></a><a name="_Toc495478164"></a><a name="_Toc481589112"></a><a name="_Toc474142326"></a><a name="_Toc457490057"></a></h1>
<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-171</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_412"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<h1 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 color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">50. Gains
(losses) from non-current assets and disposal groups classified as held for
sale not qualifying as discontinued operations</font></b></font></h1>

<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
items included in the balance under this heading in the accompanying
consolidated income statements are as follows:</font></font><a name="XBRL_TS_6b5ca4b6eba144e3a1ffed314_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51D_020_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:31.5pt;">
  <td colspan=6 width=100% style="background:#E9E9E9;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;">Gains
  (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:23.25pt;">
  <td nowrap width=51% 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 nowrap width=9% 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=#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: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;">Notes</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=#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 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=#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: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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 lang=EN-US style="font-size:8.0pt;">Gains on sale
  of real estate</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 nowrap width=10% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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;">116</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;">86</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;">126</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 lang=EN-US style="font-size:8.0pt;">Impairment of
  non-current assets held for sale</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 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=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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:22.5pt;">
  <td width=51% 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 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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;">431</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;">10</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;">894</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=51% 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 on sale
  of equity instruments classified as non-current assets held for sale</font></font></p>
  </td>
 <td 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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;">-</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;">-</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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=51% style="background:#5AC4C4;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;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;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 nowrap width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_e6604339a6df40b3a542cf5b0"></a><a name="XBRL_TS_57cb5f32ccc74624ad3e5a783"></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;&#160;&#160;&#160;&#160; The
</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%;">variation</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%;"> in year 2020 is mainly due to the transfer of half plus one share
in BBVA Allianz Seguros y Reaseguros, S.A. (see Note 3). The </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%;">variation</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%;"> 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_e6604339a6df40b3a542cf5b0_bclEnd"></a><a name="XBRL_TS_57cb5f32ccc74624ad3e5a783_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_b49f082ba3e84f96a28f14141"></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;line-height:115%;">51.
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%;">The mapping of the heading cash and equivalents
in the consolidated statement of cash flows has been modified, and this
modification is not relevant to the consolidated condensed interim financial
statements as a whole. In order for the information to be comparable, the
information for the 2019 and 2018 financial years has been restated.</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 variation between
2020, 2019 and 2018 of the financial liabilities from financing activities is
the following:</font></font><a name="XBRL_TS_b49f082ba3e84f96a28f14141_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=9 nowrap width=100% style="background:#E9E9E9;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. December 2020 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=27% 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 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>
 <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=5 width=45% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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, 2020</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td valign=top width=27% 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:8.0pt;">&nbsp;</font></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: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: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;">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: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:8.0pt;">Disposals by companies held for sale (**)</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: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;">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: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;">Fair value changes</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=27% style="border:none;height:20.25pt;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: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=#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>
 <td width=10% style="border:none;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">3,003 </font></font></p>
  </td>
 <td width=9% style="border:none;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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: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=#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: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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">(3,160)</font></font></p>
  </td>
 <td width=9% style="border:none;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">(2,026)</font></font></p>
  </td>
 <td width=9% style="border:none;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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: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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">61,780 </font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=27% style="height:24.75pt;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:8.0pt;">Of which:
  Issuances of subordinated liabilities (*) </font></i></font></p>
  </td>
 <td 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=#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>
 <td 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(8)</font></i></font></p>
  </td>
 <td 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=#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: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=#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: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=#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: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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(419)</font></i></font></p>
  </td>
 <td 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=#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: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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">17,248 </font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:0pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_58b72aff96b94362b0183cf48"></a><a name="XBRL_FS_85684b251615436394d3a5284"></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;&#160;&#160;&#160; Additionally,
there are &#8364;12 million of issuances of subordinated liabilities as of December
2020 (see Note 22 and Appendix VI). The subordinated issuances of BBVA Paraguay
and of the BBVA USA sale perimeter as of December 31, 2020 are recorded in the
heading &quot;Liabilities included in disposal groups classified as held for
sale&quot; of the consolidated balance which amount to &#8364;37 and &#8364;735 million,
respectively.</font></font><a name="XBRL_FS_85684b251615436394d3a5284_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.25pt;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_b2ede7c21184413eb6505fdfc"></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;&#160;&#160;&#160;&#160; The
amount is mainly due to the sale of the stake in BBVA USA (see Note 3).</font></font><a name="XBRL_FS_b2ede7c21184413eb6505fdfc_bclEnd"></a><a name="XBRL_TS_58b72aff96b94362b0183cf48_bclEnd"></a></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;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. December 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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, 2018</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=37% 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=34% 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=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=34% 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=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=#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=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=#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=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=#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=34% 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=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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">17,635 </font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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;">-</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-bottom:6.0pt;margin-left:21.25pt;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_3514f2957c25465e863ccc6c4"></a><a name="XBRL_TS_e38f53d2f8fe4011b2de7fd8e"></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;&#160;&#160;&#160;&#160; Additionally,
there are &#8364;384 million of issuances of subordinated liabilities as of December
2019 (see Note 22 and Appendix VI). Subordinated liabilities corresponding to
BBVA Paraguay as of December 2019 were recorded in the heading
&quot;Liabilities included in disposal groups classified as held for sale&quot;
amounting to &#8364;40 million.</font></font><a name="XBRL_FS_3514f2957c25465e863ccc6c4_bclEnd"></a><a name="XBRL_TS_e38f53d2f8fe4011b2de7fd8e_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-172</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_413"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_51_003_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:16.5pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;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. December 2018 (Millions
  of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=37% 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, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td valign=top 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: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=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=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=#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:13.5pt;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;">61,649 </font></font></p>
  </td>
 <td 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=#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:13.5pt;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;">(1,828)</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;">(862)</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;">61,112 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=34% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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:13.5pt;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;">17,443 </font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:13.5pt;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;">(694)</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;">29 </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;">17,635 </font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:21.25pt;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_c0bbfaa0d67a4eaa878254442"></a><a name="XBRL_TS_50cc06802ca844d2ba325f1bc"></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;&nbsp;</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;&#160;&#160;&#160; Additionally, there are subordinated deposits for 411
million euros as of December 31, 2018 (see Note 22 and Annex VI). The
subordinated issues of BBVA Chile as of December 31, 2017 are recorded under
the line &quot;Liabilities included in disposal groups of items that have been
classified as held for sale&quot; on the consolidated balance sheet with a
balance of 574 million euros.</font></font><a name="XBRL_FS_c0bbfaa0d67a4eaa878254442_bclEnd"></a><a name="XBRL_TS_50cc06802ca844d2ba325f1bc_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="_Toc376950023"></a><a name="_Toc347755890"></a><a name="_Toc299032910"></a><a name="_Toc299031571"></a><a name="_Toc299029491"></a><a name="_Toc298431754"></a><a name="_Toc331260352"></a><a name="XBRL_TS_4d91bb1b5808464e84ceb10ce"></a><a name="_Toc495478166"></a><a name="_Toc481589114"></a><a name="_Toc474142328"></a><a name="_Toc457490059"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">52. 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, </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;line-height:115%;">2020, 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%;">with their respective auditors and other audit entities are as
follows:</font></font><a name="XBRL_TS_4d91bb1b5808464e84ceb10ce_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;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:24.9pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:24.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=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:24.9pt;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;">2020</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:24.9pt;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=14% style="border:none;border-bottom:solid black 1.0pt;height:24.9pt;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>
 </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;">27.7</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;">28.1</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;">26.1</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;">1.3</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;">1.5</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;">0.2</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;">-</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;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_806c19311dfc4dfabfd372abb"></a><a name="XBRL_FS_786eff37ae9347d9907cb57df"></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;&#160;&#160;&#160;&#160;&#160; Including
fees pertaining to annual legal audits (&#8364;23.6, &#8364;24.1 and &#8364;22.4 million as of
December 31, 2020, 2019 and 2018, respectively).</font></font><a name="XBRL_FS_786eff37ae9347d9907cb57df_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_dcf9753eba0c4fb6baef2ee0b"></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;&#160;&#160;&#160;&#160; Regardless
of the billed year.</font></font><a name="XBRL_FS_dcf9753eba0c4fb6baef2ee0b_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%;">In the years ended December 31, </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;line-height:115%;">2020, 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%;">, certain entities
in the BBVA Group contracted other services (other than audits) as follows:</font></font><a name="XBRL_TS_806c19311dfc4dfabfd372abb_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;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;">2020</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>
 </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;">0.4</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>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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:12.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_aea8a5c9192a48fcb0a03fe04"></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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_414"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;"><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_aea8a5c9192a48fcb0a03fe04_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;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;">2020</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>
 </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;">6.5</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>
 </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;">5.4</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>
 </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;">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>
 </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;">0.3</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;">0.9</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;">0.8</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>
 </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_e12d10945c4a474588cae2ab8"></a><a name="XBRL_FS_de7d6ad18c5c45888c604a9ec"></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;
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_de7d6ad18c5c45888c604a9ec_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_e12d10945c4a474588cae2ab8_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_09124f8945c34c32a0cc695b2"></a><a name="_Toc495478167"></a><a name="_Toc481589115"></a><a name="_Toc474142329"></a><a name="_Toc457490060"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">53. Related-party transactions</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 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, </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;line-height:115%;">2020, 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%;">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="_Toc474142330"></a><a name="_Toc376972427"></a><a name="_Toc376950019"></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%;">53.1. Transactions with significant shareholders</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 December 31, </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;line-height:115%;">2020, 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 were no
shareholders considered significant (see Note 26).</font></font><a name="XBRL_TS_09124f8945c34c32a0cc695b2_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_b418dc91e8fd4ae9b1d9ab5e9"></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%;">53.2
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_b418dc91e8fd4ae9b1d9ab5e9_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;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:25.5pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=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:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=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: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;">2020</font></b></font></p>
  </td>
 <td width=14% 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=14% 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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=#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;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font 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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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;">148</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;">26</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;">132</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=45% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to customers</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;">1,743</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;">1,682</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=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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=45% style="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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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;">-</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</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</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;">791</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>
 </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=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;">-</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=45% style="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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial guarantees
  given</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;">132</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;">166</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;">152</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;">1,400</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>
 </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;">Loan commitments
  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;">11</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>
 </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_38c548de1eea404c87aaf795c"></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_38c548de1eea404c87aaf795c_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;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;">2020</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;">2019</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;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=62% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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;">20</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;">
  <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;">1</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;">2</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;">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;">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 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;">34</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
</table></div>




<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-174</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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">
<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_d103a63b2a39484097b657dfc"></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_d103a63b2a39484097b657dfc_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_c10b61388edb4e329227c8790"></a><a name="_Toc474142332"></a><a name="_Toc376972429"></a><a name="_Toc376950021"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">53.3.
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;"><a name="_Toc474142333"></a><a name="_Toc376972430"></a><a name="_Toc376950022"></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 and nature of the
transactions carried out with members of the Board of Directors and Senior
Management of BBVA, as well as their respective related parties is given below.
All of these transactions belong to the Bank's normal course of business, are
not material and have being 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, 2020, there were
no loans or credits granted by the Group&#8217;s entities to the members of the Board
of Directors. As of December 2019 and 2018, the amount availed against the
loans and credits granted by the Group&#8217;s entities to the members of the Board
of Directors amounted to &#8364;607 and &#8364;611 thousand, respectively. On those same
dates, there were no loans or credits 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, 2020, 2019 and
2018, the amount availed against the loans granted by the Group&#8217;s entities to
the members of Senior Management (excluding executive directors) amounted to
&#8364;5,349, &#8364;4,414 and &#8364;3,783 thousand, respectively. On those same dates, the
amount availed against the loans granted by the Group&#8217;s entities to parties
related to members of Senior Management amounted to &#8364;580, &#8364;57 and &#8364;69 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, 2020, 2019 and
2018 no guarantees had been granted to any member of the Board of Directors or
their related parties.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font 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 availed against
guarantees arranged with members of Senior Management as of December 31, 2020,
2019 and 2018 amounted to &#8364;10, &#8364;10, and &#8364;38 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, 2020 and 2019,
the amount availed against guarantees and commercial loans arranged with
parties related to the members of the Bank&#8217;s Board of Directors and Senior
Management amounted to &#8364;25 thousand, on both dates. As of December 31, 2018, no
guarantees and commercial loans have been granted to parties related 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%;">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;"><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. 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, </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%;">2020, 2019 and
2018, the Group has not carried out operations with other related parties that
do not belong to the line of business or ordinary traffic of its activity, that
are not carried out under normal market conditions and that are not of low
relevance; understanding by such those whose information is not necessary to
give the true image of the assets, the financial situation and the results,
consolidated, of the BBVA Group.</font></font><a name="XBRL_TS_c10b61388edb4e329227c8790_bclEnd"></a></p>

<p style="border:none;margin:0cm;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_6a3d0f9d30e04c73909fa732c"></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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_416"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><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;">54. 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:35.7pt;margin-right:0cm;margin-top:10.0pt;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:9.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:9.0pt;">Remuneration received by non-executive directors in
2020</font></b></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 remuneration paid to
non-executive members of the Board of Directors during the 2020 financial year
is indicated below, individualized and itemized:</font></font><a name="XBRL_TS_6a3d0f9d30e04c73909fa732c_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_54_001_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=10 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 lang=EN-US style="font-size:8.0pt;">Remuneration
  for non-executive directors (thousands of euro)</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:7.0pt;">&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=center style="border:none;margin:0cm;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=ES-TRAD 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=center style="border:none;margin:0cm;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=ES-TRAD 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=center style="border:none;margin:0cm;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=ES-TRAD 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=center style="border:none;margin:0cm;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=ES-TRAD 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=center style="border:none;margin:0cm;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=ES-TRAD 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=center style="border:none;margin:0cm;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;">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=center style="border:none;margin:0cm;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=ES-TRAD 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=center style="border:none;margin:0cm;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=ES-TRAD style="font-size:7.0pt;">Other positions <sup>(1)</sup></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=center style="border:none;margin:0cm;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=ES-TRAD style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=10% style="border:none;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 lang=ES-TRAD style="font-size:7.0pt;">Jos&#233; Miguel Andr&#233;s
  Torrecillas </font></font></p>
  </td>
 <td width=10% style="border:none;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">129</font></font></p>
  </td>
 <td width=10% style="border:none;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">111</font></font></p>
  </td>
 <td width=10% style="border:none;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">66</font></font></p>
  </td>
 <td width=10% style="border:none;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">36</font></font></p>
  </td>
 <td width=10% style="border:none;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">115</font></font></p>
  </td>
 <td width=10% style="border:none;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">50</font></font></p>
  </td>
 <td width=10% style="border:none;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">507</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 lang=ES-TRAD 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">165</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 lang=ES-TRAD style="font-size:7.0pt;">107</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">567</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 lang=ES-TRAD style="font-size:7.0pt;">Ra&#250;l Galamba de
  Oliveira <sup>(2)</sup></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 lang=ES-TRAD style="font-size:7.0pt;">107</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">71</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">32</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">211</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 lang=ES-TRAD 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">129</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">66</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">46</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">349</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 lang=ES-TRAD 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">129</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">43</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD 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 lang=ES-TRAD 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">129</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">66</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">43</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">238</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 lang=ES-TRAD 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">167</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">46</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">342</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 lang=ES-TRAD 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">129</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">66</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">43</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">238</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">Juan Pi Llorens
  </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 lang=ES-TRAD style="font-size:7.0pt;">129</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD 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 lang=ES-TRAD style="font-size:7.0pt;">214</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=ES-TRAD 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 lang=ES-TRAD style="font-size:7.0pt;">46</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 lang=ES-TRAD style="font-size:7.0pt;">43</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 lang=ES-TRAD style="font-size:7.0pt;">80</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 lang=ES-TRAD style="font-size:7.0pt;">512</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 lang=ES-TRAD style="font-size:7.0pt;">Ana Revenga
  Shanklin <sup>(2)</sup></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 lang=ES-TRAD style="font-size:7.0pt;">97</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">71</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">168</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 lang=ES-TRAD 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">167</font></font></p>
  </td>
 <td width=10% style="height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">107</font></font></p>
  </td>
 <td width=10% style="height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">46</font></font></p>
  </td>
 <td width=10% style="height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">449</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 lang=ES-TRAD style="font-size:7.0pt;">Carlos Salazar
  Lomel&#237;n <sup>(2)</sup></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 lang=ES-TRAD style="font-size:7.0pt;">97</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">29</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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 lang=ES-TRAD style="font-size:7.0pt;">125</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">Jan Verplancke </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 lang=ES-TRAD style="font-size:7.0pt;">129</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD style="font-size:7.0pt;">&nbsp;</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=ES-TRAD 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 lang=ES-TRAD style="font-size:7.0pt;">29</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=ES-TRAD 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 lang=ES-TRAD style="font-size:7.0pt;">43</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=ES-TRAD 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 lang=ES-TRAD style="font-size:7.0pt;">200</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">Total <sup>(3)</sup></font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">1,588</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">611</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">431</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">606</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">250</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">301</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">161</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">130</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:7.0pt;">4,078</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:21.25pt;margin-right:0pt;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_c1afa0dbc1af47deb07b95d3c"></a><a name="XBRL_FS_16aa0c3e4fa24b4e96ee6d968"></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)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:7.0pt;line-height:115%;">Amounts received during the 2020 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.</font></font><a name="XBRL_FS_16aa0c3e4fa24b4e96ee6d968_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:21.25pt;margin-right:0pt;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_3793271c23884aacb546480c3"></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)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:7.0pt;line-height:115%;">Directors appointed by the General Shareholders&#8217; Meeting held on
13&nbsp;March&nbsp;2020. Remunerations paid based on the date on which the
position was accepted.</font></font><a name="XBRL_FS_3793271c23884aacb546480c3_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:21.25pt;margin-right:0pt;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_bf67d2597dcd4f869df1da55e"></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%;">(3)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:7.0pt;line-height:115%;">Includes remuneration paid for membership on the Board and its
various committees during the 2020 financial year. The composition of these
committees was amended by resolution of the Board of Directors dated 29 April
2020.</font></font><a name="XBRL_FS_bf67d2597dcd4f869df1da55e_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
2020 financial year, &#8364;95 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: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,
Tom&#225;s Alfaro Drake and Carlos Loring Mart&#237;nez de Irujo, who left their roles as
directors on 13 March 2020, received a total of &#8364;54&nbsp;thousand and
&#8364;111&nbsp;thousand, respectively, for their membership of the Board and of the
various Board Committees during the first quarter of the financial year. The
Bank has also paid out a total of &#8364;18 thousand in casualty and healthcare
insurance premiums.</font></font></p>

<p style="border:none;margin:0cm;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 face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:9.0pt;">&#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 color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:9.0pt;">Remuneration</font></b></font><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;"> received by executive directors in 2020</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
2020 financial year, the executive directors received the amount of the Annual
Fixed Remuneration corresponding to such financial year, established for each
director in the Remuneration Policy for BBVA Directors, which was approved by the
General Shareholders&#8217; Meeting held on 15&nbsp;March&nbsp;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 received their Annual Variable Remuneration (&#8220;AVR&#8221;) for
the 2019 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 2020 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=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<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-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size: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;&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;">40% of the 2019 Annual Variable Remuneration corresponding to
executive directors was paid in the 2020 financial year (the Upfront Portion);
in equal parts in cash and BBVA shares.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size: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;&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 Annual Variable Remuneration has been
deferred (40% in cash and 60% in shares) for a period of five years (the
Deferred Portion), and its accrual and payment will be subject to compliance
with a series of multi-year indicators. The application of these indicators,
calculated over the first three years of deferral, may lead to the reduction or
even forfeit of the Deferred Portion, even in its entirety, but in no event may
it be increased. Provided that the relevant conditions are met, the resulting
amount will then be paid, in cash and in BBVA shares, according to the
following payment schedule: 60% in 2023, 20% in 2024 and the remaining 20% in
2025.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size: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;&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;">All of the shares delivered to the executive directors as AVR,
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 the shares
transferred to honor the payment of taxes accruing on the shares received.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size: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;&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 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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size: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;&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;">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-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size: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;&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;">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 (&quot;malus&quot; and
&quot;clawback&quot;).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size: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;&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 variable component of the remuneration for executive directors
corresponding to the 2019 financial year 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: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;">In 2020, the
Group Executive Chairman and the Chief Executive Officer likewise received the
deferred portion of their Annual Variable Remuneration due that year for the
2016 financial year (50% of the Annual Variable Remuneration), after being
adjusted downwards following the results of the multi-year performance
indicators. This remuneration was paid in equal parts in cash and in shares,
together with the corresponding update in cash, thus concluding the payment of
the Annual Variable Remuneration to the executive directors 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;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 remunerations paid to executive directors during
the 2020 financial year are indicated below, individualized and itemized:</font></font><a name="XBRL_TS_c1afa0dbc1af47deb07b95d3c_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:22.5pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;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;">Annual Fixed
  Remuneration for 2020 (thousands of euro)</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;"> &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td colspan=2 width=70% style="border:none;border-bottom:solid black 1.0pt;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:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=30% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 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>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=2 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 lang=ES-TRAD style="font-size:8.0pt;">Group Executive
  Chairman</font></font></p>
  </td>
 <td width=30% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">2,453</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=2 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 lang=ES-TRAD style="font-size:8.0pt;">Chief Executive
  Officer </font></font></p>
  </td>
 <td width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">2,179</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td width=30% style="background:#5AC4C4;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 lang=ES-TRAD style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=30% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">4,632</font></b></font></p>
  </td>
 </tr>
<tr height=0>
  <td width=40% style="border:none;">&nbsp;</td>
 <td width=30% style="border:none;">&nbsp;</td>
 <td width=30% 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_bf5aebc5a23b400b94e091de6"></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;">In addition, in
accordance with the current Remuneration Policy for BBVA Directors, during the
2020 financial year, the Chief Executive Officer has received &#8364;654 thousand for
the cash in lieu of pension item (equivalent to 30% of his Annual Fixed
Remuneration)&#8212;given that he does not have a retirement pension (see the Pension
commitments section of this Note)&#8212;and &#8364;600 thousand for the mobility allowance
item.</font></font><a name="XBRL_TS_bf5aebc5a23b400b94e091de6_bclEnd"></a></p>

<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:12.75pt;">
  <td colspan=3 width=100% style="background:#D9D9D9;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;">2019 Annual
  Variable Remuneration (Upfront payment)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td rowspan=2 width=40% 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=#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=30% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">In cash <sup>(1)</sup> </font></b></font></p>
  </td>
 <td rowspan=2 width=30% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">In shares <sup>(1)</sup></font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=30% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">(thousands of euro)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Group Executive Chairman </font></font></p>
  </td>
 <td width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">636</font></font></p>
  </td>
 <td width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">126,470</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Chief Executive Officer</font></font></p>
  </td>
 <td width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">571</font></font></p>
  </td>
 <td width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">113,492</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td width=30% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">1,207</font></b></font></p>
  </td>
 <td width=30% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">239,962</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:32.05pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-17.85pt;"><a name="XBRL_FS_a0adf1e2966a4f9d808c89e4d"></a><a name="XBRL_TS_7aba02c95b944a74bd8f9ca20"></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)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;line-height:115%;">Remuneration corresponding to the Upfront Portion (40%) of the AVR
for the 2019 financial year (50% in cash and 50% in BBVA shares).</font></font><a name="XBRL_FS_a0adf1e2966a4f9d808c89e4d_bclEnd"></a><a name="XBRL_TS_7aba02c95b944a74bd8f9ca20_bclEnd"></a></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:12.75pt;">
  <td colspan=3 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 lang=EN-US style="font-size:8.0pt;">2016 Deferred
  Annual Variable Remuneration (Deferred Portion)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td rowspan=2 width=36% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=32% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">In cash <sup>(1)</sup></font></b></font></p>
  </td>
 <td rowspan=2 width=32% 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=ES-TRAD style="font-size:8.0pt;">In shares <sup>(1)</sup></font></b></font><sup><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:10.0pt;"> &nbsp;</font></font></sup></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=32% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;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=ES-TRAD style="font-size:8.0pt;">(thousands of euro)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=36% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Group Executive
  Chairman </font></font></p>
  </td>
 <td width=32% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">656</font></font></p>
  </td>
 <td width=32% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">89,158</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=36% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Chief Executive
  Officer</font></font></p>
  </td>
 <td width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">204</font></font></p>
  </td>
 <td width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">31,086</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=36% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td width=32% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">861</font></b></font></p>
  </td>
 <td width=32% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">120,244</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:32.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><a name="XBRL_TS_92a9f3d53815452488121a7b5"></a><a name="XBRL_FS_9afec2f9526340c5905f8dea1"></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)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;line-height:115%;">Remunerations corresponding to deferred AVR for the 2016 financial
year (50% of the AVR for 2016, in equal parts in cash and shares), payment of
which was due in 2020, together with its corresponding update in cash, and
after a downwards adjustment following the results of the multi-year
performance indicators. In the case of both the Chairman and Chief Executive
Officer, this remuneration is associated with their previous positions.</font></font><a name="XBRL_FS_9afec2f9526340c5905f8dea1_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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_418"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 during the 2020
financial year, including insurance and other premiums, amounting to a total of
&#8364;360&nbsp;thousand of which &#8364;228&nbsp;thousand corresponds to the Group
Executive Chairman and &#8364;132&nbsp;thousand to the Chief Executive Officer. </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;">As Head of
Global Economics &amp; Public Affairs (Head of GE&amp;PA), former executive
director Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo, who left his role of
director on 13 March 2020, received &#8364;168&nbsp;thousand as fixed remuneration;
&#8364;174&nbsp;thousand and 28,353&nbsp;BBVA shares corresponding to the Upfront
Portion (40%) of the AVR for the 2019 financial year and to the Deferred
Portion of the AVR for the 2016 financial year, payment of which was due in the
2020 financial year, including the corresponding cash update; as well as
&#8364;33&nbsp;thousand as remuneration in kind.</font></font></p>

<p style="border:none;margin:0cm;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 face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:9.0pt;">&#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 color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:9.0pt;">Remuneration</font></b></font><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;"> received by Senior Management in 2020</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
2020 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: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 received the Annual Variable Remuneration for the 2019 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 2020 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;">Under this
settlement and payment system, the same rules as set out above for executive
directors are applicable. These include, among other things: 40% of the Annual
Variable Remuneration, in equal parts cash and in BBVA shares, will be paid in
the financial year following the year to which it corresponds (the Upfront
Portion), 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 Deferred Portion),
applying the same payment schedule established for executive directors. The
shares received will be withheld for a one year lock-up period (this will not
apply to those shares transferred to honor 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 the 2019 financial year
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 for this group applicable in 2016
and in application of the settlement and payment system of the Annual Variable
Remuneration for said financial year, the members of Senior Management who were
beneficiaries of such remuneration received in 2020 the deferred portion of the
Annual Variable Remuneration for the 2016 financial year, after being adjusted
downwards following the results of the multi-year performance indicators. This
remuneration has been paid in equal parts in cash and in shares, along with its
update in cash, concluding the payment of this remuneration to the members of
Senior Management 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;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 2020 financial year
to all members of Senior Management as a whole, who held that position as of
31&nbsp;December, 2020 (15&nbsp;members, excluding executive directors), is
indicated and itemized below:</font></font><a name="XBRL_TS_92a9f3d53815452488121a7b5_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:12.75pt;">
  <td colspan=2 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 lang=EN-US style="font-size:8.0pt;">Annual Fixed
  Remuneration for 2020 (thousands of euro)</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;"> &nbsp;</font></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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-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: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: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=ES-TRAD style="font-size:8.0pt;">Senior
  Management total</font></font></p>
  </td>
 <td width=40% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">14,101</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:9.0pt;">&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:12.75pt;">
  <td colspan=3 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 lang=EN-US style="font-size:8.0pt;">2019 Annual
  Variable Remuneration (Upfront Portion)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td rowspan=2 width=40% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=30% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">In cash </font></b></font></p>
  </td>
 <td rowspan=2 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 lang=ES-TRAD style="font-size:8.0pt;">In shares </font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=30% 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 lang=ES-TRAD style="font-size:8.0pt;">(thousands of euro)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=ES-TRAD style="font-size:8.0pt;">Senior
  Management total</font></font></p>
  </td>
 <td width=30% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">1,402</font></font></p>
  </td>
 <td width=30% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">280,055</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_792c102cb2734e3cb22dfd9d0"></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; </font></font><a name="XBRL_FS_450a3ed2f0664971a9ed98a38"></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%;">Remuneration
corresponding to the Upfront Portion (40%) of the AVR for the 2019 financial
year (paid 50% in cash and 50% in BBVA shares), as well as the upfront portion
of the retention plans for two members of Senior Management.</font></font><a name="XBRL_FS_450a3ed2f0664971a9ed98a38_bclEnd"></a><a name="XBRL_TS_792c102cb2734e3cb22dfd9d0_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:12.75pt;">
  <td colspan=3 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 lang=EN-US style="font-size:8.0pt;">2016 Annual
  Variable Remuneration (Deferred Portion)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td rowspan=2 width=38% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=31% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">In cash </font></b></font></p>
  </td>
 <td rowspan=2 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">In shares </font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=31% 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 lang=ES-TRAD style="font-size:8.0pt;">(thousands of euro)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Senior
  Management total</font></font></p>
  </td>
 <td width=31% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">1,380</font></font></p>
  </td>
 <td width=31% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">182,461</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_b73bb03d00e449648142fd15a"></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; </font></font><a name="XBRL_FS_328282b68a0b43cdb0791620b"></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%;">Remuneration
corresponding to deferred AVR for the 2016 financial year (50% of the AVR for
2016, in equal parts in cash and in shares), payment of which was due in 2020,
together with its corresponding update in cash, and after being adjusted
downwards following the results of the multi-year performance indicators. </font></font><a name="XBRL_FS_328282b68a0b43cdb0791620b_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-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>

</DIV>
</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">
<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 during the 2020 financial year, including
insurance and other premiums, amounting to a total of &#8364;1,086&nbsp;thousand.</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 of executive directors due in 2021 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 2020 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;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 view of
the exceptional circumstances arising from the COVID-19 crisis, the two
executive directors have voluntarily waived the generation of the whole of the
Annual Variable Remuneration corresponding to the 2020 financial year, so they
will not accrue any remuneration in this respect.</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;">Deferred Annual Variable Remuneration for executive
directors for the 2017 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;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
the end of 2020 financial year, the amount corresponding to the deferred Annual
Variable Remuneration of executive directors for the 2017 financial year has
been determined, with delivery in 2021, if conditions are met in accordance
with the conditions set out in the remuneration policies applicable to the 2017
financial year and applicable to each of them.</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
of Directors in 2017 to calculate the deferred portion of this remuneration,
and in application of the corresponding scales of achievement and their
corresponding targets and weightings, the final amount of the deferred Annual
Variable Remuneration for the 2017 financial year has been determined. </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;">As a result,
the remuneration has been determined in an amount of &#8364;411&nbsp;thousand and
83,692 BBVA shares, in the case of the Group Executive Chairman and &#8364;307
thousand and 39,796 BBVA shares, in the case of the Chief Executive Officer,
which includes in both cases the corresponding updates. </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;">Outstanding deferred Annual Variable Remuneration
for 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;">At year-end
2020, in accordance with the conditions established in the remuneration
policies applicable in previous years, in addition to 40% of the 2017 deferred
AVR of the Group Executive Chairman, 60% of the Annual Variable Remuneration
corresponding to financial years 2018 and 2019 of both executive directors,
remains deferred and is pending payment to them, 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 2021 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 Senior Management
for the 2020 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;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 view of
the exceptional circumstances arising from the COVID-19 crisis, the members of
Senior Management have, like the executive directors, voluntarily waived the
generation of the whole of the Annual Variable Remuneration corresponding to
the 2020 financial year, so they will not accrue any remuneration in this
respect.</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;">Deferred Annual Variable Remuneration for Senior
Management for the 2017 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;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
the end of the 2020 financial year, the amount corresponding to the deferred
Annual Variable Remuneration of members of Senior Management (15 members as at
31&nbsp;December,&nbsp;2020, excluding executive directors) for the 2017
financial year has been determined, with delivery in 2021, if conditions are
met, in accordance with the payment schedule set out in the remuneration
policies applicable to the 2017 financial year and applicable to each of them.</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
of Directors in 2017 to calculate the deferred portion of this remuneration,
and in application of the corresponding scales of achievement and their
corresponding targets and weightings, the amount of the deferred portion of the
2017 Annual Variable Remuneration for members of Senior Management, with
delivery in 2021, has been determined in the aggregate total amount, excluding
executive directors, of &#8364;610&nbsp;thousand and 107,740&nbsp;BBVA shares,
including the corresponding updates. </font></font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-179</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_420"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;">Outstanding deferred Annual Variable Remuneration
for the members of 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;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">At year-end
2020, in accordance with the conditions established in the remuneration
policies applicable in previous years, in addition to 40% of the 2017 deferred
AVR in the case of some members of Senior Management, 60% of the Annual
Variable Remuneration corresponding to financial years 2018 and 2019 remains
deferred and is pending payment to all 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: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 face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:9.0pt;">&#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 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;">Fixed </font></b></font><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:9.0pt;">remuneration</font></b></font><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;"> 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
fixed remuneration system in shares with deferred delivery for its
non-executive directors, which was approved by the General Shareholders'
Meeting held on 18&nbsp;March&nbsp;2006 and extended by resolutions of the
General Shareholders' Meetings held on 11&nbsp;March&nbsp;2011 and
11&nbsp;March&nbsp;2016 for a further five year period in each case.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">This system
is based on the annual allocation to non-executive directors of a number of
&quot;theoretical shares&quot; of BBVA equivalent to 20% of the total
remuneration in cash received by each director in the previous financial year,
calculated according to the average closing prices of BBVA shares during the
60&nbsp;trading sessions prior to the dates of the Annual General Shareholders'
Meetings approving the corresponding financial statements for each financial
year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">These shares
will be delivered to each beneficiary, where applicable, after they leave
directorship for any reason 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
&#8220;theoretical shares&#8221; allocated to non-executive directors who are beneficiaries
of the remuneration system in shares with deferred delivery in the 2020
financial year, corresponding to 20% of the total remuneration received in cash
by each of them in the 2019 financial year, were as follows:</font></font><a name="XBRL_TS_b73bb03d00e449648142fd15a_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=38% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;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=31% 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=#244061 face=Arial,sans-serif style="border:none;"><b><font color=#244061 face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Theoretical shares allocated in 2020</font></b></font></p>
  </td>
 <td width=31% 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=#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&nbsp;December&nbsp;2020</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Jos&#233; Miguel
  Andr&#233;s Torrecillas</font></font></p>
  </td>
 <td width=31% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">20,252</font></font></p>
  </td>
 <td width=31% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">75,912</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Jaime F&#233;lix
  Caruana Lacorte</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">22,067</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">31,387</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Ra&#250;l Galamba de
  Oliveira</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Bel&#233;n Garijo
  L&#243;pez</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">14,598</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">62,126</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Sunir Kumar
  Kapoor</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">7,189</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">22,915</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Lourdes M&#225;iz
  Carro</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">10,609</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">44,929</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Jos&#233; Maldonado
  Ramos</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">14,245</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">108,568</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Ana Peralta
  Moreno</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">10,041</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">15,665</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Juan Pi Llorens</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">20,676</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">92,817</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Ana Revenga
  Shanklin</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Susana
  Rodr&#237;guez Vidarte</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">18,724</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">141,138</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Carlos Salazar
  Lomel&#237;n</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=38% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Jan Verplancke</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">7,189</font></font></p>
  </td>
 <td width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">12,392</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=38% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">Total <sup>(1)</sup></font></b></font></p>
  </td>
 <td width=31% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">145,590</font></b></font></p>
  </td>
 <td width=31% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">607,849</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:35.4pt;margin-right:0pt;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_82adb65762314bce9928aad66"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">(1) </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&nbsp;</font></font><a name="XBRL_FS_9dc31146fedf4e5da0dac0c93"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Furthermore, 8,984
&#8220;theoretical shares&#8221; were assigned to Tom&#225;s Alfaro Drake and 18,655
&#8220;theoretical shares&#8221; were assigned Carlos Loring Mart&#237;nez de Irujo, who left
their roles as directors on 13 March 2020. After leaving their roles, both
directors received a number of BBVA shares equivalent to the total number of
&#8220;theoretical shares&#8221; that each of them had accumulated until that date (102,571
and 135,046 BBVA shares, respectively) by application of the system.</font></font><a name="XBRL_FS_9dc31146fedf4e5da0dac0c93_bclEnd"></a></p>

<p style="border:none;margin:0cm;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 face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:9.0pt;">&#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 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 </font></b></font><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:9.0pt;">commitments</font></b></font><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;"> with executive
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 his duties, to receive a retirement pension,
paid as a lump sum or in instalments, 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 at 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 for the Group Executive Chairman's
defined-contribution system, as established in the Remuneration Policy for BBVA
Directors approved by the General Shareholders&#8217; Meeting in 2019, 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&nbsp;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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

</DIV>
</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">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 &#8220;discretionary pension benefits&#8221;, and therefore subject to the
conditions regarding delivery in shares, retention and clawback established in
the applicable regulations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 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 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
2020 financial year, the following amounts have been recorded to meet the
pension commitments for the Group Executive Chairman: an amount of
&#8364;1,642&nbsp;thousand with regard to the retirement contingency and an amount of
&#8364;377&nbsp;thousand for the payment of premiums for the death and disability
contingencies, as well as an upwards adjustment of &#8364;15&nbsp;thousand for
&#8220;discretionary pension benefits&#8221; for the 2019 financial year, which were
declared at such financial year-end and had to be registered in the accumulated
fund in 2020. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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&nbsp;December,&nbsp;2020,
the total accumulated amount of the fund to meet the retirement commitments for
the Group Executive Chairman amounts to &#8364;23,057&nbsp;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 2020 financial
year, 15% (&#8364;246&nbsp;thousand) was registered in this financial year as
&#8220;discretionary pension benefits&#8221;. Following year-end, the amount was adjusted
applying the same criteria used to determine the Annual Variable Remuneration for
the rest of the Bank's staff. Thus, the &#8220;discretionary pension benefits&#8221; for
the 2020 financial year were determined in an amount of &#8364;148 thousand,
following a downwards adjustment of &#8364;98 thousand. These &#8220;discretionary pension
benefits&#8221; will be included in the accumulated fund in the 2021 financial year
and will be subject to the 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%;">With regard to the Chief Executive
Officer, in accordance with the provisions of the current Remuneration Policy
for BBVA Directors approved by the General Shareholders&#8217; Meeting 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 are 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 2020 financial year, the Bank paid the Chief Executive Officer the
fixed-remuneration amount set out for cash in lieu of pension in the
'Remuneration received by executive directors in 2020' section of this Note and
furthermore, &#8364;253&nbsp;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:10.0pt;text-align:justify;"><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 former executive
director, the Head of GE&amp;PA, &#8364;89&nbsp;thousand were registered as
contributions to fulfil the pension commitments undertaken in proportion to the
time he spent in office during the 2020 financial year. This corresponds to:
the sum of the annual contribution made to cover the retirement pension and the
adjustment made to the &#8220;discretionary pension benefits`&#8221; for the 2019 financial
year that fell due in the 2020 financial year once the AVR for the year 2019
had been determined (&#8364;52&nbsp;thousand); and to the death and disability
premiums (&#8364;37&nbsp;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%;">As of the date on which he left his
position, the total accumulated fund to meet the retirement commitments for the
former executive director Head of GE&amp;PA amounted to &#8364;1,404&nbsp;thousand,
with no additional contributions to be made by the Bank from that point on.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 same
criteria used in the case of the Group Executive Chairman, the &#8220;discretionary
pension benefits&#8221; for the 2020 financial year of the former executive director
Head of GE&amp;PA (calculated in proportion to the time he remained in office
in 2020) were determined in an amount of &#8364;5 thousand, following a downwards
adjustment of &#8364;3 thousand, and will be included in the accumulated fund in the
2021 financial year, subject to the conditions established 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%;">Furthermore, in the 2020 financial
year, to meet the pension commitments for members of Senior Management
(15&nbsp;members holding that position as at 31&nbsp;December,&nbsp;2020,
excluding executive directors) it was recorded an amount of &#8364;2,739 thousand
corresponding to the contribution to the retirement contingency and of &#8364;978&nbsp;thousand
corresponding to premiums to cover the death and disability contingencies, as
well as an upwards adjustment of &#8364;12&nbsp;thousand for &#8220;discretionary pension
benefits&#8221; for the 2019 financial year, which were declared at 2019 year-end and
had to be registered in the accumulated fund in 2020. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 at 31&nbsp;December,&nbsp;2020,
the total accumulated amount of the fund to meet the retirement commitments for
members of Senior Management amounts to &#8364;22,156&nbsp;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%;">As for the executive directors, 15%
of the agreed annual contributions for members of Senior Management to cover
retirement contingencies will be based on variable components and considered
&#8220;discretionary pension benefits&#8221;, and are therefore subject to the conditions
regarding delivery in shares, retention and clawback established in the
applicable regulations, as well as any other conditions concerning variable
remuneration that may be applicable in accordance with the remuneration policy
applicable to members of Senior Management.</font></font></p>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-181</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_422"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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
purpose, with regard to the annual contribution for the retirement contingency
registered in the 2020 financial year, an amount of &#8364;405 thousand was
registered in the 2020 financial year as &#8220;discretionary pension benefits&#8221; and,
following the end of the 2020 financial year, as for the Group Executive
Chairman, this amount was adjusted applying the same criteria used to determine
the Annual Variable Remuneration for the rest of the Bank's staff, taking into
account as well the area and individual results of each senior manager
established to this effects by the executive area. Accordingly, the
&#8220;discretionary pension benefits&#8221; for such financial year, corresponding to all
members of Senior Management, were determined to amount to a total of &#8364;255
thousand, following a downwards adjustment of &#8364;150 thousand. These
&#8220;discretionary pension benefits&#8221; will be included in the accumulated fund in
the 2021 financial year, and will be subject to the conditions established for
these benefits in the remuneration policy applicable to members of Senior Management,
in accordance with the regulations applicable to BBVA on this matter.</font></font></p>

<p style="border:none;margin:0cm;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 face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:9.0pt;">&#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 color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:9.0pt;">Payments</font></b></font><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;"> for the extinction of the contractual relationship</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0pt;margin-top:0cm;text-align:justify;"><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 to pay severance benefits to executive directors. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The contractual framework defined for the executive directors, in
accordance with the Remuneration Policy for BBVA Directors, establishes a
post-contractual non-compete clause for executive directors, effective for a
period of two (2) years after they leave their role as BBVA executive
directors, provided that they do not leave due to retirement, disability or
serious breach of duties. In compensation for this agreement, the Bank shall
award them remuneration of an amount equivalent to their Annual Fixed
Remuneration for each year of the non-compete agreement, which will be awarded
monthly over the course of the two years.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0pt;margin-top:0cm;text-align:justify;"><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, the former executive director Head of GE&amp;PA, who
left his role on 13 March 2020, received for this concept, &#8364;625 thousand during
the 2020 financial year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0pt;margin-top:0cm;text-align:justify;"><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 Senior Management, excluding executive directors,
during the 2020 financial year, the Bank paid out a total of
&#8364;2,185&nbsp;thousand resulting from the extinction of the contractual
relationship with one member of Senior Management and in fulfilment of the
provisions of the member&#8217;s contract (for the payment of legal severance
benefits and notice). This contract includes the right to receive the
corresponding legal severance pay, provided that the member of Senior
Management does not leave of his own will, for retirement, disability or due to
a serious breach of duties, which will be calculated in accordance with the
provisions of applicable labor regulations, and a notice clause. In addition,
the contract establishes a non-compete clause, effective for a period of one
(1) year after the member leaves the role as a senior manager of BBVA, provided
that the member does not leave due to retirement, disability or serious breach
of duties. In compensation for this agreement, the member of Senior Management
received a total of &#8364;898 thousand during 2020.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0pt;margin-top:0cm;text-align:justify;"><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 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 members of Senior Management belong.</font></font><a name="XBRL_TS_82adb65762314bce9928aad66_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_d13a29ab7a8c4f02919f35bcc"></a><a name="_Toc284233789"></a><a name="_Toc376950031"></a><a name="_Toc331691329"></a><a name="_Toc505355988"></a><a name="_Toc495478169"></a><a name="_Toc481589117"></a><a name="_Toc474142341"></a><a name="_Toc457490062"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">55. 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="_Toc474142343"></a><a name="_Toc376972437"></a><a name="_Toc376950029"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Environmental impact</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%;">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, 2020, 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_d13a29ab7a8c4f02919f35bcc_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_8ee8272a4dca42b3b53fdfd48"></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;line-height:115%;">56. Subsequent
events</font></b></font></p>

<p style="border:none;margin-bottom:9.0pt;margin-left:0cm;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%;">On January 22, 2021 and after obtaining all required
authorizations, BBVA has completed the sale to Banco GNB Paraguay, S.A., an
affiliate of Grupo Gilinski, of its 100% direct and indirect stake share
capital in Banco Bilbao Vizcaya Argentaria Paraguay, S.A. (&#8220;BBVA Paraguay&#8221;). </font></font></p>

<p style="border:none;margin-bottom:9.0pt;margin-left:0cm;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%;">The amount received by BBVA amounts to approximately USD250
million (&#8364;210 million). The transaction results in a capital loss of
approximately &#8364;9 million net of taxes. A positive impact on BBVA Group&#8217;s Common
Equity Tier 1 (fully loaded) of approximately 6 basis points is estimated to be
recognized during the first half of 2021 (see Note 3).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">On January 29, 2021, it was
announced that a cash distribution in the amount of &#8364;0.059 gross per share as
shareholder remuneration in relation to the Group&#8217;s result in the 2020
financial year was expected to be submitted to the relevant governing bodies of
BBVA for consideration (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,
2021 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_8ee8272a4dca42b3b53fdfd48_bclEnd"></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 align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"></font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font color=#072146 style="border:none;"><b><font color=#072146 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 face=Arial,sans-serif style="border:none;"><img border=0 height=151 id="Imagen 2" src="d20f2020x422x0.jpg" width=435></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font color=#072146 style="border:none;"><b><font color=#072146 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>





<font face=Arial,sans-serif style="border:none;">
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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;"><a name="_Toc505355993"></a><a name="_Toc481589120"></a><a name="_Toc495478172"></a><a name="_Toc505355991"></a></p>
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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-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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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_424"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;line-height:115%;">APPENDIX I. Additional information on subsidiaries and structured
entities composing the BBVA Group</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;line-height:115%;"> as of December
31, 2020</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=29% 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=#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 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=#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 valign=bottom width=13% style="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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 rowspan=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:5.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 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:5.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=29% 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=#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=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=#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 valign=bottom width=13% style="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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 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:5.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=29% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=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:5.0pt;">Location</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:5.0pt;">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 style="font-size:5.0pt;">Direct</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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;">Indirect</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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;">Total</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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:5.0pt;">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:5.0pt;">31.12.20</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:5.0pt;">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:5.0pt;">31.12.20</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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:5.0pt;">ACTIVOS MACORP SL</font></font></p>
  </td>
 <td nowrap width=10% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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:5.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:5.0pt;">50.63 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:5.0pt;">49.37 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">21</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">22</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ADQUIRA MEXICO SA DE
  CV</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">COMMERCIAL</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ALCALA 120 PROMOC. Y
  GEST.IMMOB. S.L.</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">15</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">19</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ANIDA GRUPO
  INMOBILIARIO SL</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,464</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,552</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">(101)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ANIDA INMOBILIARIA,
  S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">71</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">41</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ANIDA OPERACIONES
  SINGULARES, S.A.</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,341</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,443</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">(102)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ANIDA PROYECTOS
  INMOBILIARIOS, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">27</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">23</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ANIDAPORT
  INVESTIMENTOS IMOBILIARIOS, UNIPESSOAL, LTDA</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">27</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">7</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ANTHEMIS BBVA
  VENTURE PARTNERSHIP LLP</font></font></p>
  </td>
 <td nowrap width=10% 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;">UNITED KINGDOM</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">APLICA NEXTGEN
  OPERADORA S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">APLICA NEXTGEN
  SERVICIOS S.A. DE C.V</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">APLICA TECNOLOGIA
  AVANZADA SA DE CV</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">203</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">199</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ARIZONA FINANCIAL
  PRODUCTS, INC</font></font></p>
  </td>
 <td nowrap width=10% 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;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">799</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">798</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ARRAHONA AMBIT, S.L.</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">12</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">21</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ARRAHONA IMMO, S.L.</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">53</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">114</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ARRAHONA NEXUS, S.L.</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">58</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">67</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ARRELS CT
  FINSOL, S.A.</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">64</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">79</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ARRELS CT
  LLOGUER, S.A.</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ARRELS CT
  PATRIMONI I PROJECTES, S.A.</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">22</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">23</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">ARRELS CT PROMOU SA</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">28</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">32</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">AZLO BUSINESS, INC</font></font></p>
  </td>
 <td nowrap width=10% 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;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">23</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">(23)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BAHIA SUR RESORT S.C.</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">INACTIVE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">99.95 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">99.95 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BANCO BBVA ARGENTINA
  S.A.</font></font></p>
  </td>
 <td nowrap width=10% 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;">ARGENTINA</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">39.97 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">26.59 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">66.55 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">157</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">488</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">333</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BANCO BILBAO VIZCAYA
  ARGENTARIA URUGUAY SA</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">110</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">164</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">28</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BANCO INDUSTRIAL DE
  BILBAO SA</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">99.93 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">99.93 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">48</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">47</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BANCO OCCIDENTAL SA</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">49.43 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">50.57 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">18</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BANCO PROVINCIAL
  OVERSEAS NV</font></font></p>
  </td>
 <td nowrap width=10% 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;">CURA&#199;AO</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">49</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">47</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BANCO PROVINCIAL SA -
  BANCO UNIVERSAL</font></font></p>
  </td>
 <td nowrap width=10% 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;">VENEZUELA</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">1.46 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">53.75 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">55.21 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">33</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">143</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">(9)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BBV AMERICA SL</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">79</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">627</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">12</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BBVA (SUIZA) SA</font></font></p>
  </td>
 <td nowrap width=10% 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;">SWITZERLAND</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">98</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">122</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BBVA AGENCIA DE
  SEGUROS COLOMBIA LTDA</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BBVA ASSET
  MANAGEMENT SA SAF</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BBVA ASSET
  MANAGEMENT SA SGIIC</font></font></p>
  </td>
 <td nowrap width=10% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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;">OTHER INVESTMENT
  COMPANIES</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">(66)</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">113</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BBVA ASSET MANAGEMENT
  SA SOCIEDAD FIDUCIARIA (BBVA FIDUCIARIA)</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">28</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">19</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BBVA AUTOMERCANTIL
  COMERCIO E ALUGER DE VEICULOS AUTOMOVEIS LDA.</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BBVA BANCO
  CONTINENTAL SA (1)</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">46.12 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">46.12 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">972</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,944</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">164</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=29% 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;">BBVA BANCOMER
  GESTION, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=10% 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;">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 valign=bottom width=13% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">19</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">11</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:8.25pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</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: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, 2020.
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, 2020.</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 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-bottom:8.0pt;margin-left:19.5pt;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:6.0pt;line-height:107%;">(1)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:107%;">&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:6.0pt;line-height:107%;">Full consolidation method is used
according to accounting rules (see Glossary)&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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_425"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 as of December 31, 2020
(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 nowrap width=41% 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=#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 width=7% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=10% style="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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height: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:5.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 width=21% 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:5.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% 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=#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=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=#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=10% style="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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=41% 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:5.0pt;">Company</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Location</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:5.0pt;">Activity</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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 width=7% 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:5.0pt;">Net carrying amount</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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:5.0pt;">31.12.20</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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:5.0pt;">31.12.20</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% 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:5.0pt;">BBVA BANCOMER
  OPERADORA SA DE CV</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">20</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 BANCOMER SA
  INSTITUCION DE BANCA MULTIPLE GRUPO FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9,920</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8,443</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,474</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 BANCOMER SEGUROS
  SALUD SA DE CV</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 BANCOMER
  SERVICIOS ADMINISTRATIVOS, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">49</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">40</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 BOLSA SOCIEDAD
  AGENTE DE BOLSA S.A.</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">SECURITIES DEALER</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 BRASIL BANCO DE
  INVESTIMENTO SA</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">BRAZIL</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:5.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">16</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">19</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 BROKER ARGENTINA
  SA</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ARGENTINA</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:5.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">99.96 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">99.96 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 BROKER
  CORREDURIA DE SEGUROS Y REASEGUROS SA</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">99.94 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">0.06 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 COLOMBIA SA</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">77.41 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">18.06 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">95.47 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">355</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,155</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">112</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 CONSOLIDAR
  SEGUROS SA</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ARGENTINA</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:5.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">87.78 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">12.22 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">18</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">24</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">20</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 DATA &amp;
  ANALYTICS SL</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 DISTRIBUIDORA DE
  SEGUROS S.R.L.</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=41% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 FINANCIAL
  CORPORATION</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:13.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">210</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:13.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">212</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 FINANZIA SPA</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ITALY</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:5.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 FOREIGN EXCHANGE
  INC.</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">26</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">20</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 FRANCES ASSET
  MANAGMENT S.A. SOCIEDAD GERENTE DE FONDOS COMUNES DE INVERSI&#211;N.</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ARGENTINA</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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">14</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=41% 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:5.0pt;">BBVA FUNDOS S.GESTORA
  FUNDOS PENSOES SA</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">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 valign=bottom width=10% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">PENSION FUND
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.95pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.95pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.95pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 GLOBAL FINANCE
  LTD</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CAYMAN ISLANDS</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:5.0pt;">PENSION FUNDS
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td nowrap width=41% 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:5.0pt;">BBVA GLOBAL MARKETS
  BV</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">NETHERLANDS</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.1pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.1pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.1pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">BBVA GLOBAL
  SECURITIES, B.V.</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">NETHERLANDS</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:5.0pt;">OTHER ISSUERS
  COMPANIES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 HOLDING CHILE SA</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CHILE</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:5.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">61.22 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">38.78 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">139</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">315</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 INFORMATION
  TECHNOLOGY ESPA&#209;A SL</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">76.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">76.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 INSTITUI&#199;AO
  FINANCEIRA DE CREDITO SA</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">49.90 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">50.10 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">39</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">54</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 INSURANCE
  AGENCY, INC.</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">48</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 INTERNATIONAL
  PREFERRED SOCIEDAD ANONIMA</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">BBVA IRELAND
  PLC ( IN LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">IRELAND</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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 LEASING MEXICO
  SA DE CV</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">51</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">126</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td nowrap width=41% 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:5.0pt;">BBVA MEDIACION
  OPERADOR DE BANCA-SEGUROS VINCULADO, S.A.</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.1pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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:5.0pt;">(8)</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.1pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 MORTGAGE
  CORPORATION</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2,799</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2,730</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">68</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 NEXT
  TECHNOLOGIES OPERADORA, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 NEXT
  TECHNOLOGIES SLU</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">37</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">27</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">BBVA NEXT
  TECHNOLOGIES, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 OP3N S.L.</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 OPEN PLATFORM
  INC</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">(8)</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=41% 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:5.0pt;">BBVA PARAGUAY SA</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">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 valign=bottom width=10% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.95pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">23</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.95pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">144</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.95pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">23</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=41% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 PENSIONES SA
  ENTIDAD GESTORA DE FONDOS DE PENSIONES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">PENSION FUNDS
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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 valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">13</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</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: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, 2020.
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, 2020.</font></font></p>

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

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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">
<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 as of December
31, 2020 (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 nowrap width=28% 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=#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 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=#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=13% style="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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=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:5.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 width=26% 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:5.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% 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=#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=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=#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=13% style="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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=26% 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:5.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=28% 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:5.0pt;">Company</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:5.0pt;">Location</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:5.0pt;">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 style="font-size:5.0pt;">Direct</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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;">Indirect</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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;">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:5.0pt;">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:5.0pt;">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:5.0pt;">31.12.20</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:5.0pt;">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:5.0pt;">31.12.20</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:5.0pt;">BBVA PERU HOLDING SAC</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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;">100.00 </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=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 valign=bottom width=9% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">124</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">902</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">76</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:5.0pt;">BBVA PLANIFICACION
  PATRIMONIAL SL</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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;">80.00 </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;">20.00 </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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">BBVA PREVISION AFP SA
  ADM.DE FONDOS DE PENSIONES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">PENSION FUNDS
  MANAGEMENT</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;">75.00 </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;">5.00 </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;">80.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</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:5.0pt;">BBVA PROCESSING
  SERVICES INC.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">BBVA PROCUREMENT
  SERVICES AMERICA DEL SUR SpA, IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CHILE</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">IN LIQUIDATION</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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:5.0pt;">BBVA RE INHOUSE
  COMPA&#209;IA DE REASEGUROS, S.E.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INSURANCES 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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">39</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">47</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">12</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:5.0pt;">BBVA REAL ESTATE
  MEXICO, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">IN LIQUIDATION</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">BBVA SECURITIES INC</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">223</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">186</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">37</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:5.0pt;">BBVA SEGUROS COLOMBIA
  SA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">INSURANCES 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;">94.00 </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;">6.00 </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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">13</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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:5.0pt;">BBVA SEGUROS DE VIDA
  COLOMBIA SA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">INSURANCES 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;">94.00 </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;">6.00 </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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">14</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">104</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">BBVA SEGUROS SA DE
  SEGUROS Y REASEGUROS</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INSURANCES 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;">99.96 </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=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;">99.96 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">713</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">462</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">594</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:5.0pt;">BBVA SERVICIOS, S.A.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">COMMERCIAL</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">BBVA SOCIEDAD
  TITULIZADORA S.A.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">BBVA TRADE, S.A.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">13</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">13</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">BBVA TRANSFER HOLDING
  INC</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">104</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">87</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">18</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:5.0pt;">BBVA TRANSFER
  SERVICES INC</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">77</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">66</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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:5.0pt;">BBVA USA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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;">-</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;">100.00 </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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8,687</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">10,394</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">(1,707)</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:5.0pt;">BBVA USA BANCSHARES,
  INC.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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;">100.00 </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=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 valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9,018</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">11,136</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">(1,632)</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:5.0pt;">BBVA VALORES COLOMBIA
  SA COMISIONISTA DE BOLSA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">SECURITIES DEALER</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">BBVA WEALTH
  SOLUTIONS, INC.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">15</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</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:5.0pt;">BILBAO VIZCAYA
  HOLDING SA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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;">89.00 </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;">11.00 </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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">67</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">132</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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:5.0pt;">CAIXA MANRESA
  IMMOBILIARIA ON CASA SL</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">CAIXA TERRASSA
  SOCIETAT DE PARTICIPACIONS PREFERENTS SAU</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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:5.0pt;">CAIXASABADELL
  PREFERENTS SA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">CARTERA E INVERSIONES
  SA CIA DE</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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;">100.00 </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=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 valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">92</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">127</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </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:5.0pt;">CASA DE BOLSA BBVA
  BANCOMER SA DE CV</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">SECURITIES DEALER</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">39</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">20</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">19</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:5.0pt;">CATALONIA GEBIRA,
  S.L. (IN LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">CATALONIA PROMODIS 4,
  S.A.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">CATALUNYACAIXA
  IMMOBILIARIA SA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">315</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">314</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">CATALUNYACAIXA
  SERVEIS SA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">CDD GESTIONI
  S.R.L.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ITALY</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">CETACTIUS SL</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">CIDESSA DOS, S.L.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">15</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">15</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">CIERVANA SL</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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;">100.00 </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=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 valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">53</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">54</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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:5.0pt;">COMERCIALIZADORA
  CORPORATIVA SAC</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">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=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;">50.00 </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;">50.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</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:5.0pt;">COMERCIALIZADORA DE
  SERVICIOS FINANCIEROS, S.A.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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:5.0pt;">COMPA&#209;IA CHILENA DE
  INVERSIONES SL</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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;">99.97 </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;">0.03 </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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">221</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">249</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">10</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: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, 2020.
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, 2020.</font></font></p>

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

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</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">
<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 as of December
31, 2020 (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:9.0pt;">
  <td nowrap width=33% 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=#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 width=9% 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=#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=10% style="height:9.0pt;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=24% 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:5.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 width=24% 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:5.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% 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=#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=9% 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=#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=10% style="height:9.0pt;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=24% 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:5.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=33% 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:5.0pt;">Company</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Location</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=#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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Direct</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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:5.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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:5.0pt;">Total</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Net carrying amount</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">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:5.0pt;">31.12.20</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">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:5.0pt;">31.12.20</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">COMPASS CAPITAL
  MARKETS, INC.</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">INVESTMENT COMPANY</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6,866</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6,799</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">67</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">COMPASS GP, INC.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">INVESTMENT COMPANY</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">41</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">41</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">COMPASS INSURANCE
  TRUST</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">COMPASS LIMITED
  PARTNER, INC.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">INVESTMENT COMPANY</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6,027</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5,960</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">66</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">COMPASS LOAN
  HOLDINGS TRS, INC.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">68</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">68</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">COMPASS MORTGAGE
  FINANCING, INC.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">COMPASS SOUTHWEST, LP</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4,973</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4,925</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">48</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">COMPASS TEXAS
  MORTGAGE FINANCING, INC</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CONSOLIDAR A.F.J.P SA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ARGENTINA</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:5.0pt;">IN LIQUIDATION</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;">46.11 </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;">53.89 </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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CONTENTS AREA, S.L.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CONTINENTAL DPR
  FINANCE COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CAYMAN ISLANDS</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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CONTRATACION DE
  PERSONAL, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">7</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CORPORACION GENERAL
  FINANCIERA SA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">INVESTMENT COMPANY</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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">510</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,453</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">COVAULT, INC</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">DALLAS CREATION
  CENTER, INC</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">DATA
  ARCHITECTURE AND TECHNOLOGY MEXICO SA DE CV</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">DATA
  ARCHITECTURE AND TECHNOLOGY S.L.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">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=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;">51.00 </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;">51.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">DATA
  ARQUITECTURE AND TECHNOLOGY OPERADORA SA DE CV</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">DENIZEN FINANCIAL,
  INC</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">DEUTSCHE BANK MEXICO
  SA FIDEICOMISO F/1859</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">DEUTSCHE BANK MEXICO
  SA FIDEICOMISO F/1860</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">DISTRITO CASTELLANA
  NORTE, S.A.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">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=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;">75.54 </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;">75.54 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">153</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ECASA, S.A.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CHILE</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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">30</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">24</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">EMPRENDIMIENTOS DE
  VALOR S.A.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">PAYMENT ENTITIES</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ENTRE2 SERVICIOS
  FINANCIEROS E.F.C SA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">EUROPEA DE
  TITULIZACION SA SGFT</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">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;">88.24 </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=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;">88.24 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">F/11395 FIDEICOMISO
  IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION(1)</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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;">42.40 </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;">42.40 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">F/253863 EL DESEO
  RESIDENCIAL</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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;">65.00 </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;">65.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FIDEICOMISO 28991-8
  TRADING EN LOS MCADOS FINANCIEROS</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FIDEICOMISO F/29764-8
  SOCIO LIQUIDADOR DE OPERACIONES FINANCIERAS DERIVADAS</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">48</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">45</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FIDEICOMISO F/403112-6
  DE ADMINISTRACION DOS LAGOS</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=33% 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:5.0pt;">FIDEICOMISO HARES
  BBVA BANCOMER F/ 47997-2</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom width=10% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.95pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.95pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.95pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FIDEICOMISO INMUEBLES
  CONJUNTO RESIDENCIAL HORIZONTES DE VILLA CAMPESTRE</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FIDEICOMISO LOTE 6.1
  ZARAGOZA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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;">59.99 </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;">59.99 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">FIDEICOMISO
  SCOTIABANK INVERLAT S A F100322908</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=33% 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:5.0pt;">FINANCIERA AYUDAMOS
  S.A. DE C.V., SOFOMER</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom width=10% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.95pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.95pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.95pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.5pt;">
  <td nowrap width=33% 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:5.0pt;">FOMENTO Y DESARROLLO
  DE CONJUNTOS RESIDENCIALES S.L. IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=9% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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:5.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=8% style="height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">60.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">60.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:7.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:7.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:7.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom: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, 2020.
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, 2020.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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
accordance with 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-bottom:8.0pt;margin-left:19.25pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:107%;">(1)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:107%;">&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:6.0pt;line-height:107%;">Full consolidation method is used
according to accounting rules (see Glossary)&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">
<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 as of December
31, 2020 (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 nowrap width=32% 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=#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 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=#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="height:15.0pt;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=24% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 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:5.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=32% 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=#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="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:5.0pt;">&nbsp;</font></b></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=#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 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:5.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=32% 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:5.0pt;">Company</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:5.0pt;">Location</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=#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=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:5.0pt;">Direct</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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:5.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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:5.0pt;">Total</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:5.0pt;">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:5.0pt;">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:5.0pt;">31.12.20</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:5.0pt;">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:5.0pt;">31.12.20</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">FORUM COMERCIALIZADORA
  DEL PERU SA</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">SERVICES</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">FORUM DISTRIBUIDORA
  DEL PERU SA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">FORUM DISTRIBUIDORA,
  S.A.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CHILE</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">39</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">FORUM SERVICIOS
  FINANCIEROS, S.A.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CHILE</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">244</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">208</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">25</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">FUTURO FAMILIAR, S.A.
  DE C.V.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">IN LIQUIDATION</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">G NETHERLANDS BV</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">NETHERLANDS</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">INVESTMENT COMPANY</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">340</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">282</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI BANK SA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ROMANIA</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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;">-</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;">100.00 </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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">258</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">316</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI BBVA AS(1)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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;">49.85 </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=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;">49.85 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4,679</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6,228</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">775</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI BBVA
  EMEKLILIK AS</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">INSURANCES 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=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;">84.91 </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;">84.91 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">105</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">63</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">59</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI BBVA
  FACTORING AS</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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;">81.84 </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;">81.84 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">19</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</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:5.0pt;">GARANTI BBVA FILO AS</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">39</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI BBVA LEASING
  AS</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">126</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">108</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">18</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI BBVA PORTFOY
  AS</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">22</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">14</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI BBVA YATIRIM
  AS</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">89</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">28</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">61</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI BILISIM
  TEKNOLOJISI VE TIC TAS</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">11</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">12</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI
  DIVERSIFIED PAYMENT RIGHTS FINANCE COMPANY</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CAYMAN ISLANDS</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI FILO SIGORTA
  ARACILIK HIZMETLERI A.S.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI HOLDING BV</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">NETHERLANDS</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">INVESTMENT COMPANY</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">280</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">340</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI KONUT
  FINANSMANI DANISMANLIK HIZMETLERI AS (GARANTI MORTGAGE)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI KULTUR AS</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI ODEME
  SISTEMLERI AS (GOSAS)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTI YATIRIM
  ORTAKLIGI AS(1)(2)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">INVESTMENT COMPANY</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=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;">3.61 </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;">3.61 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARANTIBANK BBVA
  INTERNATIONAL N.V.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">NETHERLANDS</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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;">-</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;">100.00 </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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">595</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">585</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GARRAF MEDITERRANIA,
  S.A.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GESCAT GESTIO DE SOL
  SL</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">11</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">11</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GESCAT LLEVANT, S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GESCAT LLOGUERS SL</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GESCAT VIVENDES EN
  COMERCIALITZACIO SL</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">89</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">89</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GESTION DE PREVISION Y
  PENSIONES SA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">PENSION FUND
  MANAGEMENT</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;">60.00 </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=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;">60.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">15</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GESTION Y
  ADMINISTRACION DE RECIBOS, S.A. - GARSA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GRAN JORGE JUAN SA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">424</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">423</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GRUPO FINANCIERO BBVA
  BANCOMER SA DE CV</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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;">99.98 </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=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;">99.98 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6,678</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9,374</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,747</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GUARANTY BUSINESS
  CREDIT CORPORATION</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">30</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">30</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">GUARANTY PLUS HOLDING
  COMPANY</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">INVESTMENT COMPANY</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">HOLVI PAYMENT SERVICE
  OY</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FINLAND</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">27</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">HUMAN RESOURCES
  PROVIDER, INC</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">302</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">299</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">HUMAN RESOURCES
  SUPPORT, INC</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">296</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">294</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</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: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, 2020.
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, 2020.</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 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-bottom:0cm;margin-left:19.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(1)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">Full consolidation method is used according to accounting rules
(see Glossary)&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:19.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><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)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">The percentage of voting rights owned by the Group entities in
this company is 99.97%
</font></font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-188</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_429"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 </font></b></font><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%;">as
of December 31, 2020</font></b></font><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%;"> (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 nowrap width=31% 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=#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 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=#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=13% style="height:15.0pt;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=24% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 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:5.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=31% 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=#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="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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% style="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:5.0pt;">&nbsp;</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:5.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=31% 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:5.0pt;">Company</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:5.0pt;">Location</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:5.0pt;">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 style="font-size:5.0pt;">Direct</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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;">Indirect</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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;">Total</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">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:5.0pt;">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:5.0pt;">31.12.20</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:5.0pt;">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:5.0pt;">31.12.20</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% 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:5.0pt;">INMESP
  DESARROLLADORA, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">16</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">INMUEBLES Y
  RECUPERACIONES CONTINENTAL SA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">39</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">37</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">INPAU, S.A.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">25</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">25</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">INVERAHORRO SL</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">INVERPRO
  DESENVOLUPAMENT, S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">INVERSIONES ALDAMA,
  C.A.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">PENSION FUNDS
  MANAGEMENT</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">INVERSIONES BANPRO
  INTERNATIONAL INC NV(1)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CURA&#199;AO</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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;">48.00 </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=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;">48.01 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">16</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">INVERSIONES BAPROBA
  CA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">INVERSIONES P.H.R.4,
  C.A.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INACTIVE</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=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;">60.46 </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;">60.46 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">IRIDION SOLUCIONS
  IMMOBILIARIES SL</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">JALE PROCAM,
  S.L. (IN LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">IN LIQUIDATION</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=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;">50.00 </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;">50.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">(57)</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">LIQUIDITY ADVISORS LP</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,071</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,055</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">16</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">MADIVA SOLUCIONES,
  S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">MISAPRE, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">MOMENTUM SOCIAL
  INVESTMENT HOLDING, S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">INVESTMENT COMPANY</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">7</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">7</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">MOTORACTIVE IFN SA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ROMANIA</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">35</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">27</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">MOTORACTIVE
  MULTISERVICES SRL</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ROMANIA</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">MULTIASISTENCIA
  OPERADORA S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">INSURANCES 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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">MULTIASISTENCIA
  SERVICIOS S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">INSURANCES 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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">MULTIASISTENCIA, S.A.
  DE C.V.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">INSURANCES 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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">32</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">24</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">NOVA TERRASSA 3, S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">OPCION VOLCAN, S.A.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">PAYMENT ENTITIES</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">PAYMENT ENTITIES</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">18</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 SERVICIOS
  S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">OPERADORA DOS LAGOS
  S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">OPPLUS OPERACIONES Y
  SERVICIOS SA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">OPPLUS SAC (IN
  LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">IN LIQUIDATION</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">P.I. HOLDINGS
  NO. 3, INC.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">PARCSUD PLANNER, S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">PECRI INVERSION SL</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">OTHER INVESTMENT
  COMPANIES</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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">264</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">260</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">PENSIONES BBVA
  BANCOMER, S.A. DE C.V., GRUPO FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 valign=bottom 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:5.0pt;">INSURANCES 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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">281</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">213</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">68</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">PHOENIX LOAN
  HOLDINGS, INC.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">258</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">256</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">PI HOLDINGS NO. 1,
  INC.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">77</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">77</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">PORTICO PROCAM, S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">26</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">26</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">PROMOCIONES Y
  CONSTRUCCIONES CERBAT, S.L.U.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=31% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">PROMOTORA DEL VALLES,
  S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">51</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">36</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">16</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: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, 2020.
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, 2020.</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 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-bottom:8.0pt;margin-left:19.25pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><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)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">Full consolidation method is used
according to accounting rules (see Glossary)&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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_430"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 as
of December 2020 (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 nowrap width=32% 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=#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 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=#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="height:15.0pt;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=24% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 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:5.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=32% 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=#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="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:5.0pt;">&nbsp;</font></b></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=#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 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:5.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=32% 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:5.0pt;">Company</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:5.0pt;">Location</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=#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=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:5.0pt;">Direct</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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:5.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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:5.0pt;">Total</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:5.0pt;">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:5.0pt;">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:5.0pt;">31.12.20</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:5.0pt;">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:5.0pt;">31.12.20</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PROMOU CT 3AG DELTA,
  S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PROMOU CT EIX MACIA,
  S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PROMOU CT GEBIRA,
  S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PROMOU CT
  OPENSEGRE, S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">PROMOU CT VALLES,
  S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 valign=bottom 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 valign=bottom width=8% style="height:13.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:13.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:13.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PROMOU GLOBAL, S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">18</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PRONORTE UNO PROCAM,
  S.A.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">PAYMENT ENTITIES</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PROPEL VENTURE
  PARTNERS BRAZIL S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">PAYMENT ENTITIES</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=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;">99.80 </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;">99.80 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">11</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:9.0pt;">
  <td nowrap 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:5.0pt;">PROPEL VENTURE
  PARTNERS GLOBAL, S.L</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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;">99.50 </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;">99.50 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">59</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">87</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PROPEL VENTURE
  PARTNERS US FUND I, L.P.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">VENTURE CAPITAL</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">144</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">122</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">22</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PRO-SALUD, C.A.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">INACTIVE</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=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;">58.86 </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;">58.86 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PROVINCIAL DE VALORES
  CASA DE BOLSA CA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">SECURITIES DEALER</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=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;">90.00 </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;">90.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PROVINCIAL
  SDAD.ADMIN.DE ENTIDADES DE INV.COLECTIVA CA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PROV-INFI-ARRAHONA,
  S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PROVIVIENDA ENTIDAD
  RECAUDADORA Y ADMIN.DE APORTES, S.A.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">PENSION FUND
  MANAGEMENT</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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PSA FINANCE ARGENTINA
  COMPA&#209;IA FINANCIERA SA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ARGENTINA</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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;">-</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;">50.00 </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;">50.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">11</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">PUERTO CIUDAD LAS
  PALMAS, S.A.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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;">96.64 </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;">96.64 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:9.0pt;">
  <td nowrap 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:5.0pt;">QIPRO SOLUCIONES S.L.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">RALFI IFN SA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ROMANIA</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">37</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">RPV COMPANY</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CAYMAN ISLANDS</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">RWHC, INC</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">719</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">706</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">13</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SAGE OG I, INC</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SAGE OG2, LLC</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SATICEM GESTIO SL</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SATICEM HOLDING SL</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SATICEM IMMOBILIARIA
  SL</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom 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 valign=bottom 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;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 valign=bottom width=8% style="height:13.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">16</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:13.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">16</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:13.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SATICEM IMMOBLES EN
  ARRENDAMENT SL</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SEGUROS BBVA BANCOMER
  SA DE CV GRUPO FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">INSURANCES 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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">373</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">177</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">196</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SEGUROS PROVINCIAL CA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">INSURANCES 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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">11</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:9.0pt;">
  <td nowrap 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:5.0pt;">SERVICIOS
  CORPORATIVOS BANCOMER, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SERVICIOS
  CORPORATIVOS DE SEGUROS, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SERVICIOS EXTERNOS DE
  APOYO EMPRESARIAL, S.A DE C.V.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">15</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">14</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SIMPLE FINANCE
  TECHNOLOGY CORP.</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">40</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">67</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SOCIEDAD DE ESTUDIOS
  Y ANALISIS FINANCIERO SA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">63</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">71</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SOCIEDAD GESTORA DEL
  FONDO PUBLICO DE REGULACION DEL MERCADO HIPOTECARIO SA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">PENSION FUNDS
  MANAGEMENT</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;">77.20 </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=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;">77.20 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">SPORT CLUB 18 SA</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">INVESTMENT COMPANY</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;">100.00 </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=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 valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:9.0pt;">
  <td nowrap 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:5.0pt;">TEXAS LOAN SERVICES
  LP</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap 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:5.0pt;">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=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 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;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,089</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,070</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">19</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:6.0pt;line-height:115%;">(*)&#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, 2020.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;(**)&#160; In accordance with 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><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-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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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_431"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 as
of December 2020 (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 nowrap width=27% 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=#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 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=#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=10% style="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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=27% 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:5.0pt;">% Legal share of participation (**)</font></b></font></p>
  </td>
 <td colspan=3 width=27% 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:5.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=27% 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=#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=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=#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=10% style="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;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=27% 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:5.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=27% 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:5.0pt;">Company</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Location</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=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:5.0pt;">Direct</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: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:5.0pt;">Indirect</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: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:5.0pt;">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:5.0pt;">Net carrying amount</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:5.0pt;">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:5.0pt;">31.12.20</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:5.0pt;">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:5.0pt;">31.12.20</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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 style="font-size:5.0pt;">TMF HOLDING INC.</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">INVESTMENT COMPANY</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: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:5.0pt;">100.00 </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:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">15</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">15</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">TRIFOI REAL ESTATE
  SRL</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ROMANIA</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:5.0pt;">REAL ESTATE</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: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:5.0pt;">100.00 </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:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">TUCSON LOAN HOLDINGS,
  INC.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">FINANCIAL SERVICES</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: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:5.0pt;">100.00 </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:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">16</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">15</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">UNIVERSALIDAD TIPS
  PESOS E-9</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">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 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:5.0pt;">FINANCIAL SERVICES</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: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:5.0pt;">100.00 </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:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">26</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">UNNIM SOCIEDAD PARA
  LA GESTION DE ACTIVOS INMOBILIARIOS SA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">REAL ESTATE</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:5.0pt;">100.00 </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: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:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">623</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">523</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">UPTURN FINANCIAL INC</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">UNITED STATES</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:5.0pt;">FINANCIAL SERVICES</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: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:5.0pt;">100.00 </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:5.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">URBANIZADORA SANT
  LLORENC SA</font></font></p>
  </td>
 <td nowrap width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">INACTIVE</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">60.60 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">60.60 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:13.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:13.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:13.5pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">VERIDAS DIGITAL
  AUTHENTICATION SOLUTIONS S.L.</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SPAIN</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:5.0pt;">SERVICES</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: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:5.0pt;">51.00 </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:5.0pt;">51.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:5.0pt;">VOLKSWAGEN FINANCIAL
  SERVICES COMPA&#209;IA FINANCIERA SA</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">ARGENTINA</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:5.0pt;">BANKING</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: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:5.0pt;">51.00 </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:5.0pt;">51.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">13</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">19</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:9.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">7</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: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, 2020.
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, 2020.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;(**)&#160; In accordance with 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:8.0pt;line-height:115%;">This Appendix is an integral part
of Note 3 of the consolidated financial statements for the year ended December
31, 2020.</font></font><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

</DIV>
</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">
<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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">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;line-height:115%;">Additional
information on investments joint ventures and associates in the BBVA Group as
of December 31, 2020</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>

<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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Most significant companies are
included, which together represent 99% of the total investment in this group.</font></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:9.0pt;">
  <td nowrap width=23% 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=#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 width=8% 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=#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=14% style="height:9.0pt;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=18% 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:5.0pt;">% Legal share of participation </font></b></font></p>
  </td>
 <td colspan=5 width=37% 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:5.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=23% style="height:9.75pt;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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="height:9.75pt;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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="height:9.75pt;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=37% 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;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=23% 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:5.0pt;">Company</font></b></font></p>
  </td>
 <td width=8% 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:5.0pt;">Location</font></b></font></p>
  </td>
 <td width=14% 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:5.0pt;">Activity</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Direct</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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:5.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height: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:5.0pt;">Total</font></b></font></p>
  </td>
 <td width=8% 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:5.0pt;">Net carrying amount</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Assets 31.12.20</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Liabilities 31.12.20</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">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:5.0pt;">31.12.20</font></b></font></p>
  </td>
 <td width=8% 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:5.0pt;">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:5.0pt;">31.12.20</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=23% style="border:none;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:5.0pt;">ASSOCIATES</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:10.5pt;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=14% style="border:none;height:10.5pt;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 width=6% style="border:none;height:10.5pt;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 width=6% style="border:none;height:10.5pt;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 width=6% style="border:none;height:10.5pt;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 width=8% style="border:none;height:10.5pt;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 width=7% style="border:none;height:10.5pt;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 width=7% style="border:none;height:10.5pt;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 width=7% style="border:none;height:10.5pt;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 width=8% style="border:none;height:10.5pt;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:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">ADQUIRA ESPA&#209;A, S.A.</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">COMMERCIAL</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;44.44 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;44.44 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">19</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">11</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">ATOM BANK PLC</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">UNITED KINGDOM</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;39.02 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;39.02 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">64</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">3,253</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">3,089</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">239</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">(75)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">AUREA, S.A. (CUBA)</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">CUBA</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;49.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;49.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">9</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">BBVA ALLIANZ SEGUROS
  Y REASEGUROS, S.A.</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;50.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;50.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">250</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">753</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">204</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">548</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">COMPA&#209;IA ESPA&#209;OLA DE
  FINANCIACION DEL DESARROLLO SA</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">PUBLIC ENTITIES AND
  INSTITUTIONS</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;16.67 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;16.67 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">25</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">155</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">140</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">DIVARIAN PROPIEDAD,
  S.A.U.</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;20.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;20.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">567</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">2,976</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">143</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">2,922</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">(89)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=23% 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:5.0pt;">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=8% 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:5.0pt;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;28.50 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;28.50 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">7</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">METROVACESA SA</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;9.44 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;11.41 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;20.85 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">285</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">2,910</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">652</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">2,341</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">(82)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">REDSYS SERVICIOS DE
  PROCESAMIENTO SL</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;20.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;20.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">14</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">103</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">32</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">69</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">ROMBO COMPA&#209;IA
  FINANCIERA SA</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">ARGENTINA</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;40.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;40.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">91</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">72</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">16</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">SERVICIOS
  ELECTRONICOS GLOBALES SA DE CV</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;46.14 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;46.14 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">11</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">23</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">20</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">SERVIRED SOCIEDAD
  ESPA&#209;OLA DE MEDIOS DE PAGO SA</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">ESPA&#209;A</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;28.72 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;28.72 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">45</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">19</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">27</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">SOLARISBANK AG (2)</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">GERMANY</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;17.59 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;17.59 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">39</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">1,434</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">1,368</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">90</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">(24)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">TELEFONICA FACTORING
  ESPA&#209;A SA</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;30.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;30.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">81</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">67</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">7</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">TF PERU SAC</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">PERU</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;24.30 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;24.30 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=23% style="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:5.0pt;">JOINT VENTURES </font></b></font></p>
  </td>
 <td nowrap width=8% style="height:10.5pt;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 nowrap width=14% style="height:10.5pt;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 nowrap width=6% style="height:10.5pt;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 nowrap width=6% style="height:10.5pt;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 nowrap width=6% style="height:10.5pt;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 nowrap width=8% style="height:10.5pt;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 nowrap width=7% style="height:10.5pt;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 nowrap width=7% style="height:10.5pt;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 nowrap width=7% style="height:10.5pt;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 nowrap width=8% style="height:10.5pt;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>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">ALTURA MARKETS
  SOCIEDAD DE VALORES SA</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">SECURITY DEALER</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;50.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;50.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">77</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">3,122</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">2,969</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">143</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">COMPA&#209;IA MEXICANA DE
  PROCESAMIENTO SA DE CV</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;50.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;50.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">16</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">15</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">CORPORACION IBV
  PARTICIPACIONES EMPRESARIALES, (1)</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;50.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;50.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">29</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">63</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">58</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">DESARROLLOS
  METROPOLITANOS DEL SUR, S.L.</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;50.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;50.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">17</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">81</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">47</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">30</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">FIDEICOMISO 1729
  INVEX ENAJENACION DE CARTERA (1)</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;- &#160;&#160;&nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;44.09 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;44.09 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">158</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">158</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">FIDEICOMISO
  F/402770-2 ALAMAR</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;42.40 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;42.40 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">16</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">16</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">PROMOCIONS TERRES
  CAVADES, S.A.</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;39.11 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;39.11 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">15</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">RCI COLOMBIA SA
  COMPA&#209;IA DE FINANCIAMIENTO</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">COLOMBIA</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;49.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;49.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">36</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">571</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">499</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">65</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=23% 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:5.0pt;">VITAMEDICA
  ADMINISTRADORA, S.A. DE C.V (1)</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;-&#160;&#160; &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;51.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=6% 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:5.0pt;">&#160;51.00 &nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">18</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">9</font></font></p>
  </td>
 <td nowrap width=7% 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:5.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% 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:5.0pt;">1</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; In foreign companies the
exchange rate of December 31, 2020 is applied. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;(1)
Classified as Non-current asset in seld.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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%;">(2) The
percentage of voting rights owned by the Group entities in this company is
22.22%</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 Appendix is an integral part
of Notes 3 and 16.1 of the consolidated financial statements for the year ended
December 31, 2020.</font></font><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<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;line-height:115%;">APPENDIX III. Changes and notifications of participations in the
BBVA Group in 2020</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=43% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=18% 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=#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=20% 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 lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=19% 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=#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>
 </tr>
<tr style="height:44.25pt;">
  <td width=43% 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=18% 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=20% style="border:none;border-bottom:solid black 1.0pt;height:44.25pt;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;">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=19% style="border:none;border-bottom:solid black 1.0pt;height:44.25pt;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:5.0pt;">Effective Date for the Transaction (or Notification Date)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=43% 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:5.0pt;">ADQUIRA MEXICO SA DE
  CV</font></font></p>
  </td>
 <td width=18% 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:5.0pt;">ACQUISITION</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:5.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=19% 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;">30-Sep-20</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=43% 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:5.0pt;">PROPEL VENTURE
  PARTNERS BRAZIL S.L.</font></font></p>
  </td>
 <td width=18% 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:5.0pt;">CONSTITUTION</font></font></p>
  </td>
 <td nowrap width=20% 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;">99.80</font></font></p>
  </td>
 <td nowrap width=19% 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;">28-May-20</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=43% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">BBVA GLOBAL
  SECURITIES, B.V.</font></font></p>
  </td>
 <td width=18% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">CONSTITUTION</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:5.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">07-Dec-20</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)Variations of less than 0.1% have not been considered due to
immateriality</font></font></p>

<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:107%;">&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-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>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_434"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 notifications of participations in the BBVA Group in 2020
(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:30.0pt;">
  <td nowrap valign=bottom width=55% style="height:30.0pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="height:30.0pt;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=15% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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 width=15% style="height:30.0pt;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>
 </tr>
<tr style="height:36.0pt;">
  <td width=55% style="border-bottom:solid #004481 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;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;">Company (*)</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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;">Type of transaction</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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;">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:5.0pt;">controlled after the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">disposal</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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>
 </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:5.0pt;">CIDESSA UNO SL</font></font></p>
  </td>
 <td width=15% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">MERGER</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">24-Nov-20</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:5.0pt;">EL ENCINAR
  METROPOLITANO, S.A.</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1-Aug-20</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=55% 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;">DENIZEN GLOBAL
  FINANCIAL SAU</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 style="font-size:5.0pt;">LIQUIDATION</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;">-</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;">25-Nov-20</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=55% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FIDEICOMISO N.989 EN
  THE BANK OF NEW YORK MELLON SA INSTITUCION DE BANCA MULTIPLE FIDUCIARIO
  (FIDEIC.00989 6 EMISION)</font></font></p>
  </td>
 <td width=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 style="font-size:5.0pt;">MERGER</font></font></p>
  </td>
 <td nowrap width=15% 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;">-</font></font></p>
  </td>
 <td nowrap width=15% 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;">30-Sep-20</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=55% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FIDEICOMISO N&#186; 847 EN
  BANCO INVEX SA INSTITUCION DE BANCA MULTIPLE INVEX GRUPO FINANCIERO
  FIDUCIARIO (FIDEIC. INVEX 4&#170; EMISION)</font></font></p>
  </td>
 <td width=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 style="font-size:5.0pt;">MERGER</font></font></p>
  </td>
 <td nowrap width=15% 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;">-</font></font></p>
  </td>
 <td nowrap width=15% 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;">30-Jun-20</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=55% 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;">BBVA CONSULTING (
  BEIJING) LIMITED</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 style="font-size:5.0pt;">LIQUIDATION</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;">-</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;">2-Dec-20</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=55% 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;">EL MILANILLO, S.A.</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 style="font-size:5.0pt;">LIQUIDATION</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;">-</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;">27-Oct-20</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=55% 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;">F/403035-9 BBVA
  HORIZONTES RESIDENCIAL</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 style="font-size:5.0pt;">DISPOSAL</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;">-</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;">31-Oct-20</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=55% 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;">HOLAMUNO AGENTE DE
  SEGUROS VINCULADO, S.L.U. IN LIQUIDATION</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 style="font-size:5.0pt;">LIQUIDATION</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;">-</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;">14-Feb-20</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=55% 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;">HOLVI
  DEUTSCHLAND SERVICE GMBH (IN LIQUIDATION)</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 style="font-size:5.0pt;">LIQUIDATION</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;">-</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;">14-Feb-20</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=55% 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;">ARRAHONA RENT, S.L.U.</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 style="font-size:5.0pt;">LIQUIDATION</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;">-</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;">27-Jul-20</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=55% 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:5.0pt;">L'EIX IMMOBLES, S.L.</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black 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: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:5.0pt;">27-Jul-20</font></font></p>
  </td>
 </tr>
<tr style="height:15.95pt;">
  <td width=55% 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:5.0pt;">ESPAIS SABADELL
  PROMOCIONS INMOBILIARIES, S.A.</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">28-Jul-20</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=55% 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;">HABITATGES FINVER,
  S.L.</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 style="font-size:5.0pt;">LIQUIDATION</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;">-</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;">28-Jul-20</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:5.0pt;">HABITATGES JUVIPRO,
  S.L.</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">28-Jul-20</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:5.0pt;">CATALUNYACAIXA
  CAPITAL SA</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">MERGER</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">21-Sep-20</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:5.0pt;">CLUB GOLF HACIENDA EL
  ALAMO, S.L.(IN LIQUIDATION)</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">12-Aug-20</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:5.0pt;">GESCAT SINEVA, S.L.</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">29-Jul-20</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:5.0pt;">GESCAT POLSKA SP ZOO</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">12-Feb-20</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:5.0pt;">EXPANSION
  INTERCOMARCAL SL</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">28-Jul-20</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:5.0pt;">NOIDIRI SL</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">28-Jul-20</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:5.0pt;">CAIXA MANRESA
  IMMOBILIARIA SOCIAL SL</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">27-Jul-20</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)Variations of less than 0.1% have not been considered due to
immateriality
</font></font></p>


<DIV bclFooter>

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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">
<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:115%;">&nbsp;</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
notifications of participations in the BBVA Group in 2020 (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=40% style="height:24.0pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="height:24.0pt;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=20% style="height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=20% style="height:24.0pt;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>
 </tr>
<tr style="height:49.5pt;">
  <td width=40% 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;">Company (*)</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=20% style="border:none;border-bottom:solid black 1.0pt;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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 align=right style="border:none;margin:0cm;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;">controlled after the</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:5.0pt;">disposal</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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>
 </tr>
<tr style="height:11.25pt;">
  <td width=40% 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:5.0pt;">ADQUIRA ESPA&#209;A, S.A.</font></font></p>
  </td>
 <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:5.0pt;">CAPITAL REDUCTION</font></font></p>
  </td>
 <td nowrap width=20% 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:5.0pt;">44.44</font></font></p>
  </td>
 <td nowrap width=20% 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:5.0pt;">31-Mar-20</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 style="font-size:5.0pt;">FIDEICOMISO 1729
  INVEX ENAJENACION DE CARTERA</font></font></p>
  </td>
 <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:5.0pt;">ACQUISITION</font></font></p>
  </td>
 <td nowrap width=20% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">44.09</font></font></p>
  </td>
 <td nowrap width=20% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">18-Aug-20</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 style="font-size:5.0pt;">BBVA ALLIANZ SEGUROS
  Y REASEGUROS, S.A.</font></font></p>
  </td>
 <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:5.0pt;">CONSTITUTION</font></font></p>
  </td>
 <td nowrap width=20% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=20% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">05-May-20</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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:5.0pt;">PLAY DIGITAL SA</font></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">CONSTITUTION</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">33.33</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">27-May-20</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)Variations of less than 0.1% have not been considered due to
immateriality</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
notifications of participations in the BBVA Group in 2020 (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:8.25pt;">
  <td nowrap width=48% 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 width=17% 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 valign=bottom width=17% 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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:30.75pt;">
  <td nowrap width=48% style="height:30.75pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=17% style="height:30.75pt;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% style="height:30.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=18% style="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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=48% 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:5.0pt;">Company (*)</font></b></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=#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=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=#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 align=center style="border:none;margin:0cm;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;">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:5.0pt;">disposal</font></b></font></p>
  </td>
 <td width=18% 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:5.0pt;">Effective date for the transaction (or notification date)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=48% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CAJA DE EMI. CON GAR.
  DE ANUALIDADES DEBIDA POR EL ESTADO SA</font></font></p>
  </td>
 <td nowrap width=17% 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:5.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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=18% 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;">13-Oct-20</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">BATEC MOBILITY, S.L.</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">DISPOSAL</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=18% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">28-Jan-20</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">CAPIPOTA PRODUCTIONS
  S.L.</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">DISPOSAL</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=18% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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-Dec-20</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FIDEICOMISO DE
  ADMINISTRACION REDETRANS</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">DISPOSAL</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=18% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">18-Sep-20</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SOCIEDADE ALTITUDE
  SOFTWARE-SISTEMA E SERVI&#199;OS SA</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">DISPOSAL</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=18% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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-Dec-20</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SOLARISBANK AG(1)</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">CAPITAL INCREASE</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">17.59 </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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-Sep-20</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">PLAY DIGITAL SA</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">DILUTION&#160;&#160;&#160; </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">13.00 </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">15-Dec-20</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">NOVA LLAR SANT
  JOAN, S.A. IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">LIQUIDATION</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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=18% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.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;">03-Apr-20</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)Variations of less than 0.1% have not been considered due to
immateriality</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;page-break-after:avoid;"><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;&#160;&#160;&#160; The percentage of voting rights owned by the Group
entities in this company is 22.22%</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 Appendix is an integral part
of Notes 3 and 16.1 of the consolidated financial statements for the year ended
December 31, 2020.</font></font><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-195</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_436"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;line-height:115%;">APPENDIX IV. Fully consolidated subsidiaries with more than 10%
owned by non-Group shareholders as of December 31, 2020</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=49% style="height:25.5pt;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 width=18% style="height:25.5pt;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=33% 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:5.0pt;">% of voting rights controlled by the Bank</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=49% 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:5.0pt;">Company</font></b></font></p>
  </td>
 <td width=18% 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:5.0pt;">Activity</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:5.0pt;">Direct</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:5.0pt;">Indirect</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:5.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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:5.0pt;">BBVA BANCO
  CONTINENTAL SA</font></font></p>
  </td>
 <td nowrap width=18% 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:5.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">46.12</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">46.12</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">BANCO PROVINCIAL SA -
  BANCO UNIVERSAL</font></font></p>
  </td>
 <td nowrap width=18% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">1.46</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">53.75</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">55.21</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">INVERSIONES BANPRO
  INTERNATIONAL INC NV</font></font></p>
  </td>
 <td nowrap width=18% 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;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">48.00</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">48.01</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">PRO-SALUD, C.A.</font></font></p>
  </td>
 <td nowrap width=18% 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;">NO ACTIVITY</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">58.86</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">58.86</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">INVERSIONES P.H.R.4,
  C.A.</font></font></p>
  </td>
 <td nowrap width=18% 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;">NO ACTIVITY</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">60.46</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">60.46</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">BBVA PREVISION AFP SA
  ADM.DE FONDOS DE PENSIONES</font></font></p>
  </td>
 <td nowrap width=18% 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;">PENSION FUND
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">75.00</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">5.00</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">80.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">COMERCIALIZADORA
  CORPORATIVA SAC</font></font></p>
  </td>
 <td nowrap width=18% 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;">FINANCIAL SERVICES </font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">50.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">DISTRITO CASTELLANA
  NORTE, S.A.</font></font></p>
  </td>
 <td nowrap width=18% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">75.54</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">75.54</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">GESTION DE PREVISION
  Y PENSIONES SA</font></font></p>
  </td>
 <td nowrap width=18% 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;">PENSION FUND
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">60.00</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">60.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">F/253863 EL DESEO
  RESIDENCIAL</font></font></p>
  </td>
 <td nowrap width=18% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">65.00</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">65.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">DATA
  ARCHITECTURE AND TECHNOLOGY S.L.</font></font></p>
  </td>
 <td nowrap width=18% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">51.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">VOLKSWAGEN FINANCIAL
  SERVICES COMPA&#209;IA FINANCIERA SA</font></font></p>
  </td>
 <td nowrap width=18% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">51.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">FIDEICOMISO LOTE 6.1
  ZARAGOZA</font></font></p>
  </td>
 <td nowrap width=18% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">59.99</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">59.99</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">F/11395 FIDEICOMISO
  IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION</font></font></p>
  </td>
 <td nowrap width=18% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">42.40</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">42.40</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">VERIDAS DIGITAL
  AUTHENTICATION SOLUTIONS S.L.</font></font></p>
  </td>
 <td nowrap width=18% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">51.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">GARANTI BBVA
  EMEKLILIK AS</font></font></p>
  </td>
 <td nowrap width=18% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">84.91</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">84.91</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">FOMENTO Y DESARROLLO
  DE CONJUNTOS RESIDENCIALES S.L. IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=18% 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;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">60.00</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">60.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">BBVA INFORMATION
  TECHNOLOGY ESPA&#209;A SL</font></font></p>
  </td>
 <td nowrap width=18% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">76.00</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">76.00</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">JALE PROCAM,
  S.L. (IN LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=18% 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:5.0pt;">IN LIQUIDATION</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:5.0pt;">-</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:5.0pt;">50.00</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:5.0pt;">50.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=49% 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;">PSA FINANCE ARGENTINA
  COMPA&#209;IA FINANCIERA SA</font></font></p>
  </td>
 <td nowrap width=18% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=11% 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:5.0pt;">50.00</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:7.0pt;text-align:justify;"><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 Appendix is an integral part of Note 3 of the consolidated
financial statements for the year ended December 31, 2020.</font></font></p>

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



<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="_Toc481589127"></a></p>
<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-196</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_437"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;line-height:115%;">APPENDIX V. BBVA Group&#8217;s structured entities in 2020. 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="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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=18% 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=#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="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: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;">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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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 (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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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-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=#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, 2020 (*)</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;">TDA 27 MIXTO, FTA</font></font></p>
  </td>
 <td width=18% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Dec-06</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;">275</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;">71</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 style="border:none;margin:0cm;margin-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=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;">May-16</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;">1,151</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 style="border:none;margin:0cm;margin-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=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;">Nov-05</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;">1,016</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;">150</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="border:none;margin:0cm;margin-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=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;">Nov-07</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;">85</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 RMBS15 FT</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">May-15</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;">2,725</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 style="border:none;margin:0cm;margin-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=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;">May-08</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;">2,043</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 22 MIXTO, FTA
  (UNNIM)</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Dec-04</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;">592</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;">19</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 style="border:none;margin:0cm;margin-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=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;">Jul-06</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;">1,526</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;">220</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 2020-1</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Jun-20</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>
 <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;">957</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 MIXTO, FTA</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Feb-04</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;">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;">18</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA CONSUMER AUTO
  2020-1</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Jun-20</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;">1,100</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;">1,100</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 style="border:none;margin:0cm;margin-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=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;">Jun-11</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;">993</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 style="border:none;margin:0cm;margin-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=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;">May-05</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;">196</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 HIP MIXTO V</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Jul-06</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;">120</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;">26</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 style="border:none;margin:0cm;margin-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=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;">Mar-07</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;">1,485</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 style="border:none;margin:0cm;margin-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=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;">Nov-17</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;">1,475</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 style="border:none;margin:0cm;margin-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=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;">Jun-04</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;">TDA 23 MIXTO, FTA</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Mar-05</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;">860</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;">34</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 style="border:none;margin:0cm;margin-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=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;">Mar-17</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;">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 14 FTA</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Nov-14</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;">406</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
  IV, FTA</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Jun-05</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;">13</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="border:none;margin:0cm;margin-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=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;">Apr-10</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;">725</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 2 FT</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Jul-20</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;">2,100</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;">1,941</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 style="border:none;margin:0cm;margin-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=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;">Jul-10</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;">20</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 28 MIXTO, FTA</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Jul-07</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;">71</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 6 FTA</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Sep-03</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>
 <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;">81</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 18 MIXTO, FTA</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Nov-03</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;">91</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;">9</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 style="border:none;margin:0cm;margin-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=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;">Jul-07</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;">1,222</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 10 FT</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Jul-19</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;">1,945</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 LEASING 1 FTA</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Jun-07</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;">14</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 style="border:none;margin:0cm;margin-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=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;">Jun-12</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;">875</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 style="border:none;margin:0cm;margin-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=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;">Jul-14</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;">2,707</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 style="border:none;margin:0cm;margin-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=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;">Jul-16</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;">222</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 style="border:none;margin:0cm;margin-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=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;">Dec-13</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;">2,735</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 style="border:none;margin:0cm;margin-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=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;">Jun-18</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;">557</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 style="border:none;margin:0cm;margin-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=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;">Feb-07</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;">799</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 style="border:none;margin:0cm;margin-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=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;">Nov-19</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;">1,852</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 style="border:none;margin:0cm;margin-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=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;">Jun-07</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;">5</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GAT VPO (UNNIM)</font></font></p>
  </td>
 <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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;">Jun-09</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">780</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">48</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 style="border:none;margin:0cm;margin-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=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;">Mar-07</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;">1,628</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;">237</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 style="border:none;margin:0cm;margin-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=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;">Nov-16</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;">1,340</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 style="border:none;margin:0cm;margin-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=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;">Jun-04</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;">165</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;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%;">(*) Solvency scope.</font></font><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="_Toc481589125"></a><a name="_Toc495478177"></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-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">
<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;line-height:115%;">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, 2020, 2019 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;line-height:115%;">8 </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, 2020, 2019 and 2018 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=32% style="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="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 lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=33% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=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=#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="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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:39.0pt;">
  <td width=32% 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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: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 style="font-size:7.0pt;">December 2020</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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</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:7.0pt;">2019</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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 width=13% 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;">Prevailing Interest Rate </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:7.0pt;">as of December 31, 2020</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Maturity</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:7.0pt;">Date</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=32% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=13% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=32% 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:8.0pt;">BANCO BILBAO
  VIZCAYA ARGENTARIA S.A.</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 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;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;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;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=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=#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;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=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">March-08</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:7.0pt;">EUR</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:7.0pt;">125</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:7.0pt;">125</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:7.0pt;">125</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 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=center style="border:none;margin:0cm;margin-bottom:.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;">03-Mar-33</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">July-08</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:7.0pt;">EUR</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:7.0pt;">100</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:7.0pt;">100</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:7.0pt;">100</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 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=center style="border:none;margin:0cm;margin-bottom:.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;">04-Jul-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">February-14</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:7.0pt;">EUR</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:7.0pt;">-</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:7.0pt;">-</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:7.0pt;">1,500</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 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=center style="border:none;margin:0cm;margin-bottom:.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;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">April-14</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:7.0pt;">EUR</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:7.0pt;">-</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:7.0pt;">-</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:7.0pt;">1,494</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 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=center style="border:none;margin:0cm;margin-bottom:.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-Apr-24</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">February-15</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:7.0pt;">EUR</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:7.0pt;">-</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: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=center style="border:none;margin:0cm;margin-bottom:.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;">1,500</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 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=center style="border:none;margin:0cm;margin-bottom:.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;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">April-16</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:7.0pt;">EUR</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: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=center style="border:none;margin:0cm;margin-bottom:.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;">1,000</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:7.0pt;">1,000</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 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=center style="border:none;margin:0cm;margin-bottom:.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;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">February-17</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:7.0pt;">EUR</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: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=center style="border:none;margin:0cm;margin-bottom:.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;">1,000</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:7.0pt;">1,000</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 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=center style="border:none;margin:0cm;margin-bottom:.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-Feb-27</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">February-17</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:7.0pt;">EUR</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:7.0pt;">165</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:7.0pt;">165</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:7.0pt;">165</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 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=center style="border:none;margin:0cm;margin-bottom:.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-Feb-32</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">May-17</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:7.0pt;">EUR</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:7.0pt;">150</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:7.0pt;">150</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:7.0pt;">150</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 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=center style="border:none;margin:0cm;margin-bottom:.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-May-27</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">May-17</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:7.0pt;">EUR</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:7.0pt;">500</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:7.0pt;">500</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:7.0pt;">500</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 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=center style="border:none;margin:0cm;margin-bottom:.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;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">September-18</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:7.0pt;">EUR</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: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=center style="border:none;margin:0cm;margin-bottom:.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;">1,000</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:7.0pt;">990</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 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=center style="border:none;margin:0cm;margin-bottom:.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;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">February-19</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:7.0pt;">EUR</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:7.0pt;">750</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:7.0pt;">750</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:7.0pt;">-</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 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=center style="border:none;margin:0cm;margin-bottom:.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;">22-Feb-29</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">March-19</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:7.0pt;">EUR</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: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=center style="border:none;margin:0cm;margin-bottom:.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;">1,000</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:7.0pt;">-</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 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=center style="border:none;margin:0cm;margin-bottom:.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;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">January-20</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:7.0pt;">EUR</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:7.0pt;">994</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:7.0pt;">-</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:7.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1.00%</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:7.0pt;">16-Jan-30</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">July-20</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:7.0pt;">EUR</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: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=center style="border:none;margin:0cm;margin-bottom:.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=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:7.0pt;">-</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 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=center style="border:none;margin:0cm;margin-bottom:.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;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Different issues</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:7.0pt;">EUR</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:7.0pt;">330</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:7.0pt;">379</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:7.0pt;">384</font></font></p>
  </td>
 <td nowrap width=13% 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=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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=32% style="background:#5AC4C4;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;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:7.0pt;">EUR</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:7.0pt;">8,113</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:7.0pt;">7,668</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:7.0pt;">8,906</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=32% style="background:#5AC4C4;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 issued in Euros</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:7.0pt;">EUR</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:7.0pt;">8,113</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:7.0pt;">7,668</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:7.0pt;">8,906</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.3pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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><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-198</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_439"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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:115%;">Outstanding as of December 31, 2020, 2019 and 2018 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=37% style="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="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 colspan=3 width=32% 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;">Millions of Euros</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=right style="border:none;margin:0cm;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, 2020</font></b></font></p>
  </td>
 <td nowrap width=10% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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>
 </tr>
<tr style="height:30.0pt;">
  <td width=37% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;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: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;">Currency</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:7.0pt;">December 2020</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2019</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: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;">December 2018</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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=center style="border:none;margin:0cm;margin-bottom:.0001pt;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;">Date</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=37% 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;"><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=37% 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;"><b><font color=black 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;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=10% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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:7.0pt;">&nbsp;</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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">98</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">105</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:7.0pt;">5.70%</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:7.0pt;">31-Mar-32</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">815</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">890</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:7.0pt;">873</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:7.0pt;">6.13%</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:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">243</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">260</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:7.0pt;">5.25%</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:7.0pt;">29-May-33</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">September-19</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;">815</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">890</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:7.0pt;">-</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:7.0pt;">6.50%</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:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=37% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1,970</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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=37% 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-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;">CHF</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">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:7.0pt;">1.60%</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:7.0pt;">24-May-27</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=37% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">19</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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=37% 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-20</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;">GBP</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">334</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3.10%</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:7.0pt;">15-Jul-31</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=37% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;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;">GBP</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">334</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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 nowrap valign=bottom width=37% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border: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 GLOBAL FINANCE
  LTD</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&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:7.0pt;">&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:7.0pt;">&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 style="font-size:7.0pt;">&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 style="font-size:7.0pt;">&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 style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">December-95</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;">162</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">169</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:7.0pt;">7.00%</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:7.0pt;">01-Dec-25</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=37% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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=37% 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;"><b><font color=black 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="height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="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=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=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: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=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=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=37% 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;">April-10</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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">874</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:7.0pt;">7.25%</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:7.0pt;">22-Apr-20</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">612</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">1,092</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:7.0pt;">6.50%</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:7.0pt;">10-Mar-21</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">1,223</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:7.0pt;">1,333</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:7.0pt;">1,311</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:7.0pt;">6.75%</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:7.0pt;">30-Sep-22</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">163</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">175</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:7.0pt;">5.35%</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:7.0pt;">12-Nov-29</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">815</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">889</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:7.0pt;">874</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:7.0pt;">5.13%</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:7.0pt;">18-Jan-33</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">September-19</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;">612</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">-</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:7.0pt;">5.88%</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:7.0pt;">13-Sep-34</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=37% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">3,425</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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 nowrap valign=bottom width=37% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border: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 URUGUAY</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&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:7.0pt;">&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:7.0pt;">&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 style="font-size:7.0pt;">&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 style="font-size:7.0pt;">&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 style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">Different issues</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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=37% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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=37% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border: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 S.A.
  (**)</font></b></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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=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:7.0pt;">-</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:7.0pt;">0.00%</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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">16</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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:7.0pt;">19</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:7.0pt;">6.75%</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:7.0pt;">05-Nov-21</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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-15</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;">20</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:7.0pt;">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:7.0pt;">6.70%</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:7.0pt;">18-Nov-22</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=37% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">37</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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=37% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border: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 USA (**)</font></b></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></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;"><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=37% 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-05</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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">203</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:7.0pt;">199</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:7.0pt;">5.50%</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:7.0pt;">01-Apr-20</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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-06</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;">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:7.0pt;">63</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:7.0pt;">62</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:7.0pt;">5.90%</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:7.0pt;">01-Apr-26</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=37% 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;">April-15</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;">570</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">623</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:7.0pt;">611</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3.88%</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:7.0pt;">10-Apr-25</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=37% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">628</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">889</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">872</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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: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: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: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;(**) The amount of 2020 is
recorded under the heading &#8220;Liabilities included in disposal groups classified
as held for sale&#8221;.</font></font><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_440"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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:115%;">Outstanding as of December 31, 2020, 2019 and 2018 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=31% 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=#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 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=#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=30% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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 nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 0cm 0cm 36.0pt;">
  <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;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 0cm 0cm 18.0pt;">
  <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;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=31% 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=#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=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=#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=30% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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 valign=bottom width=14% style="height:12.0pt;padding:0cm 0cm 0cm 36.0pt;">
  <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;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 0cm 0cm 36.0pt;">
  <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;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:52.5pt;">
  <td width=31% 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:7.0pt;">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:7.0pt;">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:7.0pt;">December 2020</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: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: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;">2019</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: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:7.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=14% 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: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, 2020</font></b></font></p>
  </td>
 <td width=15% 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: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 width=31% 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">BBVA COLOMBIA S.A.</font></b></font></p>
  </td>
 <td width=10% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=15% 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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:7.0pt;">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:7.0pt;">25</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:7.0pt;">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:7.0pt;">28</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">4.45%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Sep-21</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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:7.0pt;">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:7.0pt;">37</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:7.0pt;">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:7.0pt;">42</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">4.70%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Sep-26</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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:7.0pt;">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:7.0pt;">47</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:7.0pt;">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:7.0pt;">53</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">3.60%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Feb-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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:7.0pt;">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:7.0pt;">39</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:7.0pt;">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:7.0pt;">44</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">3.89%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Feb-28</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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:7.0pt;">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:7.0pt;">21</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:7.0pt;">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:7.0pt;">24</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">4.38%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Nov-29</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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:7.0pt;">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:7.0pt;">30</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:7.0pt;">34</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:7.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">4.50%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Nov-34</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=31% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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:7.0pt;">COP</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">200</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">229</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">234</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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 valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">April-15</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:7.0pt;">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:7.0pt;">324</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:7.0pt;">333</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:7.0pt;">332</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">4.88%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Apr-25</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=31% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">324</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">333</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">332</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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 width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">BBVA BANCO
  CONTINENTAL S.A.</font></b></font></p>
  </td>
 <td width=10% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">June-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:7.0pt;">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:7.0pt;">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:7.0pt;">22</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:7.0pt;">20</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">3.47%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Jun-32</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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:7.0pt;">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:7.0pt;">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:7.0pt;">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:7.0pt;">18</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">3.56%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Nov-32</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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:7.0pt;">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:7.0pt;">15</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:7.0pt;">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:7.0pt;">16</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">3.06%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">08-Jul-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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:7.0pt;">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:7.0pt;">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:7.0pt;">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:7.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">3.09%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">09-Sep-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">December-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:7.0pt;">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:7.0pt;">9</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:7.0pt;">11</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:7.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">4.19%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Dec-33</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=31% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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:7.0pt;">PEN</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">82</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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 valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">May-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:7.0pt;">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:7.0pt;">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:7.0pt;">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:7.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">6.00%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-May-27</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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:7.0pt;">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:7.0pt;">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:7.0pt;">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:7.0pt;">18</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">6.47%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Feb-28</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">October-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:7.0pt;">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:7.0pt;">37</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:7.0pt;">41</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:7.0pt;">40</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">6.53%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">02-Oct-28</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">September-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:7.0pt;">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:7.0pt;">257</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:7.0pt;">269</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:7.0pt;">252</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">5.25%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Sep-29</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=31% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">327</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">346</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">328</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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 width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">GARANTI BBVA AS</font></b></font></p>
  </td>
 <td width=10% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">May-17</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:7.0pt;">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:7.0pt;">607</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:7.0pt;">664</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:7.0pt;">652</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">6.13%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=31% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">607</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">664</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">652</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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 valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">October-19</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:7.0pt;">TRY</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:7.0pt;">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:7.0pt;">38</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:7.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">16.00%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">07-Oct-29</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">February-20</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:7.0pt;">TRY</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:7.0pt;">82</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:7.0pt;">-</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:7.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">17.95%</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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-Feb-30</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=31% style="background:#5AC4C4;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=10% style="background:#5AC4C4;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:7.0pt;">TRY</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">110</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=10% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=14% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=31% style="background:#5AC4C4;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Total issues in
  other currencies (millions of Euros)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:27.0pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">8,217</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">9,376</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">8,292</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:27.0pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:27.0pt;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:7.0pt;">&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;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


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<p 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:115%;">Outstanding as of December 31, 2020, 2019 and 2018 of subordinated
issues (Millions of euros)</font></b></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="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: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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">December 2020</font></b></font></p>
  </td>
 <td colspan=2 nowrap 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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">December 2019</font></b></font></p>
  </td>
 <td colspan=2 nowrap 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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">December 2018</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=#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=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-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;">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 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">BBVA COLOMBIA S.A.</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 11.0pt;">
  <p style="border:none;margin:0cm;margin-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;">-</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>
 </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;"><b><font color=black 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 11.0pt;">
  <p style="border:none;margin:0cm;margin-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;">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;">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>
 </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;"><b><font color=black 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:12.75pt;">
  <td valign=bottom 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:7.0pt;">November-00</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;">USD</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;">17</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;">USD</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;">19</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;">USD</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;">18</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=46% 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">CAIXA TERRASSA
  SOCIETAT DE PARTICIPACIONS PREFERENTS SAU</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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: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;">74</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>
 </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;"><b><font color=black 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 11.0pt;">
  <p style="border:none;margin:0cm;margin-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;">85</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>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height: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="_Toc481589126"></a><a name="_Toc495478178"></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-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><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_442"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;line-height:115%;">APPENDIX VII Consolidated balance sheets held in foreign currency
as of December 31, </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;line-height:115%;">2020, 2019 and 2018</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;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 2020
  (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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></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;">16,615</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;">4,847</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;">772</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;">4,130</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;">26,365</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;">5,114</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;">22,154</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:7.0pt;">359</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;">6,112</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;">33,740</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;">883</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;">3,369</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;">7</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;">291</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;">4,549</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;">7,073</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;">7,723</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;">2,489</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;">8,087</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;">25,373</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;">39,841</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;">53,184</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;">26,810</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;">38,036</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;">157,871</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;">14</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;">246</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;">265</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;">15</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;">1,819</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;">858</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;">852</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;">3,544</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap valign=bottom width=30% 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;">Other assets</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;">83,406</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;">2,053</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;">1,191</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;">2,009</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;">88,658</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=30% style="background:#5AC4C4;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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">152,953</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">95,163</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">32,486</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">59,764</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">340,366</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;">4,562</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;">18,489</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;">471</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;">772</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;">24,295</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;">67,165</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;">54,429</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;">18,930</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;">43,468</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;">183,993</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;">Other liabilities</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;">78,724</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;">6,662</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;">687</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;">7,393</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;">93,466</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=30% style="background:#5AC4C4;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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">150,452</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">79,580</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">20,088</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">51,633</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">301,753</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_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;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: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;">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 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: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;">107,865</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;">56,963</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;">29,125</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:7.0pt;">35,906</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;">229,859</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;">20</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;">252</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;">277</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;">921</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;">2,214</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;">1,050</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;">1,026</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;">5,211</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;">Other 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;">1,946</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;">2,147</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:7.0pt;">1,174</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;">5,508</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:7.0pt;">10,775</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=30% style="background:#5AC4C4;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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: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;"><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=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: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;">136,661</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;">54,733</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;">20,681</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;">36,758</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;">248,834</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;">Other liabilities</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;">5,555</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;">6,757</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;">881</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;">8,172</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;">21,365</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=30% style="background:#5AC4C4;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>



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&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>


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<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;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: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;">15,184</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">6,869</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">476</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;">5,547</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;">28,076</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;">3,133</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">15,500</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">366</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;">3,614</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;">22,614</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;">Non- trading
  financial assets mandatorily at fair value through profit or loss</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;">650</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;">2,303</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</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;">58</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;">3,014</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 at fair value through comprehensive income</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;">16,566</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;">4,704</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;">3,031</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;">2,931</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;">27,232</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;">Financial
  assets at amortized cost</font></font></p>
  </td>
 <td nowrap width=14% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">101,366</font></font></p>
  </td>
 <td nowrap width=14% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">47,550</font></font></p>
  </td>
 <td nowrap width=14% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">28,094</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;">34,075</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;">211,085</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;">Joint-ventures and
  associates</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">54</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</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;">267</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;">326</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;">670</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,964</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,007</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;">850</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;">4,490</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;">Other 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;">3,444</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;">2,911</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;">1,361</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;">2,879</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;">10,595</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=30% style="background:#5AC4C4;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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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: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=#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: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;"><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 valign=bottom width=30% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Liabilities </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;">-</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;">-</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;">-</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;">-</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;">-</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 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;">2,372</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;">13,626</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;">360</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;">1,507</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;">17,864</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;">136,307</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">48,169</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">20,878</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;">37,342</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;">242,696</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;">Other liabilities</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;">3,874</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;">6,081</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;">750</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;">7,200</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;">17,904</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=30% style="background:#5AC4C4;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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>



<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%;">This Appendix is an integral part of Notes 2.2.15 of the
consolidated financial statements for the year ended December 31, 2020.</font></font></p>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>



<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc505356001"></a><a name="_Toc495478180"></a><a name="_Toc481589129"></a></p>
<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-203</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_444"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p 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 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:115%;">APPENDIX VIII.&#160;&#160;&#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:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face="BBVA Office Light,sans-serif" style="border:none;"><b><font color=#004580 face="BBVA Office Light,sans-serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">a) </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;line-height:115%;">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, 2020, 2019 and 2018 is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_001a" style="border-collapse:collapse;width:100%;">
 <tr style="height:19.5pt;">
  <td valign=bottom width=25% style="border:none;border-right:solid white 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=75% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">DECEMBER 2020 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=25% style="border:none;border-right:solid white 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=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=75% style="border-bottom:solid #072146 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">TOTAL</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=25% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Unsecured
  loans</font></b></font></p>
  </td>
 <td colspan=4 width=41% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Secured
  loans</font></b></font></p>
  </td>
 <td rowspan=3 width=13% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:none;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=25% style="border:none;border-right:solid white 1.0pt;height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:none;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=19% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=25% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Number
  of operations</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Gross
  carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Number
  of operations</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Gross
  carrying amount</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Real
  estate mortgage secured</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Rest
  of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=9% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">General Governments</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">67</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">77</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">69</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">62</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">45</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">519</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">10</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">22</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">2</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">111.648</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">5,592</font></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">11.343</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">3,182</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,911</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">3,128</font></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=25% style="background:white;border:none;border-bottom:solid white 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSans style="border:none;"><i><font color=#666666 face=BBVABentonSans 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">624</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">500</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,081</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">622</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">370</font></i></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">8</font></i></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">420</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=25% style="background:white;border:none;border-left:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">Other households (*)</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">261,097</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,782</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">86,643</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">5,992</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">4,379</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">27</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,712</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=25% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">373,331</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">7,460</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">98,077</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">9,239</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">6,337</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">60</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">4,859</font></b></font></p>
  </td>
 </tr>
</table></div>



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<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_001b" style="border-collapse:collapse;width:100%;">
 <tr style="height:17.25pt;">
  <td nowrap valign=bottom width=25% style="height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:10.0pt;">&nbsp;</font></font></p>
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 <td colspan=7 width=75% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=25% style="border:none;border-right:solid white 1.0pt;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border-bottom:solid #072146 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Unsecured
  loans</font></b></font></p>
  </td>
 <td colspan=4 width=41% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Secured
  loans</font></b></font></p>
  </td>
 <td rowspan=3 width=13% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:none;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=25% style="border:none;border-right:solid white 1.0pt;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:none;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=19% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=25% style="border:none;border-right:solid white 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Number
  of operations</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Gross
  carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Number
  of operations</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Gross
  carrying amount</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Real
  estate mortgage secured</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Rest
  of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=9% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">General Governments</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">39</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">36</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">29</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">20</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">12</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">283</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">11</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">67.588</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">3,470</font></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">6.880</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,939</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">916</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">2,727</font></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=25% style="background:white;border:none;border-bottom:solid white 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSans style="border:none;"><i><font color=#666666 face=BBVABentonSans 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">469</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">216</font></i></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">674</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">408</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">197</font></i></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">8</font></i></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">311</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=25% style="background:white;border:none;border-left:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">Other households (*)</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">113,013</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">765</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">37,063</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">2,805</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,820</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,358</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=25% style="background:#5AC4C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">180,923</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">4,274</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">43,983</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">4,765</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">2,750</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">30</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">4,100</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160; Number of operations does not include Garanti BBVA.</font></font></p>

<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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 align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_003a" style="border-collapse:collapse;width:100%;">
 <tr style="height:19.5pt;">
  <td nowrap valign=bottom width=25% style="border:none;border-right:solid white 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=75% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=25% style="border:none;border-right:solid white 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=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=75% style="border-bottom:solid #072146 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">TOTAL</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=25% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Unsecured
  loans</font></b></font></p>
  </td>
 <td colspan=4 width=41% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Secured
  loans</font></b></font></p>
  </td>
 <td rowspan=3 width=13% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:none;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=25% style="border:none;border-right:solid white 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:none;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=19% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=25% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Number
  of operations</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Gross
  carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Number
  of operations</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Gross
  carrying amount</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Real
  estate mortgage secured</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Rest
  of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">General Governments</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">73</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">93</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">64</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">49</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">387</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td width=11% style="height:18.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">62</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">4</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">68,121</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">5,085</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">18,283</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">3,646</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,810</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">178</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">3,252</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=25% style="background:white;border:none;border-bottom:solid white 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=BBVABentonSans style="border:none;"><i><font color=#666666 face=BBVABentonSans 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">1.131</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">400</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,314</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">688</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">393</font></i></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">32</font></i></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">428</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=25% style="background:white;border:none;border-left:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">Other households (*)</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">173,403</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,510</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">67,513</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">5,827</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">4,414</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,519</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=25% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">241,984</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">6,696</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">85,922</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">9,541</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">6,276</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">211</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">4,788</font></b></font></p>
  </td>
 </tr>
</table></div>



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<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>


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<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_003b" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td nowrap valign=bottom width=25% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=75% style="border-bottom:solid #072146 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=25% style="border:none;border-right:solid white 1.0pt;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border-bottom:solid #072146 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Unsecured
  loans</font></b></font></p>
  </td>
 <td colspan=4 width=41% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Secured
  loans</font></b></font></p>
  </td>
 <td rowspan=3 width=13% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:none;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=25% style="border:none;border-right:solid white 1.0pt;height:30.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:none;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=19% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=25% style="border:none;border-right:solid white 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Number
  of operations</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Gross
  carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Number
  of operations</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Gross
  carrying amount</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Real
  estate mortgage secured</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Rest
  of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">General Governments</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">45</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">30</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">21</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">241</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">30</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=25% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">39.380</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">3,148</font></font></p>
  </td>
 <td width=11% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">11.706</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">2,466</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,020</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">2,923</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=25% style="background:white;border:none;border-bottom:solid white 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=BBVABentonSans style="border:none;"><i><font color=#666666 face=BBVABentonSans 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">819</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">321</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">790</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">445</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">210</font></i></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">4</font></i></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">392</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=25% style="background:white;border:none;border-left:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">Other households (*)</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">96,429</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">758</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">34,463</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">2,908</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">2,096</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,229</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=25% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">136,095</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">3,954</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">46,229</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">5,396</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">3,044</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">67</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">4,164</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160; Number of operations does not include Garanti BBVA.</font></font></p>

<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">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>


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<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_004aanual" style="border-collapse:collapse;width:100%;">
 <tr style="height:19.5pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-right:solid white 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=74% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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="border:none;border-right:solid white 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=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=74% style="border-bottom:solid #072146 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">TOTAL</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=26% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=20% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Unsecured
  loans</font></b></font></p>
  </td>
 <td colspan=4 width=41% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Secured
  loans</font></b></font></p>
  </td>
 <td rowspan=3 width=13% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:none;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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="border:none;border-right:solid white 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:none;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=19% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Number
  of operations</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Gross
  carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Number
  of operations</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Gross
  carrying amount</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Real
  estate mortgage secured</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Rest
  of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=10% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">General Governments</font></font></p>
  </td>
 <td width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">75</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">111</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">52</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=26% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">Other financial
  corporations and individual entrepreneurs (financial business)</font></font></p>
  </td>
 <td width=10% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">252</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td width=11% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=26% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">Non-financial
  corporations and individual entrepreneurs (corporate non-financial
  activities)</font></font></p>
  </td>
 <td width=10% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">44.271</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">2,200</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">221</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">3,148</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=26% style="background:white;border:none;border-bottom:solid white 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=BBVABentonSans style="border:none;"><i><font color=#666666 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">Of which: financing
  the construction and property (including land)</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">734</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">501</font></i></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">12</font></i></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">517</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=26% style="background:white;border:none;border-left:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">Other households (*)</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">193.061</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,326</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">355.466</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">6,990</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">5,083</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">150</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,716</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=26% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">237.659</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">5,933</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">400,365</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">11,236</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">7,338</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">371</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">4,885</font></b></font></p>
  </td>
 </tr>
</table></div>



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&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>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_449"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_004banual" 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=74% style="border-bottom:solid #072146 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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="border:none;border-right:solid white 1.0pt;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=20% style="border-bottom:solid #072146 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Unsecured
  loans</font></b></font></p>
  </td>
 <td colspan=4 width=41% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Secured
  loans</font></b></font></p>
  </td>
 <td rowspan=3 width=13% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:none;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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="border:none;border-right:solid white 1.0pt;height:30.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:none;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=19% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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="border:none;border-right:solid white 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Number
  of operations</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Gross
  carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Number
  of operations</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Gross
  carrying amount</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Real
  estate mortgage secured</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #072146 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:6.0pt;">Rest
  of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=26% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=10% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=26% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">General Governments</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">46</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">65</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=26% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">Other financial
  corporations and individual entrepreneurs (financial business)</font></font></p>
  </td>
 <td width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">133</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=13% style="background:white;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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=26% style="background:white;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">Non-financial
  corporations and individual entrepreneurs (corporate non-financial
  activities)</font></font></p>
  </td>
 <td width=10% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">25.420</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">1,192</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">100</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">2,773</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=26% style="background:white;border:none;border-bottom:solid white 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=BBVABentonSans style="border:none;"><i><font color=#666666 face=BBVABentonSans lang=EN-US style="font-size:6.0pt;">Of which:
  financing the construction and property (including land)</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">631</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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">254</font></i></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">1</font></i></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:6.0pt;">477</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="background:white;border:none;border-left:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">Other households (*)</font></font></p>
  </td>
 <td width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">116.916</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">741</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">42.403</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">3,673</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">2,435</font></font></p>
  </td>
 <td width=9% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:6.0pt;">26</font></font></p>
  </td>
 <td width=13% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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 white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">142.515</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">3,533</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">81,657</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">6,470</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">3,636</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:6.0pt;">126</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight 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:0cm;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;line-height:115%;">(*)&#160; Number
of operations does not include Garanti BBVA.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><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 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>


<DIV bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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">
<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'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, 2020, 2019 and 2018:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_181" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=3 nowrap width=81% 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=BBVABentonSansLight style="border:none;"><font color=#02A5A5 face=BBVABentonSansLight lang=EN-US style="font-size:8.0pt;">Forbearance
  operations. Breakdown by segments (Millions of Euros)</font></font></p>
  </td>
 <td nowrap width=19% style="background:#E9E9E9;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><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></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td nowrap width=41% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:23.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=BBVABentonSans style="border:none;"><b><font color=#0A5FB4 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">December
  2020</font></b></font></p>
  </td>
 <td width=20% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">December
  2019</font></b></font></p>
  </td>
 <td width=19% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">December
  2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=41% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Central governments</font></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">124</font></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">147</font></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">160</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Other financial
  corporations and individual entrepreneurs (financial activity)</font></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">13</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td valign=bottom width=41% style="border:none;border-bottom:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Non-financial
  corporations and individual entrepreneurs (non-financial activity)</font></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">5,645</font></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">5,479</font></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">5,512</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=41% style="background:white;border:none;border-bottom:solid white 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSans style="border:none;"><i><font color=#666666 face=BBVABentonSans 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 valign=bottom 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:8.0pt;">701</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:8.0pt;">660</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><i><font color=black face=BBVABentonSans style="font-size:8.0pt;">702</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Households</font></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">6,062</font></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">5,818</font></font></p>
  </td>
 <td nowrap valign=bottom 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">6,600</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=41% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight 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 white 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">11,840</font></b></font></p>
  </td>
 <td nowrap width=20% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">11,450</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">12,284</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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans 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 valign=bottom 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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">858</font></font></p>
  </td>
 <td nowrap valign=bottom 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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td nowrap valign=bottom 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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=left style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:left;"><font 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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_451"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;line-height:115%;">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, 2020 and December 31, 2019, 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" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td nowrap width=68% 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=BBVABentonSans style="border:none;"><font color=#02A5A5 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">December 2020.
  NPL ratio renegotiated loan portfolio</font></font></p>
  </td>
 <td nowrap width=32% style="background:#E9E9E9;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=BBVABentonSans style="border:none;"><font color=#02A5A5 face=BBVABentonSans 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-bottom:solid #004481 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face="BBVA Office Light,sans-serif" style="border:none;"><b><font color=#0A5FB4 face="BBVA Office Light,sans-serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=32% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=BBVABentonSansLight style="border:none;"><b><font color=#072146 face=BBVABentonSansLight 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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">General
  governments</font></font></p>
  </td>
 <td nowrap valign=bottom 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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">40%</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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">Commercial</font></font></p>
  </td>
 <td nowrap valign=bottom 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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">62%</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="BBVA Office Light,sans-serif" style="border:none;"><i><font color=black face="BBVA Office Light,sans-serif" lang=EN-US style="font-size:8.0pt;">Of
  which: Construction and developer</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">56%</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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">Other
  consumer</font></font></p>
  </td>
 <td nowrap valign=bottom 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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">46%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=68% 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=BBVABentonSans style="border:none;"><font color=#02A5A5 face=BBVABentonSans 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;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=BBVABentonSans style="border:none;"><font color=#02A5A5 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:31.5pt;">
  <td nowrap width=68% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:31.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face="BBVA Office Light,sans-serif" style="border:none;"><b><font color=#0A5FB4 face="BBVA Office Light,sans-serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=32% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=BBVABentonSansLight style="border:none;"><b><font color=#072146 face=BBVABentonSansLight 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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">General
  governments</font></font></p>
  </td>
 <td nowrap valign=bottom 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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">Commercial</font></font></p>
  </td>
 <td nowrap valign=bottom 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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,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="BBVA Office Light,sans-serif" style="border:none;"><i><font color=#666666 face="BBVA Office Light,sans-serif" lang=EN-US style="font-size:8.0pt;">Of
  which: Construction and developer</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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="BBVA Office Light,sans-serif" style="border:none;"><i><font color=black face="BBVA Office Light,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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">Other
  consumer</font></font></p>
  </td>
 <td nowrap valign=bottom 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="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">50%</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=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-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">
<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;text-indent:0cm;"><font color=#004580 face="BBVA Office Light,sans-serif" style="border:none;"><b><font color=#004580 face="BBVA Office Light,sans-serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">b) </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;line-height:115%;">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" 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=BBVABentonSansLight style="border:none;"><font color=#02A5A5 face=BBVABentonSansLight style="font-size:8.0pt;">December 2020
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=34% style="background:white;border-bottom:none;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=7% style="background:white;border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="background:white;border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=8% style="background:white;border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=BBVABentonSans style="border:none;"><font color=#072146 face=BBVABentonSans style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=42% 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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Loans to customers. Loan to value </font></b></font></p>
  </td>
 </tr>
<tr style="height:56.25pt;">
  <td nowrap width=34% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:56.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face="BBVA Office Light,sans-serif" style="border:none;"><b><font color=#0A5FB4 face="BBVA Office Light,sans-serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Total
  (*)</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Mortgage
  loans</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Secured
  loans</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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 #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Over
  100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">19,718</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">372</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,451</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">390</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">546</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">135</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">714</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">39</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=34% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Other financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">17,662</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">200</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">9,596</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">166</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,585</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">2,610</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">5,146</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">289</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=34% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">143,693</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">23,686</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">4,082</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">8,294</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">7,162</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">4,467</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">3,200</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">4,646</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Construction and
  property development </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">4,379</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">3,244</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">1,048</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">1,015</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">678</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">263</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">321</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">6,810</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">641</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">279</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">274</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">194</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">97</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">48</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">306</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Other purposes</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">132,504</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">19,801</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">3,721</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">6,972</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">5,953</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">3,691</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">2,888</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">4,019</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Large companies </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">79,595</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">6,648</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">1,920</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">2,561</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">1,811</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">1,242</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">1,012</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">1,943</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">52,909</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">13,154</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">1,801</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">4,411</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">4,142</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">2,449</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">1,877</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">2,076</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Rest of households
  and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">137,870</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">92,555</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,836</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">19,606</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">24,126</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">27,130</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">15,463</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">8,066</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Housing </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">94,098</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">90,756</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">131</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">18,743</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">23,719</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">26,817</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">13,960</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">7,648</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Consumption </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">39,442</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">418</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">1,521</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">246</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">190</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">139</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">1,245</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">118</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Other purposes </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">4,331</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">1,381</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">184</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">617</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">216</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">174</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">257</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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=gray face=BBVABentonSans style="border:none;"><font color=gray face=BBVABentonSans style="font-size:8.0pt;">301</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">318,943</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">116,813</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">16,966</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">28,456</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">33,419</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">34,343</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">24,522</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">13,039</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><i><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">MEMORANDUM ITEM:</font></i></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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 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:12.75pt;">
  <td width=34% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><i><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=BBVABentonSansLight style="border:none;"><i><font color=gray face=BBVABentonSansLight style="font-size:8.0pt;">11,840</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=BBVABentonSansLight style="border:none;"><i><font color=gray face=BBVABentonSansLight style="font-size:8.0pt;">7,271</font></i></font></p>
  </td>
 <td nowrap width=8% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=BBVABentonSansLight style="border:none;"><i><font color=gray face=BBVABentonSansLight style="font-size:8.0pt;">74</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=BBVABentonSansLight style="border:none;"><i><font color=gray face=BBVABentonSansLight style="font-size:8.0pt;">1,350</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=BBVABentonSansLight style="border:none;"><i><font color=gray face=BBVABentonSansLight style="font-size:8.0pt;">1,408</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=BBVABentonSansLight style="border:none;"><i><font color=gray face=BBVABentonSansLight style="font-size:8.0pt;">1,587</font></i></font></p>
  </td>
 <td nowrap width=8% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=BBVABentonSansLight style="border:none;"><i><font color=gray face=BBVABentonSansLight style="font-size:8.0pt;">1,165</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=BBVABentonSansLight style="border:none;"><i><font color=gray face=BBVABentonSansLight style="font-size:8.0pt;">1,834</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;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;&#160;&#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:0cm;margin-right:33.75pt;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;&#160;&#160;&#160;&#160; Small and medium enterprises.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;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;&#160;&#160;&#160;Nonprofit institutions serving households.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(****)&#160;&#160;&#160;&#160; Net of
provisions. </font></font></p>

<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:107%;">&nbsp;</font></font></p>


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</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_453"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_033" 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=BBVABentonSansLight style="border:none;"><font color=#02A5A5 face=BBVABentonSansLight style="font-size:8.0pt;">December 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=top width=34% style="background:white;border-bottom:none;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top: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 valign=top width=7% style="background:white;border:none;border-right:solid white 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=BBVABentonSans style="border:none;"><font color=#004481 face=BBVABentonSans style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="background:white;border:none;border-right:solid white 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=BBVABentonSans style="border:none;"><font color=#004481 face=BBVABentonSans style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=8% style="background:white;border:none;border-right:solid white 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=BBVABentonSans style="border:none;"><font color=#004481 face=BBVABentonSans style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=42% style="border:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Loans to customers. Loan to value </font></b></font></p>
  </td>
 </tr>
<tr style="height:60.0pt;">
  <td nowrap width=34% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:60.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face="BBVA Office Light,sans-serif" style="border:none;"><b><font color=#0A5FB4 face="BBVA Office Light,sans-serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Total
  (*)</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Mortgage
  loans</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Secured
  loans</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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 #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Over
  100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">29,257</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,067</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">10,886</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">4,914</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,510</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,077</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">3,651</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">801</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">&#160;Other financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">23,114</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">281</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">13,699</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,856</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">219</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">103</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">11,688</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">115</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=34% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">&#160;Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">176,474</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">26,608</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">30,313</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">22,901</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">10,082</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">8,478</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">5,270</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">10,190</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">&#160;Construction and
  property development </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">15,171</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">4,497</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,114</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,313</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,765</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,476</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">457</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">600</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">&#160;Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">7,146</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">756</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">468</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">499</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">248</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">152</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">106</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">219</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">&#160;Other purposes</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">154,157</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">21,355</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">27,731</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">20,089</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">8,069</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">6,850</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">4,707</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">9,371</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">&#160;Large companies </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">104,661</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">8,665</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">19,058</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">12,647</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,620</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,828</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,727</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">4,901</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">&#160;SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">49,496</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">12,690</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">8,673</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">7,442</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">4,449</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,022</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,980</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">4,470</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Rest of households
  and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">167,117</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">108,031</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">5,582</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">23,057</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">27,714</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">32,625</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">20,529</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">9,688</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">&#160;Housing &nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">110,178</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">104,796</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,332</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">20,831</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">26,639</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">31,707</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">18,701</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">9,250</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:white;border:none;border-right:solid white 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=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">&#160;Consumption &nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">46,356</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">507</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,075</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">450</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">316</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">174</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,502</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">140</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">&#160;Other purposes </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">10,583</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,728</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,175</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,776</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">759</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">744</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">326</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">298</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">&#160;TOTAL&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">395,962</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">135,987</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">60,480</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">52,728</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">39,525</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">42,283</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">41,138</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">20,794</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=#666666 face=BBVABentonSansLight style="border:none;"><i><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">MEMORANDUM ITEM:</font></i></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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 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:12.75pt;">
  <td width=34% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><i><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Forbearance operations
  (****)</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">11,450</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">7,396</font></i></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">256</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,547</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,427</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,572</font></i></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,247</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight 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:0cm;margin-right:33.75pt;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;&#160;&#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:0cm;margin-right:33.75pt;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;&#160;&#160;&#160;&#160; Small and medium enterprises.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;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;&#160;&#160;&#160;Nonprofit institutions serving households.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(****)&#160;&#160;&#160;&#160; Net of
provisions. </font></font></p>

<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:107%;">&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-213</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_454"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_034anual" 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=BBVABentonSansLight style="border:none;"><font color=#02A5A5 face=BBVABentonSansLight style="font-size:8.0pt;">December 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=top width=35% style="background:white;border-bottom:none;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top: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 valign=top width=7% style="background:white;border:none;border-right:solid white 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=BBVABentonSans style="border:none;"><font color=#004481 face=BBVABentonSans style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="background:white;border:none;border-right:solid white 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=BBVABentonSans style="border:none;"><font color=#004481 face=BBVABentonSans style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=8% style="background:white;border:none;border-right:solid white 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=BBVABentonSans style="border:none;"><font color=#004481 face=BBVABentonSans style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=41% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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="BBVA Office Light,sans-serif" style="border:none;"><b><font color=#072146 face="BBVA Office Light,sans-serif" lang=EN-US style="font-size:8.0pt;">Loans to customers. Loan to value </font></b></font></p>
  </td>
 </tr>
<tr style="height:60.0pt;">
  <td nowrap width=35% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:60.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face="BBVA Office Light,sans-serif" style="border:none;"><b><font color=#0A5FB4 face="BBVA Office Light,sans-serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Total
  (*)</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Mortgage
  loans</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Secured
  loans</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #004481 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #004481 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans 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 #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #004481 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid #004481 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=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Over
  100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">&#160;General governments</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">30,488</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,056</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">7,750</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,729</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,856</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,119</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">3,514</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">588</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">&#160;Other financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">20,802</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">233</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">12,549</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,167</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">221</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">93</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">11,209</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">92</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">173,493</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">29,001</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">32,371</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">25,211</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">11,121</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">9,793</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">5,087</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">10,160</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Construction and
  property development </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">14,323</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">5,226</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,539</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,979</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,556</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,140</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">486</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">605</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">&#160;Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">7,775</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,082</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">620</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">703</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">285</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">195</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">200</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">319</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Other purposes</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">151,394</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">22,694</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">29,212</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">22,529</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">8,281</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">7,459</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">4,401</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">9,235</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">&#160;Large companies </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">97,132</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">9,912</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">19,069</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">13,918</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,979</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">4,019</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,245</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">4,820</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">54,262</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">12,782</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">10,143</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">8,611</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">4,302</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,440</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,156</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">4,416</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Rest of households
  and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">163,068</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">109,578</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">5,854</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">21,974</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">27,860</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">33,200</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">21,490</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">10,908</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Housing </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">111,007</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">105,817</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,419</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">19,981</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">26,384</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">32,122</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">19,345</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">10,404</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="background:white;border:none;border-right:solid white 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=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Consumption </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">40,124</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">522</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,600</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">489</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">587</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">306</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,597</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">142</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Other purposes </font></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">11,938</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,239</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">835</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,505</font></font></p>
  </td>
 <td nowrap width=10% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">888</font></font></p>
  </td>
 <td nowrap width=9% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">772</font></font></p>
  </td>
 <td nowrap width=8% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">547</font></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">362</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=35% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">&#160;TOTAL&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">387,850</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">139,868</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">58,524</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">50,082</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">41,058</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">44,206</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">41,300</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">21,747</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><i><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">MEMORANDUM ITEM:</font></i></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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&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 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:12.75pt;">
  <td width=35% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><i><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">12,284</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">8,325</font></i></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">523</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,508</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:white;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 face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,421</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:white;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 face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,769</font></i></font></p>
  </td>
 <td nowrap width=8% style="background:white;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 face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,527</font></i></font></p>
  </td>
 <td nowrap width=7% style="background:white;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 face=BBVABentonSansLight style="border:none;"><i><font color=black face=BBVABentonSansLight 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:0cm;margin-right:33.75pt;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;&#160;&#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:0cm;margin-right:33.75pt;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;&#160;&#160;&#160;&#160; Small and medium enterprises.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;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;&#160;&#160;&#160;Nonprofit institutions serving households.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(****)&#160;&#160;&#160;&#160; Net of
provisions. </font></font></p>

<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:107%;">&nbsp;</font></font></p>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-214</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_455"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;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:8.0pt;line-height:115%;">The information on the main geographic area is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_031dic_SEC1_F_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=#2DCCCD face=Arial,sans-serif style="border:none;"><font color=#2DCCCD face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December 2020
  (Millions of Euros) BBVA, S.A.</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td valign=top width=28% style="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;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="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;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="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;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="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;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=45% style="border:none;border-bottom:solid #004481 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Loans to customers. Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:54.0pt;">
  <td nowrap width=28% style="border:none;border-bottom:solid #004481 1.0pt;height:54.0pt;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 #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 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 #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 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 #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">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;">13,621</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;">318</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;">500</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;">75</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;">176</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;">50</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;">511</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;">6</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td nowrap valign=bottom width=28% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13,650</font></font></p>
  </td>
 <td nowrap width=9% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,301</font></font></p>
  </td>
 <td nowrap width=9% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,418</font></font></p>
  </td>
 <td nowrap width=9% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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: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;">5,138</font></font></p>
  </td>
 <td nowrap width=9% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">274</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap valign=bottom width=28% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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: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:8.0pt;">79,490</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,561</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,965</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,479</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,766</font></font></p>
  </td>
 <td nowrap 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 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=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 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: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:8.0pt;">1,318</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">2,007</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;">1,831</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">290</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;">
  <td nowrap width=28% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,575</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:8.0pt;">586</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">274</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=#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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">72,907</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,144</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,431</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,950</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,583</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">992</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">47,373</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,473</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">692</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,011</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">895</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">530</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">509</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">25,534</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,671</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,421</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,055</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,053</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">484</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">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;">90,376</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">74,201</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">372</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16,173</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">19,714</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">21,424</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,489</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,773</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">75,166</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">73,087</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">112</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,859</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">19,433</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">21,181</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,260</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,466</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">12,149</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:13.5pt;">
  <td nowrap width=28% 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 purposes </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:8.0pt;">3,061</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:8.0pt;">1,026</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:8.0pt;">96</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:8.0pt;">252</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:8.0pt;">210</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:8.0pt;">166</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:8.0pt;">217</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:8.0pt;">278</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% style="background:#5AC4C4;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=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">197,137</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">85,243</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">12,137</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">20,761</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">25,074</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">26,036</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">17,139</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">8,371</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">MEMORANDUM ITEM:</font></i></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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">7,818</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;">5,663</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;">40</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;">991</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;">982</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;">1,186</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;">860</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;">1,683</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160;&#160;&#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:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(**)&#160;&#160;&#160;&#160;&#160; Small
and medium enterprises</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(***)&#160;&#160;&#160; Nonprofit
institutions serving households.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(****)&#160;&#160; Net of
provisions. </font></font></p>

<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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-215</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_456"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_031dic_SEC2_F_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=#2DCCCD face=Arial,sans-serif style="border:none;"><font color=#2DCCCD face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December 2020 (Millions of Euros) BBVA Mexico</font></font></p>
  </td>
 </tr>
<tr style="height:32.25pt;">
  <td valign=top width=28% style="height:32.25pt;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 lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:32.25pt;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 lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:32.25pt;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 lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:32.25pt;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 lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=45% style="border:none;border-bottom:solid #004481 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans to customers. Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:54.0pt;">
  <td nowrap width=28% style="border:none;border-bottom:solid #004481 1.0pt;height:54.0pt;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 #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 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 #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 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 #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">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;">4,668</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;">53</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;">938</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;">315</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;">369</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;">85</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;">203</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;">19</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,480</font></font></p>
  </td>
 <td nowrap 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 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:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap 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 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:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap 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 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:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap 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 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:24.0pt;">
  <td nowrap valign=bottom width=28% style="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:8.0pt;">Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">21,609</font></font></p>
  </td>
 <td nowrap width=9% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,459</font></font></p>
  </td>
 <td nowrap width=9% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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=9% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,087</font></font></p>
  </td>
 <td nowrap width=9% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,492</font></font></p>
  </td>
 <td nowrap width=9% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">933</font></font></p>
  </td>
 <td nowrap width=9% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">768</font></font></p>
  </td>
 <td nowrap width=9% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">718</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">850</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">746</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=28% 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=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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=28% 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;">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;">20,657</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,697</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,926</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,264</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,611</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,469</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">425</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">9,045</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,228</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=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,273</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">372</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">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;">21,699</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;">10,364</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,096</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,142</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;">4,357</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,546</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">10,065</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,060</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,357</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,546</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">11,320</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=28% 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 purposes </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:8.0pt;">313</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:8.0pt;">304</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:8.0pt;">-</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:8.0pt;">304</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:8.0pt;">-</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:8.0pt;">-</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:8.0pt;">-</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:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% style="background:#5AC4C4;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=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">50,456</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">15,894</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1,487</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">3,505</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">4,008</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">5,379</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">3,519</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">969</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">MEMORANDUM ITEM:</font></i></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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">817</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;">669</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;">-</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;">72</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;">96</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;">244</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;">192</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;">64</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160;&#160;&#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:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(**)&#160;&#160;&#160;&#160; Small and
medium enterprises</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(***)&#160;&#160;&#160; Nonprofit
institutions serving households.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(****)&#160;&#160; Net of
provisions. </font></font></p>

<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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-216</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_457"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_031dic_SEC3_F_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=#2DCCCD face=Arial,sans-serif style="border:none;"><font color=#2DCCCD face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December 2020 (Millions of Euros) Garanti BBVA</font></font></p>
  </td>
 </tr>
<tr style="height:35.25pt;">
  <td valign=top width=28% style="height:35.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:35.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:35.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:35.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=45% style="border:none;border-bottom:solid #004481 1.0pt;height:35.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans to customers. Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:54.0pt;">
  <td nowrap width=28% style="border:none;border-bottom:solid #004481 1.0pt;height:54.0pt;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 #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 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 #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 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 #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">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;">176</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</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;">-</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;">-</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</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;">-</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;">-</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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap valign=bottom width=28% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">743</font></font></p>
  </td>
 <td nowrap 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 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: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:8.0pt;">2</font></font></p>
  </td>
 <td nowrap 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 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=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 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: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:8.0pt;">3</font></font></p>
  </td>
 <td nowrap 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 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: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:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td nowrap valign=bottom width=28% 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;">Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% 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;">21,559</font></font></p>
  </td>
 <td nowrap width=9% 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;">4,162</font></font></p>
  </td>
 <td nowrap width=9% 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;">466</font></font></p>
  </td>
 <td nowrap width=9% 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;">847</font></font></p>
  </td>
 <td nowrap width=9% 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;">1,453</font></font></p>
  </td>
 <td nowrap width=9% 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;">1,140</font></font></p>
  </td>
 <td nowrap width=9% 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;">454</font></font></p>
  </td>
 <td nowrap width=9% 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;">734</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">897</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">334</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;">
  <td nowrap width=28% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,810</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=28% 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;">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;">18,852</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,828</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,340</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">685</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,345</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,447</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">425</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">8,506</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">321</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">384</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">965</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">431</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">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;">9,895</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,036</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=28% 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;">2,358</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,987</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">857</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,016</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=28% 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;">7,335</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=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=28% 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 purposes </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:8.0pt;">202</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:8.0pt;">18</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:8.0pt;">-</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:8.0pt;">4</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:8.0pt;">3</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:8.0pt;">4</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:8.0pt;">7</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:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% style="background:#5AC4C4;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=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">32,372</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">6,217</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">492</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1,734</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2,489</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1,271</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">478</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">735</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">MEMORANDUM ITEM:</font></i></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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">1,911</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;">417</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;">2</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;">121</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;">174</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;">73</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;">23</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;">27</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160;&#160;&#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:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(**)&#160;&#160;&#160;&#160; Small and
medium enterprises</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(***)&#160;&#160;&#160; Nonprofit
institutions serving households.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(****)&#160;&#160; Net of
provisions. </font></font></p>

<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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-217</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_458"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_031dic_SEC4_F_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=#2DCCCD face=Arial,sans-serif style="border:none;"><font color=#2DCCCD face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December 2020 (Millions of Euros) Other Entities</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td valign=top width=28% style="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;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=45% style="border:none;border-bottom:solid #004481 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=#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 to customers. Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:54.0pt;">
  <td nowrap width=28% style="border:none;border-bottom:solid #004481 1.0pt;height:54.0pt;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 #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 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 #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 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 #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">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;">1,253</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;">-</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;">14</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;">-</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;">-</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;">-</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;">-</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;">14</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap 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 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=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 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:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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 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=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 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:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:24.75pt;">
  <td nowrap valign=bottom width=28% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black 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: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:8.0pt;">21,036</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,504</font></font></p>
  </td>
 <td nowrap 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 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=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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">882</font></font></p>
  </td>
 <td nowrap 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 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=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 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: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:8.0pt;">977</font></font></p>
  </td>
 <td nowrap 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 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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">625</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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 width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">322</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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: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=#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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,133</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,091</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:8.0pt;">830</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">399</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,677</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,266</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">560</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">9,823</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">372</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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;">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;">15,900</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,954</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,438</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,464</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,236</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,220</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,405</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,068</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">6,507</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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,622</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,235</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">957</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">8,638</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,332</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=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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=28% 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 purposes </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:8.0pt;">754</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:8.0pt;">33</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:8.0pt;">87</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:8.0pt;">58</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:8.0pt;">3</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:8.0pt;">5</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:8.0pt;">32</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:8.0pt;">23</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% style="background:#5AC4C4;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=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">38,978</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">9,460</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2,851</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2,456</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1,848</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">1,657</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">3,386</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2,964</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">MEMORANDUM ITEM:</font></i></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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% 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;">1,293</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;">522</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;">32</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;">166</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;">156</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;">84</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;">90</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;">60</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160;&#160;&#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:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(**)&#160;&#160;&#160;&#160; Small and
medium enterprises</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(***)&#160;&#160;&#160; Nonprofit
institutions serving households.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(****)&#160;&#160; Net of provisions.
</font></font></p>

<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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-218</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_459"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;text-indent:0cm;"><font color=#004580 face="BBVA Office Light,sans-serif" style="border:none;"><b><font color=#004580 face="BBVA Office Light,sans-serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">c) </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;line-height:115%;">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" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=6 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=BBVABentonSans style="border:none;"><font color=#02A5A5 face=BBVABentonSans style="font-size:8.0pt;">December 2020 (Millions
  of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:37.5pt;">
  <td nowrap width=40% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:37.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=BBVABentonSans style="border:none;"><b><font color=#0A5FB4 face=BBVABentonSans style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">TOTAL(*)</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=16% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">European
  Union Other</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">America</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">142,475</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">44,287</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">31,005</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">39,897</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">27,286</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=40% style="background:white;border-bottom:solid white 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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">125,311</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">61,944</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">12,660</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">37,756</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">12,951</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Central
  Administration</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">103,104</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">46,614</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">12,324</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">31,477</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">12,689</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">22,207</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">15,330</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">336</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">6,279</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">262</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">48,434</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">14,727</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">11,773</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">15,640</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">6,294</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=40% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">202,708</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">74,560</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">23,783</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">60,245</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">44,120</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Construction and
  property development </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">8,182</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">3,384</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">202</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">1,899</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">2,697</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">10,385</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">5,275</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">1,349</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">1,183</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">2,578</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Other purposes</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">184,141</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">65,901</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">22,232</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">57,163</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">38,845</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="background:white;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 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Large companies </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">125,847</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">39,272</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">21,610</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">37,904</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">27,061</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="background:white;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 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">SMEs and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">58,294</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">26,629</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">622</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">19,259</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">11,784</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Other households and
  NPISHs</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">138,544</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">88,633</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">2,882</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">36,690</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">10,339</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Housing </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">94,098</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">73,383</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">1,747</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">16,262</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">2,706</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="background:white;border:none;border-right:solid white 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=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Consumer</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">39,442</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">12,117</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">719</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">19,264</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">7,342</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% style="background:white;border:none;border-right:solid white 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=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Other purposes </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">5,004</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">3,133</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">416</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">1,164</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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=gray face="BBVA Office Light,sans-serif" style="border:none;"><font color=gray face="BBVA Office Light,sans-serif" style="font-size:8.0pt;">291</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=40% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSans style="border:none;"><b><font color=white face=BBVABentonSans style="font-size:8.0pt;">657,472</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSans style="border:none;"><b><font color=white face=BBVABentonSans style="font-size:8.0pt;">284,151</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSans style="border:none;"><b><font color=white face=BBVABentonSans style="font-size:8.0pt;">82,103</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSans style="border:none;"><b><font color=white face=BBVABentonSans style="font-size:8.0pt;">190,228</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSans style="border:none;"><b><font color=white face=BBVABentonSans style="font-size:8.0pt;">100,990</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><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-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 align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_043" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=6 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=BBVABentonSansLight style="border:none;"><font color=#02A5A5 face=BBVABentonSansLight style="font-size:8.0pt;">December 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:32.25pt;">
  <td nowrap width=39% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:32.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=BBVABentonSans style="border:none;"><b><font color=#0A5FB4 face=BBVABentonSans style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">TOTAL
  (*)</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=16% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">European
  Union Other</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">America</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=39% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">108,728</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">23,045</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">40,204</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">31,717</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">13,762</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="background:white;border-bottom:solid white 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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">134,915</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">56,464</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">9,861</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">57,174</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">11,416</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Central
  Administration</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">96,639</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">39,573</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">9,505</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">36,287</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">11,274</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">38,276</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">16,891</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">356</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">20,887</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">142</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=39% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">52,281</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">13,822</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">19,763</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">15,736</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">2,960</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=39% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">231,964</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">70,753</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">25,932</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">92,178</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">43,101</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Construction and
  property development </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">18,915</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,538</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">361</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">11,688</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,328</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">10,607</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">5,403</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,303</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,431</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,470</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Other purposes</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">202,442</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">61,812</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">24,268</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">79,059</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">37,303</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Large companies </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">147,573</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">37,393</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">23,279</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">61,838</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">25,063</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">SMEs and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">54,869</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">24,419</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">989</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">17,221</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">12,240</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=39% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Other households and
  NPISHs</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">167,379</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">90,829</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">3,180</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">62,098</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">11,272</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Housing </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">110,178</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">75,754</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">725</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">30,557</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,142</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;border:none;border-right:solid white 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=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Consumer</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">46,358</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">11,954</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">675</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">25,897</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">7,832</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Other purposes </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">10,843</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,121</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,780</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">5,644</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">298</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=39% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">695,267</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">254,913</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">98,940</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">258,903</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">82,511</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><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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_461"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_044anual" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=6 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=BBVABentonSansLight style="border:none;"><font color=#02A5A5 face=BBVABentonSansLight style="font-size:8.0pt;">December 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:32.25pt;">
  <td nowrap width=39% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:32.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=BBVABentonSans style="border:none;"><b><font color=#0A5FB4 face=BBVABentonSans style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">TOTAL(*)</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=16% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">European
  Union Other</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">America</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid #072146 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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=#072146 face=BBVABentonSans style="border:none;"><b><font color=#072146 face=BBVABentonSans style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=39% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">113,306</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">35,719</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">33,355</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">31,085</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">13,147</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="background:white;border-bottom:solid white 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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">123,340</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">53,664</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">11,061</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">50,092</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;border-bottom:solid white 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">8,523</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Central
  Administration</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">87,610</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">35,691</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">10,756</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">32,735</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">8,428</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">35,730</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">17,973</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">305</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">17,357</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">95</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=39% style="background:white;border:none;border-right:solid white 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=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">48,931</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">13,776</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">17,887</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">15,335</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">1,933</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=39% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans lang=EN-US style="font-size:8.0pt;">Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">226,422</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">70,523</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">24,534</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">87,417</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">43,948</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Construction and
  property development </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">17,697</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,497</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">244</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">10,113</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,843</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">11,429</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">5,789</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,535</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,762</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">2,343</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Other purposes</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">197,296</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">61,237</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">22,755</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">75,542</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">37,762</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Large companies </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">137,086</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">36,951</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">22,083</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">53,422</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">24,630</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">SMEs and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">60,210</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">24,286</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">672</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">22,120</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">13,132</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=39% style="background:white;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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">Other households and
  NPISHs</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">163,442</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">91,976</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">3,383</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">56,777</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSans style="border:none;"><font color=black face=BBVABentonSans style="font-size:8.0pt;">11,306</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;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 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Housing </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">111,007</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">78,414</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">765</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">28,034</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,794</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;border:none;border-right:solid white 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=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Consumer</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">40,123</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">10,303</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">629</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">22,036</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;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 face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">7,155</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=BBVABentonSansLight style="border:none;"><font color=#666666 face=BBVABentonSansLight style="font-size:8.0pt;">Other purposes </font></font></p>
  </td>
 <td nowrap width=11% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">12,312</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">3,259</font></font></p>
  </td>
 <td nowrap width=16% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">1,989</font></font></p>
  </td>
 <td nowrap width=11% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">6,707</font></font></p>
  </td>
 <td nowrap width=12% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=BBVABentonSansLight style="border:none;"><font color=black face=BBVABentonSansLight style="font-size:8.0pt;">357</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=39% style="background:#5AC4C4;border:none;border-bottom:solid white 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=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">675,441</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">265,658</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">90,220</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">240,706</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid white 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=BBVABentonSansLight style="border:none;"><b><font color=white face=BBVABentonSansLight style="font-size:8.0pt;">78,857</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>

<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:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">This Appendix is an integral part
of Note 7.2.7 of the consolidated financial statements for the year ended
December 31, 2020.</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="_Toc442077900"></a><a name="_Toc457382067"></a><a name="_Toc481574719"></a><a name="_Toc492911515"></a><a name="_Toc495480021"></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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_462"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;line-height:115%;">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;line-height:115%;">. Additional
information on risk concentration</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">a)</font></b><b><font color=#004580 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</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;line-height:115%;">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, 2020, 2019 and 2018 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_051dic_F_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;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;">Risk exposure
  by countries (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=58% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 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=42% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=58% 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=14% 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 2020</font></b></font></p>
  </td>
 <td width=14% 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=14% 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 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Spain</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;">60,916 </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;">55,575 </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;">52,970 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Italy</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;">10,270 </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;">7,810 </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;">9,249 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Turkey</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;">7,578 </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;">7,999 </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;">7,998 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Portugal</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;">1,067 </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;">924 </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;">529 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Germany</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;">342 </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;">224 </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;">362 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">France</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;">108 </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;">93 </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;">122 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Netherlands</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;">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;">9 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Romania</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;">459 </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;">480 </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;">493 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Rest of Europe</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;">244 </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;">185 </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;">248 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">Subtotal Europe</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;">80,984</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;">73,291</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;">71,981</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Mexico</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;">31,237 </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;">32,630 </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;">26,562 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">The United States</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;">14,217 </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;">19,802 </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;">18,645 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Colombia</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;">1,466 </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;">1,828 </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;">2,577 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Argentina</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;">1,539 </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;">1,557 </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;">628 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Peru</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;">706 </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;">582 </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;">750 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Venezuela</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;">21 </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;">7 </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 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Rest of countries</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;">5,559 </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;">3,726 </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;">955 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">Subtotal rest of
  countries</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;">54,746</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;">60,131</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;">50,118</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 lang=EN-US style="font-size:8.0pt;">Total exposure
  to financial instruments</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;">135,729</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;">133,421</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;">122,099</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, </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%;">2020 </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%;">by type of financial instrument and the country of residence of
the counterparty, under EBA (European Banking Authority) 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%;">&nbsp;</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:12.75pt;">
  <td colspan=12 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 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 2020
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=23% 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 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=3 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:5.0pt;">Debt securities</font></b></font></p>
  </td>
 <td rowspan=3 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:5.0pt;">Loans and advances</font></b></font></p>
  </td>
 <td colspan=6 width=42% 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=#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:12.75pt;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;">Total</font></b></font></p>
  </td>
 <td rowspan=3 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:5.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=23% 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 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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: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:5.0pt;">Indirect exposure</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=23% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></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: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: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: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: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:5.0pt;">Fair value -</font></b></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:5.0pt;">Notional value</font></b></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:5.0pt;">Fair value +</font></b></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:5.0pt;">Fair value -</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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:5.0pt;">Spain</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=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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">33,689 </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:5.0pt;">12,712 </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:5.0pt;">419 </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:5.0pt;">19 </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:5.0pt;">(10)</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:5.0pt;">(1,030)</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:5.0pt;">37 </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:5.0pt;">(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:5.0pt;">45,814 </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:5.0pt;">41%</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 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:12.75pt;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;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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:5.0pt;">7,612 </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:5.0pt;">112 </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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">(1,550)</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:5.0pt;">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:5.0pt;">(32)</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:5.0pt;">6,155 </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:5.0pt;">6%</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 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:12.75pt;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;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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:5.0pt;">(230)</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:5.0pt;">130 </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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">(53)</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:5.0pt;">211 </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:5.0pt;">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:5.0pt;">(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:5.0pt;">59 </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:5.0pt;">0%</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 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:12.75pt;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;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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:5.0pt;">159 </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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">295 </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:5.0pt;">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:5.0pt;">(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:5.0pt;">456 </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:5.0pt;">0%</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 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:12.75pt;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;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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:5.0pt;">(747)</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:5.0pt;">26 </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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">773 </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:5.0pt;">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:5.0pt;">(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:5.0pt;">55 </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:5.0pt;">0%</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 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:12.75pt;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;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">0%</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 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:12.75pt;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;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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:5.0pt;">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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">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:5.0pt;">0%</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 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="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;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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:5.0pt;">(573)</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:5.0pt;">35 </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:5.0pt;">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:5.0pt;">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:5.0pt;">(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:5.0pt;">197 </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:5.0pt;">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:5.0pt;">(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:5.0pt;">(57)</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:5.0pt;">0%</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=23% style="background:#5AC4C4;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;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;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">40,369</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">13,014</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">704</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">20</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(68)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(1,105)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(59)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">52,942</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:12.75pt;">
  <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 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="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;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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:5.0pt;">19,215 </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:5.0pt;">4,671 </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:5.0pt;">2,798 </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:5.0pt;">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:5.0pt;">(148)</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:5.0pt;">(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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">26,535 </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:5.0pt;">24%</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 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:12.75pt;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;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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:5.0pt;">14,133 </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:5.0pt;">-</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:5.0pt;">25 </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:5.0pt;">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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">42 </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:5.0pt;">(42)</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:5.0pt;">14,161 </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:5.0pt;">13%</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 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:12.75pt;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;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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:5.0pt;">7,366 </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:5.0pt;">181 </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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">-</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:5.0pt;">7,547 </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:5.0pt;">7%</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 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="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;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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:5.0pt;">6,974 </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:5.0pt;">2,161 </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:5.0pt;">-</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:5.0pt;">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:5.0pt;">-</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:5.0pt;">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:5.0pt;">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:5.0pt;">(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:5.0pt;">9,597 </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:5.0pt;">9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=23% style="background:#5AC4C4;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;">Total other countries</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">47,688</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">7,012</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">2,823</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">16</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(148)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">82</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(46)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">57,840</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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:12.75pt;">
  <td width=23% style="background:#5AC4C4;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;">Total </font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">88,057</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">20,026</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">3,527</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">36</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(216)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(693)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">149</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">(104)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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;">110,782</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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-222</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_463"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;10,917 million as of December 31, 2020) is not included. Includes
credit derivatives CDS (Credit Default Swaps) shown at fair value.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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 Annex forms an integral part of Note 7.2.8 of the
consolidated Annual Accounts for the year 2020.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">b)</font></b><b><font color=#004580 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;
&nbsp;</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;line-height:115%;">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;line-height:115%;">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;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, 2020, 2019 and 2018 is 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;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;">December
  2020. 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: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;">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:8.0pt;">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:8.0pt;">Accumulated impairment</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=58% style="border:none;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:8.0pt;">Financing to
  construction and real estate development (including land) (Business in Spain)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,565</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">650</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(281)</font></b></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:8.0pt;">Of which: Impaired
  assets</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:8.0pt;">473</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:8.0pt;">213</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:8.0pt;">(230)</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:8.0pt;">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:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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;">Write-offs</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;">2,288</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=black face=Arial,sans-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:#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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 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=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:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=58% 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;">Total loans and
  advances to customers, excluding the General Governments (Business in Spain)
  (book value)</font></font></p>
  </td>
 <td nowrap width=14% 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;">162,600</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;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>
 <td nowrap width=14% style="background:#E9E9E9;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:12.0pt;">
  <td nowrap valign=bottom width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Total
  consolidated assets (total business) (book value)</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;">736,176</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=black face=Arial,sans-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:#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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=58% 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:8.0pt;">Impairment and
  provisions for normal exposures</font></font></p>
  </td>
 <td nowrap width=14% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(4,909)</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=black face=Arial,sans-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:#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:8.0pt;">&nbsp;</font></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: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:11.25pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;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;">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:45.0pt;">
  <td width=59% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;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: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;">Gross amount</font></b></font></p>
  </td>
 <td width=14% 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;">Drawn over the guarantee value</font></b></font></p>
  </td>
 <td width=13% 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;">Accumulated impairment</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=59% style="border:none;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;">Financing to
  construction and real estate development (including land) (Business in Spain)</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">2,649</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">688</font></b></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(286)</font></b></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:8.0pt;">Of which: Impaired
  assets</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:8.0pt;">567</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:8.0pt;">271</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(252)</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:8.0pt;">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:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&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:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=59% 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;">Write-offs</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;">2,265</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;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=13% style="background:#E9E9E9;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>
 </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:8.0pt;">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:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&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:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=59% 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;">Total loans and
  advances to customers, excluding the General Governments (Business in Spain)
  (book value)</font></font></p>
  </td>
 <td nowrap width=14% 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;">185,893</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;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>
 <td nowrap width=13% style="background:#E9E9E9;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:11.25pt;">
  <td nowrap valign=bottom width=59% style="height:11.25pt;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;">Total
  consolidated assets (total business) (book value)</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;">697,737</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;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=13% style="background:#E9E9E9;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>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=59% style="height:11.25pt;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;">Impairment and
  provisions for normal exposures</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;">(4,934)</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;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=13% style="background:#E9E9E9;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>
 </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:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<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:11.25pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;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;">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:45.0pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;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: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;">Gross amount</font></b></font></p>
  </td>
 <td width=14% 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;">Drawn over the guarantee value</font></b></font></p>
  </td>
 <td width=14% 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;">Accumulated impairment</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=58% style="border:none;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;">Financing to
  construction and real estate development (including land) (Business in Spain)</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">3,183</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">941</font></b></font></p>
  </td>
 <td nowrap width=14% 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;">(537)</font></b></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:8.0pt;">Of which: Impaired
  assets</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:8.0pt;">875</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:8.0pt;">440</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:8.0pt;">(463)</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">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:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=58% 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;">Write-offs</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;">2,619</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;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=14% style="background:#E9E9E9;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>
 </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:8.0pt;">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:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td valign=bottom width=58% style="height:33.75pt;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;">Total loans and
  advances to customers, excluding the General Governments (Business in Spain)
  (book Value)</font></font></p>
  </td>
 <td nowrap width=14% 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;">183,196</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-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:#E9E9E9;height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black 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:11.25pt;">
  <td nowrap valign=bottom width=58% style="height:11.25pt;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;">Total
  consolidated assets (total business) (book value)</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;">675,675</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;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=14% style="background:#E9E9E9;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>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=58% style="height:11.25pt;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;">Impairment and
  provisions for normal exposures</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;">(4,938)</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;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=14% style="background:#E9E9E9;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>
 </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-223</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_464"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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;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;">2020</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;">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;">2018</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;">372</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;">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>
 </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;">2,193</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;">2,351</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>
 </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;">1,307</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;">1,461</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>
 </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;">991</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;">1,088</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>
 </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;">316</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;">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>
 </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;">614</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;">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>
 </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;">430</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;">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>
 </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;">184</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;">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>
 </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;">272</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;">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>
 </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;">143</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;">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>
 </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;">Rest of 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;">129</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;">105</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;">202</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=54% style="background:#5AC4C4;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,565</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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, 2020, 2019 and 2018, 51.0%, 55.2% and 58.5%, of
loans to developers were guaranteed with buildings (75.8%, 74.5% and 74.3% are
homes), and only 10.6%, 13.0%, and 17.8% by land, of which 52.6%, 69.6% and 64.3%
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, 2020, 2019 and 2018:</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:11.25pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;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;">Financial
  guarantees given (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=52% 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 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:11.25pt;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;">2020</font></b></font></p>
  </td>
 <td 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=#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:11.25pt;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>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=52% 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;">Houses purchase loans</font></font></p>
  </td>
 <td nowrap width=16% 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;">58</font></font></p>
  </td>
 <td nowrap width=16% 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;">44</font></font></p>
  </td>
 <td nowrap width=16% 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;">48</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom 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 style="font-size:8.0pt;">Without mortgage</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:8.0pt;">5</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:8.0pt;">5</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:8.0pt;">24</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
information on the retail mortgage portfolio risk (housing mortgage) as of
December 31, December 31, 2020, 2019 and 2018 is 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:11.25pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;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;">December
  2020. 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:8.0pt;">(Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=56% 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=#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: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;">Gross amount</font></b></font></p>
  </td>
 <td width=22% 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=#002146 face=Arial,sans-serif style="border:none;"><b><i><font color=#002146 face=Arial,sans-serif style="font-size:8.0pt;">Of which: impaired loans</font></i></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=56% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Houses purchase loans</font></font></p>
  </td>
 <td nowrap width=22% 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;">74,689</font></font></p>
  </td>
 <td nowrap width=22% 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;">2,841</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Without mortgage</font></font></p>
  </td>
 <td nowrap width=22% style="height:11.25pt;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;">1,693</font></font></p>
  </td>
 <td nowrap width=22% style="height:11.25pt;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;">20</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">With mortgage</font></font></p>
  </td>
 <td nowrap width=22% style="height:11.25pt;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;">72,996</font></font></p>
  </td>
 <td nowrap width=22% style="height:11.25pt;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;">2,821</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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:11.25pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;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;">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:8.0pt;">(Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=56% 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=#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: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;">Gross amount</font></b></font></p>
  </td>
 <td width=22% 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=#002146 face=Arial,sans-serif style="border:none;"><b><i><font color=#002146 face=Arial,sans-serif style="font-size:8.0pt;">Of which: impaired loans</font></i></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=56% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Houses purchase loans</font></font></p>
  </td>
 <td nowrap width=22% 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;">76,961</font></font></p>
  </td>
 <td nowrap width=22% 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;">2,943</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Without mortgage</font></font></p>
  </td>
 <td nowrap width=22% style="height:11.25pt;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;">1,672</font></font></p>
  </td>
 <td nowrap width=22% style="height:11.25pt;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;">22</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">With mortgage</font></font></p>
  </td>
 <td nowrap width=22% style="height:11.25pt;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;">75,289</font></font></p>
  </td>
 <td nowrap width=22% style="height:11.25pt;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;">2,921</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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:11.25pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;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;">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:8.0pt;">(Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=56% 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=#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: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;">Gross amount</font></b></font></p>
  </td>
 <td width=22% 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=#002146 face=Arial,sans-serif style="border:none;"><b><i><font color=#002146 face=Arial,sans-serif style="font-size:8.0pt;">Of which: impaired loans</font></i></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=56% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Houses purchase loans</font></font></p>
  </td>
 <td nowrap width=22% 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;">80,159</font></font></p>
  </td>
 <td nowrap width=22% 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;">3,852</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Without mortgage</font></font></p>
  </td>
 <td nowrap width=22% style="height:11.25pt;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;">1,611</font></font></p>
  </td>
 <td nowrap width=22% style="height:11.25pt;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;">30</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">With mortgage</font></font></p>
  </td>
 <td nowrap width=22% style="height:11.25pt;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;">78,548</font></font></p>
  </td>
 <td nowrap width=22% style="height:11.25pt;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;">3,822</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-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>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_465"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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;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="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:8.0pt;">&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 2020</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;">15,197</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;">18,891</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;">20,716</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,624</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,568</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">72,996</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;">170</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;">294</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;">426</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;">470</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;">1,461</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;">2,821</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 2019</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;">15,105</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;">19,453</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;">20,424</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
</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, 2020, 2019 and
2018 had an average LTV of 46% 47% and 49% 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
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 nowrap width=56% style="background:#E9E9E9;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;">Information
  about assets received in payment of debts (Business in Spain) (Millions of
  Euros)</font></font></p>
  </td>
 <td nowrap width=11% style="background:#E9E9E9;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <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;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#E9E9E9;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <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;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#E9E9E9;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <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;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#E9E9E9;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <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;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=56% 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 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:8.0pt;">December 2020</font></b></font></p>
  </td>
 </tr>
<tr style="height:57.75pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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;">Gross</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=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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: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=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=56% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Real estate
  assets from loans to the construction and real estate development sectors in
  Spain.</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">913</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(486)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(234)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">427</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=56% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Terminated buildings</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">363</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;">(144)</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;">(60)</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>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">212</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(75)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">137</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">151</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(69)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(27)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Buildings under
  construction</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">30</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:11.25pt;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;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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 valign=bottom width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Land</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">520</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(321)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Urbanized land</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">485</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(303)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:11.25pt;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;">182</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Rest of land</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:11.25pt;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;">17</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Real estate
  assets from mortgage financing for households for the purchase of a home</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:8.0pt;">1,128</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:8.0pt;">(593)</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:8.0pt;">(163)</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:8.0pt;">535</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Rest of
  foreclosed real estate assets </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">481</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;">(259)</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;">(48)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">222</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Equity
  instruments, investments and financing to non-consolidated companies holding
  said assets</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,310</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;">(450)</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;">(412)</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;">860</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#5AC4C4;border:none;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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(1,788)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(857)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">2,044</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size: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=5 nowrap width=100% style="background:#E9E9E9;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=52% style="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=48% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#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:51.0pt;">
  <td width=52% 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 width=11% 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=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:51.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=15% 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=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:51.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=52% 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 valign=bottom 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=#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 valign=bottom 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=#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 valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">(266)</font></i></b></font></p>
  </td>
 <td nowrap valign=bottom 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=#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=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 style="font-size:6.0pt;">Terminated buildings</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">378</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;">(150)</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(58)</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">228</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=52% 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=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">221</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(81)</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(33)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">140</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=52% 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=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">157</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(69)</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(25)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">88</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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;">Buildings under
  construction</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">79</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(24)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">35</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=52% 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=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">78</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(43)</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(24)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">35</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=52% 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=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(1)</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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;">Land</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">591</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(184)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">230</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=52% 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=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">547</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(338)</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(167)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">209</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=52% 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;">Rest of land</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">44</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(23)</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(17)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=52% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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 valign=bottom 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;">1,192</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;">(612)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% 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;">(153)</font></i></b></font></p>
  </td>
 <td nowrap valign=bottom 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;">580</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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:6.0pt;">Rest of
  foreclosed real estate assets </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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><i><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">(37)</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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:20.25pt;">
  <td valign=bottom width=52% 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=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,380</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=15% 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;">(255)</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=52% style="background:#5AC4C4;border:none;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=11% style="background:#5AC4C4;border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=15% style="background:#5AC4C4;border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p 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;">(711)</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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-225</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_466"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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 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:11.25pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;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;">Information
  about assets received in payment of debts (Business in Spain) (Millions of
  Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=49% style="height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=51% 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;">December 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td width=49% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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: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:6.0pt;">Provisions</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: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><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=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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;">Carrying amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=49% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Real estate
  assets from loans to the construction and real estate development sectors in
  Spain.</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,165</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(1,252)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% 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=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(828)</font></i></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">913</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=49% 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;">Finished buildings</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(274)</font></i></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">546</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=49% 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;">Homes</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;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;">588</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;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;">(245)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(144)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">343</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=49% 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</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;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;">403</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;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;">(200)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(130)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">203</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(131)</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(96)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">78</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=49% 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;">Homes</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;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;">194</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(117)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(85)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">77</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=49% 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</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;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;">15</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(11)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">965</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(676)</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(458)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">289</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=49% 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;">Urbanized land</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;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;">892</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(633)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(421)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">259</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=49% 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;">Rest of land</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;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;">73</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;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;">(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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(37)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">30</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=49% 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;">Real estate
  assets from mortgage financing for households for the purchase of a home</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,797</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(932)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(331)</font></i></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">865</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=49% 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 lang=EN-US style="font-size:8.0pt;">Rest of
  foreclosed real estate assets </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">348</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(192)</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(40)</font></i></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">156</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=49% 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;">Foreclosed equity
  instruments</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,345</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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 width=15% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(234)</font></i></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,111</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=49% style="background:#5AC4C4;border:none;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=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,655</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(2,610)</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><i><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(1,433)</font></i></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">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 through its contribution to the
capital increase carried out by the latter entity.</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, 2020, 2019 and 2018, the gross book value of
the Group&#8217;s real-estate assets from corporate financing of real-estate
construction and development was &#8364;913, &#8364;1,048 and &#8364;2,165 million, respectively,
with an average coverage ratio of 53.2%, 53.0%, and 57.8% 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, 2020, 2019 and 2018, amounted to &#8364;1,128, &#8364;1,192 and
&#8364;1,797 million, respectively, with an average coverage ratio of 52.6%, 51.3%,
and 51.9%.</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 December 31, 2020, 2019 and
2018, 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;2,522, &#8364;2,691 and &#8364;4,310 million, respectively. The coverage
ratio was 53.1%, 52.0% and 55.1%, 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%;">This Appendix is an integral part
of Note 7 of the consolidated financial statements for the year ended December
31, 2020.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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-226</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_467"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="border:none;margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">c)</font></b><b><font color=#004580 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</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;line-height:115%;">Concentration of risk by geography</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%;">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, 2020, 2019 and 2018 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;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 2020 (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=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;">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=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;">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;">8,419</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;">17,811</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;">2,292</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;">8,350</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;">349</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;">2,162</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;">800</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;">40,183</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;">2,196</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;">9,627</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;">3,197</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;">925</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</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;">260</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;">420</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;">16,690</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;">56,552</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;">18,932</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;">29,392</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;">5,097</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;">7,466</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;">5,907</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;">6,287</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;">129,632</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=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;">2,535</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;">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;">2,635</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;">48,765</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;">12,320</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">26,567</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,412</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,449</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,547</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,641</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">104,701</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;">1,680</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;">2,383</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,542</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,718</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;">5,466</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;">1,804</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">404</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">897</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,175</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: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;">641</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;">2,426</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;">879</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,574</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;">-</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;">180</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;">702</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;">6,402</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;">168,849</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;">53,038</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;">57,787</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;">8,335</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;">40,373</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;">39,081</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;">9,996</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;">377,459</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;">1,301</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;">37</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;">235</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;">204</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;">3,408</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;">1,060</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;">37</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;">6,282</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;">12,712</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;">328</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,671</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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">20,026</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;">644</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;">25,273</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,888</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,477</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;">217</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">830</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35,122</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;">3,742</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;">11,024</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,489</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">946</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,165</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">756</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">723</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">20,845</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;">55,314</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;">13,078</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">22,878</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,670</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">23,963</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;">18,215</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;">4,573</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;">143,691</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;">Households</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;">95,136</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;">3,298</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">24,626</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,439</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16,819</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">137</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">151,493</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#5AC4C4;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">236,016</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">99,408</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">92,667</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">22,706</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">48,253</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">47,410</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">17,503</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">563,964</font></b></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;">Loan commitments
  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;">35,096</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;">32,327</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,748</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">33,644</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,691</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;">6,530</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,548</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">132,584</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;">850</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;">3,302</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,415</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,013</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">348</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,665</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 commitments 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;">15,474</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;">8,224</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,618</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,922</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,403</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;">2,883</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,666</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">36,190</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#5AC4C4;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">51,419</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">43,853</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">17,391</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">36,280</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">15,508</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">10,425</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">4,563</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">179,440</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#5AC4C4;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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">287,436</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">143,261</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">110,058</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">58,986</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">63,761</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">57,836</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">22,065</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">743,404</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Equity instruments are shown net of valuation adjustment.</font></font></p>

<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:107%;">&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-227</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_468"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<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;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;">Risks by geographical areas. December 2019 (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=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;">Spain</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#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=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;">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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">5,241</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">16,603</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;">1,328</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;">6,354</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;">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;">1,788</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;">729</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;">32,232</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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=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=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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;">1,785</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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">52,027</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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">45,874</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;">9,264</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=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</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,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;">3,647</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;">475</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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;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=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">229,460</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">88,097</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">96,715</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">90,442</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">54,052</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">48,226</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">14,450</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">621,440</font></b></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;">Loan commitments
  given</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">33,146</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">26,687</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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;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=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=11% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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="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=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;"><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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=26% style="background:#5AC4C4;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 risks in
  financial instruments</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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;">281,992</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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;">125,514</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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;">116,266</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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;">128,456</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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;">70,952</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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;">60,005</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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;">19,372</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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;">802,556</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Equity
instruments are shown net of valuation adjustment.
</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_469"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div 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;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 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=24% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-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: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=13% 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=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;">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=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:8.0pt;">Derivatives</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;">3,927</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">15,277</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;">1,473</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;">6,993</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;">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:8.0pt;">1,142</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;">549</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;">29,522</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">3,228</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">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:8.0pt;">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:8.0pt;">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:8.0pt;">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:8.0pt;">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:8.0pt;">207</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;">10,944</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">43,777</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">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:8.0pt;">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:8.0pt;">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:8.0pt;">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:8.0pt;">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:8.0pt;">1,312</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;">113,445</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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=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>
 <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=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;">2,052</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">36,553</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;">10,675</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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,130</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;">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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,769</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;">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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">325</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;">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=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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:8.0pt;">Loans and advances</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;">177,077</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">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:8.0pt;">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:8.0pt;">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:8.0pt;">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:8.0pt;">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:8.0pt;">7,089</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;">429,933</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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=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;">294</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;">112</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=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;">6,110</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16,671</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;">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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,422</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;">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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,616</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;">10,893</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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">51,942</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;">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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Households</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=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;">3,783</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="background:#5AC4C4;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=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">228,009</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">76,888</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">82,314</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">87,316</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">53,523</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">46,635</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">9,157</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">583,844</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loan commitments
  given</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">32,582</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;">21,983</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial guarantees
  given</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,242</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;">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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other commitments
  given</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,995</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;">9,229</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-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=24% style="background:#5AC4C4;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=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">51,819</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">32,920</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">16,563</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">35,050</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">17,043</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">12,360</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">4,756</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=24% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size: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 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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;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=24% style="background:#5AC4C4;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=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">279,828</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">109,808</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">98,877</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">122,366</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">70,566</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">58,995</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">13,913</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">754,355</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Equity
instruments are shown net of valuation adjustment.</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 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;text-align:justify;"><font 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 advances&#8221;, impaired by geographical area as
December 31, 2020, 2019 and 2018 is 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;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=51% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2020</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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: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;">8,199</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;">8,616</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;">10,025</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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: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;">118</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;">175</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;">225</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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: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;">1,767</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;">1,478</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;">1,138</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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: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;">1,703</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;">1,769</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;">1,715</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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: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;">-</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;">632</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;">733</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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: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;">2,889</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;">3,289</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;">2,520</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">Rest of the world</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</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;">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=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 width=51% style="background:#5AC4C4;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=17% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">14,678</font></b></font></p>
  </td>
 <td width=16% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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=16% style="background:#5AC4C4;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align: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>
 </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%;">This Appendix is an integral part
of Note 7.2.8 of the consolidated financial statements for the year ended
December 31, 2020.</font></font></p>

<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-229</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_470"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<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:11.0pt;line-height:115%;">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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:8.0pt;line-height:115%;">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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;line-height:115%;">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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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: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%;"><br>
  &#160;&#160;&#160;&#160; &#183;&nbsp;&nbsp;&nbsp; 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: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%;"><br>
  &#160;&#160;&#160;&#160; &#183;&nbsp;&nbsp;&nbsp; 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: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%;"><br>
  &#160;&#160;&#160;&#160; &#183;&nbsp;&nbsp;&nbsp; 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: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-230</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_471"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<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;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:8.0pt;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;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 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;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%;"><br>
  When preparing these financial statements the following definitions have been
  used:</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%;">&#183;&nbsp;&nbsp;&nbsp;
  Cash flows: Inflows and outflows of cash and equivalents.</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%;">&#183;&nbsp;&nbsp;&nbsp;
  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: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%;">&#183;&nbsp;&nbsp;&nbsp;
  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: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%;">&#183;&nbsp;&nbsp;&nbsp;
  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;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:8.0pt;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;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 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.</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 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;, 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;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:8.0pt;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;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 consolidated
  statements of recognized income and expenses reflect the income and expenses
  generated each year. Such statement distinguishes between income and expenses
  recognized in the consolidated income statements and &#8220;Other recognized income
  (expenses)&#8221; recognized directly in consolidated equity. &#8220;Other recognized
  income (expenses)&#8221; include the changes that have taken place in the year in
  the &#8220;Valuation adjustments&#8221; broken down by item.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;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%;"><br>
  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;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:8.0pt;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;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%;">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.<br>
  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: <br>
  a)&#160; income and expenses in respect of intragroup transactions are eliminated
  in full.</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%;">b)&#160; profits and
  losses resulting from intragroup transactions are similarly eliminated. 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;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:8.0pt;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;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%;">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;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:8.0pt;line-height:115%;">Contingent&#160; </font></font></p>
  <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:8.0pt;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;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%;">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>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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-231</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_472"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<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;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:8.0pt;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;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%;">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:<br>
  &#160;&#160;&#160;&#160; a)&nbsp;&nbsp;&nbsp;&nbsp; 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.<br>
  &#160;&#160;&#160;&#160; b)&nbsp;&nbsp;&nbsp;&nbsp; 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.<br>
  &#160;&#160;&#160;&#160; c)&nbsp;&nbsp;&nbsp;&nbsp; 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;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:8.0pt;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;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%;">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;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:8.0pt;line-height:115%;">Countercyclical Capital Buffer
  (CCyB)</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:8.0pt;line-height:115%;">The countercyclical
  capital buffer (CCyB) is part of a set of macroprudential instruments,
  designed to help counter pro-cyclicality in the financial system. Capital
  should be accumulated when cyclical systemic risk is judged to be increasing,
  creating buffers that increase the resilience of the banking sector during
  periods of stress when losses materialize. This will help maintain the supply
  of credit and dampen the downswing of the financial cycle. The CCyB can also
  help dampen excessive credit growth during the upswing of the financial cycle</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:8.0pt;line-height:115%;">CRR (</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:8.0pt;line-height:115%;">Capital Requirements Regulation)</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;line-height:115%;">Solvency regulation on prudential
  requirements of credit institutions and investment firms (EU Regulation
  575/2013).</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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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%;">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;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
  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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">Income taxes payable
  in subsequent years.</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%;">&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-232</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_473"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:76.5pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:76.5pt;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:8.0pt;line-height:115%;">Defined
  benefit plans</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:76.5pt;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:8.0pt;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;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:8.0pt;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;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%;">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>
<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:8.0pt;line-height:115%;">Deposits from central banks </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:8.0pt;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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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 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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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:8.0pt;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;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%;">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>
</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 bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-233</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_474"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:76.5pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:76.5pt;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:8.0pt;line-height:115%;">Employee
  expenses</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:76.5pt;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:8.0pt;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;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:8.0pt;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;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 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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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>
<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;"><font 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%;">Exchange/translation differences</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 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%;">Exchange differences
  (P&amp;L): Includes 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;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%;">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;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%;">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;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;">&nbsp;</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%;">1. An
  unbiased and probability-weighted amount.</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%;">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;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%;">3.
  Reasonable and supportable information that is available without undue cost or
  effort.</font></font></p>
  <p style="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:8.0pt;">&nbsp;</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
  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;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:8.0pt;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;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%;">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;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:8.0pt;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;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 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;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:8.0pt;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;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%;">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;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%;">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;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%;">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>
</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 bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-234</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_475"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;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;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%;">Financial Assets
  at fair value through other comprehensive income</font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height: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:8.0pt;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;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%;">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;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%;">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;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%;">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;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 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;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%;">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;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 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;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%;">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;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%;">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;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%;">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;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%;">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;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%;">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;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 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>
<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:8.0pt;line-height:115%;">Hedges of net investments in foreign
  operations</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;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%;">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;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%;">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;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%;">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;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%;"><br>
  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: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;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%;">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;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. </font><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">a)</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">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;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">b)</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">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;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">c)</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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: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></i></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">d)</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">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;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">e)</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">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;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">f)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&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:8.0pt;line-height:115%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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 fair value of
  insurance contracts written to cover pension commitments.</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%;">&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-235</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_476"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:51.0pt;">
  <td width=23% style="border:solid windowtext 1.0pt;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:8.0pt;line-height:115%;">Inventories</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: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:8.0pt;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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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 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>
<tr style="height:153.0pt;">
  <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:153.0pt;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:8.0pt;line-height:115%;">Joint 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:153.0pt;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:8.0pt;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:25.5pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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:8.0pt;line-height:115%;">a)</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">its assets, including
  any share of the assets of joint ownership;</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:25.5pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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:8.0pt;line-height:115%;">b)</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">its liabilities,
  including any share of the liabilities incurred jointly;</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:25.5pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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:8.0pt;line-height:115%;">c)</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">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:25.5pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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:8.0pt;line-height:115%;">d)</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">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:25.5pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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:8.0pt;line-height:115%;">e)</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">its expenses,
  including any share of the joint expenses.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:7.5pt;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%;"><br>
  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>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:7.5pt;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%;"><br>
  &#160;</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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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.<br>
  a)&nbsp;&nbsp;&nbsp;&nbsp; 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: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%;">b)&nbsp;&nbsp;&nbsp;&nbsp;
  A lease will be classified as operating lease when it is not a financial
  lease.</font></font></p>
  </td>
 </tr>
<tr style="height:63.3pt;">
  <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:63.3pt;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:8.0pt;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:63.3pt;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:8.0pt;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;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:8.0pt;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;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 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;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:8.0pt;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;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 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>
</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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-236</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_477"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;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:8.0pt;line-height:115%;">Loans
  and advances to customers</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;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%;">Loans and
  receivables, irrespective of their type, granted to third parties that are
  not credit entities.</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:8.0pt;line-height:115%;">Loan-to-Value ratio (LtV ratio) </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;">
  <div style="background:white;border:none;border-top:solid #DADADA 1.0pt;padding:8.0pt 31.0pt 31.0pt 31.0pt;">
  <p style="background:white;border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;page-break-after:avoid;text-align:justify;vertical-align:baseline;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The ratio of the amount borrowed to the appraised value or
  market value of the underlying collateral, usually taken into consideration
  in relation to loans for real estate financing.</font></font></p>
  </div>

  </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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;line-height:115%;">MREL (</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;line-height:115%;">Minimum Required Elegible 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: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-AU style="font-size:8.0pt;line-height:115%;">Minimum requirement of own funds
  and eligible liabilities. New requirement faced by European banks, which aims
  to create a buffer of solvency that absorbs the losses of a financial entity
  in the event of resolution without jeopardizing taxpayers' money. The level
  of this buffer is determined individually for each banking group based on
  their level of risk and other particular characteristics.</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:8.0pt;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;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 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>
<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:8.0pt;line-height:115%;">Non Performing Loans (NPL)</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:8.0pt;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;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:8.0pt;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;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 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;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:8.0pt;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;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%;">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:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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:8.0pt;line-height:115%;">a)</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">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:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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:8.0pt;line-height:115%;">b)</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">Risks arising from
  options, including embedded options.</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%;">&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-237</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_478"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:280.5pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:280.5pt;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:8.0pt;line-height:115%;">Other
  financial assets/liabilities at fair value through profit or loss</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:280.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;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%;">Instruments designated by the entity from the inception at fair value
  with changes in profit or loss. <br>
  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:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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:8.0pt;line-height:115%;">a)</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">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:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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:8.0pt;line-height:115%;">b)</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">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:6.0pt;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%;">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:6.0pt;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%;">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;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:8.0pt;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;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%;">This heading is
  broken down as follows:</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%;"><br>
  &#160;<br>
  i) 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: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%;"><br>
  ii) 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;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:8.0pt;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;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%;">Includes the amount
  of compensation plans to employee&#8217;s long term.</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;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:8.0pt;line-height:115%;">Own/treasury shares</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;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 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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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>
</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 bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-238</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_479"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;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;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:8.0pt;line-height:115%;">Provisions
  for contingent liabilities and commitments</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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">An operation which,
  irrespective of the holder or guarantees involved, is granted or used for
  financial or legal reasons related to current or foreseeable financial
  difficulties that the holder(s) may have in settling one or more operations
  granted by the entity itself or by other companies in its group to the
  holder(s) or to another company or companies of its group, or through which
  such operations are totally or partially brought up to date with their
  payments, in order to enable the holders of the settled or refinanced
  operations to pay off their loans (principal and interest) because they are
  unable, or are expected to be unable, to meet the conditions in a timely and
  appropriate manner.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;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:8.0pt;line-height:115%;">Renegotiated Operation</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;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%;">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;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:8.0pt;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;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%;">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>
<tr style="height:165.75pt;">
  <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:165.75pt;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:8.0pt;line-height:115%;">Restructured 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:165.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font 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%;">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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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: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:8.0pt;line-height:115%;">Risk-Weighted Assets (RWA&#8217;s)</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;line-height:115%;">Risk exposure of the entity
  weighted by a percentage derived from the applicable standard (standardized
  approach) or internal models</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:8.0pt;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;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%;">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>
</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 bclFooter>

 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-239</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_480"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;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:8.0pt;line-height:115%;">Share
  premium</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;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 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;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:8.0pt;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;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%;">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;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:8.0pt;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;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%;">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;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%;">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: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%;">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;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">a)</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">Quantitative criterion</font></i></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%;">: 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="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:8.0pt;line-height:115%;">&nbsp;</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">b)</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&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:8.0pt;line-height:115%;">Qualitative criterion:</font></i></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%;"> 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;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%;">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;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%;">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;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 existence of significant
  influence by an entity is usually evidenced in one or more of the following
  ways: <br>
  &#160;</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=BBVABentonSansLight style="border:none;"><font face=BBVABentonSansLight lang=EN-US style="font-size:8.0pt;line-height:115%;">a)</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=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=BBVABentonSansLight style="border:none;"><font face=BBVABentonSansLight lang=EN-US style="font-size:8.0pt;line-height:115%;">b)</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=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=BBVABentonSansLight style="border:none;"><font face=BBVABentonSansLight lang=EN-US style="font-size:8.0pt;line-height:115%;">c)</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=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=BBVABentonSansLight style="border:none;"><font face=BBVABentonSansLight lang=EN-US style="font-size:8.0pt;line-height:115%;">d)</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=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=BBVABentonSansLight style="border:none;"><font face=BBVABentonSansLight lang=EN-US style="font-size:8.0pt;line-height:115%;">e)</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=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">&#160;Provision of essential technical
  information.</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Single Resolution Board (SRB)</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The Single
  Resolution Board (SRB) is the new European Banking Union's resolution
  authority. It is a key element of the Banking Union and its Single Resolution
  Mechanism. Its mission is to ensure the orderly resolution of failing banks,
  with as little impact as possible on the real economy and public finances of
  the participating EU countries and others.</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%;">&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-240</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_481"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;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
  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;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%;">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;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%;">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;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%;">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:8.0pt;line-height:115%;">without significant increase in credit risk</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> (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:8.0pt;line-height:115%;">significant increase in
  credit risk</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> (Stage 2) and the third one, the impaired operations </font><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Impaired&nbsp;</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">
  (Stage 3).</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
  transfer logic is defined in a symmetrical way, whenever the condition that</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%;">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;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%;">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;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%;">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;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%;">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;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%;">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;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 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="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:8.0pt;">&nbsp;</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">a)</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></i></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%;">restricted activities.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">b)</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></i></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%;">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 and passing on risks and
  rewards associated with the assets of the structured entity to investors.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">c)</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></i></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%;">insufficient equity to permit the
  structured entity to finance its activities without subordinated financial
  support.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">d)</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></i></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%;">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;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%;">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;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%;">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;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%;">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: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%;">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-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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">a)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">an agreement that gives the
  parent the right to control the votes of other shareholders;</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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-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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">c)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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>
</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>


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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-241</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><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_482"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:86.5pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:86.5pt;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:8.0pt;line-height:115%;">Tangible book
  value</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:86.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Tangible Book Value represents
  the tangible equity's value for the shareholders as it does not include the
  intangible assets and the minority interests (non-controlling interests). </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%;">It is calculated by discounting
  intangible assets, that is, goodwill and the rest of consolidated intangibles
  recorded under the public balance sheet (goodwill and intangible assets of
  companies accounted for by the equity method or companies classified as
  non-current assets for sale are not subtracted). It is also shown as
  ex-dividends</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;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%;">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;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%;">All tax related liabilities
  except for provisions for taxes.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;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%;">Territorial bonds</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;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%;">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;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%;">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;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%;">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;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%;">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;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%;">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;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%;">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;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 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;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%;">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;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%;">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;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%;">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: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%;">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 VaR figures are estimated following two methodologies:</font></font></p>
  <p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">a)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font 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 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">VaR with smoothing, which weighs
  more recent market information more heavily. This is a metric which
  supplements the previous one.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom: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%;">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;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%;">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;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%;">Risks arising from changes in the
  slope and the shape of the yield curve.</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%;">&nbsp;</font></font></p>




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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>d20f2020exhibits21.htm
<DESCRIPTION>EXHIBIT 2.1
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 216.0pt right 432.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


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<p align=right style="margin-bottom: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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This exhibit describes</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><font face="Times New Roman,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, 2020. 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, 2020 (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Annual Report</font></b><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">estatutos</font></i><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font style="border:none windowtext 1.0pt;padding:0cm;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Attendance and Voting at Shareholders&#8217; Meeting</font></i><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2020, 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-align:justify;text-indent:36.0pt;"><font color=#222222 face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font color=#222222 face="Times New Roman,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, of which contingent convertible securities in an aggregate amount of
approximately</font><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">five and a half billion euros have already been issued to
the date hereof. 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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange Controls
and Restrictions on Foreign Investments</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;">Restrictions on
Acquisitions of Ordinary Shares</font></i><font face="Times New Roman,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>


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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="Times New Roman,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-align:justify;text-indent:36.0pt;"><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 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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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, 2020, 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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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: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:17.85pt;"><b><i><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Bolet&#237;n Oficial del
Registro Mercantil</font></i><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Except with respect to universal shareholders&#8217;
meetings, and subject to any special exceptions determined by the applicable
law from time to time (such as in connection with the COVID-19 pandemic),
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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Attendance and Voting at Shareholders&#8217; Meetings</font></i><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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) limitation or supression 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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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. In addition, BBVA must take into account any applicable capital
adequacy requirements and any recommendations on payment of dividends, and any
other required authorization or restriction that may be applicable. Capital
adequacy requirements are applied on both a consolidated and individual basis.
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;Capital Requirements</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; and &#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;Liquidity and Capital Resources&#8212;Capital</font></i><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with recommendation ECB/2020/19 issued
by the ECB on March 27, 2020 on dividend distributions during the COVID-19
pandemic, the Board of Directors of BBVA resolved to modify for the financial
year corresponding to 2020 the dividend policy of the Group, announced on
February 1, 2017, determining as new policy for 2020 not to pay any dividend
amount corresponding to 2020 until the uncertainties caused by COVID-19
disappear and, in any case, never before the end of such fiscal year. On July
27, 2020, the ECB prolonged this recommendation until January 1, 2021 by
adopting recommendation ECB/2020/35. On December 15, 2020 the ECB issued
recommendation ECB/2020/62, repealing recommendation ECB/2020/35 and
recommending that significant credit institutions exercise extreme prudence
when deciding on or paying out dividends or performing share buy-backs aimed at
remunerating shareholders. Recommendation ECB/2020/62 circumscribes prudent
distributions to results of 2019 and 2020 but excludes</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;">distributions
regarding 2021 until September 30, 2021, when the ECB will reevaluate the
economic situation. BBVA intends to reinstate its dividend policy of the Group
announced on February 1, 2017 once the recommendation ECB/2020/62 is repealed
and there are no additional restrictions or limitations. 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. For additional information, see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4. Information on the
Company&#8212;Business Overview&#8212;Supervision and Regulation&#8212;Dividends</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; and &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item
8. Financial Information&#8212;Consolidated Statements and Other Financial
Information&#8212;Dividends</font></i><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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>


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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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">solidariamente</font></i><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><i><font face="Times New Roman,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="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;">Iberclear</font></b><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">entidades
participantes</font></i><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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>

<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="Times New Roman,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;page-break-after:avoid;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Registro de
Inversiones Exteriores</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) of the Ministry of Economic Affairs and Digital
Transformation (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ministerio de Asuntos Econ&#243;micos y Transformaci&#243;n Digital</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">).
See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Exchange Controls and Restrictions on Foreign Investment</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; for
additional information, including on certain temporary measures which have been
adopted in connection with foreign direct investments.</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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Restrictions on Acquisitions of Ordinary Shares</font></i><font face="Times New Roman,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="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Article 77.1 of CRR establishes that a credit
institution (such as BBVA) shall obtain the prior permission from its competent
authority (the ECB in the case of BBVA) in order to repurchase its own shares. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additionally, 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>

<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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Each member of the BBVA Board of Directors shall
notify BBVA and the CNMV of every transaction conducted on their own account
relating to BBVA shares or debt instruments issued by BBVA or to derivatives or
other financial instruments linked thereto, according to Article 19 of
Regulation (EU) n.&#186; 596/2014, of the European Parliament and of the Council, of
April 16, 2014, on market abuse, within three business days after the date of
the transaction. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In response to COVID-19, on March 16, 2020, the
European Securities and Markets Authority (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ESMA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) lowered the
aforementioned threshold from 0.2% to 0.1%, requiring net short position
holders to report positions of 0.1% and above. This measure was renewed on
September 18, 2020 and on December 17, 2020 until March 19, 2021. Additionally,
in line with other European supervisors, on March 16, 2020, the CNMV banned net
short positions in shares admitted to trading to Spanish trading venues for
which the CNMV is the competent authority as well as to all related instruments
relevant for the calculation of the net short position. The CNMV ban became
ineffective on May 18, 2020.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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>


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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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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;page-break-after:avoid;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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 ESMA, take any one or more of the following measures:</font></p>

<p style="margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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;page-break-after:avoid;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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:53.85pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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="Times New Roman,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:90.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:90.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:89.85pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><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="Times New Roman,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-align:justify;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="Times New Roman,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>


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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:126.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">i.e.</font></i><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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>

<p style="margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As further described below in &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Restrictions on
Acquisitions of Ordinary Shares</font></i><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ministerio de Asuntos Econ&#243;micos y Transformaci&#243;n Digital</font></i><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange Controls and Restrictions on
Foreign Investments </font></b></p>

<p style="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 windowtext 1.0pt;padding:0cm;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange
Controls</font></i></b></font></p>

<p style="margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:28.05pt;"><font style="border:none windowtext 1.0pt;padding:0cm;"><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. </font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 10. Additional Information&#8212;Taxation</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; of the Annual
Report. </font><font style="border:none windowtext 1.0pt;padding:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&nbsp;</font></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:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:28.05pt;"><font style="border:none windowtext 1.0pt;padding:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pursuant Royal Decree 664/1999, of
April 23, on the Applicable rules to Foreign Investments, foreign investors may
freely invest in shares of Spanish companies except in the case </font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">they fall within the scope of article 7 bis
of Law 19/2003, enacted in March 2020, Sole Transitional Provision of Royal
Decree-Law 34/2020, of November 17, or&#8212;only with respect to investments in the
defense sector&#8212;article 11 of Royal Decree 664/1999, of April 23</font><font style="border:none windowtext 1.0pt;padding:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.
For information on certain additional regulation applicable to foreign direct
investments, see &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Restrictions on Foreign Investments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; below. Likewise,
Royal Decree 664/1999, of April 23, 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="margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:28.05pt;"><font style="border:none windowtext 1.0pt;padding:0cm;"><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="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 windowtext 1.0pt;padding:0cm;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Restrictions
on Foreign Investments</font></i></b></font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;text-indent:20.25pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange controls and foreign investments
are regulated under Law 19/2003, of July 4 (&#8220;Law 19/2003&#8221;), as amended pursuant
to Royal Decree-Law 8/2020, of March 17, Royal Decree-Law 11/2020, of March 31
and Royal Decree-Law 34/2020, of November 17. Foreign investments are generally
liberalized unless they fall within the scope of article 7 bis of Law 19/2003,
enacted in March 2020, Sole Transitional Provision of Royal Decree-Law 34/2020,
of November 17, or&#8212;only with respect to investments in the defense
sector&#8212;article 11 of Royal Decree 664/1999, of April 23.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;text-indent:20.25pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Article 7 bis of Law 19/2003 establishes a
screening mechanism for certain investments made by non-EU and non-EFTA
residents (&#8220;foreign investors&#8221;), based on public order, public health and
public security reasons (the &#8220;Screening Mechanism&#8221;). The Screening Mechanism
aligns part of the Spanish foreign investment legal framework with Regulation
(EU) 2019/452 of March 19, 2019 establishing a framework for the screening of
foreign direct investments into the European Union. Certain provisions of
Regulation (EU) 2019/452&#8212;such as the list of sectors affecting public order and
public security or the definition of state-owned enterprises and other similar
investors&#8212;are mirrored in the regulations establishing the Screening Mechanism.
</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;page-break-after:avoid;text-align:justify;text-indent:20.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition,
and according to Sole Transitional Provision of Royal Decree-Law 34/2020, of
November 17, effective November 19, 2020 and until June 30, 2021, the following
persons will also be deemed to be foreign investors, provided they invest in
listed companies or the investment value exceeds 500 million euros&#8212;for
investments in private &#8211; non listed &#8211; companies:</font></p>

<ul type=disc style="margin-bottom:0cm;margin-top:0cm;">
 <li style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EU and EFTA residents in countries
     other than Spain, and</font></li>
 <li style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish residents beneficially owned
     by EU or EFTA residents in countries other than Spain, that is, those in
     which a EU or EFTA resident other than in Spain ultimately owns or
     controls more than 25% of the share capital or voting rights of, or
     otherwise exercises control over, the Spanish resident.</font></li>
</ul>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;page-break-after:avoid;text-align:justify;text-indent:20.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Foreign
direct investments (&quot;FDI&quot;) are:</font></p>

<ul type=disc style="margin-bottom:0cm;margin-top:0cm;">
 <li style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">investments that result in a foreign
     investor reaching a stake of at least 10% of the share capital of a
     Spanish company; and</font></li>
 <li style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">any corporate transaction, business
     action or legal transaction which enables effective participation in the
     management or control of a Spanish company.</font></li>
</ul>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;text-indent:20.25pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not all foreign direct investments are
subject to the Screening Mechanism. Investors are subject to the Screening
Mechanism only if they qualify as FDI and the investment is made in one of the
critical sectors mentioned in article 7 bis of Law 19/2003, is made pursuant to
what is foreseen in Sole Transitional Provision of Royal Decree-Law 34/2020, of
November 17, or&#8212;only where the investor is a Non-UE or non-EFTA investor&#8212;by
investors that meet certain subjective criteria regardless of the business of
the target.</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:0cm;margin-bottom:.0001pt;margin-top:9.0pt;page-break-after:avoid;text-align:justify;text-indent:20.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Foreign direct investments by the following &#8220;foreign
investors&#8221; are also subject to the Screening Mechanism, regardless of the
business of the target: </font></p>

<ul type=disc style="margin-bottom:0cm;margin-top:0cm;">
 <li style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investors directly or indirectly
     controlled by the government, including state bodies or armed forces, of a
     non EU/EFTA country. </font></li>
 <li style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investors that have already made an
     investment affecting national security, public order or public health in
     another EU Member State, including an investment in any of the
     above-mentioned sectors. </font></li>
 <li style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investors subject to ongoing judicial
     or administrative proceedings for engaging in illegal or criminal
     activities. </font></li>
</ul>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;page-break-after:avoid;text-align:justify;text-indent:20.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Foreign
direct investments by the following non-EU and non-EFTA investors are also
subject to the Screening Mechanism, regardless of the business of the target:</font></p>

<ul type=disc style="margin-bottom:0cm;margin-top:0cm;">
 <li style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investors directly or indirectly
     controlled by a non-EU and non-EFTA government, including state bodies,
     armed forces or sovereign wealth funds; the possibility of exercising
     decisive influence as a result of an agreement or through the ownership of
     shares or interests in another person (directly or indirectly) is deemed
     to constitute &#8220;control&#8221; for these purposes. </font></li>
 <li style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investors that have already made an
     investment affecting national security, public order or public health in
     another EU Member State, including an investment in any of the
     above-mentioned sectors.</font></li>
 <li style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If there is a serious risk that the
     investor engages in illegal or criminal activities affecting national
     security, public order or public health in Spain.</font></li>
</ul>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:9.0pt;text-align:justify;text-indent:20.25pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Foreign direct investments described above
shall be subject to prior administrative authorization granted by the relevant
Spanish Authority, in accordance with the administrative conditions established.</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:justify;text-indent:20.15pt;"><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;">Restrictions on Acquisitions of Ordinary Shares</font></i><font face="Times New Roman,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:10.0pt;page-break-after:avoid;text-indent:0cm;"><b><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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. See also &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange Controls and Restrictions on
Foreign Investments</font></i><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><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 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>


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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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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>

<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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish Securities Market Act</font></b><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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;page-break-after:avoid;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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>


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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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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: (i)
the cancellation of such securities; (ii) the transfer of such securities to
creditors of BBVA; (iii) 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 (iv) 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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 3. Key
Information&#8212;Risk Factors&#8212;Regulatory, Tax and Reporting Risks&#8212;Regulatory Risks&#8212;The
Group is subject to a broad regulatory and supervisory framework, including
resolution regulations, which could have a significant 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; and &#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;Principal Markets&#8212;Spain&#8212;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;">&#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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font style="border:none windowtext 1.0pt;padding:0cm;"><font face="Times New Roman,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 the 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>

<p style="margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none windowtext 1.0pt;padding:0cm;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Privileged Shares</font></i></font></p>

<p style="margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:36.0pt;"><font style="border:none windowtext 1.0pt;padding:0cm;"><font face="Times New Roman,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 style="border:none windowtext 1.0pt;padding:0cm;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Redeemable Shares</font></i></font></p>

<p style="margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:36.0pt;"><font style="border:none windowtext 1.0pt;padding:0cm;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font style="border:none windowtext 1.0pt;padding:0cm;"><font face="Times New Roman,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 style="border:none windowtext 1.0pt;padding:0cm;"><i><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font style="border:none windowtext 1.0pt;padding:0cm;"><font face="Times New Roman,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 style="border:none windowtext 1.0pt;padding:0cm;"><b><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font style="border:none windowtext 1.0pt;padding:0cm;"><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>


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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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 6. Directors, Senior
Management and Employees&#8212;Compensation</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; in our Annual Report.
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 216.0pt right 432.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


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<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name=bcl_connect_prev></a><!-- Do not modify before this point! !--></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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The depositary, The Bank of New York Mellon (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;),
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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">DRS</font></b><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Description of
BBVA American Depositary Shares</font></i><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">DTC</font></b><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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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<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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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;page-break-after:avoid;text-align:justify;text-indent:36.0pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Rights</font></i><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:53.85pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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="Times New Roman,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:90.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:90.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:90.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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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<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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<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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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;page-break-after:avoid;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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;page-break-after:avoid;text-indent:0cm;"><b><font face="Times New Roman,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;page-break-after:avoid;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">receive the net
proceeds of any sale;</font></p>

<p style="margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">receive notice or
solicitation to act in respect of any matter.</font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:right 425.0pt;"><font style="mso-bidi-font-size:10.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></font></p>


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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 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><b><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">arrange for the mailing
of such copies to all holders of BBVA ADSs.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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>


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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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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;page-break-after:avoid;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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="Times New Roman,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;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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>


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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="Times New Roman,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;page-break-after:avoid;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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;page-break-after:avoid;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">any present or future
law;</font></p>

<p style="margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">any act of God;</font></p>

<p style="margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a war;</font></p>

<p style="margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">any other circumstances
beyond their respective control.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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>


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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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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;page-break-after:avoid;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:53.85pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;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="Times New Roman,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:90.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:90.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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;page-break-after:avoid;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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>

<p style="margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:54.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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>


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<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><b><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profile</font></b><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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-align:justify;text-indent:0cm;"><b><font face="Times New Roman,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-align:justify;text-indent:36.0pt;"><font face="Times New Roman,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="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&#8221;
&nbsp;</font><!-- Do not modify beyond this point! !--><a name=bcl_connect_next></a></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-align:justify;"><a name=bcl_connect_prev></a><!-- Do not modify before this point! !--></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;text-indent:0cm;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">DESCRIPTION OF<a name="supptx909289_10"></a><a name="supptx909289_10_bclEnd"></a></font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;text-indent:0cm;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">$1,200,000,000 0.875% FIXED RATE SENIOR PREFERRED
NOTES DUE 2023</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">$800,000,000
1.125% FIXED RATE SENIOR PREFERRED NOTES DUE 2025</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA&#8217;s $1,200,000,000 fixed rate senior preferred notes due 2023 (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2023
Notes</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and $800,000,000 fixed rate senior preferred notes due 2025 (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2025
Notes</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; and, together with the 2023 Notes, the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Notes</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) were issued
under the indenture (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Base Indenture</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) dated July&nbsp;28, 2016
among BBVA, as issuer, and The Bank of New York Mellon, as trustee (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Trustee</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;),
as amended and supplemented, with respect to the 2023 Notes, by the First
Supplemental Indenture and, with respect to the 2025 Notes, by the Second
Supplemental Indenture, dated September 18, 2020, among BBVA, The Bank of New
York Mellon, London Branch, as Trustee, paying agent (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Paying Agent</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
and transfer agent, and The Bank of New York Mellon, as security registrar (the
Base Indenture, as so amended and supplemented with respect to each series of
Notes, the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Indenture</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). Each series of Notes was issued pursuant to the
resolution of the board of directors of BBVA adopted on June&nbsp;25, 2019. The
First Supplemental Indenture and the Second Supplemental Indenture amended and
supplemented the Base Indenture in certain material respects. The Base
Indenture is included as Exhibit 4.2 to BBVA&#8217;s Registration Statement on Form
F-3 filed with the SEC on July 28, 2016 and the First Supplemental Indenture
and the Second Supplemental Indenture are included as Exhibits 4.10 and 4.11,
respectively, to BBVA&#8217;s report on Form 6-K furnished to the SEC on September
18, 2020 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following summary of certain provisions of the Notes and the
Indenture 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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,
including future notes under the Base Indenture (as it may be amended and
supplemented by the relevant supplemental 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;"><b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The 2023 Notes were issued in $1,200,000,000 aggregate principal amount
and will mature at 100% of their principal amount on September&nbsp;18, 2023
(the </font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;2023 Notes Stated Maturity Date</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). The 2025 Notes were issued in
$800,000,000 aggregate principal amount and will mature at 100% of their
principal amount on September&nbsp;18, 2025 (the </font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;2025 Notes Stated Maturity
Date</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; and, each of the 2023 Notes Stated Maturity Date and the 2025 Notes
Stated Maturity Date, a &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Stated Maturity Date</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). Each series of Notes
were issued only in registered form in denominations of $200,000 with
increments of $200,000 thereafter. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The 2023 Notes and the 2025 Notes constitute separate series of
securities under the Indenture. </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>


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<p style="margin-left:0cm;margin-right:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Notes of each series were issued in the
form of one or more global certificates representing the Notes of the relevant
series. DTC is the securities depositary for the Notes of each series. Therefore,
the Notes of each series 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 of each series. As long as DTC or its nominee is the
registered holder of such global certificates representing the Notes of a
series, DTC or its nominee, as the case may be, will be considered the sole
owner and holder of the Notes of such series represented by such global
certificates for all purposes under the Indenture and the Notes of such series.
Except as described below, owners of beneficial interests in a Note of a series
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 in writing that
it is unwilling, unable or ineligible 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 notice from DTC, (ii) BBVA notifies the Trustee in
writing that it has reasonably 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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 the maximum aggregate principal amount.
BBVA may from time to time, without the consent of the holders of the Notes of
any series, create and issue further securities having the same terms and
conditions as the previously issued Notes in all respects (or in all respects
except for the issue date, the original interest accrual date and/or the issue
price), so that such further issue may be consolidated and form a single series
with the outstanding Notes of the relevant series; </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">provided, however</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">,
that any such further issuance will only be made if either such additional
securities are issued with no more than </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">de minimis</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> original issue
discount for U.S. federal income tax purposes or any such further issuance is a
&#8220;qualified reopening&#8221; as such term is defined under U.S. Treasury Regulations Section&nbsp;1.1275-2(k)(3)
promulgated under the U.S. Internal Revenue Code of 1986, as amended (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Code</font></b><font face="Times New Roman,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;"><b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The 2023 Notes bear interest from and including September&nbsp;18, 2020
at an annual rate of 0.875%. BBVA must pay interest in arrears on the 2023
Notes semi-annually on September&nbsp;18 and March 18 of each year </font><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">(each, a &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">2023 Notes Interest Payment
Date</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;)</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, commencing on March 18, 2021 up to, and including, the 2023
Notes Stated Maturity Date or any date of earlier redemption. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The 2025 Notes bear interest from and including September&nbsp;18, 2020
at an annual rate of 1.125%. BBVA must pay interest in arrears on the 2025
Notes semi-annually on September&nbsp;18 and March 18 of each year (</font><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">each, a &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">2025 Notes Interest Payment
Date</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;, and each 2023 Notes Interest Payment Date and 2025 Notes Interest
Payment Date an &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Interest</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Payment Date</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;)</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, commencing
on March 18, 2021 up to, and including, the 2025 Notes Stated Maturity Date or
any date of earlier redemption. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Interest on the Notes of each series is computed on the basis of a
360-day year of twelve 30-day months. Except as described below for the first
Interest Payment Date for the Notes of each series, on each Interest Payment
Date for Notes of a series, BBVA must pay interest on the Notes of such series
for the period commencing on and including the immediately preceding Interest
Payment Date for such series of Notes and ending on and including the day
immediately preceding that Interest Payment Date. On the first Interest Payment
Date for each series of Notes, BBVA must pay interest for the period beginning
on and including September&nbsp;18, 2020 to but excluding March 18, 2021. </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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If, with respect to any series of Notes,
any Interest Payment Date falls on a day that is not a Business Day (as defined
in the Indenture), the related interest 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, with respect to any
series of Notes, the Stated 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 of the relevant series will be made on the next succeeding day that is a
Business Day, and no interest on such Notes will accrue for the period from and
after the relevant Stated 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Interest on each Note will be paid only to the person in whose name
such Note was registered at the close of business on the 15th calendar day
before the applicable Interest Payment Date (each such date, a &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regular
Record Date</font></b><font face="Times New Roman,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;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Payments
of Additional Amounts </font></b></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any amounts to be paid by BBVA 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 (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Taxes</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
unless such withholding or deduction is required by law. In the event any such
withholding or deduction is imposed or levied in respect of payment of interest
(but not principal or premium) 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 holder of Notes such additional amounts (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additional
Amounts</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) as may be necessary in order that the net amount received by such
holder of Notes under the Indenture, after such withholding or deduction, shall
equal the amount of interest, if any, which would have been receivable by such
holder of Notes in the absence of such withholding or deduction.
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-left:0cm;margin-right:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any reference to payment of interest shall be deemed
to include the payment of Additional Amounts to the extent payable in respect
thereof. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Redemption
</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">General
</font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the event of a redemption with respect to a series of Notes, the
redemption price of such Notes will be 100% of their principal amount together
with any accrued but unpaid payments of interest to, but excluding, the date of
redemption (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Redemption Price</font></b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If BBVA has elected to redeem Notes of a series but prior to the
payment of the Redemption Price to holders of Notes the Relevant Spanish
Resolution Authority exercises its Spanish Bail-in Power with respect to such
Notes, the relevant redemption notice shall be automatically rescinded and
shall be of no force and effect, there shall be no redemption and consequently
no payment of the Redemption Price (and any accrued interest and Additional
Amounts payable thereon) will be due and payable. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any redemption shall be in compliance with the Applicable Banking
Regulations (as defined in the Indenture) and, if required, BBVA shall have
obtained the prior consent of the Regulator (as defined in the Indenture). </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any notice of redemption shall be given not less than 30 nor more than
90 days prior to the redemption date. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If BBVA elects to redeem Notes of a series, they will cease to accrue
interest from the redemption date, unless BBVA fails to pay the Redemption
Price on the payment date. </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:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Early Redemption for Taxation or Listing Reasons </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA may redeem all or part of a series of Notes at the Redemption
Price if, as a result of any change in or any amendment to the laws or
regulations of Spain (including any treaty to which Spain is a party) or any
political subdivision or any authority or agency 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 September 18, 2020 (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Issue
Date</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; of such Notes), (i)&nbsp;BBVA would become obligated to pay
Additional Amounts in making any payments under such Notes, as described in the
section entitled &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Payments of Additional Amounts</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; above, as a result of
any taxes, levies, imposts or other governmental charges imposed (whether by
way of withholding or deduction or otherwise) by or for the account of Spain or
any political subdivision or authority thereof or therein having the power to
tax, (ii)&nbsp;BBVA would not be entitled to claim a deduction in computing tax
liabilities in Spain in respect of any interest to be paid on the next Interest
Payment Date on such Notes or the value of such deduction to BBVA would be
reduced or (iii)&nbsp;the applicable tax treatment of such Notes would be
materially affected; </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">provided that</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, in the case of (i)&nbsp;above, no
such notice to the Trustee of the redemption shall be given earlier than 90
days prior to the earliest date on which BBVA would be obligated to deduct or
withhold tax or pay such Additional Amounts were a payment in respect of the
Notes then due. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, if the Notes of a series had not been listed on an
organized market in an OECD country by the date that is 45 days prior to the
first Interest Payment Date on such Notes, BBVA would have had the option to
redeem all (but not less than all) of the Notes of such series at the
Redemption Price. The Notes of each series were listed on the New York Stock
Exchange as of such date.</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Early
Redemption for Eligible Liabilities Event </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA may, at its option, redeem all (but not less than all) the Notes
of a series at the Redemption Price if an Eligible Liabilities Event (as
defined in the Indenture) occurs with respect to such Notes on or after the
Issue Date of such Notes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ranking
</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">concurso de
acreedores</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) of BBVA, in accordance with and to the extent permitted by the
Insolvency Law (as defined in the Indenture) 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), but subject to
any other ranking that may apply as a result of any mandatory provision of law
(or otherwise), the payment obligations of BBVA under the Notes with respect to
claims for principal (which claims will constitute ordinary claims) will rank:
(i)&nbsp;junior to any (a)&nbsp;privileged claims (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">cr&#233;ditos privilegiados</font></i><font face="Times New Roman,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 (b)&nbsp;claims
against the insolvency estate (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">cr&#233;ditos contra la masa</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">); (ii) </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">pari
passu </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">without any preference or priority among themselves and with all
other Senior Preferred Obligations; and (iii)&nbsp;senior to (a)&nbsp;any
Senior Non-Preferred Obligations, and (b)&nbsp;all subordinated obligations of,
or claims against, BBVA (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">cr&#233;ditos subordinados</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">), present and future,
such that any claim for principal in respect of the Notes will be satisfied, as
appropriate, only to the extent that all claims ranking senior to it have first
been satisfied in full, and then pro rata with any claims ranking </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">pari passu
</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">with it, in each case as provided above. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><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;">ordinary claims</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; means the class of claims with respect to
unsecured, non-privileged and unsubordinated obligations (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">cr&#233;ditos
ordinarios</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) of BBVA which, upon the insolvency (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">concurso de acreedores</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)
of BBVA and pursuant to the Insolvency Law and other applicable laws relating
to or affecting the enforcement of creditors&#8217; rights in Spain, rank
(i)&nbsp;junior to privileged claims (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">cr&#233;ditos privilegiados</font></i><font face="Times New Roman,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 any secured claims),
and claims against the insolvency estate (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">cr&#233;ditos contra la masa</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) and
(ii)&nbsp;senior to subordinated claims (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">cr&#233;ditos subordinados</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">). &nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><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;">Senior Non-Preferred Obligations</font></b><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;">cr&#233;ditos ordinarios no
preferentes</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) means the obligations of BBVA with respect to any ordinary
claims, present and future, which, upon the insolvency (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">concurso de</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;">acreedores</font></i><font face="Times New Roman,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>


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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-align:justify;text-indent:24.5pt;"><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;">Senior Preferred Obligations</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; means
the obligations of BBVA with respect to (i)&nbsp;the payment of principal under
the Notes, and (ii)&nbsp;all other ordinary claims, present and future, other
than Senior Non-Preferred Obligations.</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Upon the insolvency (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">concurso de acreedores</font></i><font face="Times New Roman,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, but subject to any other ranking that may apply as a result of any
mandatory provision of law (or otherwise), the payment obligations of BBVA
under the Notes with respect to claims for accrued but unpaid interest on the
Notes and any Additional Amounts in respect thereof shall constitute
subordinated claims (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">cr&#233;ditos subordinados</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) against BBVA ranking in
accordance with the provisions of the Insolvency Law. No further interest on
the Notes shall accrue from the date of declaration of the insolvency of BBVA. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On August&nbsp;3, 2020, the Spanish government published </font><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">a draft bill intended to implement certain
aspects of Directive 2019/879 of the European Parliament and of the Council of
May&nbsp;20 in Spain, and which would amend Law 41/1999, of November&nbsp;12,
on payment and securities settlement systems,
Royal&nbsp;Decree-Law&nbsp;16/2011, of October&nbsp;14, which establishes the
Deposit Guarantee Fund for Credit Institutions, Law 11/2015 and Royal
Legislative Decree 4/2015 of October&nbsp;23, the Spanish Securities Market Act
(as defined in the accompanying prospectus) (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Draft BRRD II Law Bill</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;)</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.
Among other changes, the Draft BRRD II Law Bill establishes a special creditor
ranking hierarchy in the event of insolvency of credit entities pursuant to
which certain liabilities that would currently rank pari passu with payment
obligations of BBVA under the Notes with respect to claims for principal (such
as deposits of corporate customers, financial institutions and governments and
government agencies) would rank senior to such payment obligations under the
Notes. In addition, claims against BBVA from entities that are part of the
Group would cease to be automatically treated as &#8220;subordinated obligations&#8221; and
their respective ranking would be determined instead on the basis of their
underlying contractual nature. The Draft BRRD II Law Bill is still subject to a
period of consultation and deliberation and, therefore, could undergo
significant modifications before it is approved and takes effect. While there
continues to be uncertainty as to the final form, content, and effective date
of the Draft BRRD II Law Bill, it is possible that its adoption will affect the
ranking of claims in respect of the Notes and/or the rights of holders of Notes
upon BBVA&#8217;s insolvency.</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Each holder and beneficial owner of Notes by his or her acceptance
thereof, to the extent permitted by Spanish law, authorizes and directs the Trustee
on his or her behalf to take such action as may be necessary or appropriate to
effectuate the ranking of the Notes of the relevant series as provided in the
Indenture and as summarized herein and appoints the Trustee his or her
attorney-in-fact for any and all such purposes, including, if required, to
grant any private or public documents on such holder&#8217;s or beneficial owner&#8217;s
behalf. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Prior to any voluntary or necessary declaration of insolvency of BBVA
under the Insolvency Law or any voluntary or mandatory liquidation of BBVA or
similar procedure, BBVA may be subject to an Early Intervention or Resolution,
or to any other exercise of the Spanish Bail-in Power, and the Notes of any
series may be subject to the exercise of the Spanish Bail-in Power, in which
case no holder or beneficial owner of any such Note shall have any claim
against BBVA in connection with or arising out of any such exercise of the
Spanish Bail-in Power. </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;"><b><font face="Times New Roman,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;text-align:justify;text-indent:24.5pt;"><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;">Event of Default</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;, wherever used with respect to the Notes of a
series, means (whatever the reason for such Event of Default and whether it
shall be voluntary or be effected by operation of law or pursuant to any
judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body) that, except as set forth in the
immediately succeeding paragraph, an order shall have been made by any
competent court commencing insolvency proceedings (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">procedimiento concursal</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)
against BBVA or an order of any competent court or administrative agency shall
have been made or a resolution shall have been passed by BBVA for the
dissolution or winding up of BBVA (except (i)&nbsp;in the case of a
reconstruction, consolidation, amalgamation or merger carried out in compliance
with the requirements set forth in &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consolidation, Merger and Conveyance of
Assets; Assumption</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; (in this case, even without being approved by an Act
(as defined below) of the holders of the Notes) or (ii)&nbsp;in any such case
for the purpose of a reconstruction or a consolidation or an amalgamation or a
merger which has been approved by an Act of the holders of the Notes). There
are no other Events of Default under the Notes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Notwithstanding any other provision in the Notes or the Indenture, 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 a
default or an Event of Default under the immediately preceding paragraph or
under any other of the terms of the Notes or the Indenture with respect to the
Notes of any series. In addition, neither (i)&nbsp;a reduction or cancellation,
in part or in full, of the Amounts Due on the Notes of a series 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)&nbsp;the exercise of the Spanish Bail-in Power by the Relevant Spanish
Resolution Authority with respect to such Notes, will constitute an Event of
Default or default under the Indenture or such Notes or otherwise constitute
non-performance of a contractual obligation, or entitle the holders of such
Notes to any remedies, which are expressly waived. See &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Agreement with
Respect to the Exercise of the Spanish Bail-in Power</font></i><font face="Times New Roman,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 that, 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If an Event of Default with respect to the Notes of a series at the
time outstanding occurs and is continuing, then the principal of such outstanding
Notes will be deemed to have been declared, and will become, immediately and
automatically, due and payable. For the avoidance of doubt, only an Event of
Default (rather than any breach or default under the Indenture or the Notes,
such as the failure to pay interest or principal on the Notes) may give rise to
such a declaration of acceleration. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:24.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">At any time after such a declaration of
acceleration with respect to the Notes of a series 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 of such series may by Act, rescind
and annul such declaration and its consequences if: </font></p>

<p style="margin-left:0cm;margin-right:0cm;page-break-after:avoid;text-align:justify;text-indent:24.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1.&#160;&#160;&#160; BBVA has paid or deposited with the
Trustee a sum of money sufficient to pay: </font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(A)&#160;&#160;&#160;&#160; all overdue installments of any interest on
and Additional Amounts with respect to all Notes of such series; </font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(B)&#160;&#160;&#160;&#160; the principal of and any premium on any Notes
of such series 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-left:0cm;margin-right:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(C)&#160;&#160;&#160;&#160; 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; and </font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(D)&#160;&#160;&#160;&#160; all sums paid or advanced by the Trustee under
the Indenture 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>


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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-align:justify;text-indent:24.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160; the
Event of Default with respect to the Notes of such series 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Subject to the payment of certain amounts due to the Trustee (as set
forth in prong 1.(D) in the second immediately preceding paragraph), the
holders of not less than a majority in principal amount of the outstanding
Notes of a series on behalf of the holders of all the Notes of such series may,
by Act, waive any past default under the Indenture (with respect to such Notes)
and such 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 of such series or in respect of a covenant or provision of the
Indenture that cannot be modified or amended without the consent of the holder
of each outstanding Note of such series. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">No holder of any Note of any series has the right to institute any
proceeding, judicial or otherwise, with respect to the Indenture, or for the
appointment of a receiver or trustee, or for any other remedy thereunder,
unless (i)&nbsp;such holder has previously given written notice to the Trustee
of a continuing Event of Default with respect to the Notes of such series;
(ii)&nbsp;the holders of not less than 25% in principal amount of the
outstanding Notes of such series have made written request to the Trustee to
institute proceedings in respect of such Event of Default in its own name as
Trustee under the Indenture with respect to such 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)&nbsp;the Trustee for 60 days after its receipt of such notice, request
and offer of indemnity has failed to institute any such proceeding; and
(iv)&nbsp;no direction inconsistent with such written request has been given to
the Trustee during such 60-day period by the holders of a majority in principal
amount of the outstanding Notes of such series. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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 of the
relevant series, each holder of a Note will have the right, which 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,
such Note on or after the respective due dates therefor specified in such Note
(or, in the case of redemption, on or after the redemption date) and to
institute suit for the enforcement of any such payment, and such right cannot
be impaired or affected without the consent of such holder, except that holders
of not less than 75% in principal amount of the outstanding Notes of such
series may consent by Act, on behalf of the holders of all outstanding Notes of
such series, to the postponement of the due date of any installment of interest
for a period not exceeding three years from the original due date of such
installment (which original due date 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Notes of any series 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. No repayment or payment of
Amounts Due on the Notes of any series 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 that, 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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 of a series, the Trustee shall
transmit by mail to all holders of Notes of such series entitled to receive
reports, notice of such default, unless such default shall have been cured or
waived; </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">provided, however</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, that the Trustee shall be protected in
withholding 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 the Notes of such series. 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
of such series. </font></p>


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</DIV>
<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><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;">Act</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; means any request, demand,
authorization, direction, notice, consent, waiver or other action provided by
or pursuant to the Indenture to be given or taken by holders of the Notes of a
series and the written instrument or instruments in which such action is
embodied and by which such action is evidenced. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Substitution
and Modification </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Notwithstanding any other provision of the Notes or the Indenture, if
an Eligible Liabilities Event occurs and is continuing with respect to any
series of Notes, BBVA may substitute all (but not less than all) of the Notes
of such series or modify the terms of all (but not less than all) of the Notes
of such series, without the consent or approval of the holders or beneficial
owners of the Notes, so that the Notes are substituted by, or their terms are
modified to, become again, or remain, Qualifying Securities, subject to:
(i)&nbsp;having given not less than 30 nor more than 90 days&#8217; notice to the
holders of such Notes in accordance with the Indenture and to the Trustee
(which notice shall be irrevocable and shall specify the date for substitution
or, as applicable, modification); (ii) the prior consent of the Regulator, if
required pursuant to Applicable Banking Regulations; and (iii)&nbsp;any
variation in the terms of such Notes resulting from such modification or, if
such Notes are substituted, any difference between the terms of the Notes and
those of the Qualifying Securities by which such Notes are substituted, not
being materially prejudicial to the interests of the holders of such Notes and
BBVA having delivered an officer&#8217;s certificate to the Trustee to that effect
not less than five Business Days prior to (a)&nbsp;in the case of a
substitution of the Notes, the Issue Date of the relevant Qualifying Securities
by which the Notes are substituted or (b)&nbsp;in the case of a modification of
the terms and conditions of the Notes, the date such modification becomes
effective. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the case of a modification of the terms and conditions of the Notes
of a series, any variation in the ranking of such Notes resulting from any such
modification or, in the case of a substitution of the Notes, any difference
between the ranking of the Notes and that of the Qualifying Securities by which
the Notes are substituted, shall be deemed not to be prejudicial to the
interests of the holders of such Notes where the ranking of the Notes or, if
the Notes are substituted, of the Qualifying Securities by which the Notes are
substituted, following such substitution or modification, as the case may be,
is at least the same ranking as was applicable to the Notes of such series on
their Issue Date. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If the Notes of a series are substituted in accordance with the
paragraphs set forth above, the Notes of such series will cease to bear
interest from (and including) the date of such substitution. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">By its acquisition of any Note or any beneficial interest therein, each
holder and beneficial owner of Notes, (i)&nbsp;acknowledges, accepts, consents
to and agrees to be bound by the substitution of or modification to the terms
of the Notes as set forth above and to grant to BBVA and the Trustee full power
and authority to take any action and/or to execute and deliver any document in
the name and/or on behalf of such holder or beneficial owner, as the case may
be, which is necessary or convenient to complete the substitution of or
modification to the terms of the Notes, as applicable; and (ii)&nbsp;to the
extent permitted by the Trust Indenture Act, waives any and all claims, in law
and/or in equity, against the Trustee and/or BBVA for, agrees not to initiate a
suit against the Trustee and/or BBVA in respect of, and agrees that neither the
Trustee nor BBVA shall be liable for, any action that the Trustee or BBVA
takes, or abstains from taking, in either case in connection with the
substitution of or modification to the terms of the Notes upon the occurrence of
an Eligible Liabilities Event. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Among other provisions, in determining whether the holders of the
requisite principal amount of outstanding Notes of a series have given any
request, demand, authorization, direction, notice, consent or waiver under the
Notes of such series or the Indenture, any Note of such series owned by BBVA or
any other obligor upon such 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) of such series that will be deemed outstanding will be the amount
that would be declared due and payable as of the date of determination. </font></p>


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</DIV>
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</DIV>
<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Modifications and Waivers </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Modification
of the Indenture with 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-align:justify;text-indent:24.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">With the consent, as evidenced in an Act or
Acts, as the case may be, of the holders of not less than a majority in
principal amount of the Notes of each series outstanding immediately prior
thereto affected thereby, voting as a class, BBVA and the Trustee may enter
into an indenture or indentures supplemental to the Indenture for the purpose
of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Indenture or the Notes of such series or of modifying in any
manner the rights of the holders of the Notes of such series under the
Indenture and of waiving future compliance with respect to the Indenture and
the Notes of such series; </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">provided, however</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, that no such supplemental
indenture, without the consent of the holder of each Note outstanding
immediately prior thereto affected thereby, shall: </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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 such 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 the outstanding Notes of a series may consent
by Act, on behalf of the holders of all of the outstanding Notes of such
series, to the postponement of the due date of any installment of interest for
a period not exceeding three years from the original due date of such
installment (which original due date 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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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
(following an Event of Default) or the amount thereof provable in bankruptcy; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">change the redemption
provisions; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">reduce the percentage
in principal amount of outstanding Notes of a series the consent of whose
holders is required for any supplemental indenture or to waive compliance with,
or defaults under, the Indenture or reduce the requirement for a quorum or
voting; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">modify the provisions
of the Indenture that govern modification thereof 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 the 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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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 (including Additional Amounts), if
any, thereon;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">except in each case with respect to any modification or amendment of
the Indenture or the Notes which is entered into pursuant to, and in accordance
with, the provisions described below under &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Modification of the Indenture
without Consent of Holders</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; (in which each such case neither the consent
nor the affirmative vote of any holder of any Note affected will be required). </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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Subject to the payment of certain amounts
due to the Trustee, the holders of not less than a majority in principal amount
of the outstanding Notes of a series on behalf of the holders of all the Notes
of such series may, by Act, waive any past default under the Indenture (with
respect to such Notes) and such 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 of such series or in respect of a
covenant or provision of the Indenture that cannot be modified or amended
without the consent of the holder of each outstanding Note of such series. </font></p>

<p style="margin-bottom:12.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><i><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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 of the Notes of a series to: </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">evidence the succession
of another person to BBVA, and the assumption by any such successor of the
covenants of BBVA in such Indenture and in any Notes of such series; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">add to the covenants of
BBVA for the benefit of the holders of Notes of all or any series or to
surrender any right or power conferred upon BBVA under the Indenture, provided
that such Notes do not cease to be fully eligible for inclusion in the Eligible
Liabilities Amount as a result thereof and subject further to compliance with
the Applicable Banking Regulations; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">establish the form or
terms of the securities of any new series; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">evidence and provide
for the acceptance of appointment by a successor trustee with respect to the
Notes of one or more series and to add to or change any of the provisions of
the Indenture as is necessary to provide for or facilitate the administration
of the trusts by more than one trustee under the Indenture; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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 of any series in any material respect; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">add to, delete from or
revise the conditions, limitations and restrictions on the terms or purposes of
issue, authentication and delivery of Notes; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,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 the
discharge of any series of Notes, provided such action does not adversely
affect the interests of any holders of Notes of any series in any material
respect; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">add any additional
events of default for the benefit of the holders of Notes of any series; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">secure any Notes,
provided that no such Note ceases to be fully eligible for inclusion in the
Eligible Liabilities Amount as a result thereof and subject further to
compliance with the Applicable Banking Regulations; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">delete, amend or
supplement any provision of the Indenture provided such actions do not
materially adversely affect the interests of the holders of Notes outstanding
immediately prior thereto; </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">delete, amend or
supplement any provision of the Indenture or the Notes as a result of, and to
the extent necessary to effect, the substitution or modification of any Notes for
the purposes of becoming again or remaining Qualifying Securities; or </font></p>

<p style="margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">delete, amend or
supplement any provision of the Indenture or the Notes 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>


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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;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Satisfaction and Discharge </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Subject to compliance with the Applicable Banking Regulations and, if
required, the prior consent of the Regulator, BBVA may discharge certain
obligations to holders of Notes of any series that have not already been
delivered to the Trustee for cancellation and that have become due and payable
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. In addition, upon the exercise of the Spanish Bail-in
Power with respect to a series of Notes which results in the redemption,
cancellation, or the conversion into other securities, of all the Amounts Due
on the Notes of such series or such Notes otherwise ceasing to be outstanding,
the Indenture shall be deemed satisfied and discharged as to such series of
Notes and such Notes shall thereafter be deemed to be not outstanding. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Notes will not be subject to legal defeasance or covenant
defeasance, as each are described in the Indenture. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Nothing contained in the Indenture or in any of the Notes shall prevent
any reconstruction, consolidation, amalgamation or merger of BBVA with or into
any other person or persons (whether or not affiliated with BBVA), or
successive reconstructions, 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, transfer, 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); </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">provided that</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> any person formed by any
reconstruction, consolidation, amalgamation or merger, or any transferee or
lessee of BBVA&#8217;s assets shall expressly (except where such assumption is
automatic by operation of law) 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, any holding company or wholly-owned subsidiary of BBVA may
assume BBVA&#8217;s obligations under the Notes of any series without the consent of
any holder of Notes, provided that certain conditions are satisfied, including
that, immediately prior to such assumption, the successor person has ratings
for long-term senior debt assigned by Standard&nbsp;&amp; Poor&#8217;s Ratings
Services or Moody&#8217;s Investors Service, Inc. (or their respective successors)
which are the same as, or higher than, the credit rating for long-term senior
debt of BBVA (or, if applicable, the previous successor person) assigned by
Standard&nbsp;&amp; Poor&#8217;s Ratings Services or Moody&#8217;s Investors Service, Inc.
(or their respective successors). </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the event of any reconstruction, consolidation, amalgamation,
merger, sale, transfer, conveyance or lease, or any assumption of obligations
under the Notes of a series permitted by the Indenture, the acquiring,
resulting or successor person, as the case may be, shall succeed to, and
substitute, 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 person had been
named as BBVA in the Indenture, and BBVA or any legal and valid successor
person which shall theretofore have become such in the manner prescribed in the
Indenture, shall be released from all liability as obligor and any other
obligations and covenants under the Indenture and under any such Notes, as the
case may be. </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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the event the acquiring, resulting or
successor person is not incorporated or tax resident in Spain, Additional
Amounts under the Notes will thereafter be payable in respect of taxes imposed
by the acquiring, resulting or successor person&#8217;s jurisdiction of incorporation
or tax residence (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. In addition, such acquiring, resulting or
successor person not incorporated or tax resident in Spain will be entitled to
redeem the Notes in the circumstances described in the first paragraph of &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Redemption&#8212;Early
Redemption for Taxation or Listing Reasons</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; upon any change in or any
amendment to the laws or regulations of such acquiring, resulting or successor
person&#8217;s jurisdiction of incorporation or tax residence (including any treaty
to which it is a party) or any political subdivision or any authority or agency
thereof or therein having power to tax, or any change in the application or
official interpretation of such laws or regulations, provided that the relevant
change, amendment, application or interpretation has become effective
subsequent to the date of the reconstruction, consolidation, amalgamation,
merger, sale, transfer, conveyance, lease or assumption, 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;"><b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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 principal corporate trust office located at 240
Greenwich Street, New York, NY 10286 and the Indenture is administered by The
Bank of New York Mellon acting (except with respect to its role as security
registrar) through its London Branch at One Canada Square, London E14 5AL,
United Kingdom or such other location as notified by the Trustee to BBVA 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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 any Notes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">By its acquisition of any Notes, each holder of Notes, to the extent
permitted by the Trust Indenture Act, waives any and all claims, in law and/or
in equity, against the Trustee for, agrees not to initiate a suit against the
Trustee in respect of, and agrees that the Trustee shall 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 any Notes. Additionally, by its
acquisition of any Notes, each holder thereof acknowledges and agrees that,
upon the exercise of the Spanish Bail-in Power by the Relevant Spanish
Resolution Authority with respect to the Notes of any series, (i)&nbsp;the
Trustee shall not be required to take any further directions from holders with
respect to any portion of the Notes of such series that is written down,
converted to equity and/or cancelled under the provision 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 (ii)&nbsp;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. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Notwithstanding the foregoing, if, following the exercise of the
Spanish Bail-in Power by the Relevant Spanish Resolution Authority with respect
to any series of Notes, any Notes of such series remain outstanding (for
example, if such exercise results in only a partial write-down of the principal
amount of the Notes of such series), then there shall at all times be a trustee
for the Notes of such series in accordance with the Indenture, and the
resignation and/or removal of the Trustee and the appointment of a successor
trustee shall continue to be governed by the Indenture, including to the extent
no additional supplemental indenture or amendment is agreed between BBVA and
the Trustee 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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 rights or powers vested in it by the
Indenture at the request of any holder of Notes, unless such holders have
offered to the Trustee reasonable security or indemnity satisfactory to the
Trustee against the costs, expenses and liabilities which might be incurred
thereby. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA and some of its subsidiaries maintain deposits with and conduct
other banking transactions with The Bank of New York Mellon in the ordinary
course of business. </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;"><b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Trustee 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;"><b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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 become due and
payable will be paid 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 any payment which
such holder may be entitled to collect. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">All claims against BBVA for payment of principal, premium, interest or
Additional Amounts on or in respect of any Notes will become void unless made
within the earlier of (i)&nbsp;six years or (ii)&nbsp;any applicable shorter
period provided for under New York law, starting 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;"><b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Notes and the Indenture shall be governed by and construed in
accordance with 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
authorization, issuance and execution of the Notes by BBVA shall be governed by
and construed in accordance with the common laws of Spain. In addition, certain
provisions of the Notes and the Indenture related to the status and ranking of
the Notes, the waiver of the right of set-off and the agreement by holders of
Notes with respect to the exercise and effects of the Spanish Bail-in Power
shall be governed by and construed in accordance with the common laws of Spain.
</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Submission
to Jurisdiction </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Except as provided in the paragraph immediately below, BBVA irrevocably
submits to the non-exclusive jurisdiction of any U.S. federal or state court in
the Borough of Manhattan, The City of New York, New York, in any suit or
proceeding arising out of or relating to the Indenture or the Notes and
irrevocably waives, to the extent it may effectively do so, any objection which
it may have now or hereafter to the laying of the venue of any such suit or
proceeding. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Notwithstanding any other provision of the Notes or the Indenture, the
Spanish courts shall have exclusive jurisdiction in respect of any Bail-in
Dispute and accordingly each of BBVA, the Trustee, each holder and beneficial
owner of any Note and each paying agent, transfer agent, authenticating agent and
security registrar submits, to the extent it may effectively do so, to the
exclusive jurisdiction of the Spanish courts in relation to any Bail-in
Dispute. Each of BBVA, the Trustee, each holder and beneficial owner of any
Notes and each paying agent, transfer agent, authenticating agent and security
registrar further irrevocably waives, to the extent it may effectively do so,
any objection to the Spanish courts on the grounds that they are an
inconvenient or inappropriate forum in respect of any Bail-in Dispute. </font></p>


<DIV bclFooter>


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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;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Agreement with Respect to the 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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 of the
Notes, by its acquisition of any Notes, each holder (including each holder of a
beneficial interest in the Notes) acknowledges, accepts, consents to and agrees
to be bound by: (i)&nbsp;the exercise and effects of the Spanish Bail-in Power
by the Relevant Spanish Resolution Authority, which may be imposed with or
without any prior notice with respect to the Notes of any series, and may
include and result in any of the following, or some combination thereof:
(a)&nbsp;the reduction or cancellation of all, or a portion, of the Amounts Due
on such Notes; (b)&nbsp;the conversion of all, or a portion, of the Amounts Due
on such 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 such Notes; (c)&nbsp;the cancellation of such Notes;
(d)&nbsp;the amendment or alteration of the maturity of such Notes or amendment
of the amount of interest payable on such Notes, or the date on which the
interest becomes payable, including by suspending payment for a temporary
period; and (ii)&nbsp;the variation of the terms of the Notes of any series, or
the rights of the holders thereunder or under the Indenture, as deemed
necessary by the Relevant Spanish Resolution Authority, 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-align:justify;text-indent:24.5pt;"><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;">Amounts Due</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;, with respect to the Notes of a series, means the
principal amount of or outstanding amount (if applicable), together with any
accrued but unpaid interest, Additional Amounts and premium (if any) due on the
Notes of such series. References to such amounts will include amounts that have
become due and payable, but which have not been paid, prior to the exercise of
the Spanish Bail-in Power by the Relevant Spanish Resolution Authority.
References to such amounts will also include amounts held in trust by BBVA, any
paying agent or the Trustee pursuant to the Indenture. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">By its acquisition of 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 of any series, 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 of any
series, shall: (i)&nbsp;give rise to a default or event of default for purposes
of Section&nbsp;315(b) (Notice of Defaults) and Section&nbsp;315(c) (Duties of
the Trustee in Case of Default) of the Trust Indenture Act or (ii)&nbsp;be a
default or an Event of Default with respect to the Notes of any series or under
the Indenture. By its acquisition of any Notes, each holder of Notes 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 that, 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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">By its acquisition of any Notes, each holder of Notes, to the extent
permitted by the Trust Indenture Act, waives any and all claims, in law and/or
in equity, against the Trustee for, agrees not to initiate a suit against the
Trustee in respect of, and agrees 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 of any series.
Additionally, by its acquisition of any Notes, each holder of Notes
acknowledges and agrees that, upon the exercise of the Spanish Bail-in Power by
the Relevant Spanish Resolution Authority with respect to the Notes of any
series: (i)&nbsp;the Trustee will not be required to take any further
directions from the holders of Notes with respect to any portion of the Notes
that is written down, converted to equity and/or cancelled under the Indenture;
and (ii)&nbsp;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; </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">provided, however</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, that
notwithstanding the exercise of the Spanish Bail-in Power by the Relevant
Spanish Resolution Authority with respect to the Notes of any a series, so long
as any Notes of such series remain outstanding, there will at all times be a
trustee for the Notes of such series 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 of such series remain outstanding following the completion of the
exercise of the Spanish Bail-in Power. </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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">By its acquisition of any Notes, each
holder of Notes 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 actions, if required,
to implement the exercise of the Spanish Bail-in Power with respect to such
Notes as it may be imposed, without any further action or direction on the part
of such holder of Notes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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 of a series, 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 of
such series. 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;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 3. Key Information&#8212;Risk Factors&#8212;Regulatory, Tax and
Reporting Risks&#8212;Regulatory Risks&#8212;The Group is subject to a broad regulatory and
supervisory framework, including resolution regulations, which could have a
significant 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;
and &#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;Principal Markets&#8212;Spain&#8212;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;">&#8221; in our Annual Report.</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Subsequent
Holders&#8217; Agreement </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Holders of any Notes that acquire such Notes in the secondary market or
otherwise shall be deemed to acknowledge and agree to be bound by and consent
to the same provisions specified herein and in the Indenture to the same extent
as the holders that acquire such Notes upon their initial issuance, including,
without limitation, with respect to the acknowledgement and agreement to be
bound by and consent to the terms of the Notes related to the exercise and
effects of the Spanish Bail-in Power set forth under &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Agreement with
Respect to the Exercise of the Spanish Bail-in Power</font></i><font face="Times New Roman,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;"><b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA or any of its subsidiaries may at any time purchase the Notes at
any price in the open market or otherwise (subject to such purchase being in
compliance with Applicable Banking Regulations then in force, and subject to
the prior consent of the Regulator if required pursuant to such regulations).
Purchased Notes may be held, resold or, at the option of BBVA, surrendered to
the Trustee for cancellation (subject to such holding, resale or cancellation
being in compliance with Applicable Banking Regulations). </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Indenture provides for the timely provision by the Paying Agent of
a duly executed and completed Payment Statement in connection with each payment
of income (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;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">income</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#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 such 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 such 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>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font face="Times New Roman,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 the Notes of a series (other than in the
event of a Redemption for Failure to List), then the related payment will be
subject to Spanish withholding tax,. If this were to occur, BBVA would not pay
Additional Amounts. </font></p>


<DIV bclFooter>


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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;"><b><font face="Times New Roman,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-align:justify;text-indent:24.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">All notices to holders of Notes shall be validly given if in writing
and mailed first-class postage prepaid to them at their respective addresses in
the register maintained by the security registrar. While the Notes are in
global form, any notice given to the holder of a Note shall be sufficiently given
if such notice is given to such holder through DTC, in accordance with DTC&#8217;s
applicable procedures from time to time.</font></p>




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<DESCRIPTION>EXHIBIT 10.1
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<title>EXHIBIT 10.1</title>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin:0cm;margin-bottom:.0001pt;margin-left:0cm;margin-right:10.95pt;margin-top:3.9pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Exhibit 10.1</font></p>

<p align=right style="margin:0cm;margin-bottom:.0001pt;margin-left:0cm;margin-right:10.95pt;margin-top:3.9pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">EXECUTION VERSION</font></p>

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

<div style="border:none;border-top:solid black 1.0pt;padding:0cm 0cm 0cm 0cm;">

<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 face="Times New Roman,serif" lang=EN-US style="font-size:4.0pt;line-height:1.0pt;">&nbsp;</font></p>

</div>


<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.45pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SHARE PURCHASE
AGREEMENT</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:7.3pt;margin-top:7.8pt;text-align:center;text-indent:-28.75pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">BETWEEN</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=ES style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=ES style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:8.05pt;text-align:center;"><b><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">BANCO BILBAO VIZCAYA ARGENTARIA,
S.A.</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=ES style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=ES style="font-size:13.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:7.75pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:8.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE PNC FINANCIAL
SERVICES GROUP, INC.</font></b></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.25pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:.25pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">____________________________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.25pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">NOVEMBER 15, 2020</font></b></p>

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

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

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

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

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

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<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:3.8pt;text-align:center;"><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TABLE OF CONTENTS</font></u></b></p>

<p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;"><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Page</font></u></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE I</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">DEFINITIONS</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 1.1</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Definitions</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">1</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 1.2</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Interpretation and
  Construction</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">17</font></p>
  </td>
 </tr>
</table></div>



<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:12.1pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
II</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:13.65pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE TRANSACTION</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.1</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Purchase</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">18</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.2</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">The Closing; Closing
  Deliverables</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">19</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.3</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Tax Treatment</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">20</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.4</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Withholding</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">20</font></p>
  </td>
 </tr>
</table></div>



<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:12.1pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
III</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:13.7pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">REPRESENTATIONS AND WARRANTIES OF SELLER</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.1</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Organization, Standing and
  Authority</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">21</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.2</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Capital Structure</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">21</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.3</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">The Company&#8217;s Subsidiaries</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">22</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.4</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Corporate Authorization and
  Binding Effect</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">23</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.5</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Regulatory Filings; No
  Defaults</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">23</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.6</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Company&#160; SEC&#160; Reports;&#160;
  Financial&#160; Statements;&#160;&#160; No&#160;&#160; Material&#160;&#160; Adverse</font></u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;"> </font><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Effect&nbsp;</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">24</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.7</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Material Contracts</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">26</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.8</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Property</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">28</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.9</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Compliance with Laws</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">28</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.10</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Derivative Instruments</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">30</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.11</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Litigation</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">30</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.12</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">No Brokers</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">30</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.13</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Employee Benefit Plans</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">30</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.14</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Labor Matters</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">33</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.15</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Taxes</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">34</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.16</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Insurance</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">36</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.17</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Intellectual Property</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">36</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.18</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Privacy and Cybersecurity</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">37</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.19</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Extensions of Credit</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">38</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.20</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Certain Loan Matters</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">39</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.21</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Trust Business</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">39</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.22</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Compliance with Environmental
  Laws</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">40</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.23</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Use of Assets</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">40</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.24</font></p>
  </td>
 <td nowrap valign=top width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">No Other Representations or
  Warranties</font></u></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">41</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:17.95pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">-i-</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_3"></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 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:180.25pt;margin-right:180.25pt;margin-top:3.8pt;text-align:center;"><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:160%;">TABLE OF CONTENTS</font></u></b></p>

<p style="margin-bottom:.0001pt;margin-left:180.25pt;margin-right:180.25pt;margin-top:3.8pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:160%;">ARTICLE IV</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:5.25pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">REPRESENTATIONS AND WARRANTIES OF PURCHASER</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.1</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Organization, Standing and
  Authority</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">41</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.2</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Corporate Authorization and
  Binding Effect</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">42</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.3</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Regulatory Filings; No
  Defaults</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">42</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.4</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">No Brokers</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">43</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.5</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Litigation</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">43</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.6</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Availability of Funds</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">43</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.7</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Investment</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">43</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.8</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">No Other Representations or
  Warranties</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">43</font></p>
  </td>
 </tr>
</table></div>



<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:12.15pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE V</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:13.65pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">COVENANTS</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.1</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Access and Reports</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">43</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.2</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Conduct of the Business</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">45</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.3</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Efforts; Regulatory Filings
  and Other Actions</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">50</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.4</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Notice of Changes</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">51</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.5</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Confidentiality</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">52</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.6</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Publicity</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">53</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.7</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Non-Compete; Non-Solicitation</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">53</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.8</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Employee Non-Solicitation</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">55</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.9</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Taxes</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">56</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.10</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Employee Matters</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">62</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.11</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Intellectual Property</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">65</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.12</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Intercompany Items</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">67</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.13</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Insurance</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">67</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.14</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Carve-Out Transactions</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">67</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.15</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Release</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">67</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.16</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Further Assurances</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">68</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.17</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Removal; Resignations</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">68</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.18</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">D&amp;O Indemnification and
  Insurance</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">68</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.19</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Other Offers</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">69</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.20</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Transaction Documents</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">70</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.21</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Updated Financial Information</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">70</font></p>
  </td>
 </tr>
</table></div>



<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:12.1pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
VI</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:13.65pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">CONDITIONS TO CLOSING</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 6.1</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Conditions to the Obligations
  of Purchaser and Seller</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">70</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 6.2</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Conditions to the Obligations
  of Purchaser</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">71</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 6.3</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Conditions to the Obligations
  of Seller</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">71</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:12.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">-ii-</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:180.25pt;margin-right:180.25pt;margin-top:3.8pt;text-align:center;"><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:160%;">TABLE OF CONTENTS</font></u></b></p>

<p style="margin-bottom:.0001pt;margin-left:180.25pt;margin-right:180.25pt;margin-top:3.8pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:160%;">ARTICLE VII</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:5.25pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TERMINATION</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 7.1</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Termination</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">72</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 7.2</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Effect of Termination</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">73</font></p>
  </td>
 </tr>
</table></div>



<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:12.1pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
VIII</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:13.65pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">GENERAL PROVISIONS</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.1</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Survival of Representations
  and Warranties; Indemnification</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">73</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.2</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Waiver; Amendment</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">79</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.3</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Entire Agreement</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">79</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.4</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Assignment</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">79</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.5</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Specific Performance</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">79</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.6</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Counterparts</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">79</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.7</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Notices</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">79</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.8</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Provisions Separable</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">81</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.9</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Parties in Interest</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">81</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.10</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Expenses</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">81</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.11</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Deadlines</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">82</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.12</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Waiver of Jury Trial</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">82</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.13</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Governing Law; Consent to
  Jurisdiction</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">82</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=top width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.14</font></p>
  </td>
 <td nowrap valign=top width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Waiver of Force Majeure Event</font></u></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">83</font></p>
  </td>
 </tr>
</table></div>



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<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></b></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=18% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Annex A</font></p>
  </td>
 <td nowrap width=82% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Requisite Regulatory Approvals</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=18% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Annex B</font></p>
  </td>
 <td nowrap width=82% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Form of Transitional Services
  Agreement</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=18% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Annex C</font></p>
  </td>
 <td nowrap width=82% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Form of Reverse Transitional
  Services Agreement</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=18% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Annex D</font></p>
  </td>
 <td nowrap width=82% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Form of Transitional
  Trademark License</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;">&nbsp;</font></p>

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

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

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

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

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

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

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

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">-iii-</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SHARE PURCHASE AGREEMENT</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.4pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SHARE PURCHASE AGREEMENT, dated as of November 15, 2020 (this &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;),
between Banco Bilbao Vizcaya Argentaria, S.A., a </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">sociedad an&#243;nima </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">organized
under the laws of the Kingdom of Spain (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) and The PNC Financial
Services Group, Inc., a corporation organized under the laws of Pennsylvania (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">RECITALS</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:22.55pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">A.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">BBVA USA Bancshares,
Inc., a corporation organized under the laws of the state of Texas (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
and a wholly owned Subsidiary of Seller, is a financial holding company
conducting its business operations primarily through its commercial banking
subsidiary BBVA USA, an Alabama-chartered bank (the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Bank</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:24.9pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">B.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller owns all the
issued and outstanding shares of Capital Stock of the Company (the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Shares</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:20.9pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">C.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subject to the terms
and conditions set forth herein, Seller desires to sell, convey, assign and deliver
(&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transfer</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) to Purchaser, and Purchaser desires to purchase and accept
(&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchase</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) from Seller, all the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Shares.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:40.2pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">D.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Prior to the Closing
(as defined herein), Seller and the Company will effectuate the Carve-Out</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.15pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">NOW, THEREFORE, in consideration of the premises and the mutual
representations, warranties, covenants and undertakings contained herein, and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:205.3pt;margin-right:205.25pt;margin-top:4.5pt;text-align:center;text-indent:-.1pt;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE I</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:205.3pt;margin-right:205.25pt;margin-top:4.5pt;text-align:center;text-indent:-.1pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">DEFINITIONS</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.75pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.1&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Definitions</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. In this Agreement, the following definitions and other terms shall</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">apply:&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:20.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Acquisition Proposal</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.19</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:20.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Action</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any civil, criminal, regulatory or administrative
action, cause of action, suit, demand, claim, case, litigation, arbitration,
opposition, objection, cancellation, inquiry, hearing, dispute, investigation
or other proceeding.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Affiliate</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means, with respect to any specified Person, any
other Person directly or indirectly controlling, controlled by or under common
control with such specified Person. For the purposes of this definition, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">control</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
when used with respect to any specified Person means the power to direct the
management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by Contract or otherwise; and the terms &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">controlling</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
and &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">controlled</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; have correlative meanings to the foregoing.</font></p>









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</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.1pt;margin-top:3.9pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means this Agreement,
as may be amended and supplemented from time to time in accordance with</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
Section 8.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, including the Seller&#8217;s Disclosure Schedule, the Purchaser&#8217;s
Disclosure Schedule and all Annexes hereto.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:26.75pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AML Laws</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means (i) the USA Patriot Act of 2001, as amended,
(ii) the U.S. Money Laundering Control Act of 1986, as amended, (iii) the Bank
Secrecy Act, as amended,</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:26.4pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv) any other
anti-money laundering Laws to which the Company or any of its Subsidiaries is
subject or (v) any other regulation or guidance related to any of the
foregoing.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:16.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Anticorruption Laws</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the U.S. Foreign Corrupt
Practices Act of 1977, as amended, and all other U.S. federal, state or local
and foreign anti-corruption and anti-bribery Laws applicable to the Company or
any of its Subsidiaries.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:107.75pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Applicable Date</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section
3.6(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Bank</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in the Recitals.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:36.4pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Bankruptcy and Equity Exception</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth
in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section 3.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Basket</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section
8.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.4pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Benefit Plan</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means each employee benefit plans (as defined
in Section 3(3) of ERISA), whether or not subject to ERISA, and each equity,
bonus or incentive, deferred compensation, retiree medical or life insurance,
supplemental retirement, severance, termination, change in control, retention,
employment, welfare, insurance, medical, fringe or other benefit plan, program,
agreement, contract, policy, arrangement or remuneration of any kind with
respect to which the Company or any Subsidiary or any Company ERISA Affiliate
is a party or has any current or future obligation or that are maintained,
contributed to or sponsored by the Company or any of its Subsidiaries or any
Company ERISA Affiliate for the benefit of any current or former employee,
officer, director or independent contractor of the Company or any of its
Subsidiaries or any Company ERISA Affiliate, excluding, in each case, any
Multiemployer Plan.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;margin-right:0cm;margin-top:4.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">BHC Act</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
means the Bank Holding Company Act of 1956, as amended.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">BPSI Transfer</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the Transfer by the relevant Company
Subsidiary to the Seller or one of its Affiliates (as may be designated by
Seller), of all the issued and outstanding capital stock of BBVA Processing
Services Inc., a California corporation (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">BPSI</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), which Transfer, for
the avoidance of doubt, shall be effectuated through a distribution of such
BPSI shares from the Company to the Seller or its designee, which distribution
shall be recorded at fair market value and as a reduction to the Company&#8217;s
capital.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:34.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">BSI Transfer</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the Transfer by the Company to the
Seller or one of its Affiliates (as may be designated by Seller) of all the
issued and outstanding capital stock of BBVA Securities, Inc., a Delaware
corporation and registered U.S. broker-dealer (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">BSI</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;),&nbsp;</font></p>


<DIV bclFooter>

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</DIV>


</div><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_7"></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 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:34.05pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">through a distribution of such BSI shares from the Company to the
Seller or its designee and recorded at fair market value and as a reduction to
the Company&#8217;s capital</font><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:41.4pt;margin-top:11.95pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Business Day</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any day excluding Saturday, Sunday and
any day on which banking institutions located in (i) Houston, Texas, (ii) New
York, New York,</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:49.1pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)
Birmingham, Alabama or (iv) Pittsburgh, Pennsylvania are authorized or required
by applicable Law or other governmental action to be closed.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Cap</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has
the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Capital
Stock</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.2(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.75pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Carve-Out Employee</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means each employee of the Carve-Out
Entities and any of their respective Subsidiaries who is employed as of
immediately prior to the Effective Time, or whose last day of employment with
Seller or any of its Affiliates was with a Carve-Out Entity or any of their
respective Subsidiaries.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Carve-Out
Entities</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means, collectively, BSI, BPSI and PV.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:17.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Carve-Out Tax Benefit</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means, with respect to each Carve-Out
Entity, any reduction in U.S. federal (and applicable state and local) income
Taxes otherwise payable as a result of any loss recognized for U.S. federal
income Tax purpose with respect to the Carve-Out Transaction involving such
Carve-Out Entity.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Carve-Out Tax Cost</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means, with respect to each Carve-Out
Entity, any increase in U.S. federal (and applicable state and local) income
Taxes otherwise payable (determined without taking into account any credit,
refund, loss, deduction or other Tax attribute) as a result of any income or
gain recognized for U.S. federal income tax purposes with respect to the Carve-
Out Transaction involving such Carve-Out Entity.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:49.75pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Carve-Out Transactions</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means, collectively, the BSI
Transfer, the BPSI Transfer and PV Transfer.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:33.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">CECL</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means Current Expected Credit Losses, a new credit
loss accounting standard that was issued by the Financial Accounting Standards
Boards on June 16, 2016, pursuant to Accounting Standards Update (ASU) No.
2016, Topic 326, which the Company adopted on January 1, 2020.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:115.4pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Claim Notice</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section 8.1(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">.
&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Closing</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section 2.2(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Closing
Date</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; means the date on which the Closing occurs.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">Closing Statement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">Section
2.2(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">.&nbsp;</font></p>









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</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_8"></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 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Code</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the Internal Revenue Code of 1986.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:78.05pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Combined Tax Return</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section
5.9(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Common Stock</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section
3.2(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Company</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in the Recitals.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">Company 401(k) Plan</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">Section
5.10(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:17.05pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company Benefit Plans</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means each Benefit Plan that is
maintained, sponsored or entered into solely by the Company or any of its
Subsidiaries or is maintained primarily or exclusively for the benefit of
current or former employees, officers, directors or independent contractors of
the Company and its Subsidiaries.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.05pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company ERISA Affiliate</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any trade or business of the
Company or any of its Subsidiaries, whether or not incorporated, all of which
together with the Company would be deemed a &#8220;single employer&#8221; within the
meaning of Section 4001 of ERISA.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.05pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company IT Assets</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the IT Assets owned or controlled
by the Company or any of its Subsidiaries.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:56.05pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Company Marks</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section
5.11(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Company Qualified Plans</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section
3.13(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.05pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company SEC Reports</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the forms, statements, certifications,
reports and documents publicly filed with or furnished to the SEC by the
Company pursuant to the Exchange Act or the Securities Act, including any
amendments thereto and those that may be filed or furnished subsequent to the
date of this Agreement (excluding, in each case, any disclosures set forth in
any risk factor section or in any other section to the extent they are
forward-looking statements or cautionary, predictive or forward-looking in
nature).</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:33.75pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Company Tax Return</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Section
5.9(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Company Transaction Expenses</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; means without duplication (i)
to the extent</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:14.7pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">incurred prior
to the Closing Date in connection with the negotiation, execution or delivery
of this Agreement or any other Transaction Documents or consummation of the
Transactions, the out-of-pocket fees and expenses incurred by, or on behalf of,
and paid or to be paid, directly by the Company or its Subsidiaries, including
to any Person that any of the Company or its Subsidiaries prior to the Closing agrees
to pay or reimburse, or is otherwise legally obligated to pay or reimburse in
connection with the foregoing, including (x) all fees and expenses of counsel,
advisors, consultants, investment bankers, accountants, auditors and any other
experts and (y) all brokers&#8217;, finders&#8217; or similar fees; (ii) any and all annual
bonuses or severance payable by the Company (including the cash value of any
non-cash severance payable) to Carve-Out Employees and Other U.S. Employees, in
each case, as a result of the execution of this</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">4</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.8pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement, the Carve-Out Transactions or the consummation of the
Transactions; and (iii) any and all amounts payable by the Company under the
agreements and plans listed on Section 1.1(a) of the Seller&#8217;s Disclosure
Schedule. For the avoidance of doubt, all fees and expenses of Seller and its
Affiliates (other than the Company or its Subsidiaries) will be borne
separately by Seller pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.10</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> hereof and shall not under
any circumstances constitute Company Transaction Expenses.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.8pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company Transaction Expenses Tax Benefit</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the excess
of (i) the actual reduction in income Taxes payable (determined on a &#8220;with and
without&#8221; basis) by (A) the consolidated U.S. federal income Tax Return group of
which the Company is the common parent for the Tax year of such group ending on
the Closing Date, and (B) the consolidated U.S. federal income Tax Return group
of which Purchaser is the common parent for the Tax year of such group that
includes the Closing Date, in each case, as a result of any deduction claimed
with respect to Company Transaction Expenses, over (ii) the employer portion of
any payroll Taxes paid by Purchaser, the Company or any of their respective
Subsidiaries in respect of amounts described in clauses (ii) or (iii) of the
definition of Company Transaction Expenses.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Competing
Retail Banking Business</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.1pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:57.1pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Confidentiality Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the confidentiality
agreement, dated September 12, 2020, between Seller and Purchaser.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:28.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Constituent Documents</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the charter documents, bylaws
or similar organizational documents of a corporation and comparable
organizational documents of other entities.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.1pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Contagion Event</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the outbreak or continued presence of
contagious disease, epidemic or pandemic (including SARS-CoV-2 or COVID-19, or
any evolutions or mutations of thereof, or any other viruses (including
influenza)), and the governmental responses thereto).</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.8pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Contagion Event Measures</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any quarantine, &#8220;shelter in place&#8221;,
&#8220;stay at home&#8221;, workforce reduction, social distancing, shut down, closure,
sequester or other directives, guidelines or recommendations promulgated by any
Government Authority, including the Centers for Disease Control and Prevention
and the World Health Organization, in each case, in connection with or in
response to a Contagion Event.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:29.75pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Contract</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means, with respect to any Person, any agreement,
indenture, debt instrument, contract, lease or other binding commitment to
which such Person or any of its Subsidiaries is a party or by which any of them
is bound or to which any of their properties is subject.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.15pt;margin-top:3.9pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Current Employee</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.10(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">5</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.15pt;margin-top:3.9pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Dataroom</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the electronic
data room established for &#8220;Project Comet&#8221; at https://americas.datasite.com as
populated at 12:01 a.m. New York time on the Business Day immediately preceding
the date hereof and such other documents that may be included therein, at
Purchaser&#8217;s request, following such time.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Derivative
Contract</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.10</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Disclosure Schedule</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the Seller&#8217;s Disclosure Schedule
or the Purchaser&#8217;s Disclosure Schedule, as the case may be.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:24.1pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Effective Time</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; means 12:01 a.m. New York time on the
Closing Date. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Environmental Laws</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; means all laws (civil, criminal or
common), ordinances,</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:21.2pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">rules,
regulations, guidelines and orders that: (w) regulate air, water, soil and
solid waste management, including the generation, release, containment,
storage, handling, transportation, disposition or management of any Hazardous
Substance; (x) regulate or prescribe requirements for air, water or soil
quality; (y) are intended to protect public health from exposure to any
hazardous or toxic substance or to protect the environment; or (z) establish
liability for the investigation, removal or cleanup of, or damage caused by,
any Hazardous Substance.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ERISA</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
means the Employee Retirement Income Security Act of 1974, as</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">amended.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">E.U.</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
means the European Union.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:67.05pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Exchange Act</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; means the Securities Exchange Act of 1934. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Excluded
Customers</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section 5.7(b)(ii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Excluded
Taxes</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means (a) any Taxes imposed on Seller (including any Taxes</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.15pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">required to be
withheld from the payment of the Purchase Price) or any of its Affiliates
(other than the Company and its Subsidiaries) for any taxable period, (b) any
Taxes imposed on the Company, any of its Subsidiaries or the Carve-Out Entities
for any Seller Tax Period, determined, with respect to any Straddle Period, in
accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(a)(ii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, (c) any Taxes attributable to or
arising from (i) the BSI Transfer, the BPSI Transfer or the PV Transfer or (ii)
any action taken pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.12</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, (d) any Taxes attributable to
or arising from any breach by Seller of its representations or warranties in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
3.15</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (without giving effect to any limitations as to materiality or
&#8220;Material Adverse Effect&#8221; set forth therein) or its covenants in this
Agreement, (e) any liability for Taxes of any Person (other than the Company or
any of its Subsidiaries) for which the Company or any of its Subsidiaries is
liable as a result of having been a member of an affiliated, consolidated,
combined, unitary or similar group prior to the Closing and any liability for
the payment of any Tax as a transferee or successor, by contract or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">otherwise (in each case, as a result of a
transaction or contract entered into prior to the Closing), (f) any Taxes
attributable to or arising from the failure of the certificate delivered
pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">2.2(c)(iv)&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> to be true and correct, (g) any
Transfer Taxes for which Seller is responsible</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">pursuant&nbsp;</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:16.2pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, (h) any Tax obligations for any Seller Tax
Period that have been deferred pursuant to the Coronavirus Aid, Relief, and
Economic Security Act or similar statutory relief and (i) reasonable costs and
expenses (including attorneys&#8217; and other advisors&#8217; fees) related to any item
described in clauses (a) through (h); </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that, notwithstanding
anything to the contrary herein, any (x) Taxes arising in a Purchaser Tax
Period are not Excluded Taxes (except for (1) Taxes described in clause (a),
(c), (e), (f), (g) or (h) of this definition or (2) Taxes attributable to or
arising from any breach by Seller of its representations or warranties
contained in clauses (f), (h), (i), (j) or (n) of Section 3.15 (without giving
effect to any limitations as to materiality or &#8220;Material Adverse Effect&#8221; set
forth therein) or its covenants in this Agreement) and (y) no Taxes shall be
considered Excluded Taxes to the extent any current liability for such Taxes is
reflected in the Company&#8217;s Quarterly Report filed on Form 10-Q with the SEC for
the quarter ended September 30, 2020, such Taxes have been taken into account
for purposes of adjusting the Purchase Price pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
2.02(c)(i)(A)(2)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, or payment has been made pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(e)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:94.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Extensions of Credit</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">
Section 3.19</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">FDIC</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section 3.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:14.75pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Federal Reserve</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; means the Board of Governors of the Federal
Reserve System. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Financial Statements</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section
3.6(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:67.05pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">FINRA</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; means the Financial Industry Regulatory Authority. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">GAAP</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221;
means generally accepted accounting principles in the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;line-height:186%;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">U.S.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:26.7pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Governmental Authority</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any Spanish, E.U. or other
non-U.S., or U.S. federal, state, county, city or local legislative,
administrative, self-regulatory or regulatory authority, agency, court,
tribunal or judicial or arbitral body or other governmental or quasi- governmental
entity with competent jurisdiction, including any supranational</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">body.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:33.1pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Government Order</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any administrative decision or
award, decree, injunction, judgment, order, quasi-judicial decision or award,
ruling or writ of any arbitrator, mediator, tribunal, administrative agency or
Government Authority.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.75pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Government Shutdown</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any shutdown or material limiting
of certain U.S. or foreign federal, state or local government services.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.75pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Hazardous Substance</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means: (i) those substances defined in
or regulated under the Hazardous Materials Transportation Act, the Resource
Conservation and Recovery Act, the Comprehensive Environmental Response,
Compensation and Liability Act, the Clean Water Act, the Safe Drinking Water
Act, the Atomic Energy Act, the Federal Insecticide, Fungicide, and Rodenticide
Act and the Clean Air Act, and their state counterparts, as each may be amended
from time to time, and all regulations thereunder; (ii) petroleum and petroleum
products,</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">7</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:27.55pt;margin-top:3.9pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">including crude oil and any fractions
thereof; (iii) natural gas, synthetic gas, and any mixtures thereof; (iv)
polychlorinated biphenyls, asbestos and radon; and (v) any substance, material
or waste regulated by any Governmental Authority pursuant to any Environmental Law.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:49.05pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Indemnified Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Section
8.1(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Indemnifying Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Section
8.1(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Institutional Entities</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; means U.S. domestic or foreign
commercial banks,</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:29.45pt;margin-top:.6pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">insurance
companies, registered investment companies, pension funds, asset and wealth
managers, hedge funds, private or infrastructure funds and other financial
sponsors, private banks, broker-dealers, clearing houses, registered investment
advisors or substantially similar financial institutions.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Intellectual Property</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any of the following, whether
or not registered, and all rights therein, arising in the U.S. or any other
jurisdiction throughout the world:</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.2pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">trademarks, service
marks, Internet domain names, logos, brand names, common law trademark rights,
trade dress and trade names and other indicia of origin, registrations and
applications for registration of the foregoing, and the goodwill associated
therewith and symbolized thereby, (ii) rights in all works of inventorship,
including all patents and patent applications and all divisions, continuations,
continuations-in-part, reissues, reexaminations, and any extensions thereof,
(iii) confidential and proprietary information, including trade secrets and
know-how and (iv) websites, copyrights (including rights in works of authorship
including all computer software (in object code and source code), registrations
and applications for registration of the foregoing, and all renewals,
extensions, reversions and restorations thereof, and (v) any other similar
intellectual property</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">rights.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:22.8pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Intercompany Payables</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means all account, note or loan
payables and all advances (cash or otherwise) or any other extensions of credit
that are payable by Seller or any of its Affiliates (other than the Company or its
Subsidiaries) to the Bank, the Company or its other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.85pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Intercompany Receivables</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means all account, note or loan
payables and all advances (cash or otherwise) or any other extensions of credit
that are receivable by Seller or any of its Affiliates (other than the Company
or its Subsidiaries) from the Bank, the Company or its other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IRS</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
means the Internal Revenue Service.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:38.8pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IT Assets</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any and all computers, software, firmware,
middleware, servers, workstations, routers, hubs, switches, data communications
lines and all other information technology equipment, and all associated
documentation (excluding any public networks).</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:20.35pt;margin-top:3.9pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">JV Clients</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means such Persons, counterparties or sponsors
in which Non-U.S. Clients, Large Corporate Entities or Institutional Entities
maintain an ownership interest of at least twenty-five percent (25%).</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:13.1pt;margin-top:0cm;text-indent:72.0pt;"><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Knowledge</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means, as of any date, (a) with respect to Seller, the knowledge
as of such date of any of the officers of the Seller or the Company listed on
Section 1.1(b) of Seller&#8217;s Disclosure Schedule and (b) with respect to the
Purchaser, the knowledge as of such date of any of the officers of Purchaser
listed on Section 1.1(b) of Purchaser&#8217;s Disclosure Schedule, in each case, referring
to the knowledge that each such individual has or would ordinarily have based
on his or her respective position.</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:32.4pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Large
Corporate Entities</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means U.S. Persons with consolidated revenues in excess
of $3,000,000,000.</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:30.8pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Law</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
means any foreign, federal, state or local law (including common law), statute,
code, ordinance, rule, regulation, order, award, writ, decree, directive or
injunction issued, promulgated or entered into by or with any Governmental
Authority.</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:22.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Lien</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
means any charge, mortgage, pledge, security interest, restriction, claim, lien
or other similar encumbrance.</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:23.6pt;margin-top:0cm;text-align:justify;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Losses</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any damages, losses, payments, judgments,
out-of-pocket costs and expenses (including reasonable and documented legal
fees), liabilities, obligations, Taxes, interests, awards and penalties,
including as a result of Actions.</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:83.0pt;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth
in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.11(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:14.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Material
Adverse Effect</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any change, effect, event or occurrence that,
individually or in the aggregate, (i) has been or would reasonably be expected
to be materially adverse to the business, financial condition, or the results
of operations of the Company and its Subsidiaries, taken as a whole, or (ii)
prevents or materially impairs the consummation of the Transactions; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
that none of the following (or the results thereof), either alone or in
combination, shall constitute or contribute to a Material Adverse Effect under
clause (i): (a) any change in GAAP or regulatory accounting requirements, or
any adoption, proposal, implementation or change in Law (including any Law in
respect of Taxes, and Laws newly enacted for, relating to or arising out of
efforts to implement Contagion Event Measures and address the spread of any
Contagion Event) or any interpretation thereof by any Government Authority; (b)
changes, events, conditions or trends in economic, business, credit or
financial conditions generally affecting the banking and financial sector
specifically, and changes in the capital or credit markets, including any
downgrades in the credit markets, or adverse credit events resulting in
deterioration in the credit markets generally (including any such change
resulting from or arising out of a Contagion Event); (c) any change in global
or national political conditions (including as result of the outbreak of war,
acts of terrorism or a Contagion Event);</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:32.2pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d) changes as
the result of other international, national, or regional calamity or global
health conditions, including any Contagion Event (and the related Contagion
Event Measures), any</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:17.15pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Government Shutdown, any declaration of martial law or similar
directive, guidance, policy or guidance or other action by any Governmental
Authority; (e) any change generally affecting the</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.8pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">U.S. financial
services industry and not specifically relating to the Company or the Bank; (f)
any change resulting from or arising out of hurricanes, earthquakes, floods, or
other natural disasters;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:18.8pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(g)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the execution,
announcement or performance of this Agreement or consummation of the
Transactions (it being understood and agreed that this clause (g) shall not
apply with respect to any representation or warranty that is intended to
address the consequences of the execution, announcement or performance of this
Agreement or consummation of the Transactions); (h) the failure, in and of
itself, of the Company to meet any internal or public projections, forecasts or
estimates of performance, revenues or earnings (it being understood and agreed
that this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">clause&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:13.55pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(h)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">shall not preclude
Purchaser from asserting that any facts or occurrences giving rise to or
contributing to such failure that are not otherwise excluded from the
definition of Material Adverse Effect should be deemed to constitute, or be
taken into account in determining whether there has been a Material Adverse
Effect); (i) any actions (or the effects of any action) taken (or omitted to be
taken) upon the written request or instruction of, or with the written consent
of, Purchaser or one of its Affiliates; or (j) any action (or the effects of
any action) taken (or omitted to be taken) by the Seller, the Company or the
Bank as expressly required pursuant to this Agreement, except in the case of
each of clauses (a) through and including (f), to the extent that any such
event, circumstance, development, change, occurrence or effect has a
disproportionate adverse effect on the Company and its Subsidiaries, taken as a
whole, relative to the adverse effect such event, circumstance, development,
change, occurrence or effect has on other companies operating in the industries
in which the Company or any of its Subsidiaries materially engages; it being
agreed, for purposes of this Agreement, that the COVID-19 pandemic has not, as
of the date of this Agreement, had such a disproportionate adverse effect on
the Company and its Subsidiaries, taken as a</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">whole.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Material
Contract</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:23.75pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Multiemployer Plan</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means each &#8220;multiemployer plan&#8221; within
the meaning of Section 4001(a)(3) of ERISA.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:63.4pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Multiple Employer Plan</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section
3.13(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">New Plans</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section 5.10(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Non-Compete
Term</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; shall have the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Non-U.S.
Clients</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means (i) non-U.S. Persons and (ii) Affiliates of non-U.S.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Persons.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OCC</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
means the Office of the Comptroller of the Currency.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Other U.S.
Employee</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means each employee of Seller&#8217;s New York branch</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Grupo
Financiero BBVA Bancomer, S.A. de C.V.&#8217;s Houston agency who is employed as of
immediately prior to the Effective Time, or whose last day of employment with
Seller or any</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">10</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:0cm;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its Affiliates was with Seller&#8217;s New York branch or Grupo Financiero
BBVA Bancomer, S.A. de C.V.&#8217;s Houston agency.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:14.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Outside Date</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the date that is twelve (12) months
after the date hereof, as adjusted in accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 7.1(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:104.4pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Owned Premises</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section
3.8(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">PBGC</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section 3.13(e)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Permitted
Liens</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means, with respect to the Company and its Subsidiaries,</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.9pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a) mechanics&#8217;,
materialmen&#8217;s, warehousemen&#8217;s, carriers&#8217;, workers&#8217;, landlord&#8217;s or repairmen&#8217;s
liens or other similar common law or statutory Liens arising or incurred in the
ordinary course of business and, in each case, with respect to which adequate
reserves have been established in accordance with GAAP and set forth in the
Financial Statements included in the Company&#8217;s SEC Reports filed prior to the
date hereof; (b) liens for Taxes, assessments and other governmental charges
not yet due and payable or being contested in good faith by appropriate
proceedings, and, in each case, with respect to which adequate reserves have
been established in accordance with GAAP and set forth in the Financial
Statements included in the Company&#8217;s SEC Reports filed prior to the date
hereof; (c) licenses and other similar rights under Intellectual Property
granted in the ordinary course of business; (d) exceptions (including
easements, covenants, rights of way, restrictions or other similar charges),
gaps or other imperfections or defects or irregularities in the chain of title
or other Liens that are readily apparent from the records of the applicable
Governmental Authority registries and which were incurred in the ordinary course
of business that do not, in any case, materially detract from the value or the
use of the property subject thereto; (e) Liens against real estate that would
be shown by a current title policy, title report or other similar report or
listing or implied by law and which were incurred in the ordinary course of
business that do not, in any case, materially detract from the value or the use
of the property subject thereto; (f) pledges incurred or deposits made in
connection with workman&#8217;s compensation, unemployment insurance and other
similar types of social security programs or to secure the performance of
tenders, statutory obligations, surety and appeal bonds, bids, leases,
government contracts, performance and return of money bonds and obligations, in
each case in the ordinary course of business; (g) limitations on the transfer
of securities arising under Securities Laws that do not materially detract from
the value or the use of such securities; (h) Liens reflected on or specifically
reserved against or otherwise disclosed in the consolidated balance sheets
included in the Company SEC Reports filed prior to the date hereof; (i) any
Liens that will be terminated at or prior to Closing in accordance with this
Agreement; and (j) Liens that are not material to the Company and its
Subsidiaries, taken as a</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">whole.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Permits</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.9(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:49.05pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Person</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any individual, bank, savings association,
corporation, partnership, limited liability company, association, joint-stock
company, business trust or unincorporated organization.</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.05pt;margin-top:3.9pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Personal Information</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means all
information identifying, regarding or capable</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of being associated with an individual person or device. Personal
Information may relate to any individual, including a current, prospective or
former client (or a client&#8217;s customer or end user) or employee of any Person,
and includes information in any form, including paper, electronic and other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">forms.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Preferred
Stock</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.2(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:21.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Privacy Laws</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means all applicable Laws relating to privacy
and data security, including with respect to the receipt, collection,
compilation, use, storage, processing, sharing, safeguarding, security,
disposal, destruction, disclosure or transfer of Personal Information and any
and all applicable Laws governing breach notification in connection with
Personal Information.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.45pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Project Finance Clients</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means such Persons, counterparties
or sponsors Affiliated with Large Corporate Entities or Institutional Entities
to which Seller or any of its Affiliates (including Seller&#8217;s New York Branch)
have extended long-term financing or guarantees in respect of the ownership,
acquisition, development, operation and / or maintenance of any asset or
facility (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Project</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;); </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that, for purposes of this
definition, any such Person, counterparty or sponsor maintain an ownership
interest in the Project of at least twenty- five percent (25%).</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:105.1pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Purchase</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in the Recitals. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Purchase
Price</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.5pt;line-height:186%;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">2.2(c)(i)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Purchaser</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in
the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;line-height:186%;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Preamble.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">Purchaser Indemnified Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">Section
8.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.75pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser Indemnified Taxes</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any Taxes imposed on the
Company or its Subsidiaries (other than Taxes imposed in respect of the
Carve-Out Entities) for any Purchaser Tax Period, other than any Excluded
Taxes.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.55pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser Material Adverse Effect</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any change, effect,
event or occurrence that, individually or in the aggregate, (i) has been or
would reasonably be expected to be materially adverse to the business,
financial condition, or the results of operations of the Purchaser and its
Subsidiaries, taken as a whole, or (ii) prevents or materially impairs the
consummation of the Transactions; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that none of the following
(or the results thereof), either alone or in combination, shall constitute or
contribute to a Purchaser Material Adverse Effect under clause (i): (a) any
change in GAAP or regulatory accounting requirements, or any adoption,
proposal, implementation or change in Law (including any Law in respect of
Taxes, and Laws newly enacted for, relating to or arising out of efforts to
implement Contagion Event Measures and address the spread of any Contagion
Event) or any interpretation thereof by any Government Authority; (b) changes,
events, conditions or trends in economic, business, credit or</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.15pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">financial conditions generally affecting the banking and financial
sector specifically, and changes in the capital or credit markets, including
any downgrades in the credit markets, or adverse credit events resulting in
deterioration in the credit markets generally (including any such change
resulting from or arising out of a Contagion Event); (c) any change in global
or national political conditions (including as result of the outbreak of war,
acts of terrorism or a Contagion Event);</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:17.85pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d) changes as
the result of other international, national, or regional calamity or global
health conditions, including any Contagion Event (and the related Contagion
Event Measures), any Government Shutdown, any declaration of martial law or
similar directive, guidance, policy or guidance or other action by any
Governmental Authority; (e) any change generally affecting</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">U.S. financial
services industry and not specifically relating to the Purchaser or its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.95pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(f) any change
resulting from or arising out of hurricanes, earthquakes, floods, or other
natural disasters; (g) the execution, announcement or performance of this
Agreement or consummation of the Transactions (it being understood and agreed
that this clause (g) shall not apply with respect to any representation or
warranty that is intended to address the consequences of the execution,
announcement or performance of this Agreement or consummation of the
Transactions); (h) the failure, in and of itself, of the Purchaser to meet any
internal or public projections, forecasts or estimates of performance, revenues
or earnings (it being understood and agreed that this clause (h) shall not
preclude Seller from asserting that any facts or occurrences giving rise to or
contributing to such failure that are not otherwise excluded from the
definition of Material Adverse Effect should be deemed to constitute, or be
taken into account in determining whether there has been a Material Adverse
Effect); (i) any actions (or the effects of any action) taken (or omitted to be
taken) upon the written request or instruction of, or with the written consent
of, Seller or one of its Affiliates; or (j) any action (or the effects of any
action) taken (or omitted to be taken) by the Purchaser or any of its
Subsidiaries as expressly required pursuant to this Agreement, except in the
case of each of clauses (a) through and including (f), to the extent that any
such event, circumstance, development, change, occurrence or effect has a
disproportionate adverse effect on the Purchaser and its Subsidiaries, taken as
a whole, relative to the adverse effect such event, circumstance, development,
change, occurrence or effect has on other companies operating in the industries
in which the Purchaser or any of its Subsidiaries materially engages; it being
agreed, for purposes of this Agreement, that the COVID-19 pandemic has not, as
of the date of this Agreement, had such a disproportionate adverse effect on
the Purchaser and its Subsidiaries, taken as a</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">whole.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser SEC Reports</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the forms, statements,
certifications, reports and documents publicly filed with or furnished to the
SEC by the Purchaser, pursuant to the Exchange Act or the Securities Act,
including any amendments thereto and those that may be filed or furnished
subsequent to the date of this Agreement (excluding, in each case, any
disclosures set forth in any risk factor section or in any other section to the
extent they are forward-looking statements or cautionary, predictive or
forward-looking in nature).</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:14.8pt;margin-top:0cm;text-align:justify;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser Tax Period</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any taxable period
beginning after the date hereof and, with respect to a Straddle Period, the
portion of such taxable period beginning after the date hereof.</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.95pt;margin-top:3.9pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser Tax Period Carve-Out
Entity Taxes</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the sum of the hypothetical liabilities for Taxes of
each of the Carve-Out Entities for each Purchaser Tax Period (or portion
thereof) ending on or prior to the date of the Carve-Out Transaction of such
Carve- Out Entity, calculated by (i) treating the Carve-Out Entities as the
sole members of a hypothetical consolidated federal income Tax Return group,
and (ii) determining the portion of such hypothetical liability for Taxes that
relates to a Purchaser Tax Period that is less than a full calendar year in
accordance with the principles in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(a)(iii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and by treating a
taxable period of any Carve-Out Entity that straddles the date hereof or the
date of the Carve-Out Transaction of such Carve-Out Entity as beginning on the
day after the date hereof or ending on the date of such Carve-Out Transaction,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">respectively.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:60.1pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Purchaser Tax Return</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Section
5.9(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Purchaser&#8217;s Fundamental Warranties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; means those
representations and</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:32.0pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">warranties set forth in in Section 4.1 (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Organization,
Standing and Authority</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">), </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Corporate Authorization and
Binding Effect</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">), </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Regulatory Filings; No Defaults</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">)
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No Brokers</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">), </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.6</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Availability of
Funds</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">) and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Investment</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PV Transfer</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the Transfer by the Company to the Seller
or one of its Affiliates (as may be designated by Seller), of all the issued
and outstanding equity interests of Propel Venture Partners US Fund I, L.P., a
Delaware limited partnership and venture capital fund (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), which
Transfer, for the avoidance of doubt, shall be effectuated through a
distribution of such PV interests from the Company to the Seller or its
designee, which distribution shall be recorded at fair market value and as a
reduction to the Company&#8217;s capital.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Quarterly
Unaudited Financial Statements</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;"><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">5.21</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Registered</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
means issued by, registered with, renewed by or the subject of a</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">pending
application before any Governmental Authority or internet domain name
registrar.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:10.75pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Related Party Contracts</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Section
3.7(a)(xiii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Release</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; means any release, spill, emission, leaking,
pumping, injection, deposit,</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:36.1pt;margin-top:.25pt;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">disposal, discharge, dispersal or leaching of any
Hazardous Substance into the environment. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Reports</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set
forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section 3.9(a)(iv)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:21.75pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Representatives</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means, with respect to any Person, such
Person&#8217;s, or such Person&#8217;s Subsidiaries&#8217;, directors, officers, employees,
accountants, investment bankers, agents, attorneys and other advisors or
representatives (including the employees or attorneys thereof).</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:31.4pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Requisite Regulatory Approvals</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section 5.3(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Restricted Territory</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; means the U.S.</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">14</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.8pt;margin-top:3.9pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Retail Banking Business</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means
any business that is an FDIC-insured retail branch banking business offering
any of the retail banking products and services of the sort currently offered
by the Company and its Subsidiaries, including for purposes of this definition
any retail brokerage products and services currently offered to customers of
the Company and its Subsidiaries.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:4.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Reverse
Transitional Services Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;"><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">5.20</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Rights</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
means, with respect to any Person, securities or obligations convertible</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:17.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">into or
exercisable or exchangeable for, or giving any Person any right to subscribe
for or acquire, or any warrants, options, restricted shares, performance
shares, restricted share units, performance share units, phantom equity, calls
or commitments relating to, or any stock or equity appreciation right or other
equity or equity-based awards or other instrument the value of which is
determined in whole or in part by reference to the market price, book or other
value of, shares of capital stock, units or other equity interests of such
Person or any of such Person&#8217;s Subsidiaries.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.05pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Sanctions</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; shall mean economic or financial sanctions or
trade embargoes imposed, administered or enforced from time to time by U.S.
Governmental Authorities (including, but not limited to, the U.S. Office of
Foreign Assets Control, the U.S. Department of State and the U.S. Department of
Commerce), the United Nations Security Council, the E.U. or other applicable
Governmental Authority.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:134.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">SEC</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; means the Securities and Exchange Commission. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Securities
Act</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; means the Securities Act of 1933.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.8pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Securities Laws</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the Securities Act, the Exchange Act
and any applicable securities Laws of any state.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
has the meaning set forth in the Preamble.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller
Indemnified Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.5pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller Benefit Plan</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means each Benefit Plan that is
maintained, sponsored or entered into solely by Seller or is maintained
primarily or exclusively for the benefit of employees, officers, directors or
independent contractors of the Seller or its Affiliates (other than the Company
and any of its Subsidiaries).</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller
Marks</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.11(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.25pt;margin-top:0cm;text-align:justify;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller Tax Period</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any taxable period
ending on or before the date hereof and, with respect to a Straddle Period, the
portion of such taxable period ending on and including the date hereof.</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">15</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_20"></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 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.35pt;margin-top:3.9pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&#8217;s
Fundamental Warranties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means, with respect to the representations and
warranties set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">0&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Organization, Standing and Authority</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">),
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Capital Structure</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">), </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The
Company&#8217;s Subsidiaries</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">), </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Corporate Authorization and
Binding Effect</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">) and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.12</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No Brokers</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:78.05pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Seller Tax Return</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Section
5.9(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Shares</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">&#8221; has the meaning set forth in the Recitals.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Stock Sale</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.45pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Straddle Period</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means a taxable period that begins on or before
the date hereof and ends after the date hereof.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:25.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiary</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means with respect to any Person, any
corporation, company (including any limited liability company), association,
partnership, joint venture or other business entity of which a majority of the
total voting power of the voting stock is at the time owned or controlled,
directly or indirectly; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that references herein to the
&#8220;Company,&#8221; &#8220;Company or any of its Subsidiaries,&#8221; &#8220;Subsidiaries of the Company&#8221;
or any such similar reference shall not include the Carve-Out Entities.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiary
Shares</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.3(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.75pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Tax</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; and &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Taxes</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; mean all federal, state, local and
foreign taxes, however denominated (including income, gross receipts, windfall
profits, severance, property, unclaimed property, production, sales, use,
license, excise, franchise, employment and withholding taxes), together with
any interest, penalties and additions imposed by any Taxing Authority with
respect to taxes.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:21.75pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Taxing Authority</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any Governmental Authority having or
purporting to exercise jurisdiction with respect to any Tax.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:32.4pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Tax Proceeding</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means any inquiry, claim, audit, action,
suit, proceeding, examination, contest, litigation or investigation by any
Governmental Authority in respect of Taxes.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:22.1pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Tax Returns</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means all federal, state, local and foreign
returns, declarations, claims for refund and information reports, statements,
schedules or attachments thereto filed or required to be filed with respect to
any Tax, and any amendment thereof.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Third Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.15pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Third Party Consents</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; shall mean all material consents,
approvals, waivers, registrations, permits, authorizations, notices or filings
required to be obtained by Seller or its Affiliates, or to be given by Seller
or its Affiliates to, or made by Seller or its Affiliates with, any third party
other than a Governmental Authority, in connection with the execution, delivery
and</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">16</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_21"></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 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.8pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">performance by Seller of the Transaction Documents and the
consummation of the Transactions, including to permit the continuation of any
Material Contracts with the Company or its Subsidiaries following the Closing.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transaction Documents</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means this Agreement, the
Transitional Services Agreement, Reverse Transitional Services Agreement, and
the Transitional Trademark License.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:24.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the transactions contemplated by and
provided for in this Agreement and the other Transaction Documents (including
the Carve-Out Transactions).</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transfer</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
has the meaning set forth in the Recitals.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:14.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transfer Taxes</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means all U.S. federal, state and local
sales, use, value added, transfer (including real property transfer), stamp,
documentary, filing, recordation and other similar taxes and fees that may be
imposed or assessed on the Transfer and Purchase of the Shares pursuant to this
Agreement, together with any interest, additions or penalties with respect
thereto and any interest in respect of such additions or penalties. For the
avoidance of doubt, Transfer Taxes shall not include any Taxes (i) measured, in
whole or in part, by reference to income or gain, or (ii) imposed by any
jurisdiction in which Seller is organized or resident for Tax purposes.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:4.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transitional
Services Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; has the meaning set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.20</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:12.1pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Transitional Trademark License</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; has the meaning set forth in
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Section 5.20</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">. &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Treasury Regulations</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">&#8221; means the regulations
promulgated under the Code by the</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:0cm;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">U.S. Department
of Treasury.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">U.S.</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
means the United States of America.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.75pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WARN</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means the Worker Adjustment and Retraining
Notification Act and any comparable foreign, state or local law.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.2&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Interpretation
and</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Construction</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Unless the context
otherwise requires, references herein</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to:&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:30.3pt;margin-top:.05pt;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">specific Articles,
Sections, Exhibits or Schedules refer, respectively, to Articles, Sections,
Exhibits or Schedules of this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:29.15pt;margin-top:0cm;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any statute or
regulation refer to such statute or regulation as amended, modified,
supplemented or replaced from time to time (and, in the case of statutes,
include any rules and regulations promulgated under the statute) and references
to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any Section of any statute or
regulation include any successor to such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section;&nbsp;</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">17</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_22"></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 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:6.0pt;margin-left:47.0pt;margin-right:13.9pt;margin-top:3.9pt;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any Contract (including
this Agreement) or Constituent Document refer to the Contract or Constituent
Document as amended, modified, supplemented or replaced from time to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">time;&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:47.0pt;margin-right:30.7pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;ordinary course of
business&#8221;, with respect to any party, shall take</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">into account the commercially reasonable actions taken by such
party and its Affiliates, in response to the Contagion Event and Contagion
Event Measures, and such references shall be deemed to be followed by the words
&#8220;consistent with past</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">practice&#8221;;&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:47.0pt;margin-right:15.7pt;margin-top:0cm;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(v)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any Governmental
Authority include any successor to such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Governmental
Authority;</font></p>

<p style="margin-bottom:6.0pt;margin-left:47.0pt;margin-right:17.3pt;margin-top:0cm;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vi)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any agreement or other
document refer to such agreement or document as amended, modified, supplemented
or replaced from time to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">time;&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:47.0pt;margin-right:22.35pt;margin-top:0cm;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vii)</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 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the words &#8220;hereof,&#8221;
&#8220;herein,&#8221; and &#8220;hereunder&#8221; and words of similar import, when used in this
Agreement, refer to this Agreement as a whole and not to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any particular provision of this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement;&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(viii)</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="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the terms &#8220;Dollars&#8221; and
&#8220;$&#8221; mean the lawful currency of the U.S.;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:47.0pt;margin-right:36.2pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ix)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the words &#8220;include,&#8221;
&#8220;includes,&#8221; or &#8220;including&#8221; shall be deemed to be followed by the words &#8220;without</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">limitation&#8221;.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:30.5pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The table of contents
and headings contained in this Agreement are for reference purposes only and do
not limit or otherwise affect any of the provisions of this Agreement.</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:21.5pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The parties to this
Agreement have participated jointly in the negotiation and drafting of this
Agreement. In the event of an ambiguity or a question of intent or
interpretation, this Agreement shall be construed as if drafted jointly by the
parties, and no presumption or burden of proof shall arise favoring or disfavoring
any party by virtue of the authorship of any provision of this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:32.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No representation,
warranty, covenant or other agreement or provision contained in this Agreement
shall be deemed to contemplate or require the disclosure of &#8220;confidential supervisory
information,&#8221; as such term is defined in the regulations of any applicable
Governmental</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Authority.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:4.5pt;text-align:center;text-indent:24.95pt;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE II</font></b></p>

<p style="margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:4.5pt;text-align:center;text-indent:24.95pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE TRANSACTION</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:37.55pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.1&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchase</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. On the terms and subject to the conditions set </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">forth </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">herein, at the Closing, (a) Seller
shall Transfer, or cause to be Transferred, to Purchaser and Purchaser shall
Purchase from Seller, free and clear of any Liens (other than restrictions on
transfer which arise under applicable Securities Laws), the Shares (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Stock
Sale</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:31.7pt;margin-top:3.9pt;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser shall pay to
Seller (or any Affiliate of Seller designated by Seller in writing)</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">an amount equal to the Purchase</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Price.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:83.0pt;margin-right:0cm;margin-top:0cm;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.2&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Closing; Closing</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Deliverables</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:10.95pt;margin-right:12.6pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The closing of the
Purchase and Transfer of the Shares (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Closing</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) shall occur at the
offices of Sullivan &amp; Cromwell LLP, 125 Broad Street, New York, New York
10004 at 10:00 a.m., New York City time, or remotely via electronic exchange of
documents and signatures on (i) the fifth (5<sup>th</sup>) Business Day
following the date on which each of the conditions set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Article VI</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
(other than those conditions that by their nature are to be satisfied at the
Closing but subject to the fulfillment or waiver of those conditions) have been
satisfied or waived in accordance with this Agreement, or (ii) at such other
time and place as the parties hereto may mutually agree. The Closing shall be
deemed effective as of the Effective</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Time.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:10.95pt;margin-right:12.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">At least two (2)
Business Days prior to the Closing, the Seller shall deliver to Purchaser a
statement setting forth its estimates of (i) the amount of Company Transaction
Expenses due at Closing and related wire instructions information to effectuate
payment thereof on the Closing Date; (ii) good faith estimates of the amounts
referenced in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.2(c)(i)(A)(2)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and (3) and (iii) the account and
wire information required by </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.2(c)(i)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Closing&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Statement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;).&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">At the Closing,
Purchaser shall deliver to Seller the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">following:&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:47.0pt;margin-right:11.15pt;margin-top:0cm;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">An amount in cash equal
to (A) (1) $11,566,740,000, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">minus&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (2) the aggregate Carve-Out Tax Costs
(if any), </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">plus&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (3) the aggregate Carve-Out Tax Benefit (if any), </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">minus&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
(4) the Company Transaction Expenses as set forth in the Closing Statement,</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
plus</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (B) interest at a rate of three percent (3.0%) per annum on the amount
set forth in the preceding clause (A)(1) for the period following June 30,
2021, through but excluding the Closing Date, by wire transfer of immediately
available funds, to one or more accounts which have been designated by Seller
in the Closing Statement (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchase&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.35pt;">
</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Price</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;);&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:46.95pt;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Duly executed
counterparts of the Transitional Services</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement,
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">Reverse Transitional Services Agreement and
Transitional Trademark License; and</font></p>

<p style="margin-bottom:6.0pt;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The certificate to be
delivered pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.3(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">;&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:47.0pt;margin-right:19.2pt;margin-top:0cm;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">All such other
documents, contracts, certificates, instruments and records as may be
reasonably necessary to consummate or effectuate the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">At the Closing, Seller
shall deliver, or cause to be delivered, to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">the following:</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subject to the receipt
by Seller or its designated Affiliates of the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Closing&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:47.0pt;margin-right:24.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchase Price
in accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.2(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, a receipt confirming that Seller or
its designated Affiliate(s) has received payment of the Purchase Price;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:12.65pt;margin-top:3.9pt;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Certificates or, if
uncertificated, other evidence of ownership, representing the Shares,
registered in the name of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:14.05pt;margin-top:0cm;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">A certificate of an
authorized officer of Seller certifying the completion of the Carve-Out</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:15.05pt;margin-top:0cm;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">A certificate from the
Company that complies with Section 1445 of the Code and Sections 1.1445-2(c)(3)
and 1.897-2(h) of the Treasury Regulations promulgated thereunder, dated as of
the Closing Date and executed by a responsible corporate officer of the Company,
certifying that the Shares are not a &#8220;United States real property interest&#8221;
(within the meaning of Section 897(c)(1) of the Code); </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that
Purchaser&#8217;s sole right or remedy if the Company fails to provide such
certificate shall be to make an appropriate withholding under the Code or
indemnification claim pursuant to</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> Section</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">
</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">5.9</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:44.35pt;margin-top:0cm;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(v)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Duly executed
counterparts of the Transitional Services Agreement, Reverse Transitional
Services Agreement and Transitional Trademark</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">License;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vi)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The certificate to be
delivered pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.2(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">;&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:19.2pt;margin-top:0cm;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vii)</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 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">All such other
documents, contracts, certificates, instruments and records as may be
reasonably necessary to consummate or effectuate the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:22.6pt;margin-top:0cm;text-indent:108.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.3&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Tax
Treatment</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Purchaser and Seller acknowledge and
agree that the Stock Sale shall be treated for U.S. federal income tax purposes
as a taxable purchase and sale of the Shares, and neither Purchaser nor Seller
shall take any position on any Tax Return, or take any other reporting
position, inconsistent with such treatment, unless otherwise required by any
change in applicable Law or in the interpretation or application thereof.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.75pt;margin-top:4.5pt;text-indent:108.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.4&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Withholding</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Purchaser shall be entitled to deduct and withhold from any
amounts otherwise payable pursuant to this Agreement, such amounts as it is
required to deduct or withhold with respect to the making of such payment under
the Code or any provision of any U.S. federal, state, local or foreign Tax Law.
If Purchaser determines that it is required to deduct or withhold any amount
from any payment to be made pursuant to this Agreement, Purchaser shall provide
notice to Seller of Purchaser&#8217;s intent to deduct or withhold such amount and
the basis for such deduction or withholding at least thirty (30) days before any
such deduction or withholding is made to the extent reasonably practicable, or
shall otherwise provide such notice as promptly as reasonably practicable, and
Purchaser shall reasonably cooperate with Seller in order to eliminate or to
reduce any such deduction or withholding, including providing a reasonable
opportunity for Seller to provide forms or other evidence that would mitigate,
reduce or eliminate such deduction or withholding. To the extent that amounts
are so deducted and withheld, such deducted and withheld amounts shall be
treated for all purposes of this Agreement as having been paid to the Person in
respect of which such deduction and withholding was</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">made.&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE III</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">REPRESENTATIONS AND
WARRANTIES OF SELLER</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.4pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as set forth in the (i) Company SEC Reports filed after
December 31, 2017 and prior to the date hereof or (ii) corresponding sections
or subsections of the disclosure schedules delivered to Purchaser by the Seller
prior to entering into this Agreement (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&#8217;s&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Disclosure
Schedule</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) (it being agreed that disclosure of any item in any section or
subsection of the Seller&#8217;s Disclosure Schedule shall be deemed disclosure with
respect to any other section or subsection to which the relevance of such item
is reasonably apparent on the face of the disclosure), the Seller hereby
represents and warrants to Purchaser, as of the date hereof (or as of such
other date as may be expressly provided in any representation or warranty) and
as of the Closing Date, as follows:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.1&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Organization,
Standing and</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Authority</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:14.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each of Seller, the
Company and the Company&#8217;s Subsidiaries is duly organized, validly existing and
in good standing under the Laws of its jurisdiction of organization. The Seller
has made an effective election to be treated as a financial holding company
under the BHC Act. The Company and the Company&#8217;s Subsidiaries have all
corporate (or similar) power and authority to own, lease and operate its
properties and to carry on its business as now conducted. The Company and the
Company&#8217;s Subsidiaries are each duly qualified to do business as a foreign
entity and is in good standing in each jurisdiction where the character of the
property owned or leased by it or the nature of its activities makes such qualification
necessary, except where failure to be so qualified would not, individually or
in the aggregate, reasonably be expected to have a Material Adverse</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effect.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.2pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Bank is a state
member bank duly organized, validly existing and in good standing, chartered
under the laws of Alabama. The Bank has all requisite power and authority to
own, lease and operate its properties and to carry on its business as now
conducted and is duly qualified to do business as a foreign entity in each
jurisdiction where the character of the property owned or leased by it or the
nature of its activities makes such qualification necessary, except where the
failure to be so qualified would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. The deposit accounts
of the Bank are insured by the Federal Deposit Insurance Corporation (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">FDIC</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
through the Deposit Insurance Fund to the fullest extent permitted by law, and
all premiums and assessments required to be paid in connection therewith have
been paid when due, and no proceedings for the termination of such insurance
are pending or threatened. The Bank has, and at all times during the past three
(3) years has had, a Community Reinvestment Act rating no lower than
&#8220;Satisfactory.&#8221;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:22.3pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">True, complete and
correct copies of the Constituent Documents of the Company, the Bank, and the
other Subsidiaries of the Company, each as in effect as of the date of this
Agreement, have been delivered to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.2&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Capital&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Structure</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.6pt;margin-top:3.9pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The authorized capital
stock of the Company consists of (i) 300,000,000 shares of common stock, par
value $0.01 per share (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Common Stock</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), of which 222,963,891 shares
are issued and outstanding and none are held in treasury as of the date of this
Agreement and (ii) 30,000,000 shares of Series A preferred stock, par value
$0.01 per share with a liquidation preference of $200,000 per share (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Preferred
Stock</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;, and together with the Common Stock, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Capital Stock</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), of
which 1,150 shares are issued and outstanding and none are held in treasury as
of the date of this Agreement. All the issued and outstanding shares of Capital
Stock have been duly authorized and are validly issued, fully paid and
non-assessable. There are no outstanding or authorized Rights that would
require the Company to issue, sell or otherwise cause to become outstanding any
of its Capital Stock, or to make a cash payment based on the value of any of
its Capital Stock. The Company does not have any commitment to authorize, issue
or sell any shares of Capital Stock or other equity interests, and there are no
shares of Capital Stock authorized or reserved for issuance. None of the
Company&#8217;s issued and outstanding shares of Capital Stock have been issued in
violation of any preemptive rights. No bonds, debentures, notes or other
indebtedness having the right to vote on any matters on which the holders of
Capital Stock may vote have been issued by the Company and are</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">outstanding.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.95pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller has good and
marketable title to all the Shares, free and clear of any and all Liens (other
than restrictions on transfer which arise under applicable Securities Laws).
Seller is not a party to any shareholders&#8217; agreement, voting trust, proxy or
other agreement or understanding with respect to the voting of any capital
stock of the Company. At the Closing, no restrictions applicable to the payment
of dividends or other distributions by the Bank or the Company shall exist,
except pursuant to corporate or banking laws of and regulations of general
applicability.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;margin-right:0cm;margin-top:4.5pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.3&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Company&#8217;s</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:10.9pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.3(a) of the
Seller&#8217;s Disclosure Schedule lists all the Subsidiaries of the Company, which
includes the Bank, and such Subsidiaries&#8217; jurisdiction of organization and
classification for U.S. federal income Tax purposes. Each Subsidiary of the
Company has been duly organized and is validly existing in good standing under
the laws of the jurisdiction of its organization, and has all requisite power
and authority to own, lease and operate its properties and to carry on its
business as now conducted. Each Subsidiary of the Company is duly qualified to
do business as a foreign entity in each jurisdiction where the character of the
property owned or leased by it or the nature of its activities makes such
qualification necessary, except where failure to be so qualified, individually
or in the aggregate, would not reasonably be expected to be have a Material
Adverse</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effect.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:17.55pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.3(b) of the
Seller&#8217;s Disclosure Schedule contains a list of the type and number of
authorized and outstanding equity interests of each of the Company&#8217;s
Subsidiaries (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiary Shares</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;). The Company owns beneficially
and of record all Subsidiary Shares and has good and marketable title to the
Subsidiary Shares, free and clear of any and all Liens (other than restrictions
on transfer which arise under applicable Securities Laws). Except as set forth
in Section 3.3(b) of the Seller&#8217;s Disclosure Schedule, there are no outstanding
or authorized Rights that would require any of the Company&#8217;s Subsidiaries to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">issue,&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.45pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">sell or otherwise cause to become outstanding any of its equity
interests, or to make a cash payment based on the value of any of its equity
interests. Except as set forth in Section 3.3(b) of the Seller&#8217;s Disclosure
Schedule, none of the Company&#8217;s Subsidiaries has any commitment to authorize,
issue or sell any equity interests, and there are no shares of capital stock of
the Company&#8217;s Subsidiaries authorized or reserved for issuance. None of the
Company&#8217;s Subsidiaries&#8217; issued and outstanding equity interests has been issued
in violation of any preemptive rights. No bonds, debentures, notes or other
indebtedness having the right to vote on any matters on which the holders of
equity interests may vote have been issued by any of the Company&#8217;s Subsidiaries
and are outstanding. Other than its ownership interests in the Subsidiaries,
the Company does not directly or indirectly &#8220;own&#8221; or &#8220;control&#8221; (such terms as
used within the meaning of the BHC Act and its implementing regulations) any
equity securities of any other Person.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.25pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.4&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Corporate
Authorization and Binding Effect</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The execution,
delivery and performance by Seller (or any of its Affiliates that may be a
party to any Transaction Document) of the Transaction Documents and the
Transactions have been duly and validly authorized by all necessary corporate
action of Seller (and, if applicable, any such Affiliate) prior to the date of
this Agreement. This Agreement is a valid and legally binding obligation of
Seller, and the other Transaction Documents to which Seller, the Company, the
Bank or any other of the Company&#8217;s Subsidiaries is or will be a party, have
been, or at Closing will be, duly executed and delivered by each such party and
assuming due authorization, execution, and delivery of the Transaction
Documents by the Purchaser and any of its Affiliates who are parties thereto,
constitute, or at Closing will constitute, legal, valid and binding agreements
of Seller, the Company, the Bank and the Company&#8217;s Subsidiaries, as applicable,
enforceable against such party in accordance with their respective terms
(except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent transfer and similar Laws of general
applicability relating to or affecting creditors&#8217; rights or by general equity
principles (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Bankruptcy and Equity</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Exception</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.5&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Regulatory
Filings; No</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Defaults</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.55pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No consents or
approvals of, or filings or registrations with, any Governmental Authority or
other third party are required to be made or obtained by Seller, the Company,
the Bank or any other of the Company&#8217;s Subsidiaries in connection with the
execution, delivery or performance by Seller, the Company, the Bank or any
other of the Company&#8217;s Subsidiaries of the Transaction Documents to which they
are a party, or to effect the Transactions, except for (i) the filing of the
applications, filings or notices to or with the Governmental Authorities listed
in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Annex A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, as applicable to the Seller, the Company or the Bank, and
approval of or non-objection to such applications, filings and notices; (ii)
the Third Party Consents listed in Section 3.5(a) of the Seller&#8217;s Disclosure
Schedule, (iii) applications, filings or notices pursuant to the securities or
blue sky laws of the various states with respect to the Stock Sale; and (iv)
such other non-Governmental Authority third party consents, approvals, filings
or registrations the failure of which to be obtained would not, individually or
in the aggregate, reasonably be expected to have a Material Adverse</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effect.&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.55pt;margin-top:3.9pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subject to the receipt
of the approvals and consents referred to in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Annex A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, the Third Party
Consents listed in Section 3.5(a) of the Seller&#8217;s Disclosure Schedule, and the
expiration or early termination of applicable waiting periods, the execution,
delivery and performance by each of Seller, the Company, the Bank and any other
of the Company&#8217;s Subsidiaries of the Transaction Documents to which it is a
party and the consummation by it of the Transactions do not (i) conflict with,
contravene, constitute a violation or breach of or default under or give rise
to (or give rise after the giving of notice, the passage of time or both) a
right of termination, cancellation, payment of any penalty or other amount, or
acceleration of any obligation of such party or to a loss of any benefits to
which such party is entitled under any provision of (A) Seller&#8217;s, the
Company&#8217;s, the Bank&#8217;s or any other of the Company&#8217;s Subsidiaries&#8217; Constituent
Documents; (B) assuming compliance with the requirements referred to in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
3.5(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, any applicable Law binding upon Seller, the Company, the Bank or
any other of the Company&#8217;s Subsidiaries, other than violations that would not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect, or (C) assuming compliance with the requirements referred to in
Section 3.5(a), any Material Contract to which Seller, the Company, the Bank or
any other of the Company&#8217;s Subsidiaries is a party or any license, franchise,
permit or similar authorization held by Seller, the Company, the Bank or any
other of the Company&#8217;s Subsidiaries, in each case other than violations,
breaches, defaults, rights or loss which would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect; or (ii)
result in the creation or imposition of any Lien on any material assets of the
Bank, the Company or any of its other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:51.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.6&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company
SEC Reports; Financial Statements; No Material</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Adverse&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effect</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.9pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Company has filed
or furnished, as applicable, on a timely basis, all Company SEC Reports
required to be filed or furnished by it with the SEC pursuant to the Exchange
Act or the Securities Act since December 31, 2018 (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Applicable Date</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;).
Each of the Company SEC Reports, at the time of its filing or being furnished
complied or, if not yet filed or furnished, will comply in all material
respects with the applicable requirements of the Securities Act and the
Exchange Act, and any rules and regulations promulgated thereunder applicable
to the Company SEC Reports. As of their respective dates (or, if amended prior
to the date of this Agreement, as of the date of such amendment), the Company
SEC Reports did not, and any Company SEC Reports filed with or furnished to the
SEC subsequent to the date of this Agreement will not, contain any untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements made therein, in light of
the circumstances in which they were made, not</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">misleading.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:17.4pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller has previously
made available to Purchaser complete and correct copies of the Company&#8217;s
audited consolidated financial statements (including any related notes and
schedules thereto and the signed, unqualified opinion of its independent
auditor) for the fiscal years ended December 31, 2018 and December 31, 2019,
and complete and correct copies of the Company unaudited consolidated financial
statements for the nine month period ended September 30, 2020 (collectively,
the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Financial Statements</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;). The Financial</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Statements&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:19.1pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i) have been derived from the books and records of the Company and
its Subsidiaries, (ii) have been prepared in conformity with GAAP applied on a
consistent basis (except as may be indicated in the notes thereto) and (iii)
fairly present in all material respects the consolidated financial position of
the Company, as of the dates thereof and their respective results of operations
and cash flows for the periods then ended (except that the unaudited statements
may not contain footnotes and are subject to normal year-end audit
adjustments).</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:14.0pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except (i) as reflected
or reserved against in the Financial Statements (or disclosed in the notes
thereto, if applicable), (ii) for Permitted Liens, (iii) for liabilities
incurred in the ordinary course of business since the Applicable Date, there
are no liabilities of the Company of character required under GAAP to be
reflected or reserved against on a balance sheet or disclosed in the notes to
an audited consolidated balance sheet of the Company prepared in accordance
with GAAP except for liabilities as would not, individually or in the
aggregate, reasonably be expected to be material to the Company and its
Subsidiaries, taken as a</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">whole.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:15.0pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Company and its
Subsidiaries have established and maintained since January 1, 2017, and
continue to maintain, a system of internal controls over financial reporting
(as defined in Rule 13a-15 under the Exchange Act). Such internal controls are
designed to provide reasonable assurance regarding the reliability of the
Company&#8217;s financial reporting and the preparation of the Company&#8217;s consolidated
financial statements for external purposes in accordance with GAAP. The Company
has disclosed, based on its most recent evaluation of its internal accounting
controls by its chief executive officer and chief financial officer prior to
the date hereof, to the Company&#8217;s auditors and audit committee (i) all
significant deficiencies and material weaknesses in the design or operation of
internal controls which would adversely affect the Company&#8217;s ability to record,
process, summarize and report financial information for inclusion in the
applicable combined financial statements and (ii) any fraud, whether or not
material, that involves management or other employees who have a significant
role in the Company&#8217;s internal controls over financial reporting. Since January
1, 2017, to the Knowledge of the Seller, no material complaints from any source
regarding accounting, internal accounting controls or auditing matters have
been received by the Company and no written complaints from Company employees regarding
questionable accounting or auditing matters have been received by the Company.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:22.2pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The allowances for loan
losses and for credit losses contained in the Financial Statements and the
allowance for loan losses and for credit losses shown on any interim balance
sheet since the date of such Financial Statements, as the case may be, were and
will be established in accordance with the practices and experiences of the
Company and its Subsidiaries, and were and will be adequate under and in
accordance with the requirements of GAAP, and the applicable Governmental
Authorities to provide for possible losses on loans (including accrued interest
receivable) and credit commitments (including stand-by letters of credit)
outstanding as of the date of such balance sheet. The Company adopted and fully
implemented CECL effective as of January 1, 2020, other than for regulatory
capital</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">purposes.&nbsp;</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.6pt;margin-top:3.9pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(f)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Since June 30, 2020, no
event, occurrence or development has occurred or circumstance arisen that,
individually or in the aggregate, would reasonably be expected to have a
Material Adverse Effect.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:21.45pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(g)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Since September 30,
2020, through the date hereof, the business of the Company and its Subsidiaries
was conducted, in all material respects, in the ordinary course of business
consistent with past practice and none of the Company or any of its Subsidiaries
has taken any action that, if taken on or after the date hereof, would require
the consent of the Purchaser pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.2(b)(iii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xvi)(C)&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xix)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(to the extent
relating to the preceding clauses of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">5.2(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.7&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Material&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Contracts</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:14.0pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except (i) for
Contracts filed as exhibits to the Company SEC Reports filed after December 31,
2017 and prior to the date hereof or (ii) as otherwise set forth in</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:19.8pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">3.7</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of the Seller&#8217;s
Disclosure Schedule, as of the date of this Agreement, none of the Company or
any of its Subsidiaries is a party to any of the following types of Contracts
(each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Material Contract</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;):&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:21.6pt;margin-top:4.5pt;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any lease of real
property that provides for annual payments of $500,000 or more or that is not
terminable without material penalty by the Company or its applicable Subsidiary
upon notice of 180 days or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">less;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:13.1pt;margin-top:.05pt;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any agreement for the
purchase of materials, supplies, goods, services, equipment or other assets
(other than those specified elsewhere in this definition) that provides for
either (i) annual payments of $2,500,000 or more, or (ii) aggregate</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">payments of $5,000,000 or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">more;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any partnership, joint
venture or other similar agreement or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">arrangement;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:16.55pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any agreement relating
to the acquisition or disposition of any business or operations (whether by
merger, sale of stock, sale of assets, outsourcing or otherwise), other than
sales of portfolios of non-performing loans and mortgages in the secondary
markets in the ordinary course of business consistent with past</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">practice;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:24.75pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(v)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any indenture,
mortgage, promissory note, loan agreement, guarantee or other agreement or
commitment for the borrowing of money or the deferred purchase price of
property in excess of $2,000,000 (in either case, whether incurred, assumed,
guaranteed or secured by any asset) or any agreement by which the Company or
any</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of its Subsidiaries lends money
or provides guarantees (other than in the Bank&#8217;s ordinary course of business);</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vi)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any agreement that
creates future payment obligations in excess</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:47.0pt;margin-right:2.0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">$25,000,000 in
the aggregate and which by its terms does not terminate or is not terminable
without penalty upon notice of 180 days or less;</font></p>









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</DIV>
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<DIV bclHeader>


<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:44.55pt;margin-top:3.9pt;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any outsourcing,
servicing or sub-servicing agreement which has an aggregate payment obligation
to any Person in excess of $10,000,000 per</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.05pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">annum;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:11.7pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(viii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any agreement providing
for the sale by the Company or any Subsidiary</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.95pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of goods or services (other than any Extension of Credit, provision of
credit services or other arrangements in the ordinary course of business)
providing for payments to the Company or such Subsidiary in excess of
$1,000,000 per</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">annum;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:18.8pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ix)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any agreement pursuant
to which the Company or any Subsidiary (x) grants or obtains any right to use
any material Intellectual Property, or (y) is materially restricted in the use,
enforcement or registration of any material Intellectual Property owned by the
Company or any of its Subsidiaries, excluding, for the purposes of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">clauses&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:15.6pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(x)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">through (y), (A) any non-exclusive end-user
click-wrap or shrink-wrap licenses to software or databases that are generally
commercially available and (B) any agreements entered into with employees,
independent contractors or customers entered into on Seller&#8217;s or any of its
Affiliates&#8217; standard forms made available to Purchaser or forms that are
substantially similar thereto in all material</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">respects;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:23.9pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(x)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any agreement (other
than a Benefit Plan) that provides for an increased payment or benefit, or
accelerated vesting, upon the execution of this Agreement or the Closing or in
connection with the Transactions in excess of $1,000,000</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">individually;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:28.55pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xi)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any license, franchise
or similar agreement material to the business and operations of the Company and
its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:12.6pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any exclusive dealing
agreement or any agreement that contains non- competition or non-solicitation
covenants that limit the freedom of the Company or its Affiliates (including,
after the Closing, the Purchaser and its Subsidiaries) to compete in any line
of business or with any Person or in any area or operate at any location, or
which purports to limit or restrict the ability of the Company or its
Affiliates (including, after the Closing, the Purchaser and its Subsidiaries)
to solicit clients or employees or any category of Persons, other than employee
non-solicit arrangements in the ordinary course of business in connection with
the entry into customary confidentiality</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">agreements;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:18.6pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xiii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any Contract by the
Company or such Subsidiary with Seller or any of its Affiliates (other than the
Company or any of its Subsidiaries) (such contracts, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Related Party
Contracts</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;);&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:26.95pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xiv)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any agreement that
grants any right of first refusal, right of first offer or similar right with
respect to any assets, rights or property of the Company or any of its
Subsidiaries.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:16.0pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each of the Material
Contracts (and those Contracts which would be Material Contracts but for the
exception of being filed as exhibits to the Company SEC</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Reports) is valid and binding on the Company or its
Subsidiaries, as the case may be and, to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">27</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_32"></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 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.4pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Knowledge of the Seller, each other party thereto, and is in full
force and effect, except for failures to be valid and binding or in full force
and effect as would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. There is no default under any such
Contracts by the Company or its Subsidiaries and no event has occurred that
with the lapse of time or the giving of notice or both would constitute a
default thereunder by the Company or its Subsidiaries, in each case except as
would not, individually or in the aggregate, reasonably be expected to be
material to the Company or its Subsidiaries, taken as a whole.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:48.55pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller has made
available to Purchaser a true, correct and complete copy of each Material
Contract.</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:22.1pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as set forth in
Section 5.12 of the Seller&#8217;s Disclosure Schedule</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or as provided under the Transitional Services Agreement or
Reverse Transitional Services Agreement, following the termination of all
Contracts and the settlement or payment of all outstanding Intercompany
Receivables and Intercompany Payables pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.12</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, there
will be no Contracts of the type that would be required to be set forth
pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.7(a)(xiii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> above (if outstanding on the date
hereof), and none of the Company or any of its Subsidiaries shall have any
liability or obligation to Seller or its Affiliates (other than the Company and
its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:83.05pt;margin-right:0cm;margin-top:6.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
3.8&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Property</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:3.0pt;margin-left:11.0pt;margin-right:13.3pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.8(a) of the
Seller&#8217;s Disclosure Schedule contains a complete and accurate list of all real
property owned, leased or licensed by the Company, the Bank or any of Company&#8217;s
other Subsidiaries, or otherwise occupied by any of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">them.&nbsp;</font></p>

<p style="margin-bottom:3.0pt;margin-left:10.95pt;margin-right:13.95pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except in any such case
as would not, individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect, the Company, the Bank and the Company&#8217;s other
Subsidiaries, as applicable, (i) have good and marketable fee title to all real
property owned by them (other than &#8220;other real estate owned&#8221;) free and clear of
all Liens, except Permitted Liens, and have a legal, valid and enforceable
leasehold interest in all real property leased or licensed by them, and (ii)
there are no outstanding options, rights of first offer or refusal or other
pre-emptive rights or purchase rights with respect to any such owned real
property.</font></p>

<p style="margin-bottom:3.0pt;margin-left:10.95pt;margin-right:13.65pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Other than (a)
properties for which the Company or any of its Subsidiaries is landlord or
sublessor or (b) properties the Company or any of its Subsidiaries owns as
satisfaction on a debt previously contracted, to the Knowledge of Seller, there
are no Persons in possession of any portion of any of the real property owned
or leased by the Company or any of its Subsidiaries other than the Bank or any
other Company Subsidiary, and no Person other than the Company, the Bank or other
Company Subsidiary has the right to use or occupy for any purpose any portion
of any of the real property owned or leased by the Company, the Bank or other
Company Subsidiary, except, in any such case, as would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effect.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.9&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Compliance
with</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Laws</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:29.9pt;margin-top:3.9pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as would not,
individually or in the aggregate, be reasonably be expected to be material to
the Company and its Subsidiaries, taken as a whole, each of the Company, the
Bank and each other Company</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiary:&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:11.95pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">has all permits,
licenses, authorizations, orders and approvals of, and has made all filings,
applications and registrations with, all Governmental Authorities that are
required in order to permit it to own or lease its properties and to conduct
its businesses as conducted as of the date of this Agreement (collectively, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Permits</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
and all such Permits are in full force and effect and are current and no
suspension or cancellation of any of them is, to the Knowledge of Seller,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">threatened;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:15.5pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">is and has been at all
times during the past three (3) years in compliance with all Laws applicable to
the conduct of its businesses and the ownership and use of its assets and no
event has occurred or circumstance exists that (with or without notice or lapse
of time) has resulted or would reasonably be expected to result in a violation
of or any claims under any AML Laws, Anticorruption Laws or Sanctions, the
False Claims Act (31 U.S.C. 3729 et seq.) or other applicable</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Laws;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:16.4pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">subject to restrictions
on disclosing confidential supervisory information, is not and has not been
during the preceding three (3) years a party to or otherwise subject to any
consent decree, memorandum of understanding, written commitment or other
supervisory agreement with, or ordered to pay any civil money penalty by, the
Federal Reserve or the FDIC or any other Governmental Authority, and nor has
the Company or any of its Subsidiaries been advised during the three (3) years
preceding</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the date hereof by any
such Governmental Authority that it is contemplating issuing or requesting any
of the foregoing, whether related to AML Laws, Anticorruption</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Laws,&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:47.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Sanctions or
otherwise; and</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:18.0pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">during the two (2)
years preceding the date hereof, has timely filed all reports, registrations
and statements, together with any amendments required to be made with respect
thereto, that were required to be filed under any applicable Law, with any
applicable Governmental Authority (collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Reports</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;). As of
their respective dates (and without giving effect to any amendments or
modifications filed after the date of this Agreement with respect to reports
and documents filed before the date of this Agreement), the Reports complied
with the applicable Laws and Government Orders enforced or promulgated by the
Governmental Authority with which they were</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.35pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">filed.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:30.95pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">As of the date hereof,
the Company, the Bank and each other insured depository institution Subsidiary
of the Company are each &#8220;well-capitalized&#8221; (as such term is defined in the
relevant regulation of the institution&#8217;s primary bank</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">regulator).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:28.65pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:100%;">(c)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:100%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:100%;">As of
the date hereof, Seller has no reason to believe that the Requisite Regulatory
Approvals will not be obtained in the ordinary course and without material delay.</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:11.15pt;margin-top:3.9pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.10&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Derivative
Instruments</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as would not, individually or
in the aggregate, reasonably be expected to have a Material Adverse Effect, all
swaps, caps, floors, option agreements, futures and forward contracts and other
similar derivative transactions (each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Derivative Contract</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), whether
entered into for the Company&#8217;s own account, or for the account of one or more
of the Company&#8217;s Subsidiaries or their respective customers, were entered into
(i) in accordance with prudent business practices and all applicable laws,
rules, regulations and regulatory policies and (ii) with counterparties
believed to be financially responsible at the time; and each Derivative
Contract constitutes the valid and legally binding obligation of the Company or
one of the Company&#8217;s Subsidiaries, as the case may be, enforceable in
accordance with its terms (except as enforceability may be limited by the
Bankruptcy and Equity Exception), and are in full force and effect. Except as
would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect, neither the Company nor its Subsidiaries, nor to the
Knowledge of Seller any other party thereto, is in breach of any of its
obligations under any Derivative</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Contract.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:10.95pt;margin-right:15.9pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.11&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Litigation</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as (i) disclosed in the Company SEC Reports filed prior to
the date hereof, (ii) otherwise set forth in Section 3.11 of the Seller&#8217;s
Disclosure Schedule and (iii) would not, individually or in the aggregate,
reasonably be expected to be material to the Company and its Subsidiaries,
taken as a whole, (A) there is no, and has not been during the preceding three
(3) years any, Action before any Governmental Authority pending against the
Bank, the Company or any of its other Subsidiaries, and, to the Knowledge of
Seller, no such Action has been threatened, and (B) to the Knowledge of Seller,
no such Action has been threatened or commenced that is reasonably likely to
impair the ability of the Seller or its Affiliates to perform its obligations
under the Transaction Documents or otherwise impede or delay the consummation
of the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:10.8pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.12&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No Brokers</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except for any fees that may be due and owing to J.P. Morgan
Securities plc or any of its Affiliates, which will be paid by Seller or one of
its Affiliates (other than the Company or the Company&#8217;s Subsidiaries), there is
no investment banker, broker, finder or other intermediary that has been
retained by or is authorized to act on behalf of Seller or the Company who
might be entitled to any fee or commission from Seller or the Company in
connection with the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:83.0pt;margin-right:0cm;margin-top:0cm;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.13&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Employee Benefit</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Plans</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:23.55pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as would not
reasonably be expected to be material to the Company and its Subsidiaries, taken
as a whole, each Company Benefit Plan has been established, operated and
administered in accordance with its terms and the requirements of all
applicable laws, including ERISA and the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Code.&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:20.55pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.13(b) of the
Seller&#8217;s Disclosure Schedule sets forth a complete and correct list of each
material Company Benefit Plan. The Company has made available to Purchaser true
and complete copies of each material Benefit Plan (or, in the case of any
Benefit Plan that is unwritten, a description thereof) and the following
related documents, to the extent applicable: (i) all summary plan descriptions,
amendments, modifications or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">material&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:33.75pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">supplements,
(ii) the most recent annual report (Form 5500) filed with the IRS, (iii) the
most recently received IRS determination letter, (iv) the most recently
prepared actuarial report or financial statement and (v) all material filings
and non-routine correspondence with a Governmental Authority since January 1,
2019.</font></p>

<p style="margin-bottom:6.0pt;margin-left:10.95pt;margin-right:12.4pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The IRS has issued a
favorable determination letter or opinion with respect to each Company Benefit
Plan that is intended to be qualified under Section 401(a) of the Code (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company
Qualified Plans</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) and the related trust, which letter or opinion has not
been revoked (nor has revocation been threatened), and, to the Knowledge of
Seller, there are no existing circumstances and no events have occurred that
would adversely affect the qualified status of any Company Qualified Plan or
the related</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">trust.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:10.95pt;margin-right:12.8pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">None of the Company and
its Subsidiaries nor any Company ERISA Affiliate has, at any time during the
last six (6) years, contributed to or been obligated to contribute to (i) a
plan that is subject to Section 412 of the Code or Section 302 or Title IV of
ERISA, (ii) a Multiemployer Plan or (iii) a plan that has two (2) or more
contributing sponsors at least two (2) of whom are not under common control,
within the meaning of Section 4063 of ERISA (a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Multiple Employer Plan</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;),
and none of the Company and its Subsidiaries nor any Company ERISA Affiliate
has incurred or would incur any liability that has not been satisfied in full
to a Multiemployer Plan or Multiple Employer Plan as a result of a complete or
partial withdrawal (as those terms are defined in Part I of Subtitle E of Title
IV of ERISA) from a Multiemployer Plan or Multiple Employer</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Plan.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:10.95pt;margin-right:15.2pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as would not
reasonably be expected to be material to the Company and its Subsidiaries,
taken as a whole, with respect to each Company Benefit Plan that is subject to
Section 302 or Title IV of ERISA or Section 412, 430 or 4971 of the Code: (i)
the minimum funding standard under Section 302 of ERISA and Sections 412 and
430 of the Code has been satisfied and no waiver of any minimum funding
standard or any extension of any amortization period has been requested or
granted, (ii) no such plan is in &#8220;at-risk&#8221; status for purposes of Section 430
of the Code, (iii) the present value of accrued benefits under such Company
Benefit Plan, based upon the actuarial assumptions used for funding purposes in
the most recent actuarial report prepared by such Company Benefit Plan&#8217;s
actuary with respect to such Company Benefit Plan, did not, as of its latest
valuation date, exceed the then current fair market value of the assets of such
Company Benefit Plan allocable to such accrued</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">benefits,&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:10.1pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv) no reportable event within the
meaning of Section 4043(c) of ERISA for which the 30-day notice requirement has
not been waived has occurred, (v) all premiums to the Pension Benefit Guaranty
Corporation (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PBGC</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) have been timely paid in full, (vi) no
liability (other than for premiums to the PBGC) under Title IV of ERISA has
been or would be expected to be incurred by the Company or any of its
Subsidiaries, and (vii) the PBGC has not instituted proceedings to terminate
any such Company Benefit Plan.</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:18.2pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(f)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as would not
reasonably be expected to be material to the Company and its Subsidiaries,
taken as a whole, no Benefit Plan provides for any post- employment or
post-retirement health or medical or life insurance benefits for retired,
former</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:0cm;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">current employees or beneficiaries or dependents thereof, except as
required by Section 4980B of the Code.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:14.45pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(g)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as would not
reasonably be expected to be material to the Company and its Subsidiaries,
taken as a whole, all contributions required to be made to any Company Benefit
Plan by applicable law or by any plan document or other contractual
undertaking, and all premiums due or payable with respect to insurance policies
funding any Company Benefit Plan, for any period through the date hereof, have
been timely made or paid in full or, to the extent not required to be made or
paid on or before the date hereof, have been</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.1pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">fully reflected on the books and records of the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:12.3pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(h)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as set forth in
3.13(h) of the Seller&#8217;s Disclosure Schedule, there are no pending or threatened
claims (other than claims for benefits in the ordinary course), lawsuits or
arbitrations which have been asserted or instituted, and, to the Knowledge of
Seller, no set of circumstances exists which may reasonably give rise to a
claim or lawsuit, against the Benefit Plans, any fiduciaries thereof with
respect to their duties to the Benefit Plans or the assets of any of the trusts
under any of the Benefit Plans that would result in any liability of the Company
or any of its Subsidiaries in an amount that would reasonably be expected to be
material to the Company and its Subsidiaries, taken as a</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">whole.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:22.35pt;margin-top:.05pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as would not
reasonably be expected to be material to the Company and its Subsidiaries,
taken as a whole, none of the Company and its Subsidiaries nor any Company
ERISA Affiliate has engaged in any &#8220;prohibited transaction&#8221; (as defined in
Section 4975 of the Code or Section 406 of ERISA) which would be reasonably be
expected</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to subject any of the
Company Benefit Plans or their related trusts, the Company, any of its
Subsidiaries or any Company ERISA Affiliate to any material Tax or penalty
imposed under Section 4975 of the Code or Section 502 of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ERISA.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(j)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Neither the execution
and delivery of this Agreement nor the consummation of the transactions
contemplated hereby will (either alone or in conjunction with any other event):
(i) result in any payment, right or other benefit becoming due to any current
or former employee, officer, director or other service provider of the Company
or any of its Subsidiaries, (ii) increase any benefits payable to any current
or former employee, officer, director or other service provider of the Company
or any of its Subsidiaries under any Benefit Plan or otherwise result in the acceleration
of vesting, exercisability, funding or delivery of, or increase in the amount
or value of such benefits, or (iii) result in any limitation on the right of
the Company or any of its Subsidiaries or, after the Closing, Purchaser, to
amend, merge, terminate, transfer or receive a reversion of assets from any
Company Benefit Plan or related trust on or after the Effective Time. Without
limiting the generality of the foregoing, no amount paid or payable (whether in
cash, in property, or in the form of benefits) by the Company or any of its
Subsidiaries in connection with the transactions contemplated hereby (either
solely as a result thereof or as a result of such transactions in conjunction
with any other event) will be an &#8220;excess parachute payment&#8221; within the meaning
of Section 280G of the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Code.&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:6.0pt;margin-left:11.05pt;margin-right:19.55pt;margin-top:3.9pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(k)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No Company Benefit Plan
provides for the gross-up or reimbursement of Taxes under Section 409A or 4999
of the Code, or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">otherwise.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.05pt;margin-right:12.25pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(l)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as would not
reasonably be expected to be material to the Company and its Subsidiaries,
taken as a whole, there does not now exist, nor do any circumstances exist that
could result in, any liabilities under Title IV or Section 302 of ERISA or
Sections 412 or 4971 of the Code or under corresponding or similar provisions
of foreign laws or regulations, other than such liabilities that arise solely
out of, or relatedly solely to, the Company Qualified Plans listed in Section
3.13(b) of the Seller&#8217;s Disclosure</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.05pt;margin-right:13.95pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(m)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as would not,
either individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect, each Company Benefit Plan, if any, which is maintained
outside the U.S. (i) has been operated in conformance with the applicable
statutes or governmental regulations and rulings relating to such plans in the
jurisdictions in which such Company Benefit Plan is present or operates and, to
the extent relevant, the United States, (ii) that is intended to qualify for
special tax treatment meets all requirements for such treatment</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.05pt;margin-right:63.4pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii) that is intended to be funded
or book-reserved is fully funded or book reserved, as appropriate, based upon
reasonable actuarial assumptions.</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.05pt;margin-right:39.6pt;margin-top:0cm;text-align:justify;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(n)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No employee or director
of the Company or any of its Subsidiaries is entitled to pay or benefits upon a
termination of employment under a Seller Benefit Plan or applicable Law for
which Purchaser would be</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">responsible.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.05pt;margin-right:12.3pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.14&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Labor Matters</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as would not, either individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect, there are no pending
or, to the Knowledge of Seller, threatened labor grievances or unfair labor
practice claims or charges against the Company or any of its Subsidiaries, or
any strikes or other labor disputes against the Company or any of its Subsidiaries.
Neither the Company nor any of its Subsidiaries is party to or bound by any
collective bargaining or similar agreement with any union, works council or
other labor organization, or work rules or practices agreed to with any union,
works council, labor organization or employee association applicable to
employees of the Company or any of its Subsidiaries and there are no pending
or, to the Knowledge of Seller, threatened organizing efforts by any union or
other group seeking to represent any current or former employees of the Company
or any of its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.05pt;margin-right:11.9pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Company is and has
been in compliance in all respects with all applicable Laws respecting
employment and employment practices, terms and conditions of employment,
collective bargaining, worker classification, disability, immigration, health
and safety, wages, hours and benefits, non-discrimination in employment and
workers&#8217; compensation and WARN, except as would not reasonably be expected to
be material to the Company and its Subsidiaries, taken as a</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">whole.&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:22.95pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">During the preceding
three (3) years, (i) no allegations of sexual harassment or misconduct have
been made against (A) an officer of the Company or any of its Subsidiaries, (B)
a member of the board of directors of the Company or any of its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries,&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:0cm;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or (C) an employee of the Company or any of its Subsidiaries
classified at or above Grade 22,</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:13.2pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">there are no Actions
pending or, to the Knowledge of Seller, threatened related to any allegations
of sexual harassment or other sexual misconduct by (A) an officer of the
Company or any of its Subsidiaries, (B) a member of the board of directors of
the Company or any of its Subsidiaries, or (C) an employee of the Company or
any of its Subsidiaries classified at or above Grade 22, and (iii) the neither
the Company nor any of its Subsidiaries has entered into any settlement
agreements related to allegations of sexual harassment or misconduct by (A) an
officer of the Company or any of its Subsidiaries, (B) a member of the board of
directors of the Company or any of its Subsidiaries, or (C) an employee of the
Company or any of its Subsidiaries classified at or above Grade</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">22.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:13.95pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as would not,
either individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect, neither the Company nor any of its Subsidiaries has
taken any action that could cause Purchaser and its Affiliates to have any
liability or other obligation following the Closing Date under</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WARN.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.1pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.15&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Taxes</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as would not reasonably be expected to be material to the
Company and its Subsidiaries, taken as a</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">whole:&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.25pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i) Each of the Company
and its Subsidiaries have timely filed or will timely file all Tax Returns that
are required to be filed on or before the Closing Date by the Company or its
Subsidiaries, taking into account any applicable extensions, and all such Tax
Returns are or will be true, correct and complete, (ii) each of the Company and
its Subsidiaries have timely paid or will timely pay all Taxes required to be
paid by any of them (whether or not shown on any Tax Return) and (iii) all
deficiencies asserted in writing or assessments made in writing by the relevant
Taxing Authority in connection with any of the Tax Returns referred to in
clause (i) have been or will be timely paid in full on or before the Closing</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Date.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:16.2pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Company and its
Subsidiaries have complied with all applicable information reporting,
collection and withholding requirements with respect to Taxes and, to the
extent required by applicable Law, any collected or withheld Taxes have been
paid to the relevant Taxing</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Authority.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.85pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Other than Permitted
Liens, there are no Liens on the Company&#8217;s or any of its Subsidiaries&#8217; assets
that arose in connection with any failure (or alleged failure) to pay any Tax.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:60.95pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No waiver of any
statute of limitations with respect to any of the Company&#8217;s or any of its
Subsidiaries&#8217; Taxes is in</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">effect.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:20.9pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No jurisdiction in
which the Company or any of its Subsidiaries does not file a Tax Return of a
particular type has asserted in writing a claim that the Company or such
Subsidiary is subject to Taxes of such type or required to file Tax Returns of
such type in such jurisdiction.</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">34</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:14.3pt;margin-top:3.9pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(f)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No closing agreements,
private letter rulings, technical advice memoranda or similar agreements or
rulings have been entered into with or issued by any Taxing Authority with
respect to the Company or its Subsidiaries that would bind the Company in any
taxable period (or portion thereof) after the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Closing.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.95pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(g)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Neither the Company nor
any of its Subsidiaries (i) has been a member of an affiliated, consolidated,
combined, unitary or similar Tax group for purposes of filing any Tax Return,
other than, for purposes of filing consolidated U.S. federal income tax
returns, a group of which either the Company or such Subsidiary was the common
parent, or (ii) has any liability for Taxes of any Person (other than the
Company or any of its Subsidiaries) under Treasury Regulations Section 1.1502-6
(or any similar provision of state, local or foreign law), as a transferee or
successor, by contract or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">otherwise.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:13.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(h)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Neither the Company nor
any of its Subsidiaries will be required to include any item of income in, or
exclude any item of deduction from, taxable income for any taxable period (or
portion thereof) beginning after the date hereof, as a result of (i) any change
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;">in </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">accounting method made before the
Closing under Section 481(c) of the Code (or any similar provision of state,
local or foreign Law), (ii) &#8220;closing agreement&#8221; described in Section 7121 of
the Code (or any similar provision of state, local or foreign Law) entered into
prior to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Closing,&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.25pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">installment sale or
open transaction disposition or intercompany transaction made on or prior to
the Closing, (iv) prepaid amount received on or prior to the Closing, or (v)
the deferral of any Tax obligations pursuant to the Coronavirus Aid, Relief,
and Economic Security Act or similar statutory relief, in each case, as a
result of any action or transaction occurring prior to the Closing.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.25pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller is, and at all
times since January 1, 2017 has been, (i) &#8220;foreign&#8221; within the meaning of
Section 7701(a)(5) of the Code and (ii) properly classified as a corporation
under Treasury Regulations Section</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">301.7701-2.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:25.85pt;margin-top:.05pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(j)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Neither the Company nor
any of its Subsidiaries has constituted either a &#8220;distributing corporation&#8221; or
a &#8220;controlled corporation&#8221; (within the meaning of Section 355(a)(1)(A) of the
Code) in a distribution of stock qualifying for tax-free treatment under
Section 355 of the Code within the three-year period immediately preceding the
date of this Agreement.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:27.85pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(k)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Neither the Company nor
any of its Subsidiaries has participated in any &#8220;listed transaction&#8221; within the
meaning of Section 6707A(c)(2) of the Code and Treasury Regulations Section</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">1.6011-4(b)(2).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:17.05pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(l)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">There are no pending or
threatened in writing audits, suits, claims, examinations, investigations, or
other proceedings in respect of Taxes of the Company or any of its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries.&nbsp;</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:20.7pt;margin-top:3.9pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(m)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Company is not, nor
has it been, a U.S. real property holding corporation (as defined in Section
897(c)(2) of the Code) during the applicable period specified in Section
897(c)(1)(A) of the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Code.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.5pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(n)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No Subsidiary of the
Company is characterized as a &#8220;foreign&#8221; corporation for U.S. federal income tax
purposes. Neither the Company nor any of its Subsidiaries has in effect an
election pursuant to Section 965(h) of the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Code.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:21.55pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.16&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Insurance</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The Company, the Bank and Company&#8217;s other Subsidiaries are insured
against such risks and in such amounts as are adequate and as the management of
the Company reasonably has determined to be prudent in accordance with
reasonable market practices. Except as disclosed in Section 3.16 of the
Seller&#8217;s Disclosure Schedule, each such material insurance policy is in the
name of the Company, the Bank and/or one of the Company&#8217;s other Subsidiaries
and is in full force and effect, all premiums due and payable thereon have been
paid, and none of the Company, the Bank or any other Company Subsidiary has
received written notice to the effect that any of them is in material default
under any such insurance policy, and all claims thereunder have been filed in a
timely fashion. There is no material claim pending under any of such policies
with respect to the Company, the Bank or any other Company Subsidiary as to
which coverage has been denied or disputed by the underwriters of such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">policies.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.17&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Intellectual&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Property</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.2pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.17(a) of
Seller&#8217;s Disclosure Schedule sets forth a true and complete list of all
Intellectual Property owned by the Company or any of its Subsidiaries that is
Registered, indicating, for each item of such Registered Intellectual Property,
the registration or application number and the applicable filing jurisdiction.&#160;
The Company or one of its Subsidiaries is the sole and exclusive owner of the
Registered Intellectual Property owned or purported to be owned by the Company
or any of its Subsidiaries, free and clear of all Liens (other than Permitted
Liens), and all rights in such Registered Intellectual Property are subsisting,
and to the Knowledge of Seller, valid and enforceable. To the Knowledge of
Seller, the Company and its Subsidiaries have a valid right to use all
Intellectual Property used by any of them. Other than the Seller Marks and any
Intellectual Property provided or licensed pursuant to the Transitional
Services Agreement or pursuant to the Transitional Trademark License, none of
the Company or any of its Subsidiaries makes material use of any Intellectual
Property owned or licensed by the Seller or its Affiliates (other than the
Company and its Subsidiaries). For the avoidance of doubt, with respect to BBVA
Transfer Services, Inc., to the Knowledge of the Seller, other than Seller
Marks, the Company or one of its Subsidiaries is the sole and exclusive owner
of the Intellectual Property, or is the licensee of the Intellectual Property,
used in BBVA Transfer Services, Inc.&#8217;s business and operations, and no such
Intellectual Property is owned or licensed by or through the Seller or its
Affiliates (other than the Company and its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as set forth in
Section 3.17(b) of the Seller&#8217;s Disclosure</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule,&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:20.1pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i) to the
Knowledge of Seller the operation of the businesses of the Bank, the Company
and its other Subsidiaries as currently conducted does not infringe or
misappropriate the Intellectual</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.1pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Property of any third party, (ii) no Person has asserted in a
writing received by Seller, the Bank, the Company or any of its other
Subsidiaries during the two (2) years preceding the date hereof that the Bank,
the Company or any of its other Subsidiaries has infringed or misappropriated
the Intellectual Property of any third party and; (iii) to the Knowledge of
Seller, during the two (2) years preceding the date hereof no third party has
infringed or misappropriated any Intellectual Property owned by the Bank, the
Company or its other Subsidiaries.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:13.25pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Bank, the Company
and its other Subsidiaries have taken reasonable measures to protect (i) their
respective rights in the Intellectual Property owned by the Bank, the Company
or its other Subsidiaries and (ii) the confidentiality of all trade secrets
that are included in the Intellectual Property owned by the Bank, the Company
or its other Subsidiaries and such trade secrets have not been used or
disclosed to any Person except pursuant to appropriate nondisclosure agreements
which, to the Knowledge of the Seller, have not been</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">breached.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.9pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each current and former
employee or independent contractor of the Company and its Subsidiaries who made
a material contribution to the creation or development of any Intellectual
Property on behalf of the Company or any of its Subsidiaries has signed an
agreement that assigns, or otherwise has an obligation to assign, to the
Company or its applicable Subsidiary all of such employee&#8217;s or independent
contractor&#8217;s rights in such contribution or the Company or its applicable
Subsidiary otherwise owns all such rights as a matter of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Law.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:12.5pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Neither the Company nor
any Subsidiary has incorporated or linked to any open source or &#8220;copyleft&#8221;
software in any material proprietary software of the Company or any of its
Subsidiaries in a manner that would (i) require any components of such material
proprietary software owned by the Company or any of its Subsidiaries to be
licensed, disclosed or distributed to any third party under any terms,
including making the source code publicly available or (ii) individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect on the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.18&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Privacy and</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Cybersecurity</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:18.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as would not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect on the Company, (i) the Company and its Subsidiaries have
provided reasonable notice to their customers of their privacy and Personal
Information collection and use policies on their websites and through other
customer and public communications and the Company and its Subsidiaries have
complied with such policies, corresponding contractual requirements and all
Privacy Laws relating to (A) the privacy of the users of the Company&#8217;s and its
Subsidiaries&#8217; respective products, services and websites and (B) the
collection, use, processing, storage and disclosure of any Personal Information
collected, used, processed, stored or disclosed by the Company or any of its
Subsidiaries, (ii) there is no Action pending or, to the Knowledge of Seller,
threatened against the Company or any of its Subsidiaries alleging any
violation of such policies, corresponding contractual requirements or Privacy Laws,
(iii) neither the execution and delivery of this Agreement nor the consummation
of the Transactions will violate any such policy, corresponding contractual
requirements or Privacy Laws and (iv) the Company and its Subsidiaries have
taken commercially</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">reasonable&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.15pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">steps consistent with normal industry practice and in compliance
with Privacy Laws in relation</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to
data security, data protection or data privacy to protect Personal Information
against loss and unauthorized access, use, modification, disclosure or other
misuse, and, to the Knowledge of Seller, in the prior three (3) year period,
there has been no unauthorized access, use, modification, disclosure or other
misuse of such data or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">information.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:14.3pt;margin-top:10.85pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as would not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect on the Company, (i) the Company IT Assets, taken together with
the IT Assets that will be provided pursuant to the Transitional Services
Agreement, perform in a manner that permits the Company and its Subsidiaries to
conduct their respective businesses as currently conducted, (ii) the Company
and its Subsidiaries take commercially reasonable actions, consistent with
current industry standards, to protect the confidentiality, integrity and
security of the Company IT Assets (and all information and transactions stored
or contained therein or transmitted thereby) against any unauthorized use,
access, interruption, modification or corruption, including the implementation
of commercially reasonable data backup, disaster avoidance and recovery
procedures and business continuity procedures, and (iii) to the Knowledge of
Seller, in the prior three (3) year period, there has been no unauthorized use,
access, interruption, modification or corruption of the Company IT Assets (or
any information or transactions stored or contained therein or transmitted</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">thereby).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.65pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.19&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Extensions
of Credit</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as would not, individually or in
the aggregate, have a Material Adverse Effect, each loan, revolving credit
facility, letter of credit or other extension of credit (including guarantees)
or commitment to extend credit (collectively, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Extensions of Credit</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
made or entered into by the Company or one of its Subsidiaries (i) complies
with all applicable Laws, (ii) has been made, entered into or acquired by the
Company or any of its Subsidiaries in accordance with board of
director-approved loan policies, management policies and procedures or
customary industry standards, as applicable, (iii) is evidenced by original
promissory notes or other evidences of indebtedness, which, together with all
security agreements and guarantees, are valid and legally binding obligations
of the Company or one of its Subsidiaries and the counterparty or
counterparties thereto, are enforceable in accordance with their terms (except
as enforcement may be limited by the Bankruptcy and Equity Exception) and (iv)
is in full force and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">effect.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:13.25pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.19(b) of
Seller&#8217;s Disclosure Schedule sets forth a complete and correct list of all
Extensions of Credit that, as of September 30, 2020, were classified by the
Bank as &#8220;Special Mention,&#8221; &#8220;Substandard,&#8221; &#8220;Doubtful,&#8221; &#8220;Loss,&#8221; &#8220;Classified,&#8221;
&#8220;Criticized,&#8221; &#8220;Watch&#8221; or words of similar import. True, correct and complete
copies of the currently effective lending policies and practices of the Company
and its Subsidiaries have been made available to the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.25pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each outstanding
Extension of Credit (including Extensions of Credit </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">held </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">for resale or previously sold to investors) has been
solicited and originated and is administered and, where applicable, serviced,
and the relevant files are being maintained, in all material respects in
accordance with the relevant loan documents, the Bank&#8217;s or, if applicable,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:14.75pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company&#8217;s or other Company Subsidiary&#8217;s (if any), underwriting
standards and with all requirements of applicable Laws and applicable
requirements of any government-sponsored enterprise program. The Company and
each of its Subsidiaries has properly fulfilled in all material respects its
contractual responsibilities and duties in any Extension of Credit in which it
acts as the lead lender or servicer and has complied in all material respects
with their duties as required under applicable regulatory requirements.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:23.8pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Seller has
previously delivered to the Purchaser spreadsheets containing information
regarding certain categories of loans made by the Company and its Subsidiaries
as of September 30, 2020 (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Loan Data File</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) and the information
contained in the Loan Data File is accurate and complete in all material
respects as of such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">date.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:19.3pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Since January 1, 2019
through the date hereof, there has been (i) no written demand made to the
Company, the Company&#8217;s Subsidiaries or any of their respective Affiliates for
the repurchase of any Extensions of Credit due to the alleged breach of any
representation, warranty or covenant with respect to such Extensions of Credit
or due to alleged fraud relating thereto, or (ii) to the Knowledge of the
Seller, except as would not reasonably be expected to be material to the
Company or any of its Subsidiaries, taken as a whole, and other than on account
of an obligor&#8217;s insolvency or claimed insolvency, no claim in an amount in
excess of $10,000,000 by an obligor of any Extension of Credit asserting that
the obligor is entitled to damages associated with the Seller&#8217;s conduct in
connection with such Extension of Credit.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;margin-right:0cm;margin-top:4.5pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.20&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Certain Loan</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Matters</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:17.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.20(a) of the
Seller&#8217;s Disclosure Schedule contains a list of all Extensions of Credit as of
September 30, 2020, by the Bank, the Company and its other Subsidiaries to any
directors, executive officers and principal shareholders (as such terms are
defined in Regulation O of the Federal Reserve (12 C.F.R. Part 215)) of the
Company, the Bank or any of its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.4pt;margin-top:.05pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as disclosed in
Section 3.20(b) of the Seller&#8217;s Disclosure Schedule, there are no Extensions of
Credit to any employee, officer, director or other Affiliate of the Bank, the
Company or any of its other Subsidiaries on which the borrower is paying a rate
other than that reflected in the note or the relevant credit agreement or on
that the borrower is paying a rate which was below market at the time the
Extensions of Credit were made, all such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Extensions
of Credit are and were made in compliance in all material respects with all
applicable</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Laws.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.0pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.21&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Trust
Business</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. During the three (3) years preceding the
date hereof, each of the Bank and its Subsidiaries has properly administered in
all material respects all accounts for which it acts as a fiduciary, including
accounts for which it serves as trustee, agent, custodian, personal
representative, guardian, conservator or investment advisor, in accordance with
the terms of the governing documents and applicable Laws. Neither the Bank nor
any of its Subsidiaries nor, to the Knowledge of Seller, any of their current
or former directors, officers</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:55.1pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">employees, has committed any breach of trust or fiduciary duty with
respect to any such fiduciary account.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.22&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Compliance
with Environmental</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Laws</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:16.05pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as would not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect, during the three (3) years preceding the date hereof, the
Company and its Subsidiaries have been in compliance with all applicable
Environmental Laws.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.35pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">There is no Action
pending or, to Seller&#8217;s Knowledge, threatened, in which the Company or any of
its Subsidiaries has been or, with respect to threatened Actions would reasonably
be expected to be, named as a defendant or which seek to impose, or would
reasonably be expected to result in the imposition, on the Company or any of
its Subsidiaries any liabilities or obligations in each case (i) for alleged
material noncompliance with any Environmental Law or (ii) relating to any
material Release into the environment of any Hazardous Substance, occurring at
or on a site owned, leased or operated by the Company or any of its
Subsidiaries, or, to Seller&#8217;s Knowledge, relating to any material Release into
the environment of any Hazardous Substance, occurring at or on a site not
owned, leased or operated by the Bank or any of its Subsidiaries, and, to
Seller&#8217;s Knowledge, there is no reasonable basis for, or circumstances that are
reasonably likely to give rise to, any such proceeding, investigation or
remediation by any Governmental Authority or other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Person.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:21.2pt;margin-top:.05pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">To Seller&#8217;s Knowledge,
during the period of the Company&#8217;s or any of its Subsidiaries&#8217; ownership,
tenancy or operation of any property (including any property owned, operated or
leased by the Company or any of its Subsidiaries), there has not been any
material Release of Hazardous Substance in, on, under or affecting any such
property that requires remediation by the Company or any of its Subsidiaries or
otherwise would reasonably be expected to result in the imposition on the
Company or any of its Subsidiaries (or any of their respective assets or
properties) of any material liability or obligation under any Environmental
Law.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:23.1pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Neither the Company nor
any of its Subsidiaries (i) is a party to any Government Order imposing any
material liability or obligation under any Environmental Law or (ii) during the
two (2) years preceding the date hereof, has received any written notice, demand
letter, executive or administrative order, directive or request for information
from any Governmental Authority or any third party indicating that it may be in
violation of, or liable under, any Environmental</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Law.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:17.75pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.23&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Use
of Assets</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except for those services contemplated
by the Transitional Services Agreement and the Transitional Trademark License,
the Company, the Bank and Company&#8217;s other Subsidiaries own or have the right to
use, and after the consummation of the Transactions will continue to own or
have the right to use, all assets, liabilities, rights and properties used by
them in the conduct of their respective businesses, in</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">all&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:26.15pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">material respects in the same manner and on the same terms as
currently conducted, subject to obtaining any Third Party Consents.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.24&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No Other
Representations or</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Warranties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:15.05pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except for the
representations and warranties contained in this Agreement (including any
certificate or other instrument delivered in connection therewith), neither
Seller nor any other Person makes any other express or implied representation
or warranty on behalf of Seller relating to Seller, the Company or their
respective Affiliates, and Purchaser acknowledges the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">same.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:13.8pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PURCHASER ACKNOWLEDGES
AND AGREES THAT, EXCEPT IN THE CASE OF FRAUD, SELLER, THE COMPANY AND THEIR
AFFILIATES WILL NOT HAVE OR BE SUBJECT TO ANY LIABILITY OR OBLIGATION TO
PURCHASER OR ANY OF ITS AFFILIATES OR ANY OTHER PERSON RESULTING FROM THE
MAKING AVAILABLE OR FAILING TO MAKE AVAILABLE TO PURCHASER OR ANY OF ITS
AFFILIATES, OR ANY USE BY PURCHASER OR ANY OF ITS AFFILIATES OF, ANY
INFORMATION, INCLUDING ANY INFORMATION, DOCUMENTS, PROJECTIONS, FORECASTS OR
OTHER MATERIAL MADE AVAILABLE TO PURCHASER OR ANY</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-2.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OF ITS AFFILIATES IN CERTAIN &#8220;DATAROOMS&#8221; OR MANAGEMENT
PRESENTATIONS IN EXPECTATION OF THE TRANSACTIONS, EXCEPT TO THE EXTENT ANY SUCH
INFORMATION IS INCLUDED IN A REPRESENTATION OR WARRANTY CONTAINED IN THIS
AGREEMENT (INCLUDING ANY CERTIFICATES OR OTHER INSTRUMENTS DELIVERED IN CONNECTION</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THEREWITH).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:.05pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE IV</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">REPRESENTATIONS AND WARRANTIES OF PURCHASER</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.95pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as set forth in the (i) Purchaser SEC Reports filed after
December 31, 2017 and prior to the date hereof or (ii) corresponding sections
or subsections of the disclosure schedules delivered to Seller by the Purchaser
prior to entering into this Agreement (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser&#8217;s Disclosure Schedule</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
(it being agreed that disclosure of any item in any section or subsection of
the Purchaser&#8217;s Disclosure Schedule shall be deemed disclosure with respect to
any other section or subsection to which the relevance of such item is
reasonably apparent on the face of the disclosure), the Purchaser hereby
represents and warrants to the Seller, as of the date hereof (or as of such
other date as may be expressly provided in any representation or warranty) and
as of the Closing Date, as</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">follows:&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:14.9pt;margin-top:0cm;text-indent:108.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.1&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Organization,
Standing and Authority</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Purchaser is duly
organized, validly existing and in good standing under the Laws of its
jurisdiction of organization. Purchaser has all corporate power and authority
to own, lease and operate its properties and to carry on its business as now
conducted and is duly qualified to do business as a foreign corporation and is
in good standing in each jurisdiction where the character of the property owned
or leased by it or the nature of its activities makes such qualification</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">necessary,&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.8pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">except where failure to be so qualified would not, individually or
in the aggregate, reasonably be expected to have a Purchaser Material Adverse
Effect.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.4pt;margin-top:0cm;text-indent:108.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.2&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Corporate
Authorization and Binding Effect</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The execution,
delivery and performance by Purchaser (or any of its Affiliates that may be a
party to any Transaction Document) of the Transaction Documents and the
Transactions have been duly and validly authorized by all necessary corporate
action of Purchaser (and, if applicable, any such Affiliate) prior to the date
of this Agreement. This Agreement is a valid and legally binding obligation of
Purchaser, and the other Transaction Documents to which Purchaser is or will be
a party have been, or at Closing will be, duly executed and delivered by
Purchaser and assuming due authorization, execution, and delivery of the
Transaction Documents by the other parties thereto, constitute, or at Closing
will constitute, legal, valid and binding agreements of Purchaser, enforceable
against Purchaser in accordance with their respective terms (except as
enforceability may be limited by the Bankruptcy and Equity</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Exception).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Regulatory
Filings; No</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Defaults</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:15.45pt;margin-right:16.2pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No consents or
approvals of, or filings or registrations with, any Governmental Authority or
other third party are required to be made or obtained by the Purchaser or any
of its Affiliates in connection with the execution, delivery or performance by
Purchaser or its Affiliates of the Transaction Documents to which they are a
party, or to effect the Transactions, except for (i) the filing of the
applications, filings or notices to or with the Government Authorities listed
in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Annex A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, as applicable to the Purchaser or its Affiliates, and
approval of or non-objection to such applications, filings and notices; and
(ii) such other consents, approvals, filings or registrations the failure of
which to be obtained would not, individually or in the aggregate, reasonably be
expected to have a Purchaser Material Adverse Effect. As of the date hereof,
Purchaser (1) has no reason to believe that the Requisite Regulatory Approvals
will not be obtained in the ordinary course and without material delay with the
execution and delivery of this Agreement by the Purchaser and the performance
by the Purchaser of this Agreement and the consummation of the transactions
contemplated hereby, and (2) is compliant in all material respects with all
Laws applicable to the conduct of its businesses that could reasonably be
expected to prevent or materially delay receipt of the Requisite Regulatory
Approvals.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:15.45pt;margin-right:16.2pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subject to the receipt
of the approvals and consents referred to in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Annex A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and the expiration
or early termination of applicable waiting periods, the execution, delivery and
performance by Purchaser of the Transaction Documents to which it is a party
and the consummation by it of the Transactions do not (i) conflict with,
contravene, constitute a violation or breach of or default under or give rise
to (or give rise after the giving of notice, the passage of time or both) a
right of termination, cancellation or acceleration of any obligation of
Purchaser or to a loss of any benefits to which Purchaser is entitled under any
provision of (i) Purchaser&#8217;s Constituent Documents or (ii) assuming compliance
with the requirements referred to in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, any Law or
Government Order binding upon Purchaser or any of its Subsidiaries,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.75pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">than violations which would not, individually or in the aggregate,
reasonably be expected to have a Purchaser Material Adverse Effect.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:30.8pt;margin-top:0cm;text-indent:108.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.4&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No
Brokers</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except for any fees which may be due and
owing to BofA Securities, Inc., Citigroup Global Markets Inc., and Evercore
Group L.L.C., which will be paid by Purchaser, there is no investment banker,
broker, finder or other intermediary that has been retained by or is authorized
to act on behalf of Purchaser or its Affiliates who might be entitled to any
fee or commission from Purchaser or its Affiliates in connection with the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.8pt;margin-top:0cm;text-indent:108.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.5&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Litigation</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as (i) disclosed in the Purchaser SEC Reports, (ii)
otherwise set forth in Section 4.6 of the Purchaser&#8217;s Disclosure Schedule and
(iii) would not, individually or in the aggregate, reasonably be expected to
have a Purchaser</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Material Adverse
Effect, (A) there is no Action before any Governmental Authority against
Purchaser or its Affiliates, and, to Purchaser&#8217;s Knowledge, no such Action has
been threatened, and (B) to Purchaser&#8217;s Knowledge, no such Action has been
threatened or commenced that is reasonably likely to impair the ability of
Purchaser to perform its obligations under the Transaction Documents or
otherwise impede or delay the consummation of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.75pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.6&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Availability
of Funds</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. As of the date of this Agreement,
Purchaser has sufficient funds, and will at the Closing have immediately
available funds in cash, to pay when due all amounts payable by it</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereunder.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:14.1pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.7&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Investment</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Purchaser is acquiring the Shares for its own account as an
investment without the present intent to sell, transfer or otherwise distribute
the same to any other Person. Purchaser has made, independently and without
reliance on Seller (except to the extent that Purchaser has relied on the
representations and warranties of Seller in this Agreement), its own analysis
of the Shares for the purpose of acquiring the Shares. Purchaser acknowledges
that the Shares are not registered pursuant to any Securities Laws and that
none</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of the Shares may be
transferred, except pursuant to a registration statement or an applicable
exemption under the Securities Act. Purchaser is an &#8220;accredited investor&#8221; as
defined under Rule 501 promulgated under the Securities</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Act.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:13.4pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.8&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No
Other Representations or Warranties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except for the
representations and warranties contained in this Agreement (including any
certificate or other instrument delivered in connection therewith), neither
Purchaser nor any other Person makes any other express or implied
representation or warranty on behalf of Purchaser relating to Purchaser, and
Seller acknowledges the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">same.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:180.3pt;margin-right:180.3pt;margin-top:4.5pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE V</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:180.3pt;margin-right:180.3pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">COVENANTS</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.1&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Access and</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Reports</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:6.0pt;margin-left:11.05pt;margin-right:12.75pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">To the extent permitted
by applicable Law and as may be reasonable in light of Contagion Event
Measures, from the date hereof until the earlier of the Closing Date and the
termination of this Agreement, Seller shall, and shall cause its Affiliates to,
provide to Purchaser and to Purchaser&#8217;s Representatives reasonable access upon
reasonable prior notice and request, during the Company and the Bank&#8217;s normal
business hours, to the officers, employees, properties, books, contracts and
records relating exclusively to the Company, the Bank and the Company&#8217;s other
Subsidiaries.&#160; Purchaser shall, and shall cause its Representatives to, conduct
its inspections and investigations under this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> in a manner
that will not unreasonably interfere with the conduct of the business of the
Company, the Bank or the Company&#8217;s other Subsidiaries. Notwithstanding the
foregoing, none of the Seller, the Company, the Bank or any other Company
Subsidiary shall be required to disclose any information where disclosure could
result in the loss of any legal privilege or contravene any Law or fiduciary
obligations, including those related to confidential supervisory information; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
that the parties shall use commercially reasonable efforts to make other
arrangements (including redacting information or making substitute disclosure
arrangements) that would enable such access or furnishing of information to
Purchaser to occur without contravening such privilege or applicable Law. All
information received pursuant to this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall be governed by
the terms of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">5.5</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.5pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Following the Closing,
to the extent permitted by applicable </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">Law, </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the
Seller may retain copies of books and records of the Company and the Company
Subsidiaries that will be transferred in connection with the Transactions and,
with respect to any books and records for which the Seller does not retain
copies, the Purchaser agrees to provide (or cause its Affiliates to provide)
the Seller with reasonable access to such books and records and other documents
that the Purchaser acquires pursuant to this Agreement and, to the extent
permitted</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by applicable Law and as
may be reasonable in light of Contagion Event Measures, reasonable access upon
reasonable prior notice and request, during normal business hours, to its
assets, properties and employees, in each case, to the extent that such access
is reasonably required by Seller or any of its Affiliates to (w) defend,
prosecute, appeal or cooperate with any judicial, arbitral or regulatory
proceeding, audit or investigation to which the Seller or any of its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Affiliates member is a party and which
relates to the </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">Company, </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the Bank or
any Company Subsidiary or otherwise to the business and affairs thereof prior
to the Closing, (x) prepare financial statements or regulatory filings of the
Seller in respect of periods ending on or prior to the Closing Date,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.1pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(y) comply with
the terms of this Agreement, any other Transaction Document, any applicable Law
or request of any Government Authority; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that all books,
records, information and materials of the Company and the Company Subsidiaries,
including customer lists (collectively, and together with any reports,
analyses, compilations, memoranda, notes and any other writings that contain,
reflect or are based upon such information, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Confidential Information</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;),
shall be subject to the confidentiality provisions of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.5</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and no
Confidential Information may be made available to Seller&#8217;s Representatives or
to any of Seller&#8217;s Affiliates or their respective Representatives unless such
Person agrees to maintain the confidentiality of the Confidential Information
pursuant to Section 5.5 (and, in any event, the Seller shall be liable for any
failure of such Affiliates or Representatives to act in accordance with Section
5.5); </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">further</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that neither the Purchaser nor any of
its Affiliates shall be required to provide such access to the extent that
doing so would result in the loss of any legal privilege or contravene any Law
or</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:6.0pt;margin-left:10.95pt;margin-right:12.2pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">fiduciary
obligations; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that the parties shall use commercially reasonable
efforts to make other arrangements (including redacting information or making
substitute disclosure arrangements) that would enable such access or furnishing
of information to the Seller to occur without contravening such privilege or
applicable Law. The Purchaser agrees to (or to cause its relevant Affiliates
(including the Company and the Bank after the Closing) to) retain and preserve
all books and records and all other documents that it or they acquire pursuant
to this Agreement, in compliance with all applicable Law.</font></p>

<p style="margin-bottom:6.0pt;margin-left:10.95pt;margin-right:12.5pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">At </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"> prior to Closing, to the extent that any
books and records of the Company and the Company Subsidiaries are in the
possession of Seller or any of its Affiliates (other than the Company and the
Company Subsidiaries) and not also in the possession of the Company or the
Company Subsidiaries, Seller shall, and shall cause its Affiliates to, use
reasonable best efforts to effect the physical and/or electronic transfer of
such books and records to the Company; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"> that if any such books
and records are not transferred to the Company on or prior to the Closing,
Seller and its Affiliates shall continue to use reasonable best efforts to
transfer such books and records to the Company following the Closing; and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">further</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">, that to the extent any such books and records contain material
that does not pertain or relate to the assets, liabilities, properties,
business, conduct, personnel and/or operations of the Company or its
Subsidiaries, such material may be redacted from such books and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">records.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:82.95pt;margin-right:0cm;margin-top:0cm;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.2&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Conduct of the Business</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:10.95pt;margin-right:13.2pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as (i) set forth
in Section 5.2(a) of the Seller&#8217;s Disclosure Schedule or (ii) as is necessary
and commercially reasonable in response to a Contagion Event or Contagion Event
Measures, subject to Seller providing Purchaser with advance notice and
obtaining Purchaser&#8217;s prior written consent in respect of any such action
(unless it is not reasonably practicable under the circumstances to provide
such prior notice and obtain prior consent, in which case the Seller shall
provide notice to Purchaser as soon as reasonably practicable), from the date
hereof until the earlier of the Closing Date or the termination of this
Agreement, the Seller shall cause the Company, the Bank and the Company&#8217;s other
Subsidiaries to (1) carry on (and maintain the books of account and records of)
their businesses in the ordinary course of business consistent with past
practice in accordance with GAAP; (2) use commercially reasonable efforts to
preserve their present business organizations and relationships; (3) use
commercially reasonable efforts to preserve the rights, franchises, goodwill
and relations of their customers, clients and others with whom business
relationships exist;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:10.95pt;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">(4) comply in all
material respects with all Laws applicable to the conduct of their business.</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:14.05pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as set forth in
Section 5.2(b) of the Seller&#8217;s Disclosure Schedule</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-2.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or to the extent required to effect the Carve-Out Transactions,
from the date hereof until the earlier of the Closing Date or the termination
of this Agreement, except as (A) otherwise expressly required by this
Agreement, (B) consented to in writing in advance by Purchaser (which consent
shall not be unreasonably withheld or delayed), or (C) required by applicable
Law, Seller shall not, and shall cause the Company, the Bank and the Company&#8217;s
other Subsidiaries (and, in the case of clause (xii), each of the Carve-Out
Entities until the date of the Carve-Out Transaction of such Carve-Out Entity)
not</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to:&nbsp;</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">45</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:12.3pt;margin-top:3.9pt;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">amend the Bank&#8217;s, the
Company&#8217;s or any of its other Subsidiaries&#8217; Constituent Documents or permit any
waiver or grant any consent under their respective Constituent Documents (other
than granting authorities or consents to Current Employees in the discharge of
their duties in the ordinary course of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">business);&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:17.1pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i) merge or
consolidate with any other Person, (ii) acquire (including by merger,
consolidation, or acquisition of stock or assets) any interest in any Person or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any division thereof or any assets,
securities or property, other than (A) acquisitions of securities under the
Company&#8217;s investment portfolio consistent with the Company&#8217;s investment policy
in effect as of the date hereof or (B) as may be deemed necessary or advisable
by it in the exercise of its rights in connection with an Extension of Credit,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:59.8pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">adopt a plan of
complete or partial liquidation, dissolution, recapitalization, restructuring
or other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">reorganization;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:13.6pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">issue, transfer, award,
grant or otherwise permit to become outstanding, or dispose of or encumber or
pledge, or authorize or propose the creation of, any additional Shares or
Rights or any additional shares of capital stock of the Company, Bank or any
other Company Subsidiary, or any Rights relating to the same, or for which the
Company, Bank or any other Company Subsidiary would have any liability, except
pursuant to the exercise of stock appreciation rights or stock options or the
settlement of equity compensation awards in respect of Seller capital stock in
accordance with their terms;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:13.35pt;margin-top:4.5pt;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">directly or indirectly
adjust, split, combine, redeem, reclassify, subdivide or otherwise amend the
terms of, purchase or otherwise acquire, any shares of its stock or debt securities
or any Rights related to the same, or declare or pay any dividend or make any
other distribution in respect of any of the Company&#8217;s capital</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">stock;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:14.65pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(v)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">pay, discharge, settle
or compromise any Action or threatened Action, other than any payments, discharges,
settlements or compromises in the ordinary course of business consistent with
past practice that (A) does not create negative precedent for other pending or
potential proceedings, actions or claims, and (B) does not involve monetary
damages or other settlement that would exceed $5,000,000, individually or in
the aggregate, in excess of reserves as they existed on September 30, 2020, (C)
does not involve injunctive relief or any other non-monetary relief (other than
other non-monetary relief in the ordinary course of business consistent with
past practice) or (D) relates to the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vi)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">make any new or renewed
Extension of Credit in an amount in excess</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:46.95pt;margin-right:10.15pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">$50,000,000 for
a commercial real estate loan or a commercial business loan (calculated based
on the new or renewed Extension of Credit, without aggregation with other
Extensions of Credit outstanding to the applicable borrower), except for such
(i) new Extensions of Credit that are currently pending approval as of the date
hereof or (ii) new Extensions of Credit under existing Extensions of Credit
issued prior to the date of this Agreement that have not yet expired, and which
in each of (i) and (ii) have been made in</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">46</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:47.0pt;margin-right:12.5pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">accordance with the Bank&#8217;s lending, underwriting and credit and risk
policies and procedures; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that, promptly following the date
hereof the parties shall agree on a process for seeking any approvals required
as a result of the foregoing covenant; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">further</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that,
at a minimum such process shall include an obligation on the part of Purchaser
to consent or provide written notice of objection to any such new or renewed
Extension of Credit in writing within two (2) Business Days from the date the
Company provided Purchaser with written notice of such new Extension of Credit
together with the related credit approval memo and other materials used by the
applicable Subsidiary of the Company for internal approval purposes (and any
failure to so respond shall be deemed to be consent to the applicable new or renewed
Extension of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Credit);&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:11.9pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(A) subject any
material asset of the Bank, the Company or of any of its other Subsidiaries to
a Lien or permit, allow or suffer to exist and Lien in respect thereof (other
than in connection with deposits, repurchase agreements, Federal Home Loan Bank
advances, bankers acceptances, &#8220;treasury tax and loan&#8221; accounts established in
the ordinary course of business and transactions in &#8220;federal funds&#8221; and the
satisfaction of legal requirements in the exercise of trust powers in the ordinary
course of business) other than Permitted Liens; (B) incur any Liability for
borrowed money (or guarantee any indebtedness for borrowed money), assume,
guarantee, endorse or otherwise as an accommodation become responsible for the
obligations of any other Person (other than a Company Subsidiary), or make any
Extension of Credit or capital contribution to, or investment in, any Person,
except (other than with respect to the Carve-Out Entities) in the ordinary
course of business consistent with past practice; or (C) dispose of any assets,
including without limitation existing branches of the Bank, except in the
ordinary course of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">business;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:14.0pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(viii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other than as required
by the terms of any Company Benefit Plan existing as of the date hereof, (A)
increase the compensation or benefits of any current or former directors,
officers, employees or other service providers of the Bank, the Company or its
other Subsidiaries, other than the payment of incentive compensation for
completed performance periods based upon corporate performance, the performance
of such employee and, if applicable, such employee&#8217;s business, in each case
determined in accordance with the terms of the applicable Company Benefit Plan
and in the ordinary course consistent with past practice, (B) enter into any
change-in-control, retention, employment, severance, termination or other
similar agreement or arrangement with any Person, or increase or commit to
increase the change-in-control, severance or termination pay or benefits
payable to any Person, (C) pay or award, or commit to pay or award, any bonuses
or incentive compensation to any Person other than payments contemplated by
clause (A) above, (D) enter into, establish, adopt, terminate or amend any
Company Benefit Plan or any plan, program, arrangement, practice or agreement
that would be a Company Benefit Plan if it were in existence on the date
hereof, except for de minimis administrative amendments that would not increase
the benefits provided thereunder, (E) take any action to amend or waive any
performance or vesting criteria or accelerate vesting, exercisability or
funding under any Company Benefit Plan, (F) hire</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:46.95pt;margin-right:12.85pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">employee classified at or above Grade 22, (G) terminate the
employment of any employee at or above Grade 22, other than for cause, or pay
any severance, termination pay or benefits to any employee without obtaining an
effective comprehensive general release of claims against the Company and its
Subsidiaries, (H) take any action to cause any employee who is employed by the
Company or any of its Subsidiaries to become a Carve-Out Employee or Other U.S.
Employee, or otherwise transfer such employee&#8217;s employment to Seller or any of
its Affiliates (other than the Company or any of its Subsidiaries), or take any
action to cause any Carve-Out Employee or Other U.S. Employee to become a
Current Employee, (I) effectuate or provide notice of any action that would
require notice or incur any liability or obligation under WARN, (J) enter into,
establish or adopt any collective bargaining or similar agreement with any
union, works council or other labor organization, or (K) fund or provide any
funding for any rabbi trust or similar</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">arrangement;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:20.3pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ix)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other than the capital
expenditures pre-approved by Purchaser in writing, undertake or authorize any
capital expenditures not required pursuant to Contracts in effect on the date
hereof that are, in the aggregate, in excess of $5,000,000 per annum, other
than capital expenditures necessary for safety and soundness</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">purposes;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:23.65pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(x)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">change any method of
financial accounting or accounting practice or policy), except as may be
required from time to time by GAAP (without regard to any optional early
adoption date) or any Governmental Authority responsible for regulating the
Company or any of its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:33.2pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xi)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">except in the ordinary
course of business consistent with past practice, sell, assign or transfer any
of its material Intellectual</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Property;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:32.0pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(A) make, change or
revoke any material Tax election, (B) change any material method of Tax
accounting, (C) change any material Taxable year or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">period,&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:47.0pt;margin-right:11.95pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(D) enter into
any material closing agreement with respect to Taxes, (E) file any material
amended Tax Return, (F) settle or compromise any material Tax claim or
assessment, (G) surrender any material claim for a refund of Taxes or (H) take
any other action outside the ordinary course of business consistent with past
practice that would reasonably be expected to (i) increase by a material amount
Purchaser Indemnified Taxes or Taxes imposed on Purchaser (or any of its
Subsidiaries) or (ii) reduce by a material amount any Tax attribute of the
Company or any of its Subsidiaries in any Purchaser Tax Period or Purchaser (or
any of its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries);&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:13.05pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xiii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">make application for
the opening, relocation or closing of any, or open, relocate or close any,
branch or automated banking facility, other than those pending as of the date
of this Agreement and set forth in Section 5.2(b)(xiii) of the Seller&#8217;s
Disclosure Schedule, or permit the revocation or surrender by any Subsidiary of
the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Bank of its certificate of
authority to maintain any such facility, except as may be required by any
Governmental</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Authority;&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:17.65pt;margin-top:3.9pt;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xiv)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">enter into any new line
of business or change in any material respect its lending, underwriting, risk and
asset liability management and other banking, operating, and servicing
policies, except (i) as required by applicable Law, (ii) as otherwise may be
requested by a Governmental Authority or (iii) as necessary for safety and
soundness purposes;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:12.5pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xv)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">except in the ordinary
course of business, (A) amend, modify or change any investment practices of the
Company or any of its Subsidiaries or (B) make any change in any material
respect to the investment portfolio of the Company or any of its Subsidiaries
in terms of duration, credit, quality or type of interests, except as required
by applicable</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Law;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:11.6pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xvi)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(A) materially amend,
waive, modify or consent to the termination of (1) any Material Contract (or
any Contract that would be a Material Contract but for the exception of being
filed as exhibits to the Company SEC Reports) of the type specified in</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
Section 3.7(a)(iii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(x)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xii)&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xiv)&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
or (2) any other Material Contract (or any Contract that would be a Material
Contract but for the exception of being filed as exhibits to the Company SEC
Reports) except, in the case of this clause (2), in the ordinary course of
business consistent with past practice, (B) enter into (x) any new Material
Contract (or any Contract that would be a Material Contract but for the
exception of being filed as exhibits to the Company SEC Reports) of the type
specified in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.7(a)(iii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,&nbsp;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (x)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xii)&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
or </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xiv)&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or (y) any other Material Contract except, in the case of this
clause (y), in the ordinary course of business consistent with past practice,
or (C) enter into any Contract (or any Contract that would be a Material
Contract but for the exception of being filed as exhibits to the Company SEC
Reports) with any Affiliate or, other than in the ordinary course of business
consistent with past practice, engage in any transaction with any Affiliate
(other than solely by and among the Company and the Company Subsidiaries);</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:18.65pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xvii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">knowingly take any
action (including a business acquisition, sale or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other strategic transaction) that, or fail to take any action
if such failure, would reasonably be expected to prevent, materially impede or
materially delay the consummation of the Transactions, or impair the Seller&#8217;s
ability to perform its obligations under this Agreement or consummate the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:14.95pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xviii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">knowingly take any action that is intended
or reasonably likely to result in any of the conditions set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Article
VI</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> not being satisfied;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:63.2pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(xix)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">authorize, announce an
intention, or enter into any agreement or commitment with respect to any of the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">foregoing.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:16.7pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">During the period
through the Closing Date or earlier termination of this Agreement, except as
(A) otherwise expressly contemplated by this the Transaction</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Documents,&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:47.6pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(B)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">consented to in writing
in advance by Seller (which consent shall not be unreasonably withheld or
delayed), or (C) required by applicable Law, Purchaser shall</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">not:&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:19.55pt;margin-top:3.9pt;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">amend the Constituent
Documents of Purchaser or any of its Subsidiaries in a manner that would impair
Purchaser&#8217;s ability to perform its obligations under the Transaction Documents
or consummate the Transactions on a timely</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">basis;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:18.65pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">knowingly take any
action (including a business acquisition, sale or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other strategic transaction) that, or fail to take any action
if such failure, would reasonably be expected to prevent, materially impede or
materially delay the consummation of the Transactions Agreement, or impair
Purchaser&#8217;s ability to perform its obligations under this Agreement or
consummate the transactions contemplated</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereby;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:14.95pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">knowingly take any
action that is intended or reasonably likely to result in any of the conditions
set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Article VI</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> not being satisfied;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:36.9pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">authorize, announce an
intention, or enter into any formal or informal agreement or commitment with
respect to any of the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">foregoing.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.3&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Efforts;
Regulatory Filings and Other</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.5pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Actions</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.45pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">During the period from
the date hereof continuing through the Closing, the Seller and the Purchaser
and their respective Subsidiaries shall cooperate and use their reasonable best
efforts to take, or cause to be taken, all actions and to do, or cause to be
done, all things necessary, proper or advisable to consummate and make
effective as promptly as practicable the Transactions and to cooperate with the
other party in connection with the foregoing, including, without limitation, to
prepare as promptly as practicable all documentation, to make all filings and
to obtain all consents, approvals, waivers, Permits and other authorizations of
all Governmental Authorities required to consummate the Transactions, including
those described in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Annex A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> attached hereto (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Requisite Regulatory
Approvals</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), and shall make all necessary filings in respect of the
Requisite Regulatory Approvals of foreign, federal and state banking
authorities relating to the Transactions as promptly as practicable, but in any
event within forty-five (45) days of the date of this Agreement, and shall make
all other necessary filings in respect of the Requisite Regulatory Approvals as
promptly as practicable. In furtherance of the foregoing, the Purchaser and its
Affiliates shall take or commit to take any and all actions and agree to any
conditions or restrictions imposed by any Governmental Authority as may be
reasonably necessary in order to obtain the foregoing Requisite Regulatory
Approvals;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that notwithstanding any other
provision of this Agreement that may be to the contrary, Purchaser shall not be
required to take any action, or commit to take any action, or agree to any
condition or restriction, that would, individually or in the aggregate, result
in a Purchaser Material Adverse Effect (measured on a pro forma combined basis
giving effect to the Transactions).</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.85pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each party shall,
subject to applicable Law, (i) permit counsel for the other party to review in
advance any proposed filing, application, correspondence or other written
communication to any Governmental Authority in connection with the
Transactions, (ii) consider in good faith the views of the other party or its
counsel with respect to any such filing, application, correspondence or other
written communication, and (ii) provide counsel for</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.5pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other party with copies of all filings, applications or other
written submissions made by such party, and all material correspondence between
such party (and its advisors) with any Governmental Authority and any other
information supplied by such party and such party&#8217;s Affiliates to a
Governmental Authority or received from such a Governmental Authority in
connection with the Transactions, in each case in such a manner as may be
reasonable under the circumstances during a Contagion Event; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
that materials may be excluded or redacted as necessary (A) to comply with
applicable Law, or (B) to address reasonable privilege or confidentiality
concerns. Each party agrees that it will use reasonable best efforts to (1)
keep the other party fully informed with respect to all applications and change
in control notices to Governmental Authorities and developments related thereto,
and (2) give the other party reasonable advance notice of, and except as may be
impermissible due to the anticipated discussion of a party&#8217;s confidential
supervisory information, invite the other party to participate in, any meetings
or discussions held with any Governmental Authority (other than routine or
local supervisory team meetings or discussions) concerning such applications or
change in control notices (and give due consideration in good faith to any
reasonable request of the other party with respect to any such participation); </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
that such participation is not objected to by such Governmental Authority. The
parties covenant and agree not to extend any waiting period associated with any
Requisite Regulatory Approval or enter into any agreement with any Governmental
Authority not to consummate the Transactions, except with the prior written
consent of the other party hereto.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:20.3pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The parties further
covenant and agree that (i) with respect to any threatened or pending
preliminary or permanent Government Order that would adversely affect the
ability of the parties hereto to consummate the Transactions, to use their
respective reasonable best efforts to prevent the entry, enactment or
promulgation thereof, as the case may be, and (ii) in the event that any Action
is commenced after the date hereof challenging any of the parties&#8217; rights to
consummate the Transactions, the parties shall use their reasonable best
efforts, and take all reasonable actions necessary and appropriate, to contest
such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Action.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:14.6pt;margin-top:0cm;text-align:justify;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each party represents,
warrants and agrees that any information furnished by it for inclusion in any
regulatory application will to its Knowledge be true and complete in all
material respects as of the date so</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">furnished.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:21.55pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller shall, and shall
cause its Affiliates (including the Company and its Subsidiaries) to, use
reasonable best efforts to obtain all Third Party Consents as soon as
practicable.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.7pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.4&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notice
of Changes</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. To the extent permitted by applicable
Law, each party hereto shall keep the other party apprised of the status of
matters relating to the consummation of the Transactions, including promptly
furnishing the other with copies of any material notices or other
communications received by such party or, to the Knowledge of such party, its
Representatives from any third party or any Governmental Authority with respect
to the consummation of the Transactions. Each party shall give prompt notice to
the other party of any development or combination of developments that,
individually or in the aggregate, is</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">reasonably
likely to (i) cause it to fail to comply with or satisfy in any material
respect any</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">covenant,&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.9pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">condition or agreement under this Agreement or (ii) prevent,
materially delay or materially impair its ability to consummate the
Transactions; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that no such notification shall
affect the representations, warranties, covenants or agreements of the parties,
the conditions to the obligations of the parties under this Agreement or any
remedies for any breach of the representations, warranties, covenants or
agreements herein. Each party shall give prompt notice to the other party of
any fact, event or circumstance known to it that is reasonably likely,
individually or taken together with all other facts, events and circumstances
known to it, (x) with respect to Seller, the Company or any of its
Subsidiaries, (A) to result in any Material Adverse Effect, (B) to result in a
breach of any of Seller&#8217;s representations or warranties herein either on such
date or on the Closing Date or any of their covenants hereunder; (C) result in
the failure of the satisfaction of the conditions to Closing or make the
satisfaction of any of the foregoing impossible or unlikely; or (D) to prevent,
materially delay or materially impair the ability of Seller, the Company or any
of its Subsidiaries to consummate the Transactions; and (y) with respect to
Purchaser, (A) to prevent, materially delay or materially impair the ability of
Purchaser to consummate the Transactions; (B) to result in a breach of any of
Purchaser&#8217;s representations or warranties herein either on such date or on the
Closing Date or any of its covenants hereunder; or (C) result in the failure of
the satisfaction of the conditions to Closing or make the satisfaction of any
of the foregoing impossible or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">unlikely.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.3pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.5&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Confidentiality</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Each of Seller and Purchaser acknowledges that the information
provided to it, its Affiliates or their Representatives (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Receiving
Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) by the other party, such party&#8217;s Affiliates or their
Representatives (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Disclosing Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) prior to the Effective Time in
connection with this Agreement is subject to the Confidentiality Agreement. As
of the Effective Time, the Confidentiality Agreement shall terminate. Following
the Effective Time, all confidential information relating to the Disclosing
Party and its Affiliates which was provided or conveyed to or obtained by
Receiving Party in accordance with the Confidentiality Agreement and any other
information that the Disclosing Party furnished or furnish to the Receiving
Party, or that the Bank, the Company and its Subsidiaries have maintained after
the Closing or that the Seller or any of its Affiliates retains or receives
pursuant to Section 5.1, including any technical, scientific, trade secret or
other proprietary information of a Disclosing Party (including the Company and
its Subsidiaries) with which the Receiving Party came or comes into contact in
the course of the negotiation and consummation of the Transactions or retains
or receives pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, whether before or after the date of
the Confidentiality Agreement, together with any reports, analyses,
compilations, memoranda, notes and any other writings prepared by a Disclosing
Party that contain, reflect or are based upon such information, shall be and
continue to be kept confidential by the Receiving Party for a period of two (2)
years following the Closing Date, except (i) pursuant to a Government Order, as
required in any Action, or as otherwise required by applicable Law or
administrative process (in which case the Receiving Party shall provide the
Disclosing Party prompt notice thereof to the extent legally permissible and
practical and shall cooperate with the Disclosing Party so that the Disclosing
Party may seek a protective order or other appropriate remedy); (ii) for
information that is or becomes generally available to the public other than as
a result of a breach of this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.5</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or the Confidentiality
Agreement; and (iii) to the extent that such information is or has become known
to the Person receiving such information on a non-confidential basis from</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">a&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.5pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">source who to the Knowledge of such Receiving Party is not breaching
any contractual, legal or fiduciary obligation by making such disclosure (in
the case of information relating to the Company or the Company Subsidiaries,
this clause (iii) shall apply only to the extent that the Seller comes to know
such information after the Closing Date), and such Receiving Party shall not
use, and shall cause its Affiliates not to use, the information described in
this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.5</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> in connection with the conduct of its or its
Affiliates&#8217; businesses or for any other purpose, except as required for
financial or tax reporting or by applicable Law or as necessary to enforce the
Receiving Party&#8217;s or the Bank&#8217;s, the Company&#8217;s and its other Subsidiaries&#8217;
(following the Closing) rights and remedies under this Agreement or the other
Transaction Documents; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that following the
Closing, the Purchaser shall be deemed to be the Disclosing Party, and the
Seller shall be deemed to be the Receiving Party, for purposes of all
information of or relating to the Company and its Subsidiaries.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.7pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.6&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Publicity</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. During the period from the date of this Agreement continuing
through the Closing, Purchaser and Seller shall, and shall cause their
respective Affiliates to, consult with each other before issuing any press
release or public statement or making any other public disclosure (including
any broad-based employee communication) related to this Agreement and the
Transactions and shall not issue any such press release or public statement or
make any other such public disclosure without the prior written consent of
Purchaser or Seller, as the case may be, which shall not be unreasonably
withheld or delayed; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that nothing in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.6</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
shall be deemed to prohibit Purchaser or Seller or any</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of their respective Affiliates from making any disclosure
necessary in order to satisfy its disclosure obligations imposed by applicable
Law or any stock exchange or self-regulatory organization so long as it makes a
good faith attempt to provide the other party with prior notice of any such
disclosure and address any comments or concerns raised by the other party in
good faith. In addition to the foregoing, Purchaser and Seller shall not, and
shall cause their respective Affiliates not to, issue any press release or
otherwise make any public statement or disclosure concerning Seller and its
Affiliates or Purchaser and its Affiliates, as the case may be, or their
respective business, financial condition or results of operations without the
consent of Purchaser or Seller, as the case may be, which consent shall not be
unreasonably withheld or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">delayed.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Non-Compete;&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Non-Solicitation</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.0pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">During the period
beginning on the Closing Date and ending on the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">second (2<sup>nd</sup>) anniversary thereof (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Non-Compete
Term</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), Seller and its controlled Affiliates shall not, directly or
indirectly, own an equity interest in, or manage, operate or control, any
Person engaged in the Retail Banking Business in the Restricted Territory (a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Competing
Retail Banking</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Business</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:18.55pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding the
foregoing, nothing in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall prohibit or in any way</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">limit:&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:29.65pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the provision of
services or products by any Person other than Seller</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or any of its controlled</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Affiliates;&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:17.35pt;margin-top:3.9pt;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the provision of
services or products by Seller or any of its Affiliates, directly or through
trading platforms, to (1) Non-U.S. Clients; (2) Large Corporate Entities; (3)
Institutional Entities; (4) Project Finance Clients and (5) JV Clients (each</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of the foregoing being referred to herein
as the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Excluded&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Customers</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;);&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:13.6pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the participation by
Seller or any of its Affiliates in transactional banking services with Excluded
Customers (which for avoidance of doubt, shall include financing to any
Excluded Customer&#8217;s U.S. Person suppliers or clients to the extent that such
financing is granted under the terms of the program entered into with Excluded
Customers);</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:11.7pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PV (or any successor
entity thereto or future Subsidiary thereof) from making investments in the
types of companies in which PV is invested on the date hereof, consistent with
the nature and size of such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">investments;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:15.65pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(v)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller or any of its
Affiliates from acquiring, owning or holding up to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">five percent (5%) of the outstanding securities of an entity whose
securities are listed and traded on a nationally recognized securities exchange
or market, whether or not in</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:46.95pt;margin-right:11.0pt;margin-top:0cm;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">U.S. or holding or exercising rights of ownership with respect to a
security in a fiduciary, custodial or agency capacity or otherwise for the
benefit of or on behalf of clients or other unaffiliated beneficiaries; or</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:15.65pt;margin-top:0cm;text-indent:36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vi)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"> or any of its Affiliates from, directly or indirectly, (1) owning
up to five percent (5%) of the outstanding voting stock of any Person that
engages in a Competing Retail Banking Business, (2) acquiring (whether by
merger, consolidation or otherwise) a Person that operates a Competing Retail
Banking Business in the Restricted Territory if such Competing Retail Banking
Business represents no more than ten (10%) of such Person&#8217;s business (measured,
for purposes of this clause (v)(2), based on the percentage of total assets by
the Competing Retail Banking Business in the Restricted Territory relative to
the overall consolidated total assets of the Person acquired for the twelve
(12) month period preceding the most recent fiscal quarter prior to the date of
entering into the agreement providing for the applicable acquisition), or (3)
being acquired by an unaffiliated Person that engages in a Competing Retail
Banking Business (whether by merger, consolidation or otherwise, but where, for
the avoidance of doubt, the equity owners (as of immediately prior to the
acquisition) of the Person acquiring the Seller or any of its Affiliates, will
own a majority of the outstanding equity securities of the combined or
resulting Person or its ultimate parent company (as of immediately after the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">acquisition)).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:13.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">During the Non-Compete
Term, Seller and its controlled Affiliates shall not, directly or indirectly,
solicit any Person for financial products or services in the Restricted
Territory or enter into any agreement to provide, or provide, any such products
or services to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any such Person in
the Restricted Territory; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, however, nothing in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.7(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall in any way prohibit or limit solicitation activities in
connection with the permissible activities or products of Seller or any of its
Affiliates set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">5.7(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:22.85pt;margin-top:3.9pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Following the Closing,
Seller shall not, and Seller shall cause its controlled Affiliates not to, use
any customer lists or other proprietary customer information of the Company or
any of its Subsidiaries in connection with the operation of their businesses
(excluding, for the avoidance of doubt, any proprietary customer information
relating to the Excluded</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Customers).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:27.9pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">For the avoidance of
doubt, subject to the restrictions imposed by applicable subsections of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.7(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall not apply to any controlled Affiliate
if the Seller ceases to control, directly or indirectly, such Affiliate or if
such Affiliate sells all or substantially all of its assets to an unaffiliated
third</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">party.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.85pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(f)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">If any provision
contained in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall for any reason be held invalid,
illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provisions of this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
but </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall be construed as if such invalid, illegal or
unenforceable provision had never been contained herein. It is the intention of
the parties that if any of the restrictions or covenants contained in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> are held to cover a geographic area or to be for a length of time which
is not permitted by applicable Law, or in any way construed to be too broad or
to any extent invalid, such provision shall not be construed to be null, void
and of no effect, but to the extent such provision would be valid or
enforceable under applicable Law, a court of competent jurisdiction shall
construe and interpret or reform this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> to provide for a
covenant having the maximum enforceable geographical area, time period and
other provisions (not greater than those contained herein) as shall be valid
and enforceable under such applicable</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Law.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:17.05pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(g)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Nothing in this
Agreement shall require any party or any of its Subsidiaries to terminate any
instruments, accounts or agreements of or with any customer or client in effect
as of the date hereof, or prohibit or otherwise limit any of them from either
accepting or making deposits and withdrawals to and from such accounts or
performing their respective binding obligations in effect on the date hereof
and as of the Closing Date under such instruments or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">agreements.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:26.4pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.8&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Employee
Non-Solicitation</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. During the period beginning on
the Closing Date and ending on the date that is twelve (12) months after the
Closing</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Date:&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.0pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">neither Seller nor any
of its controlled Affiliates shall, directly or indirectly, solicit for
employment or employ any Current Employee; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
that nothing herein shall prohibit Seller or any of its Affiliates from
repatriating or otherwise relocating any employees of Seller or any of its
Affiliates located in the U.S., including any Current Employee who is an
expatriate and, in his or her sole discretion, exercises the right under his or
her employment agreement to be repatriated or relocated by Seller in the event
of a change of control at the Company, Bank or other Company Subsidiary, as
applicable; and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,&nbsp;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> further</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that nothing herein shall be
deemed to prohibit any of Seller or its controlled Affiliates (or any of their
controlled Affiliates) from conducting any general solicitation or general
recruitment effort conducted by a third party and not targeted at any such
Current Employees or prohibit the solicitation or employment of any Current
Employee that (1) was terminated</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by&nbsp;</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:17.4pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser or any of its Affiliates (including, after Closing, the
Company, the Bank and Company&#8217;s other Subsidiaries), or (2) voluntarily
resigned from the employ of Purchaser or any of its Affiliates after the
Closing (including, after Closing, the Company, the Bank and Company&#8217;s other
Subsidiaries) and has not been employed by Purchaser or any of its Affiliates
for at least three (3) months prior to the date of such employment; and</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:12.85pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">neither Purchaser nor
any of its controlled Affiliates (including, after Closing, the Company, the
Bank and Company&#8217;s other Subsidiaries)) shall, directly or indirectly, solicit
for employment any employee of Seller or any of its controlled Affiliates (including
the Carve-Out Employees) with which Purchaser or any of its controlled
Affiliates was made aware of, or came into contact with, in connection with the
Transactions; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that nothing herein shall be
deemed to prohibit any of Purchaser or any of its controlled Affiliates from
conducting any general solicitation or general recruitment effort conducted by
a third party and not specifically targeted at any such employee of Seller or
its controlled Affiliates (including the Carve-Out Employees) or prohibit the
solicitation or employment of any such employee</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">that&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.7pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(1)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">was terminated by
Seller or any of its Affiliates, or (2) voluntarily resigned from the employ of
Seller or any of its Affiliates and has not been employed by Seller or any of
its Affiliates for</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">at least three (3)
months prior to the date of such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">employment.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Taxes</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:155.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnification</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. From and after the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Closing,&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:82.95pt;margin-right:10.85pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller and its
Affiliates (other than the Company and its Subsidiaries) shall pay or cause to
be paid and hereby agree to indemnify and hold the Purchaser Indemnified
Parties harmless from and against any Excluded</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Taxes.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:83.0pt;margin-right:12.2pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser shall pay or
cause to be paid and hereby agrees to indemnify and hold Seller and its
Affiliates harmless from and against any Purchaser Indemnified Taxes. Seller
shall be entitled to any refunds of Taxes (whether in the form of cash received
or a credit against Taxes otherwise payable) received by the Company or any of
its Subsidiaries in respect of the Seller Tax Period, except to the extent the
entitlement to such refund (A) was reflected as an asset in the Company&#8217;s
Quarterly Report filed on Form 10-Q with the SEC for the quarter ended
September 30, 2020 or (B) arises as a result of a carryback to any Seller Tax
Period of any net operating loss, capital loss or other Tax attribute arising
in a Purchaser Tax Period (or, in the event of a Straddle Period, the netting
of such Tax attributes arising in a Purchaser Tax Period against income or gain
arising in a Seller Tax</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Period).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:83.0pt;margin-right:19.95pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In the case of any
Taxes that are payable for a Straddle Period, the portion of such Tax that
relates to the portion of such taxable period ending on the date hereof shall
(A) in the case of any Taxes not based on net income or on receipts, be deemed
to be the amount of such Tax for the entire Straddle Period </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">multiplied by</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
a fraction the numerator of which is the number</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:6.0pt;margin-left:83.05pt;margin-right:13.55pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">days in
the Straddle Period ending on the date hereof and the denominator of which is
the number of days in the entire Straddle Period and (B) in the case of any
Taxes based on net income or on receipts (e.g., sales and use Taxes), be deemed
equal to the amount which would be payable if the relevant taxable period ended
on the date hereof. To the extent any income of the Company or any of its
Subsidiaries is attributable to an interest in an entity or arrangement
classified as a partnership or other &#8220;flow-through&#8221; entity for Tax purposes,
such entity or arrangement shall be treated for purposes of this Agreement as
if its taxable year ended on the date hereof and Taxes attributable to the
income and gain of each such entity through the date hereof shall be considered
to be attributable to the portion of the taxable period ending on the date</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereof.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:83.05pt;margin-right:11.55pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No later than two (2)
days prior to the due date (taking into account extensions) for filing the
consolidated U.S. federal income Tax Return of Purchaser for the taxable period
that includes the Closing Date, Purchaser shall pay to Seller an amount equal
to the Company Transaction Expenses Tax Benefit. Notwithstanding anything to
the contrary in Section 5.9, Purchaser shall not be required to claim (or cause
the Company to claim) any deduction in respect of any particular Company
Transaction Expense unless Purchaser reasonably determines that the
deductibility of such Company Transaction Expense is at least &#8220;more likely than
not&#8221; to be sustained on the merits. In the event that, as a result of the
resolution of any audit or Tax Proceeding, any deduction claimed by Purchaser
or the Company in respect of Company Transaction Expenses for which Purchaser
made a payment pursuant to this clause (iv) is subsequently required to be
capitalized or otherwise disallowed, Seller shall promptly repay to Purchaser
the portion of the Company Transaction Expenses Tax Benefits attributable to
such disallowed deduction, together with any interest, penalties, or additional
amounts imposed by a Taxing Authority on Purchaser or the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:83.05pt;margin-right:16.0pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(v)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No later than two (2)
Business Days prior to the due date (taking into account extensions) for filing
the consolidated U.S. federal income Tax Return of the Company for the taxable
period that ends on the Closing Date, Seller shall pay to Purchaser an amount
equal to the Purchaser Tax Period Carve- Out Entity Taxes. In the event that,
as a result of the resolution of any audit or Tax Proceeding, the amount of
Purchaser Tax Period Carve-Out Entity Taxes would be increased or decreased,
Seller or Purchaser shall promptly make adjusting payments, together with any
interest, penalties, or additional amounts imposed by a Taxing Authority on
Purchaser or the Company in respect of such audit or Tax Proceeding
attributable to the Carve-Out</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Entities.&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:83.05pt;margin-right:24.45pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vi)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">For the avoidance of
doubt, no Person shall be entitled to recover more than once with respect to
the same amount (i.e. no double- counting).</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:11.6pt;margin-top:3.9pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Tax Returns</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Seller shall, at its own expense, be
responsible for preparing and filing (i) all Tax Returns of the Company and its
Subsidiaries (including, for this purpose, the Carve-Out Entities) for all
periods ending on or prior to the Closing Date that are required to be filed on
or prior to the Closing Date (taking into account any applicable extensions) (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company
Tax Returns</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) and (ii) all Tax Returns that include the Company or any of
its Subsidiaries, on the one hand, and Seller or any of its Affiliates other
than the Company and its Subsidiaries or the Carve-Out Entities, on the other
hand (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Combined Tax Returns</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; and, together with the Company Tax Returns,
&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller Tax Returns</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;). All Seller Tax Returns shall be prepared on a
basis consistent with the past practices of Seller or its applicable Affiliate
except to the extent (i) failure to do so would not adversely affect Purchaser
or any of its Affiliates (including the Company and its Subsidiaries) or (ii)
otherwise required by a change in Law. Seller shall deliver, or cause to be
delivered, to Purchaser each Seller Tax Return (or in the case of any Combined
Tax Returns, the relevant portions thereof) at least thirty (30) calendar days
prior to the due date thereof (taking into account any extensions thereof) and
shall reflect on the filed return any reasonable comments received from
Purchaser in writing within twenty (20) calendar days following the date such
Tax Returns are delivered by Seller to Purchaser. Seller shall file or cause to
be filed all Seller Tax Returns and shall pay or cause to be paid any Taxes
shown as due on such Seller Tax Returns.&#160; Purchaser shall prepare and file all
Tax Returns of the Company and its Subsidiaries that are not Seller Tax Returns
(&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser Tax Returns</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), including, any consolidated federal income
Tax Return of the Company and its Subsidiaries (including, for this purpose,
the Carve-Out Entities) for periods ending on or prior to the Closing Date that
are required to be filed after the Closing Date (taking into account any
applicable extensions) and pay or cause to be paid any Taxes shown as due on
such Tax Returns (subject to Purchaser&#8217;s right to indemnification for Excluded
Taxes and payment for Purchaser Tax Period Carve-Out Entity Taxes).
Notwithstanding anything to the contrary herein, Purchaser shall have no
obligation to prepare or file any Tax Return for any Carve-Out Entities for any
taxable period (or portion thereof) beginning after the date of the Carve-Out
Transaction of such Carve-Out Entity. Purchaser Tax Returns for any Seller Tax
Period or Straddle Period shall be prepared in a manner consistent with the
past practices of the relevant entity except to the extent (i) failure to do so
would not adversely affect Seller or any of its Affiliates (including the
Company and its Subsidiaries), (ii) otherwise required by a change in Law, or
(iii) Purchaser reasonably determines that there is not at least &#8220;substantial
authority&#8221; for a material position reflected on such Tax Return, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
that Purchaser shall provide Seller at least twenty (20) days to provide a
written tax opinion, in form and substance reasonably acceptable to Seller, of
a nationally recognized law firm or accounting firm experienced in Tax matters,
concluding that there is at least &#8220;substantial authority&#8221; (as defined under
Section 6662 of the Code (or successor provisions thereof)) for such position,
and Purchaser agrees notwithstanding the provisions of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> to
file such Tax Return in a manner consistent with such written tax opinion. No
later than two (2) Business Days prior to the due date (taking into account
extensions) for Purchaser filing any Tax Return pursuant to this Section
5.9(b), Seller shall, or shall cause its Affiliates to, pay to Purchaser an
amount equal to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:47.0pt;margin-right:19.55pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Excluded Taxes shown as due and payable with respect to such Tax
Return. Notwithstanding anything to the contrary herein, except to the extent
otherwise required pursuant to the resolution of any audit or Tax proceeding,
neither Purchaser nor Seller shall take any Tax reporting position inconsistent
with the fair market value of each Carve-Out Entity as used for purposes of
calculating the payment pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">2.2(c)(i)(A)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:11.25pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller Review of Tax
Returns</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. With respect to
any Purchaser Tax Return reflecting more than a </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">de minimis </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">amount of
Excluded Taxes, Purchaser shall provide Seller with copies of such Tax Return
promptly after Purchaser has prepared such Tax Return but in no event later
than thirty (30) calendar days prior to the due date (taking into account
extensions) for filing such Tax Return, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that in the case of
any Tax Return required to be filed on a monthly basis, Purchaser shall provide
Seller with copies of such Tax Return reasonably in advance of the due date
therefor. If Seller disputes any items shown on any such Tax Return affecting
Excluded Taxes, Seller shall notify Purchaser within twenty (20) calendar days
after receiving such Tax Return. Purchaser and Seller shall negotiate in good
faith and use commercially reasonable efforts to resolve any disputed items
prior to the due date (taking into account extensions) for filing such Tax
Return. In the event that Purchaser and Seller are unable to resolve any
disputed items prior to the due date for filing such Tax Return, (i) Purchaser
shall be permitted to file such Tax Return reflecting Purchaser&#8217;s position with
respect to any disputed items, (ii) as promptly as practicable following the filing
of such Tax Return, Seller and Purchaser shall cause a mutually selected
independent accounting firm to resolve such dispute (the costs and expenses of
which shall be borne equally by the parties), and (iii) to the extent
necessary, Purchaser shall file an amended Tax Return to reflect the resolution
of such disputed items by the independent accounting firm. No later than two
(2) Business Days prior to the due date (taking into account extensions) for
Purchaser filing any Tax Return pursuant to this Section 5.9(c), Seller shall,
or shall cause its Affiliates to, pay to Purchaser an amount equal to any
Excluded Taxes shown as due and payable with respect to such Tax</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Return.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:11.6pt;margin-top:.05pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transfer Taxes</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. All Transfer Taxes shall be borne and
paid fifty percent (50%) by Purchaser, on the one hand, and fifty percent (50%)
by Seller, on the other hand. The party responsible under applicable Law for
filing the Tax Returns with respect to such Transfer Taxes shall prepare and
timely file such Tax Returns and promptly provide a copy of such Tax Returns to
the other party. Purchaser and Seller shall, and shall cause their respective
Affiliates to, reasonably cooperate to timely prepare and file any Tax Returns
or other filings relating to such Transfer Taxes, including any claim for
exemption or exclusion from the application or imposition of any Transfer
Taxes.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:11.85pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</font><font color=#010000 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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Tax Sharing
Agreements</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Effective as
of no later than the Closing, any and all Tax sharing or allocation agreements
or arrangements to which the Company or any of its Subsidiaries is a party
(other than any customary Tax</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">indemnification&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:46.95pt;margin-right:22.45pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provisions contained in commercial Contracts not primarily related
to Taxes (such as financing Contracts with Tax gross-up obligations or leases
with Tax escalation provisions)) shall be terminated, such that none of
Purchaser or any of its Affiliates (including, after the Closing, the Company
and its Subsidiaries) shall have any further liability thereunder; provided,
that, as promptly as practicable following the Closing, Seller shall cause any
amounts owing by BBVA (as defined in the Tax Sharing Agreement, dated August 1,
2014 to which it is a party) for taxable periods (or portions thereof) ending
on or prior to the Closing Date to be paid in full.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:21.5pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(f)</font><font color=#010000 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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Timing of Indemnity
Payments</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as
otherwise provided in Section 5.9(a), </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.9(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, any payment required to be made pursuant to this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
shall be made within ten (10) days after Purchaser makes written demand upon
Seller (but, in the case of any payment required to be made to a Taxing
Authority, shall not be required to be made sooner than two (2) Business Days
prior to the due date</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">thereof).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:155.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(g)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Cooperation in Tax</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Proceedings</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:83.0pt;margin-right:16.05pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser and Seller
will cooperate fully, as and to the extent reasonably requested by the other
party, in connection with the filing of Tax Returns of, and any Tax Proceeding
relating to the Company or any of its Subsidiaries (including, for this
purpose, the Carve-Out Entities). Cooperation includes (A) the retention and
(at the other party&#8217;s request) the provision of records and information in such
party&#8217;s possession that are reasonably relevant</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to the filing of any such Tax Returns or Tax Proceeding and
(B) making employees available on a mutually convenient basis to provide
additional information and explanation of any material provided under this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">5.9(g)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:82.95pt;margin-right:10.85pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each of Seller and
Purchaser agree (A) to retain all books and records of the Company and its
Subsidiaries (including, for this purpose, the Carve-Out Entities) with respect
to Tax matters pertinent to the Company and its Subsidiaries (including, for
this purpose, the Carve-Out Entities) relating to any taxable period beginning
before the Closing Date until the expiration of the statute of limitations (and
any extensions thereof) of the respective taxable</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">periods,&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;margin-right:12.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(B) to abide by
all record retention agreements entered into with any Governmental Authority
and (C) to give the other party reasonable written notice before transferring,
destroying or discarding any books and records and, if the other party so
requests, allow such other party to take possession of the books and records.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:82.95pt;margin-right:12.6pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser and Seller
further agree, and agree to cause their respective Affiliates, to, upon
request, use commercially reasonable efforts to obtain any certificate or other
document from any Governmental Authority or customer of the Company or any of
its Subsidiaries or any other Person as may</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">be&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:44.1pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">reasonably necessary to mitigate, reduce or eliminate any Tax that
could be imposed with respect to the transactions contemplated hereby.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:82.95pt;margin-right:11.25pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Without limiting the
foregoing provisions of this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(g)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, if any claim or demand for
Taxes that could reasonably be expected to give rise to a claim for
indemnification under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> is asserted by any Governmental
Authority, the party first receiving notice of such claim or demand shall
notify the other party of such claim or demand promptly; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
that the failure of Purchaser to give such prompt notice shall not relieve
Seller of any of its indemnification obligations, except to the extent that
Seller is actually prejudiced by such failure. The Controlling Party shall, at
its own expense, control any such Tax Proceeding of or with respect to the
Company or any of its Subsidiaries (including, for this purpose, the Carve-Out
Entities) for any taxable period ending on or before the Closing Date (other
than a Tax Proceeding described in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(g)(v)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">) for which Seller
may be obligated to indemnify Purchaser under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
that, (A) the Controlling Party shall provide the Non-Controlling Party with a
timely and reasonably detailed account of each stage of such Tax Proceeding,
(B) the Controlling Party shall allow the Non-Controlling Party to consult in
good faith at the Non-Controlling Party&#8217;s expense on the positions taken in
such Tax Proceeding, (C) the Controlling Party shall defend such Tax Proceeding
diligently and in good faith as if it were the only Person affected by such Tax
Proceeding, (D) the Non-Controlling Party and its representatives shall have
the right to participate in such Tax Proceeding, assist in the preparation of
any written materials in such Tax Proceeding and attend any meetings or
telephone conversations with the applicable Governmental Authority, in each
case, at the Non-Controlling Party&#8217;s expense, and (E) the Controlling Party
shall not settle or compromise any such Tax Proceeding, if such settlement or
compromise could increase the liability for Taxes (including under this
Agreement) by more than a </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">de minimis </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">amount or reduce any Tax attributes
of the Non-Controlling Party or any of its Subsidiaries by more than a </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">de
minimis </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">amount, without obtaining the prior written consent of the
Non-Controlling Party (which consent shall not be unreasonably withheld,
conditioned or delayed). For purposes of this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(g)(iv)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Controlling
Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; with respect to a Tax Proceeding shall mean Purchaser unless Seller
is reasonably expected to bear a greater liability under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
as a result of such Tax Proceeding and provides prompt written notice to
Purchaser of its intent to control such Tax Proceeding, and the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Non-Controlling
Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; shall mean whichever of Seller or Purchaser is not the Controlling
Party. Whether or not Seller chooses to defend or prosecute any claim it is
entitled to defend or prosecute hereunder, all of the parties shall reasonably
cooperate in the defense or prosecution</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">thereof.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:83.0pt;margin-right:15.2pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(v)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding
anything to the contrary in this Agreement, (A) Seller shall have the exclusive
right to control in all respects, and neither Purchaser nor any of its
Affiliates shall be entitled to participate in,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:14.1pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Tax Proceeding with respect to (I) any Tax Return of Seller or any
of its Subsidiaries (other than the Company and its Subsidiaries) and (II) any
Tax Return of an affiliated, consolidated, combined, unitary or similar group
that includes Seller or any of its Subsidiaries (other than the Company and its
Subsidiaries) and (B) Purchaser shall have the exclusive right to control in
all respects, and neither Seller nor any of its Affiliates shall be entitled to
participate in, any Tax Proceedings with respect to (I) any Tax Return of
Purchaser or any of its Subsidiaries (other than the Company and its
Subsidiaries) and (II) any Tax Return of an affiliated, consolidated, combined,
unitary or similar group that includes Purchaser or any of its Subsidiaries.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:83.0pt;margin-right:16.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vi)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as otherwise
provided in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(g)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, Purchaser shall have the exclusive
right to control all Tax Proceedings with respect to the Company and its
Subsidiaries, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that in no event may Purchaser settle or
compromise any Tax Proceeding to the extent such resolution would reasonably be
expected to increase Seller&#8217;s liability for Excluded Taxes under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.9(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> by more than a </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">de minimis </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">amount without the prior written
consent of Seller (which consent shall not be unreasonably withheld,
conditioned or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">delayed).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:15.95pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(h)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchase Price
Adjustment</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Any amounts
paid pursuant to this</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> Section 5.9</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall be treated
as an adjustment to the Closing Purchase Price for all income Tax purposes to
the extent permitted by applicable</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Law.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:11.3pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font color=#010000 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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Survival and
Coordination</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Anything to
the contrary in this Agreement notwithstanding, (i) indemnification with
respect to Taxes and the procedures relating thereto shall be governed
exclusively by this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and the provisions of</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> Article VIII</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
shall not apply, and (ii) the covenants and agreements contained in this</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
Section 5.9</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and the representations and warranties set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
3.15</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall survive until thirty (30) days following the expiration of the
full period of all statutes of limitations (giving effect to any extensions
thereof), </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that any right to indemnification for breach of
covenant, agreement, representation or warranty in respect of which
indemnification may be sought under this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall survive the
time at which it would otherwise terminate pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(i)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> if
notice of the right to indemnification or of the breach or inaccuracy giving
rise to such right of indemnification shall have been given prior to such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">time.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.10&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Employee&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Matters</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:12.45pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser agrees that
Purchaser shall provide, or shall cause to be provided, with respect to each
employee of the Bank, the Company and its other Subsidiaries who is employed as
of immediately prior to the Effective Time (each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Current Employee</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;),
(i) during the period commencing at the Effective Time and ending on the one
(1) year anniversary of the Closing Date, base salary or base wage, as
applicable, which are no less favorable than those provided by the Bank, the
Company and its other Subsidiaries immediately prior to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.1pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effective Time to each such Current Employee, and (ii) during the
period commencing at the Effective Time and ending on December 31, 2021, (x)
annual cash bonus opportunities which are no less favorable than the annual
cash bonus opportunities (including any portion thereof treated as deferred
compensation) provided by the Bank, the Company and its other Subsidiaries
immediately prior to the Effective Time to each such Current Employee, (y)
pension and welfare benefits that are no less favorable in the aggregate to
those provided by the Bank, the Company and its other Subsidiaries immediately
prior to the Effective Time to each such Current Employee, and (z) subject to
the applicable Current Employee&#8217;s execution and non-revocation of a release of
claims, cash severance benefits that are no less favorable than the cash
severance benefits provided by the Bank, the Company and its other Subsidiaries
immediately prior to the Effective Time as set forth on Section 5.10(a) of the
Seller&#8217;s Disclosure Schedule.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.1pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">To the extent permitted
by applicable Law, for purposes of vesting, benefit accrual, vacation and sick
time credit and eligibility to participate under the employee benefit plans,
programs and policies of Purchaser and its Subsidiaries which may provide
benefits to any Current Employee after the Effective Time (including the
Company Benefit Plans) (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">New Plans</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), each Current Employee shall be
credited with his or her years of service with the Seller, the Bank, the
Company and its other Subsidiaries and their respective predecessors before the
Effective Time, to the same extent as such Current Employee was entitled,
before the Effective Time, to credit for such service under any similar Benefit
Plan in which such Current Employee participated or was eligible to participate
immediately prior to the Effective Time; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that the foregoing
shall not apply (i) to the extent that its application would result in a
duplication of benefits with respect to the same period of service, or (ii)
with respect to (A) benefit accrual, including level of pay credits, under any
employee pension benefit plan, (B) any benefit plan that is a frozen benefit
plan or provides grandfathered benefits, (C) any retiree medical plans or
arrangements or (D) any equity incentive awards granted by Purchaser. In
addition, and without limiting the generality of the foregoing, Purchaser shall
use commercially reasonable efforts to cause (i) each Current Employee to be
immediately eligible to participate, without any waiting time, in any and all
New Plans to the extent coverage under such New Plan is replacing comparable
coverage under a Benefit Plan in which such Current Employee participated
immediately before the Effective Time, and (ii) for purposes of each New Plan
providing medical, dental, pharmaceutical and/or vision benefits to any Current
Employee, any evidence of insurability requirements, all pre-existing condition
exclusions and actively-at-work requirements of such New Plan to be waived for
such Current Employee and his or her covered dependents, to the extent such
conditions were inapplicable or waived under the comparable Benefit Plan.
Purchaser shall use commercially reasonable efforts to cause any eligible
expenses incurred by any Current Employee and his or her covered dependents
during the portion of the plan year of the Benefit Plan ending on the date such
Current Employee&#8217;s participation in the corresponding New Plan begins to be
taken into account under such New Plan for purposes of satisfying all
deductible, coinsurance and maximum out-of-pocket requirements applicable to
such Current Employee and his or her covered dependents for the applicable plan</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">year.&nbsp;</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.95pt;margin-top:3.9pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser hereby
acknowledges that a &#8220;change in control&#8221; or &#8220;change of control&#8221; or term or
concept of similar import for the Company Benefit Plans identified in Section
5.10(c) of the Seller&#8217;s Disclosure Schedule will occur upon the Effective</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Time.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:12.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effective as of
immediately prior to the Effective Time, if requested in writing by Purchaser
at least ten (10) Business Days prior to the Effective Time, the Company shall
terminate any and all 401(k) plans maintained by the Bank, the Company and its
other Subsidiaries (collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company 401(k) Plan</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;). In the
event that Purchaser requests that the Company 401(k) Plan be terminated,
Seller shall provide Purchaser with evidence that the Company 401(k) Plan has
been so terminated, provided that prior to amending or terminating the Company
401(k) Plan, Seller shall provide Purchaser with the form and substance of any
applicable resolutions or amendments for review and approval (which approval
shall not be unreasonably withheld, conditioned or delayed).&#160; In connection
with the termination of such plan, Purchaser shall permit each Current Employee
to make rollover contributions of &#8220;eligible rollover distributions&#8221; (within the
meaning of Section 401(a)(31) of the Code, including all participant loans) in
cash or notes (in the case of participant loans) in an amount equal to the
eligible rollover distribution portion of the account balance distributed to
each such Current Employee from such plan to an &#8220;eligible retirement plan&#8221;
(within the meaning of Section 401(a)(31) of the Code) of Purchaser or one of
its Affiliates. If the Company 401(k) Plan is terminated as described herein,
the Current Employees shall be eligible to commence participation in a 401(k)
plan maintained by Purchaser or one of its Affiliates as soon as
administratively practicable following the Closing</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Date.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.35pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller or the
applicable Affiliate shall take all actions necessary to cause all benefits
under a Seller Benefit Plan (including, but not limited to, any equity or
equity-based awards and deferred compensation benefits) held by or with respect
to each employee, officer, director and independent contractor of the Bank, the
Company and its other Subsidiaries (other than the Carve-Out Employees or Other
U.S. Employees) to become vested in full no later than five (5) Business Days
prior to the Closing (subject to any applicable bank regulatory Laws and
regulations), and to be paid within thirty (30) days following vesting or, if
later, at the earliest time that would not result in the application of a
penalty under Section 409A of the Code;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that any retention
bonus amounts under the Retention Letters (as defined in the Seller&#8217;s
Disclosure Schedule) will vest and be paid in accordance with their</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">terms.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:22.3pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(f)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller shall take all
actions necessary to cause all Carve-Out Employees and all Other U.S. Employees
to cease employment with the Bank, the Company and its other Subsidiaries and
to cause all Carve-Out Employees and all Other U.S. Employees (and their
eligible dependents) to cease participating in the Company Benefit Plans prior
to the Effective Time and for the liabilities and obligations with respect to
the Carve-Out Employees and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Other&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.4pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">U.S. Employees
under a Company Benefit Plan to be assumed by a Seller Benefit Plan, such that
from and after the Effective Time, Purchaser and its Affiliates (including the
Company and its Subsidiaries) and the Company Benefit Plans shall have no
liabilities or obligations to the Carve- Out Employees or the Other U.S.
Employees (and their eligible dependents). In addition, Seller shall take all
actions necessary to transfer the sponsorship of any Company Benefit Plans
which</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.75pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">are sponsored by the Company or any of its Subsidiaries but
primarily maintained for the benefit of current or former employees, officers,
directors or independent contractors of the Seller or its Affiliates (other
than the Company and any of its Subsidiaries) to Seller or one of its
Affiliates (other than the Company and any of its Subsidiaries), which plans
shall be considered Seller Benefit Plans.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.6pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(g)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The provisions of this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.10</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> are solely for the benefit of the parties to this Agreement, and
nothing in this Agreement, whether express or implied, is intended to, or
shall, (i) constitute the establishment or adoption of or an amendment to any
employee benefit plan for purposes of ERISA or otherwise be treated as an
amendment or modification of any Benefit Plan, New Plan or other benefit plan,
agreement or arrangement, (ii) limit the right of Seller, the Bank, the
Company, Purchaser or their respective Subsidiaries or Affiliates to amend,
terminate or otherwise modify any Benefit Plan, New Plan or other benefit plan,
agreement or arrangement following the Effective Time, (iii) interfere or
restrict in any way the rights of Purchaser or any of its Affiliates to
discharge or terminate the services of any Current Employee or other Person for
any reason whatsoever, with or without cause, or (iv) create any third-party
beneficiary or other right (A) in any Person, including any current or former
employee of the Company, the Bank or any other Subsidiary of the Company, any
participant in any Benefit Plan, New Plan or other benefit plan, agreement or
arrangement (or any dependent or beneficiary thereof) or (B) to continued
employment with Seller, the Bank, the Company, any other Subsidiary of the
Company or Purchaser or any of its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Affiliates.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:.05pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.11&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Intellectual&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Property</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.25pt;margin-top:.05pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as expressly
provided in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.11</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or pursuant to the Transitional Trademark
License, Purchaser, on behalf of itself and its Affiliates (which, for the
avoidance of doubt, shall include throughout this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.11</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> the
Company and its Subsidiaries following the Closing), acknowledges and agrees
that neither Purchaser nor any of its Affiliates is purchasing, acquiring,
licensing or otherwise obtaining any right, title or interest in, any
trademarks, service marks, logos, designs, symbols, trade names, corporate
names or other similar identifiers of origin (collectively, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) or
under any Intellectual Property, in each case, owned by Seller or any of its
Affiliates (except for the Intellectual Property owned by the Bank, the Company
and its other Subsidiaries (other than the Carve-Out Entities) as of the date
hereof or immediately prior to Closing) including the names &#8220;BBVA&#8221; or any
Internet domain name, social media handle, Mark, word or name related thereto,
or employing the words &#8220;BBVA&#8221;, or any derivation, variation, translation or
adaptation thereof, or any Internet domain name, social media handle, Mark,
word or name confusingly similar thereto or embodying any of the foregoing,
whether alone or in combination with any other words, name or Marks, and
whether registered or unregistered (collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller Marks</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;),
and that to the extent the Bank, the Company or any of its other Subsidiaries
has any such rights, such rights shall be, and hereby are, assigned to Seller
effective as of the Closing. After the Closing, Purchaser shall cause the Bank,
the Company and its Subsidiaries (i) to terminate any and all uses of any of
the Seller Marks in accordance with the terms of the Transitional Trademark
License, (ii) to execute and deliver to Seller at such time a written
disclaimer of any rights to the Seller Marks and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">an&nbsp;</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:17.5pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">acknowledgment that the Seller Marks and the goodwill associated
therewith are proprietary rights belonging to Seller or an Affiliate of Seller
(other than the Bank, the Company and its other Subsidiaries) and that such
entities are the sole owners of all trademark and other rights, titles and
interests in and to the Seller Marks, and (iii) execute such other documents reasonably
requested by Seller from time-to-time to effectuate or evidence the foregoing.
Purchaser acknowledges and agrees that neither the Bank, the Company nor any of
its other Subsidiaries shall, after the Closing, use, seek to use, adopt,
register or apply for registration of any Seller Mark except in accordance with
the terms of the Transitional Trademark License.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.8pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as expressly
provided in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.11</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or pursuant to the Transitional Trademark
License, Seller, on behalf of itself and its Affiliates, acknowledges and
agrees that neither Seller nor any of their Affiliates has any right, title or
interest in, any Marks or other Intellectual Property, in each case, owned by
the Company, the Bank or any of their Subsidiaries (other than the Seller
Marks) including the names &#8220;Covault,&#8221; &#8220;Upturn,&#8221; &#8220;Simple,&#8221; &#8220;Azlo,&#8221; &#8220;Mission
Street Capital,&#8221; and &#8220;Open&#8221; or any Internet domain name, social media handle,
Mark, word or name related thereto, or employing the words &#8220;Covault,&#8221; &#8220;Upturn,&#8221;
&#8220;Simple,&#8221; &#8220;Azlo,&#8221; &#8220;Mission Street Capital,&#8221; and &#8220;Open&#8221;, or any derivation,
variation, translation or adaptation thereof, or any Internet domain name,
social media handle, Mark, word or name confusingly similar thereto or
embodying any of the foregoing, whether alone or in combination with any other
words, name or Marks, and whether registered or unregistered (collectively, the
&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company Marks</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), and that to the extent Seller or any of its Affiliates
has any such rights, such rights shall be, and hereby are, assigned to the
Company effective as of the Closing. After the Closing, Seller shall and shall
cause their Affiliates (i) to terminate any and all uses of any of the Company
Marks promptly following the Closing, (ii) to execute and deliver to Purchaser
at such time a written disclaimer of any rights to the Company Marks and an
acknowledgment that the Company Marks and the goodwill associated therewith are
proprietary rights belonging to the Company or a Subsidiary of the Company and
that such entities are the sole owners of all trademark and other rights,
titles and interests in and to the Company Marks, and (iii) execute such other
documents reasonably requested by Purchaser from time-to-time to effectuate or
evidence the foregoing. Seller acknowledges and agrees that neither Seller nor
any of their Affiliates shall after the Closing, use, seek to use, adopt,
register or apply for registration of any Company</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mark.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.65pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Prior to Closing, the
Bank, the Company and the other Subsidiaries shall transfer to Seller (or an
Affiliate of Seller designated by Seller) (i) any Seller Marks owned by the
Bank, the Company and the other Subsidiaries and (ii) any Intellectual Property
that is owned by the Bank, the Company or the other Subsidiaries and
exclusively used in, or exclusively related to, the businesses of the Carve-Out
Entities. For the avoidance of doubt, no Intellectual Property owned by the
Carve-Out Entities as of the date hereof, or developed by or on behalf of the
Carve-Out Entities after the date hereof and prior to Closing, shall be
transferred from the Carve-Out Entities to the Bank, the Company or the other
Subsidiaries as part of the Carve-Out Transactions.</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:14.3pt;margin-top:3.9pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.12&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Intercompany Items</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as set forth
in Section 5.12 of the Seller&#8217;s Disclosure Schedule, prior to the Closing,
Seller shall take, or cause to be taken, all such actions necessary so that (i)
all Related Party Contracts are terminated (except as necessary to effectuate
the delivery of services under the Transitional Services Agreement, Reverse
Transitional Services Agreement or Transitional Trademark License) and (ii) all
outstanding Intercompany Receivables or Intercompany Payables shall have been
settled or paid (except for any Intercompany Payables or Intercompany
Receivables solely involving the Carved-Out Entities, which shall be excluded
from the Transactions pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.14</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">); </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that
the parties hereby agree to work in good faith to agree upon mutually
acceptable procedures for the settlement or payment of (i) such amounts in a
tax-efficient manner and (ii) any trailing activities. In addition,
notwithstanding the foregoing, prior to the Closing, Seller shall cause Grupo
Financiero BBVA Bancomer, S.A. de C.V., as well as Seller&#8217;s other non-U.S.
banks that act as receiving banks and paying agents for money transmissions
with BBVATransfer Services, Inc., to enter into amendments to the current
agreements or arrangements in respect of the distribution agreements between
BBVA Transfer Services, Inc. and such Persons, such that the agreements and
arrangements continue for an initial one-year period following the Closing
(notwithstanding any change-of-control provisions currently existing) on their
current terms (subject to ongoing compliance by BBVA Transfer Services, Inc.
with AML Laws in a manner substantially similar as of immediately prior to the
Closing and under specific terms (including termination rights in connection
with non-compliance of AML Laws) to be negotiated in good faith by the parties
prior to the Closing). Following the date hereof and prior to the Closing Date,
the parties shall negotiate in good faith arms-length arrangements related to a
five (5) year extension of the BBVA Transfer Services, Inc. distribution</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">agreements.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:41.4pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.13&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Insurance</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Following the Closing Date, the Company and its Subsidiaries shall
no longer be insured under any insurance policy of Seller or any of its
Affiliates, which are identified in Section 3.16 of the Seller&#8217;s Disclosure</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:13.3pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.14&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Carve-Out
Transactions</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Prior to the Closing, Seller, Company
and Purchaser, as applicable, shall take all such actions as are necessary and
sufficient to effectuate the Carve-Out Transactions. It is understood and
agreed that, pursuant to the BSI Transfer, Seller, Company, and Purchaser shall
work in good faith to cause PNC Investment Company, LLC to become the ultimate
beneficial owner of BSI&#8217;s U.S. retail brokerage accounts, and, as promptly as
practicable following the date hereof, the Seller and the Purchaser shall
engage with their respective clearing brokers and FINRA with respect to the
proposed structuring and execution of the BSI Transfer, and, to the extent
reasonably practicable, Seller and Purchaser shall implement any changes in
respect of such proposed structuring as may be required or deemed advisable by
such clearing brokers or FINRA. Seller, Company and the Purchaser shall
undertake the matters contemplated by this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.14</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> in a manner that
does not, in any way prevent or impair in any material respect the consummation
of the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.75pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.15&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Release</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. At or prior to the Closing, subject to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.12</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and the
provisions of the Transitional Services Agreement, Reverse Transitional
Services Agreement, Trademark License and any other Contract that may be
entered into among the parties</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">following&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:6.0pt;margin-left:10.95pt;margin-right:10.85pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the
Closing, (a) the Company, the Bank and Company&#8217;s other Subsidiaries shall
execute releases acquitting, releasing and discharging Seller, any of its
Affiliates or Representatives (including the directors of the Company) from any
and all liabilities to the Company, the Bank and Company&#8217;s other Subsidiaries
that exist as of the Closing Date or that arise in the future from events or
occurrences taking place prior to or as of the Closing Date (provided that the
foregoing shall not apply to the extent that any such Person is a Purchaser
Indemnified Party exercising rights under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">), and (b) Seller
shall execute releases acquitting, releasing and discharging (i) the Company,
the Bank and Company&#8217;s other Subsidiaries and their respective Representatives
from any and all liabilities to Seller or its Affiliates (other than the
Company, the Bank and Company&#8217;s other Subsidiaries) that exist as of the
Closing Date or that arise in the future from events or occurrences taking
place prior to or as of the Closing Date and from any obligations under
Contracts to which Seller or any of its Affiliates (other than the Company, the
Bank and Company&#8217;s other Subsidiaries) is a party (x) under which the Company,
the Bank and Company&#8217;s other Subsidiaries are provided with services, property
or other assets that are used in the conduct of their respective businesses,
(y) that contain any exclusive dealing or third party referral arrangements
imposed on the Company, the Bank or Company&#8217;s other Subsidiaries, or any
non-competition or non-solicitation covenants that purport to limit the freedom
from and after the Closing of the Company, the Bank and Company&#8217;s other
Subsidiaries to compete in any line of business or with any Person or in any
area, or (z) for which there are any costs or expenses that would be incurred
by the Company, the Bank and Company&#8217;s other Subsidiaries from and after the
Closing in connection with the termination of such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Contracts.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:10.95pt;margin-right:11.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.16&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Further
Assurances</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Before, at and after the Closing,
consistent with the terms and conditions hereof, Seller and Purchaser shall,
and shall cause each of their respective Subsidiaries to, and shall use
reasonable best efforts to cause their Affiliates to, promptly execute,
acknowledge and deliver such instruments, certificates and other documents and
take such other action as a party may reasonably require in order to carry out
any of the Transactions. Following the Closing, the parties shall cooperate
with one another to prepare and file all documents and forms and amendments
thereto as may be required by applicable Law with respect to the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:10.95pt;margin-right:11.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.17&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Removal;
Resignations</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. On or prior to the Closing Date,
Seller will deliver to Purchaser evidence of the removal of, or executed
resignations of, each director and/or officer of the Company and each of the
Company Subsidiaries who is an employee of Seller or any of its Affiliates
(other than solely the Company or any of the Company Subsidiaries) from his or
her position as director and/or officer of the Company and/or each applicable
Company Subsidiary, effective as of the Effective</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Time.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:82.95pt;margin-right:0cm;margin-top:0cm;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.18&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">D&amp;O Indemnification and</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Insurance</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:18.85pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except with respect to
any case involving fraud, from and after the Effective Time, in the event of
any threatened or actual Action in the U.S., whether civil, criminal or
administrative, in which any Person who is now, or has been at any time prior
to the date of this Agreement, or who becomes prior to the Effective Time, a
director or officer of the Company or any of its Subsidiaries, or who is or was
serving at the request of the Company</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:11.55pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any of its
Subsidiaries as a director or officer or agent of another Person, is, or is threatened
to be, made a party or witness based in whole or in part on, or arising in
whole or in part out of, or pertaining in whole or in part to, (i) the fact
that such Person is serving or did serve in any such capacity, (ii) this
Agreement or the Transactions, whether asserted or arising before or after the
Effective Time, (iii) any liability or obligation of the Company or any of its
Subsidiaries, or (iv) any action or failure to take action by any such
director, officer or agent in his or her capacity as such occurring in whole or
in part prior to the Effective Time, the Company shall, and Purchaser shall
cause the Company to, indemnify, defend and hold harmless, as and to the
fullest extent permitted or required by applicable Law, each such Person against
any Losses (including reimbursement for legal and other fees and expenses
incurred in advance of the final disposition of any such matter or
investigation to the fullest extent permitted by applicable Law, provided that
the Person to whom expenses are advanced provides an undertaking to repay such
advances if it is ultimately determined that such Person is not entitled to
indemnification), judgments, fines and amounts paid in settlement in connection
with any such threatened or actual Action in</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:13.25pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">U.S. Such Persons shall reasonably
cooperate with the Purchaser, the Company and their Subsidiaries in the defense
of any such threatened or actual Action and none of the Purchaser, the Company
or any of their Subsidiaries shall have any liability hereunder in respect of
any compromise or settlement of any action or claim effected without the prior
written consent of the Purchaser (which consent shall not be unreasonably
withheld or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">delayed).&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:10.95pt;margin-right:15.25pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Without limiting the
indemnification and other rights provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.18(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, all rights
to indemnification and all limitations on Losses existing in favor of the
directors, officers and employees of the Company and its Subsidiaries as
provided in their respective Constituent Documents as in effect as of the date
of this Agreement or in any indemnification agreement in existence on the date
of this Agreement with the Company or any of its Subsidiaries shall continue in
full force and effect to the fullest extent permitted by Law and shall be
honored by the Company and its Subsidiaries or their respective successors as
if they were the indemnifying party thereunder, without any amendment thereto.
To the extent not already in effect at Closing, as soon as practicable after
Closing, the Purchaser shall, and shall cause the Company or the Bank, as
applicable, to use its reasonable best efforts to obtain a &#8220;tail&#8221; insurance
policy with respect to directors&#8217; and officers&#8217; liability insurance that covers
for a period of six (6) years from the Effective Time the individuals serving
as directors and officers of the Company or any of its Subsidiaries immediately
prior to the Effective Time for acts or omissions occurring prior to the
Effective Time, with coverage and amounts appropriate for the size and scope of
the Company and its Subsidiaries in amounts consistent with the coverage
existing as of the Closing, with respect to acts or omissions occurring prior
to the Closing that were committed by such officers and directors in their
capacity as such; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that in no event shall the
Purchaser, Company or Bank be required to expend for such insurance policy an
annual premium amount in excess of two-hundred fifty percent (250%) of the
annual premiums currently paid by the Company for such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">insurance.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:22.45pt;margin-top:0cm;text-align:justify;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.19&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Other Offers</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. None of the Seller, the
Company, the Bank, or any other Subsidiary of the Company shall, directly or
indirectly, through any representative or otherwise, solicit or entertain
offers from, negotiate with or in any manner encourage,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">discuss,&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:6.0pt;margin-left:10.95pt;margin-right:11.25pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">accept or
consider any proposal of any other person relating to the acquisition of the
Shares or shares, or substantially all the assets, of the Company or the Bank
(an &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Acquisition Proposal</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) (other than acquisition of OREO property
held by the Bank or certain Subsidiaries of the Company in the ordinary course
of their business in accordance with past practices), or otherwise disclose any
non-public information or afford access to the properties, books or records of
the Company or the Bank to any person or entity who has indicated an intention
to make or has made an Acquisition</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Proposal.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:26.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.20&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transaction Documents</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. On the Closing Date, Purchaser and Seller shall cause to be
executed and delivered (i) a Transitional Services Agreement, substantially in
the form attached hereto as </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Annex B</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transitional Services</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;),&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:30.8pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">a Reverse Transitional Services Agreement,
substantially in the form attached hereto as</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> Annex C</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Reverse
Transitional Services Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) and (iii) a Transitional</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Trademark License, substantially in the
form attached hereto as </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Annex D</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transitional Trademark License</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:10.95pt;margin-right:13.5pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.21&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Updated
Financial Information</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. From the date of this
Agreement until the Closing Date or the termination of this Agreement pursuant
to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE VII</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, Seller will provide to Purchaser (i) at the same time
that it receives such materials from the Company, unredacted copies of all
future monthly financial packages of the type included in Section 1.2.3. of the
Dataroom and (ii) as promptly as practicable, but in no event later than the
thirtieth (30<sup>th</sup>) day following the end of the relevant quarter-end
month, the quarterly unaudited consolidated financial statements (including any
related notes and schedules thereto) of the Company that are prepared for
management purposes, for each of the quarters ended thereafter (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Quarterly&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Unaudited Financial Statements</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;). Each of the statements of financial
condition included in the Quarterly Unaudited Financial Statements fairly
presents, or will fairly present, in all material respects the consolidated
financial position of the Company as of its date, and each of the statements of
income and changes in stockholders&#8217; equity and cash flows or equivalent
statements included in the Quarterly Unaudited Financial Statements fairly
presents or will fairly present in all material respects the consolidated
results of operations, changes in stockholders&#8217; equity and changes in cash
flows, as the case may be, of the Company for the periods set forth therein, in
each case in accordance with GAAP, in each case, to (A) any matter to the
extent disclosed in the Quarterly Unaudited Financial Statements (or the notes thereto,
if applicable), and (B) to normal year-end</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">adjustments.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:4.5pt;text-align:center;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
VI</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">CONDITIONS
TO CLOSING</font></b></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.05pt;margin-right:27.2pt;margin-top:6.0pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Conditions to
the Obligations of Purchaser and Seller</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The
obligations of the parties hereto to effect the Closing are subject to the satisfaction
(or waiver) prior to the Closing of the following</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">conditions:&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:25.85pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No Prohibitions</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. No Governmental Authority of competent
jurisdiction shall have enacted, issued, promulgated, enforced or entered any
Law or Government</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Order&nbsp;</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:17.1pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">permanently
restraining, enjoining or otherwise prohibiting or making illegal the
consummation of the Transactions;</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:31.65pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Required Approvals</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. All Requisite Regulatory Approvals set
forth in</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> Annex A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> hereto shall have been obtained, and any applicable
waiting periods relating thereto shall have expired or been terminated early;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Carve-Out
Transactions</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The
Carve-Out Transactions shall have</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">been&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">consummated.</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:83.0pt;margin-right:0cm;margin-top:0cm;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.2&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Conditions to the Obligations of Purchaser</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The obligation</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:10.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser to effect the Closing is subject
to the satisfaction (or waiver) prior to the Closing of the following
conditions:</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:12.15pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Representations and
Warranties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. (i) Each of
the Seller&#8217;s Fundamental Warranties shall be true and correct in all but </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">de
minimis </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">respects on and as of the date hereof and the Closing Date; and
(ii) other than the Seller&#8217;s Fundamental Warranties, the representations and
warranties of Seller contained in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Article III</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> of this Agreement (not
giving effect to any &#8220;material&#8221; or &#8220;Material Adverse Effect&#8221; or other similar
qualifiers) shall be true</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and
correct as of the Closing Date (except for any such representations and
warranties that are made as of another specific date which shall be required to
be so true and correct only as of such date), except where the failures of such
representations and warranties in clause (ii) to be true and correct as of such
dates has not had, individually or in the aggregate, a Material Adverse</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effect);&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:14.7pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Covenants</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. All the covenants and agreements required
by this Agreement to be complied with and performed by either of Seller, the
Company, the Bank or any of the other Subsidiaries of the Company on or before
the Closing Date shall have been duly complied with and performed in all
material</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">respects;&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:14.65pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Deliverables</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Purchaser shall have received all
certificates, documents, evidence and agreements required to be delivered to it
at the Closing under the Agreement, all in form and substance reasonably
satisfactory to Purchaser;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:11.05pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Officer&#8217;s
Certificate</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Purchaser shall
have received a certificate, signed by a duly authorized officer of Seller and
dated the Closing Date, (i) certifying that the conditions set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
6.2(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> through </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.2(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> have been</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">satisfied.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:13.75pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.3&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Conditions to the Obligations
of Seller</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The obligation of Seller to effect the
Closing is subject to the satisfaction (or waiver) prior to the Closing of the
following conditions:</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.6pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Representations and
Warranties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. (i) Each of
the Purchaser&#8217;s Fundamental Warranties shall be true and correct in all but </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">de
minimis </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">respects on and as of the date hereof and the Closing Date; and
(ii) other than the Purchaser&#8217;s Fundamental Warranties,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">71</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:14.2pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">representations and warranties of Purchaser contained in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Article
IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> of this Agreement (not giving effect to any &#8220;material&#8221; or &#8220;Purchaser
Material Adverse Effect&#8221; or other similar qualifiers) shall be true and correct
as of the Closing Date (except for any such representations and warranties that
are made as of another specific date which shall be required to be so true and
correct only as of such date), except where the failures of such
representations and warranties in clause (ii) to be true and correct as of such
dates has not had, individually or in the aggregate, a Purchaser Material Adverse
Effect);</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:17.3pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Covenants</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. All the covenants and other agreements
required by this Agreement to be complied with and performed by Purchaser on or
before the Closing Date shall have been duly complied with and performed in all
material</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">respects;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:18.95pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Deliverables</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Seller shall have received all
certificates, documents, evidence and agreements required to be delivered to it
at the Closing pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.2(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">; and</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:17.75pt;margin-top:4.5pt;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Officer&#8217;s
Certificate</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Seller shall
have received a certificate, signed by a duly authorized officer of Purchaser
and dated the Closing Date, to the effect that the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">conditions set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.3(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> through </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
6.3(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> have been</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">satisfied.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:200.65pt;margin-right:200.55pt;margin-top:0cm;text-align:center;text-indent:-.1pt;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE VII</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:200.65pt;margin-right:200.55pt;margin-top:0cm;text-align:center;text-indent:-.1pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TERMINATION</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.75pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 7.1&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Termination</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. This Agreement may be terminated at any time prior to the Closing</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Date:&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by mutual written
consent of Purchaser and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:16.3pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by Purchaser or Seller
by giving written notice to the other party if (i) any Governmental Authority
that must grant a Requisite Regulatory Approval has denied such approval and
such denial has become final and non-appealable or (ii) any Governmental
Authority of competent jurisdiction shall have issued a final non-appealable
order enjoining or otherwise prohibiting the consummation of the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transactions;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:22.65pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by Purchaser or Seller
by giving written notice to the other party if the Closing shall not have
occurred on or before the Outside Date, unless the failure of the Closing to
occur by such date arises out of, or results from, a material breach by the
party seeking to terminate this Agreement of any representation, warranty,
covenant or agreement of such party or its Affiliates in this Agreement; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
that, at the option of either party (if such party would be permitted to
terminate this Agreement pursuant to this Section 7.1), the Outside Date may be
extended, by giving written notice to the other party, to the date that is
fifteen (15) months after the date hereof in the event that the Requisite
Regulatory Approvals have not yet been obtained and are reasonably capable of being
obtained during such extension</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">period;&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:19.65pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by Purchaser by giving
written notice to the Seller, if Seller has breached any of its covenants or
agreements or any of its representations or warranties contained in this
Agreement, which breach, individually or in the aggregate, would cause the
conditions set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> to not be satisfied, and such breach
is not cured within 45 days following written notice of such breach to Seller
or cannot, by its nature, be cured prior to the Outside Date;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
that Purchaser is not then in material breach of any representation, warranty,
covenant or other agreement contained in this Agreement;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:10.95pt;margin-right:13.45pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by Seller by giving
written notice to the Purchaser, if Purchaser has breached any of its covenants
or agreements or any of its representations or warranties contained in this
Agreement, which breach, individually or in the aggregate, would cause the
conditions</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
6.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> to not be satisfied, and such breach is not cured within 45 days following
written notice to Purchaser of such breach or cannot, by its nature, be cured
prior to the Outside Date; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that Seller is not then in material
breach of any representation, warranty, covenant or other agreement contained
in this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:19.0pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 7.2&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effect of Termination</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. In the event of termination of this Agreement as provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
7.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, this Agreement shall forthwith become void and have no effect, and
none of Seller, Purchaser, any of their respective Affiliates or any of the officers,
directors or stockholders of any of them shall have any liability of any nature
whatsoever hereunder, or in connection with the Transactions, except (i) </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.5</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Confidentiality</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">) and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Article VIII</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">General Provisions</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">)
shall survive any termination of this Agreement, and (ii) termination will not
relieve any party from liability for any willful and material breach prior to
such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">termination.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:176.45pt;margin-right:176.3pt;margin-top:11.0pt;text-align:center;text-indent:-.15pt;"><b><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE VIII</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:176.65pt;margin-right:176.35pt;margin-top:0cm;text-align:center;text-indent:-.3pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">GENERAL PROVISIONS</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:83.05pt;margin-right:0cm;margin-top:0cm;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Survival of Representations and Warranties;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnification</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:16.6pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The representations and
warranties of the parties shall survive until the date that is eighteen (18)
months following the Closing Date, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that the Seller&#8217;s
Fundamental Representations and the Purchaser&#8217;s Fundamental Representations shall
survive until the expiration of the applicable statute of limitations, and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">further</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that survival of the representations and warranties set forth
in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.15</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall be governed by </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(i)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as
provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9(i)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, the covenants and agreements contained in
this Agreement shall survive the Effective Time until fully performed in
accordance with their respective terms, provided that the covenants and
agreements contained in this Agreement that by their terms apply or are to be
performed entirely prior to the Effective Time shall only survive until the
period specified in the immediately preceding sentence. Notwithstanding the
preceding sentences, any breach of representation, warranty, covenant or
agreement in respect of which indemnity may be sought under this Agreement
shall survive the time at which it would otherwise terminate if (and to the
extent) prior to such time notice of the breach giving rise to such right of
indemnity shall have been given in accordance with this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> to
the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">party&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:17.05pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">against whom indemnity is sought, in which case such breach shall
survive until final resolution of such claim (or, if earlier, the latest date
permitted by applicable Law).</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.25pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effective at and after
the Closing and subject to the other provisions of this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
Seller hereby agrees to indemnify Purchaser and its Affiliates (including the
Company and its Subsidiaries) and their respective Representatives
(collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser Indemnified Parties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) against and agrees
to hold each of them harmless from, and reimburse any Purchaser Indemnified
Party for, any and all Losses suffered by a Purchaser Indemnified Party as a
result of or relating</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to:&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:55.8pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any breach or
inaccuracy of any Seller Fundamental Representation or the certificate
delivered at Closing in respect thereof determined without giving effect to any
limitations as to materiality or &#8220;Material Adverse Effect&#8221; set forth</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">therein;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:49.7pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any breach or
inaccuracy of any representation and warranty made by Seller set forth in this
Agreement or the certificate delivered at Closing in respect thereof (other
than the Seller Fundamental Representations</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.6pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and the representations and warranties set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.15</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
(which matters are addressed in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">) without giving effect to
any limitations as to materiality or &#8220;Material Adverse Effect&#8221; set forth
therein (other than in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">3.6(g)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">);&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:54.35pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any breach, failure,
nonfulfillment or default by Seller in the performance of or compliance with
any of the covenants or agreements made or to be performed by Seller pursuant
to this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:49.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any Company Transaction
Expenses that were not (A) paid in full at or prior to the Closing, (B) borne
entirely by Seller or any of its Affiliates (other than the Company and its
Subsidiaries), or (C) deducted from the Purchase Price paid pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">2.2(c)(i)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:54.85pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(v)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(x) the Seller Benefit
Plans and any (y) liabilities with respect to current or former employees of
Seller (other than the Current Employees and former employees whose final
service within Seller&#8217;s controlled group (as defined in Sections 414(b) and (c)
of the Code) was with the Company or any of its Subsidiaries);</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:155.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(vi)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any Carve-Out Entity,
the Carve-Out Employees, the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Other&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:47.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">U.S. Employees
and the Carve-Out Transactions.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:21.4pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding any other provision to the contrary, Seller shall
not be required to indemnify or hold harmless any Purchaser Indemnified Party
against, or reimburse any Purchaser Indemnified Party for, any Losses pursuant
to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1(b)(ii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (A) with respect to any claim (or series of claims
arising from similar or related underlying facts, events or circumstances,
including as more specifically described in Section 8.1(b) of the Seller&#8217;s</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:14.4pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Disclosure Schedule) unless such claim (or series of claims arising
from similar or related underlying facts, events or circumstances, including as
more specifically described in Section 8.1(b) of the Seller&#8217;s Disclosure
Schedule) involves Losses in excess of $200,000 (nor shall any such claim (or
series of claims arising from similar or related underlying facts, events or circumstances,
including as more specifically described in Section 8.1(b) of the Seller&#8217;s
Disclosure Schedule) that does not meet such $200,000 threshold be applied to
or considered for purposes of calculating the aggregate amount of the Purchaser
Indemnified Parties&#8217; Losses for which Seller has responsibility under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
8.1(b)(ii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">), in which event all such Losses for such claim (or series of
claims) shall be considered for purposes of calculating the aggregate amount of
the Purchaser Indemnified Parties&#8217; Losses for which Seller has responsibility
under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">8.1(b)(ii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and (B) until the aggregate amount of
the Purchaser Indemnified Parties&#8217; Losses exceeds $100,000,000 (such amount,
the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Basket</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), after which Seller shall be obligated for all such Losses
of the Purchaser Indemnified Parties in excess of the amount of the Basket.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.4pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding any other provision to the contrary, the cumulative
aggregate indemnification obligation of Seller under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1(b)(ii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
shall not exceed $1,200,000,000 (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Cap</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), and the cumulative
aggregate indemnification obligation of Seller under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Sections&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">8.1(b)(i)&#8211;(ii)&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
shall not exceed the Closing Purchase Price (as adjusted hereunder), other than
in respect of Losses arising as a result of fraud.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:23.5pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effective at and after
the Closing and subject to the other provisions of this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
Purchaser hereby indemnifies Seller and its Affiliates and their respective
Representatives (collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller Indemnified Parties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) against
and agrees to hold each of them harmless from, and reimburse any Seller
Indemnified Party for, any and all Losses suffered by a Seller Indemnified
Party as a result of or relating</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to:&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:49.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any breach or
inaccuracy of any Purchaser Fundamental Representation or the certificate
delivered at Closing in respect thereof determined without giving effect to any
limitations as to materiality or &#8220;Purchaser Material Adverse Effect&#8221; set forth</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">therein;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:71.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any breach or
inaccuracy of any representation and warranty made by Purchaser set forth in
this Agreement or the certificate delivered</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">at&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Closing&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">respect&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">thereof&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">than&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Fundamental Representations) determined
without giving effect to any limitations as to materiality or &#8220;Purchaser
Material Adverse Effect&#8221; set forth therein;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:55.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iii)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any breach, failure,
nonfulfillment or default by Purchaser in the performance of or compliance with
any of the covenants or agreements made or to be performed by Purchaser
pursuant to this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:24.8pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding any other provision to the contrary, Purchaser shall
not be required to indemnify or hold harmless any Seller Indemnified Party
against, or reimburse any Seller Indemnified Party for, any Losses pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
8.1(c)(ii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (A) with respect to any claim (or series of related claims
arising from similar or related underlying facts, events or</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">75</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:6.0pt;margin-left:10.95pt;margin-right:13.45pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">circumstances)
unless such claim (or series of related claims arising from similar or related
underlying facts, events or circumstances) involves Losses in excess of
$200,000 (nor, subject to the foregoing, shall any such item that does not meet
such $200,000 threshold be applied to or considered for purposes of calculating
the aggregate amount of the Seller Indemnified Parties&#8217; Losses for which
Purchaser has responsibility under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1(c)(ii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">), in which event
all such Losses for such claim (or series of claims) shall be considered for
purposes of calculating the aggregate amount of the Seller Indemnified Parties&#8217;
Losses for which Purchaser has responsibility under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1(c)(ii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
and (B) until the aggregate amount of the Seller Indemnified Parties&#8217; Losses
exceeds the Basket, after which Purchaser shall be obligated for all such
Losses of the Seller Indemnified Parties in excess of the amount of the Basket.</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:10.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding
any other provision to the contrary, the cumulative aggregate indemnification
obligation of Purchaser under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1(c)(ii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall not exceed the
Cap, and the cumulative aggregate indemnification obligation of Purchaser under
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1(c)(i)-(ii)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall not exceed the Closing Purchase Price (as
adjusted hereunder), other than in respect of Losses arising as a result of
fraud.</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:12.05pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">If an Indemnified
Purchaser Party or an Indemnified Seller Party (each, an &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnified Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
believes that a claim, demand or other circumstance exists that has given or
may reasonably be expected to give rise to a right of indemnification under
this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, such Indemnified Party shall assert its claim for
indemnification by giving written notice thereof (a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Claim Notice</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) to
the Seller (if indemnification is sought from the Seller) or Purchaser (if
indemnification is sought from Purchaser) (in either such case, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnifying
Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) (i) if the event or occurrence giving rise to such claim for
indemnification is, or relates to, a claim, suit, action or proceeding brought
by a Person not a party to this Agreement or affiliated with any such party (a
&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Third Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), promptly following receipt of notice of such claim,
suit, action or proceeding by such Indemnified Party, or (ii) if the event or
occurrence giving rise to such claim for indemnification is not, or does not
relate to, a claim, suit, action or proceeding brought by a Third Party,
promptly after the discovery by the Indemnified Party of the circumstances
giving rise to such claim for indemnity; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that
any failure or delay in providing such notice shall not release the
Indemnifying Party from any of its obligations under this</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
except to the extent the Indemnifying Party is prejudiced by such failure or
delay. Each Claim Notice shall describe the claim in reasonable detail
including (i) the legal and factual basis of the claim, (ii) an estimate of the
amount of Losses which are, or are to be, the subject of the claim and (iii)
such other information as is reasonably necessary to enable the Indemnifying
Party to assess the merits of the claim (in each case in (i)-(iii), to the
extent then known or reasonably</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ascertainable).&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.05pt;margin-right:27.5pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">If any claim or demand
by an Indemnified Party under this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> relates to an action or
claim filed or made against an Indemnified Party by a Third Party, the
Indemnifying Party may, at its option, assume and control the defense of such
action or claim (including, subject to the remainder of this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1(e)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
any negotiation relating thereto and the settlement or compromise thereof) at
its sole cost and expense and with its own counsel (which counsel shall be
reasonably acceptable to the Indemnified Party), if the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnifying&nbsp;</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.25pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party elects to assume such defense within thirty (30) days of the
Claim Notice; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that an Indemnifying Party shall
not have the right to assume and control the defense of any criminal or
regulatory action or claim, any claim seeking non-monetary remedies, or any
claim where the portion of the claim for which the Indemnified Party would not
be indemnified is reasonably likely to exceed the portion of the claim for
which it would be indemnified. The parties shall cooperate in the defense of such
action or claim, and, unless and until the Indemnifying Party shall have so
assumed the defense of such action or claim, the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">reasonable&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.95pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">out-of-pocket
costs and expenses (including reasonable attorneys&#8217; fees) incurred by the
Indemnified Party in connection with the defense, settlement or compromise of
such claim or action shall be a Loss subject to indemnification hereunder to
the extent provided herein. Any Indemnified Party shall have the right to
employ separate counsel in any such action or claim and to participate in the
defense thereof, and the reasonable out-of-pocket costs and expenses incurred
by the Indemnified Party&#8217;s separate counsel in connection with the defense,
settlement or compromise of such claim or action shall be a Loss subject to indemnification
hereunder </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (i) the Indemnifying Party is not entitled to assume
and control the defense of such action or claim pursuant to this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
8.1(e)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or shall have failed within thirty (30) days after receipt of a
Claim Notice in respect of such action or claim to assume the defense of such
action or claim or to notify the Indemnified Party in writing that it will
assume the defense of such action or claim; (ii) the employment of such counsel
has been specifically authorized in writing by the Indemnifying Party at the
Indemnifying Party&#8217;s expense; (iii) the Indemnified Party&#8217;s counsel shall have
concluded that there is or may be a conflict of interest or one or more legal
defenses or counterclaims available to such Indemnified Party or to other
Indemnified Parties which are different from or additional to those available
to the Indemnifying Party such that it would be inappropriate or inadvisable in
the reasonable judgment of Indemnified Party&#8217;s counsel for the same counsel to
represent both the Indemnified Party and the Indemnifying Party;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(iv) the
Indemnifying Party ceases to diligently defend such Claims.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:12.0pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(f)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">No Indemnifying Party
shall be liable to indemnify any Indemnified Party for any compromise or
settlement of any action or claim effected without the prior written consent of
the Indemnifying Party (which consent shall not be unreasonably withheld or
delayed), but if settled with the consent of the Indemnifying Party, or if
there be final judgment for the plaintiff in any such action that the
Indemnified Party is required to pay by the court at the time paid, the
Indemnifying Party shall indemnify and hold harmless each Indemnified Party
from and against any Loss by reason of such settlement or judgment, subject to
the terms and conditions of this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#160; If the Indemnifying Party
shall assume the defense of any claim in accordance with the provisions of this
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, the Indemnifying Party shall obtain the prior written
consent of the Indemnified Party (which consent shall not be unreasonably
withheld or delayed) before entering into any settlement of such claim unless
(i) the relief consists solely of monetary damages to be paid entirely by the
Indemnifying Party (or a liability insurer thereof) (other than the Deductible,
if any, to be paid by the Indemnified Party), (ii) the settlement includes no
admission or finding of any violation of Law or admission of wrongdoing by the
Indemnified Party, and (iii) the settlement includes a provision whereby the
plaintiff or claimant releases the Indemnified Parties from all liability with
respect thereto. Each Indemnified Party shall make available to the
Indemnifying Party all information reasonably available to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:6.0pt;margin-left:11.0pt;margin-right:12.4pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnified
Party relating to such action or claim the provision of which would not, in the
reasonable judgment of the Indemnified Party, violate or jeopardize any
applicable attorney- client or other privilege. In addition, the parties shall
render to each other such assistance as may reasonably be requested in order to
help ensure the proper and adequate defense of any such action or claim. The
party in charge of the defense shall keep the other parties reasonably apprised
at all times as to the status of the defense or any settlement negotiations
with respect thereto.</font></p>

<p style="margin-bottom:6.0pt;margin-left:11.0pt;margin-right:11.65pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(g)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser and, after
the Closing, the Company shall take and shall cause its Affiliates to use
commercially reasonable efforts to mitigate any Loss for which any of them
could be entitled to indemnification under this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> upon
becoming aware of any event which would reasonably be expected to, or does
actually, give rise thereto, including incurring costs to the extent necessary
to remedy the breach which gives rise to such Loss (which costs, for the
avoidance of doubt, shall be considered</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Loss).&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:10.95pt;margin-right:13.8pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(h)</font><font color=#010000 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The amount which the
Indemnifying Party is or may be required to pay to any Indemnified Party
pursuant to this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall be reduced (retroactively, if
necessary) by any insurance proceeds or other amounts actually recovered by or
on behalf of such Indemnified Party in reduction of the related Loss, net of
any deductibles or other expenses incurred in connection therewith. If an
Indemnified Party shall have received the payment required by this Agreement
from the Indemnifying Party in respect of Loss and shall subsequently receive
insurance proceeds or other amounts in respect of such Loss, then such
Indemnified Party shall promptly repay to the Indemnifying Party a sum equal to
the amount of such net insurance proceeds or other net amounts actually
received. In calculating the amount of any Loss, there shall be deducted an
amount equal to any net Tax benefit actually realized (including, without
limitation, the utilization of a Tax loss or Tax credit carried forward) as a
result of such Loss by the Indemnified Party claiming such Loss in the taxable
year in which such Loss occurred (determined on a &#8220;with and without&#8221;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">basis).&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:10.95pt;margin-right:12.25pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">With respect to the
indemnification obligation set forth in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, in no event
shall (i) the Indemnifying Party have any liability to the Indemnified Party or
any of its Affiliates for any consequential, indirect, speculative, incidental,
special or punitive damages, except to the extent awarded to Third Party by a
court of competent jurisdiction, (ii) the Indemnified Party or any of its
Affiliates be entitled to recover from the Indemnifying Party under this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> more than once in respect of the same Loss; or (iii) the Indemnifying
Party be liable for any Loss which is contingent unless and until such
contingent Loss becomes an actual liability and is due and payable.</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:14.35pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(j)</font><font color=#010000 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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The indemnification
provided in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall be the exclusive remedy available to
any party hereto with respect to any breach of any representation, warranty,
covenant or agreement in this Agreement, or otherwise in respect of the
transactions contemplated by this Agreement or any claims relating to this
Agreement or any certificate delivered pursuant hereto, except (i) in the case
of fraud or willful misconduct, or with respect to matters for which the remedy
of specific performance, injunctive relief or other non-monetary equitable
remedies are available in accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.5</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, (ii) with respect
to Taxes</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(the&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:31.75pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">indemnification for which shall be governed exclusively by </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.9</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">), or (iii) as otherwise expressly provided in this Agreement.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:14.85pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.2&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Waiver;
Amendment</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Any provision of this Agreement may be
amended or waived if, and only if, such amendment or waiver is in writing and
signed, in the case of an amendment, by the parties hereto, or in the case of a
waiver, by the party or parties against whom the waiver is to be effective. No
failure or delay by any party in exercising any right, power or privilege hereunder
shall operate as a waiver thereof nor shall any single or partial exercise
thereof preclude any other or further exercise thereof or the exercise of any</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other right, power or privilege.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.65pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.3&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Entire
Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The Transaction Documents and the
Confidentiality Agreement represent the entire understanding of the parties
hereto with respect to the subject matter hereof and thereof and supersede any
and all other oral or written agreements heretofore</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">made.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:24.1pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.4&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Assignment</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. No party to this Agreement may assign any of its rights or
obligations under this Agreement (whether by operation of law or otherwise)
without the prior written consent of the other parties hereto. Any attempted or
purported assignment in contravention of this provision shall be null and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">void.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:24.45pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.5&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Specific
Performance</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The parties hereto agree that if any
of the provisions of this Agreement were not to be performed as required by
their specific terms or were to be otherwise breached, including, for the
avoidance of doubt, a breach of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.5</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, irreparable damage will
occur, no adequate remedy at law would exist and damages would be difficult to
determine, and that such parties shall be entitled, without the necessity of
posting a bond or other security, to an injunction or injunctions to prevent
breaches, and to specific performance of the terms, of this Agreement, in
addition to any other remedy at law or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">equity.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:19.95pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.6&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Counterparts</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. This Agreement may be executed in two or more counterparts
(including by facsimile, email or other electronic means such as &#8220;.pdf&#8221; or
&#8220;.tiff&#8221; files), each of which shall be deemed to constitute an original, but
all of which together shall be deemed to constitute one and the same</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">instrument.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.0pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.7&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notices</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. All notices and other communications hereunder shall be in writing
and shall be deemed duly given (a) on the date of delivery if delivered
personally, or if by facsimile, upon written confirmation of receipt by
facsimile, or otherwise, (b) on the first (1<sup>st</sup>) Business Day after
being sent if delivered utilizing a next-day service by an internationally
recognized overnight courier that issues a receipt or other confirmation of
delivery, (c) on the earlier of confirmed receipt or the third (3<sup>rd</sup>)
Business Day following the date of mailing if delivered by registered or
certified mail, return receipt requested, postage prepaid or (d) when
transmitted to the email address set out below, as applicable (</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
that no &#8220;error&#8221; message or other notification of non-delivery is generated).
All notices hereunder shall be delivered to the addresses set forth below, or
pursuant to such other instructions as may be designated in writing by the
party to receive such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">notice.&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:119.0pt;margin-right:0cm;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">If to Seller, to:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:144.35pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Banco Bilbao
Vizcaya Argentaria, S.A.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:144.35pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Calle Azul 4</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:248.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Madrid U3 28050</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:248.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Spain</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160; Victoria del
Castillo</font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Marchese;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:126.3pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Jacobo de
Nicol&#225;s de</font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Benito&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:126.3pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; victoria.castillo@bbva.com;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">jacobo.nicolas@bbva.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:132.05pt;margin-top:0cm;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">with a copy to (which shall not constitute notice):</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:191.0pt;margin-right:132.05pt;margin-top:0cm;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Sullivan &amp; Cromwell LLP</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:0cm;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">125 Broad
Street</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:178.55pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">New York, New
York 10004</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:178.55pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;
H. Rodgin</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">Cohen&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mitchell S.
Eitel</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">William D.
Torchiana</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Facsimile:&#160;&#160;&#160;&#160;&#160;&#160;
+1 (212) 291 9028</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">+1 (212) 291
9046</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">+33 1 7304 1010</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:128.7pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Cohenhr@sullcrom.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:298.95pt;margin-right:128.7pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Eitelm@sullcrom.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:298.95pt;margin-right:128.7pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Torchianaw@sullcrom.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:119.0pt;margin-right:0cm;margin-top:4.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">If to
Purchaser, to:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">PNC Bank, N.A.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:243.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Tower at
PNC</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:243.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">300 Fifth
Avenue</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Pittsburgh,
PA 15222</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mail Stop:
PT-PTWR-21-1</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:94.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:
Mergers &amp; Acquisitions </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">Department&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:94.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">david.williams@pnc.com&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with a copy
to:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:165.3pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PNC Bank,
National Association</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:165.3pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Tower at
PNC</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">300 Fifth
Avenue</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Pittsburgh,
PA 15222</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mail Stop:</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PT-PTWR-18-1&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:
Laura Long, Deputy General Counsel, M&amp;A</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">80</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
</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">

<DIV bclHeader>


<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:165.3pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Facsimile: +1 (412) 762-5988</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.05pt;margin-right:165.3pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">laura.long@pnc.com&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:132.05pt;margin-top:2.1pt;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">with a copy to (which shall not constitute notice):</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:191.0pt;margin-right:132.05pt;margin-top:2.1pt;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:25.5pt;">Wachtell, Lipton, Rosen &amp; Katz</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:0cm;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">51 West 52nd
Street</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:171.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">New York, New
York 10019</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:171.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;
Edward D.</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Herlihy&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:164.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Nicholas G.</font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Demmo&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:171.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Facsimile</font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">:&#160;&#160;&#160;&#160;&#160;&#160;
+1 (212) 403-2207</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">+1 (212) 403-2381</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:150.2pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">EDHerlihy@wlrk.com&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:298.95pt;margin-right:150.2pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">NGDemmo@wlrk.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.8&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Provisions&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Separable</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.0pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The provisions of this
Agreement shall be deemed severable and the invalidity or unenforceability of
any provision shall not affect the validity or enforceability of the other provisions
hereof. If any provision of this Agreement, or the application thereof to any
Person or entity or any circumstance, is found by a court or other Governmental
Authority of competent jurisdiction to be invalid or unenforceable, (a) a
suitable and equitable provision shall be substituted therefor in order to
carry out, so far as may be valid and enforceable, the intent and purpose of
such invalid or unenforceable provision and (b) the remainder of this Agreement
and the application of such provision to other Persons, entities or
circumstances shall not be affected by such invalidity or unenforceability, nor
shall such invalidity or unenforceability affect the validity or
enforceability, of such provision, or the application thereof, in any other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">jurisdiction.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:16.9pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Without limiting
generality of the foregoing, the parties acknowledge and agree that (i) the
covenants and agreements set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.8</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
were a material inducement to the parties to enter into this Agreement and to
perform their respective obligations hereunder, and (ii) if any portion of any
provisions in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.8</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> is held invalid or
unenforceable, the remaining provisions of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.8</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> will remain in full force and effect to the maximum extent permitted by</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Law.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.55pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.9&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Parties
in Interest</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. This Agreement will be binding upon,
inure to the benefit of and be enforceable by the parties hereto and their
respective successors and permitted assigns. Except as set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.18</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, nothing in this Agreement, express or implied, is intended to confer
any rights or remedies under or by reason of this Agreement upon any Person
other than the parties hereto and their successors or permitted</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">assigns.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:24.25pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.10&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Expenses</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as otherwise specifically provided in the Transaction
Documents, each party hereto will bear all expenses incurred by it in
connection with this Agreement and the transactions contemplated hereby (it
being understood and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">agreed&nbsp;</font></p>









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 <p align=center style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font style="mso-ansi-language:ES;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">81</font></font><font style="display:none;mso-hide:all;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">-</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_86"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.75pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">that all such expenses incurred by or on behalf of the Company, any
of its Subsidiaries or any of the Carve-Out Entities shall be the
responsibility of the Seller).</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:22.8pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.11&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Deadlines</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. If the last day of the time period for the giving of any notice or
the taking of any action required under this Agreement falls on a day that is
not a Business Day, the time period for giving such notice or taking such
action shall be extended through the Business Day immediately following the
original expiration date of such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">action.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.9pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.12&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Waiver
of Jury Trial</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. EACH PARTY HERETO HEREBY WAIVES
TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY OF THEM
AGAINST THE OTHER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT,
OR ANY OTHER AGREEMENTS EXECUTED IN CONNECTION HEREWITH, OR THE ADMINISTRATION
THEREOF OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN OR THEREIN. NO PARTY TO
THIS AGREEMENT SHALL SEEK A JURY TRIAL IN ANY LAWSUIT, PROCEEDING,
COUNTERCLAIM, OR ANY OTHER ACTION PROCEDURE BASED UPON, OR ARISING OUT OF, THIS
AGREEMENT OR ANY RELATED INSTRUMENTS OR THE RELATIONSHIP BETWEEN THE PARTIES.
NO PARTY WILL SEEK TO CONSOLIDATE ANY SUCH ACTION, IN WHICH A JURY TRIAL HAS
BEEN WAIVED, WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT
BEEN WAIVED. THE PROVISIONS OF THIS SECTION HAVE BEEN FULLY DISCUSSED BY THE
PARTIES HERETO, AND THESE PROVISIONS SHALL BE SUBJECT TO NO EXCEPTIONS. NO
PARTY HAS IN ANY WAY AGREED WITH OR REPRESENTED TO ANY OTHER PARTY THAT THE
PROVISIONS OF THIS SECTION WILL NOT BE FULLY ENFORCED IN ALL</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">INSTANCES.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.35pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.13&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Governing
Law; Consent to Jurisdiction</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The execution,
interpretation, and performance of this Agreement shall be governed by the laws
of the State of New York without giving effect to any conflict of laws
provision or rule (whether of the State of New York or any other jurisdiction)
that would cause the application of the law of any other jurisdiction other
than the State of New York. EACH PARTY HERETO, TO THE EXTENT IT MAY LAWFULLY DO
SO, HEREBY SUBMITS TO THE EXCLUSIVE JURISDICTION OF ANY COURT OF THE STATE OF
NEW YORK LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY AND THE U.S.
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AS WELL AS TO THE
JURISDICTION OF ALL COURTS FROM WHICH AN APPEAL MAY BE TAKEN OR OTHER REVIEW
SOUGHT FROM THE AFORESAID COURTS, FOR THE PURPOSE OF ANY SUIT, ACTION OR OTHER
PROCEEDING ARISING OUT OF SUCH PARTY&#8217;S OBLIGATIONS UNDER OR WITH RESPECT TO
THIS AGREEMENT OR ANY OF THE AGREEMENTS, INSTRUMENTS OR DOCUMENTS CONTEMPLATED
HEREBY (OTHER THAN THE CONFIDENTIALITY AGREEMENT), AND EXPRESSLY WAIVES ANY AND
ALL OBJECTIONS IT MAY HAVE AS TO VENUE IN ANY OF SUCH COURTS. The</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">parties&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereby consent
to and grant any such court jurisdiction over the person of such parties and,
to the extent permitted by Law, over the subject matter of such dispute and
agree that mailing of</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.15pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">process or other papers in connection with any such action or
proceeding in the manner provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or in such other manner
as may be permitted by Law shall be valid and sufficient service thereof.
Nothing in this Agreement will affect the right of any party to this Agreement
to serve process in any other manner permitted by Law.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:21.15pt;margin-top:0cm;text-indent:72.0pt;"><font color=#010000 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.14&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Waiver
of Force Majeure Event</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Each party hereby waives
any force majeure, impossibility, impracticability, frustration of purpose or
similar defenses against non-performance under common law or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">otherwise.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">[</font></b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Remainder of page left intentionally blank</font></i><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">]&nbsp;</font></b></p>

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<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;text-indent:72.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">IN WITNESS WHEREOF, this Agreement has been executed on
behalf of each of the parties hereto as of the date first above written.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">BANCO BILBAO VIZCAYA ARGENTARIA, S.A.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">By:&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">/s/
Victoria del Castillo Marchese</font></u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">_________&nbsp;</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:14.4pt;text-autospace:ideograph-other;"><br>
</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">&nbsp;&nbsp;&nbsp;&nbsp;Name:
Victoria del Castillo Marchese</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:14.4pt;text-autospace:ideograph-other;"><br>
</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">&nbsp;&nbsp;&nbsp;&nbsp;Title:
Global Head of Strategy and M&amp;A</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">THE PNC FINANCIAL SERVICES
GROUP, INC.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;"><br>
By:&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">/s/ Bill Demchak</font></u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">______________________&nbsp;</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:14.4pt;text-autospace:ideograph-other;"><br>
</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">&nbsp;&nbsp;&nbsp;&nbsp;Name:
William S. Demchak</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:14.4pt;text-autospace:ideograph-other;"><br>
</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:14.4pt;text-autospace:ideograph-other;">&nbsp;&nbsp;&nbsp;&nbsp;Title:
President and Chief Executive Officer</font></p>

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

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









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ANNEX A</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Requisite Regulatory Approvals</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:26.0pt;margin-right:0cm;margin-top:8.95pt;text-indent:-15.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">1.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Termination or
expiration of any mandatory waiting period under the HSR</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Act.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.9pt;margin-top:9.05pt;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">2.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">U.S. bank regulatory
approvals or non-objection notices in respect of the Stock Sale and the
post-Closing combination of the Bank with PNC Bank, National Association,
including from</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the:&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:83.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">a.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Alabama State Banking</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Department&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:83.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">b.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Federal Reserve</font></p>

<p style="margin-bottom:0cm;margin-left:83.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">c.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OCC&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:61.65pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">3.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Other approvals or
non-objections in respect of the Transactions from the following Governmental</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Authorities:&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:83.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">a.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In connection with the
BSI</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transfer:&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-15.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">i.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">FINRA&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:118.95pt;margin-right:23.05pt;margin-top:0cm;text-indent:-18.7pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ii.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The state securities
regulators in Florida, Kentucky, New Mexico,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.75pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">South Dakota and West</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Virginia&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:83.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">b.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In connection with the
money transmitter, BBVA Transfer Services,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Inc.:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:119.0pt;margin-right:36.0pt;margin-top:0cm;text-indent:-15.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">i.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">State financial
regulators in the 50 states and the District of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Columbia (other than Montana, which does not regulate money
transmitter businesses)</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:83.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">c.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In connection with the
insurance agency, BBVA Insurance Agency,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Inc.:&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-15.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">i.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Texas Department of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Insurance&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:83.0pt;margin-right:51.85pt;margin-top:0cm;text-indent:-18.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">d.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In connection with
Simple Finance Technology Corp.&#8217;s consumer finance licensing:</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-15.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">i.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.75pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">New Jersey Department of Banking and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;line-height:13.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">Insurance&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:83.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">e.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In connection with
Bank&#8217;s premium finance</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">license:&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-15.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">i.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Texas Department of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Insurance&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ANNEX B</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transitional Services Agreement</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>














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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin:0cm;margin-bottom:.0001pt;margin-left:0cm;margin-right:10.9pt;margin-top:3.9pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">FINAL FORM</font></p>

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

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:10.8pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">CONFIDENTIAL</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:18.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;margin-right:89.95pt;margin-top:0cm;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">NO AGREEMENT, ORAL OR WRITTEN, REGARDING OR RELATING
TO ANY OF THE MATTERS COVERED BY THIS DRAFT AGREEMENT HAS BEEN ENTERED INTO
BETWEEN THE PARTIES. THIS DOCUMENT, IN ITS PRESENT FORM OR AS IT MAY BE
HEREAFTER REVISED BY ANY PARTY, WILL NOT BECOME A BINDING AGREEMENT OF THE
PARTIES UNLESS AND UNTIL IT HAS BEEN SIGNED BY ALL PARTIES. THE EFFECT OF THIS
LEGEND MAY NOT BE CHANGED BY ANY ACTION OF THE PARTIES.</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;margin-right:89.95pt;margin-top:0cm;"><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&nbsp;</font></u></p>

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:132.6pt;margin-right:132.55pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">TRANSITIONAL SERVICES AGREEMENT BY AND
BETWEEN</font></p>

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:.05pt;text-align:center;"><b><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">BANCO BILBAO VIZCAYA ARGENTARIA, S.A.</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><b><font face="Times New Roman,serif" lang=ES style="font-size:11.5pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AND</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE PNC FINANCIAL
SERVICES GROUP, INC.</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.2pt;margin-top:10.65pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">dated as of [&#9679;]</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>









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<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:3.8pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TABLE OF CONTENTS</font></b></p>

<p align=right style="margin:0cm;margin-bottom:.0001pt;margin-right:10.9pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-decoration:none;">&nbsp;</font></p>

<p align=right style="margin:0cm;margin-bottom:.0001pt;margin-right:10.9pt;text-align:right;"><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Page</font></u></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:7.75pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE I</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.1pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">DEFINITIONS</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 1.1</font></b></p>
  </td>
 <td nowrap width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">General</font></p>
  </td>
 <td nowrap width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">4</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=16% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 1.2</font></b></p>
  </td>
 <td nowrap width=77% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Interpretation; Construction</font></p>
  </td>
 <td nowrap width=7% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">5</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:211.45pt;margin-right:211.4pt;margin-top:11.9pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">ARTICLE II</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:211.5pt;margin-right:211.5pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">SERVICES</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Services.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">5</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Standard of Service.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">5</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.3</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Additional Services</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">6</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.4</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Change in Services</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">6</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.5</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Transitional Nature of
  Services.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">6</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.6</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Transition Service
  Representative.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">7</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.7</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">TSA Committee.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">7</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.8</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Compliance with Laws; License
  and Permits</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">7</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.9</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Limitation on Services.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">7</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.10</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Information From Service
  Provider; No Duty of Verification</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">8</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.11</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Emergency Maintenance and
  Shutdowns.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">8</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:211.45pt;margin-right:211.4pt;margin-top:12.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">ARTICLE III</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:211.5pt;margin-right:211.5pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">PAYMENT</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">General.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">8</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Withholding.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">9</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.3</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Invoices.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">9</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.4</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Failure to Pay; Interest.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">10</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.5</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Access to Records.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">10</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.6</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Compliance with Data Privacy Laws;
  Cyber-Security.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">11</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:12.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">ARTICLE IV</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">INDEMNIFICATION; LIMITATION OF LIABILITIES</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Indemnification by Service
  Provider</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">11</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Indemnification by Service
  Recipient.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">11</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.3</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Limitation of Liability;
  Mitigation.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">12</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.4</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Claims Procedures.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">13</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.5</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Third-Party IP Matters</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">14</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.6</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Survival of Indemnification
  Obligations</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">14</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;line-height:13.75pt;">&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section
  4.7</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Disclaimer of Warranties.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">14</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.8</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Exclusive Remedy</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">15</font></p>
  </td>
 </tr>
</table></div>



<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:11.9pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE V</font></p>

<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:13.85pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">COOPERATION; ACCESS;
CONFIDENTIALITY; OWNERSHIP OF DATA</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Cooperation.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">15</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">IT Security.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">16</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.3</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Intellectual Property.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">17</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.4</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Confidentiality</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">18</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:center;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">ARTICLE VI</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">TERM; TERMINATION</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 6.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Term and Service Termination
  Dates.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">18</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 6.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Suspension Due to Force
  Majeure.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">20</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 6.3</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Effect of Termination;
  Survival.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">21</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 6.4</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Return or Destruction of
  Information.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">21</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:center;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">ARTICLE VII</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">DISPUTE RESOLUTION</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 7.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Negotiation</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">21</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:center;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">ARTICLE VIII</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">MISCELLANEOUS</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Notices</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">21</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Amendment; Waiver</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">23</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.3</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Assignment.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">24</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.4</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Third Party Beneficiaries</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">24</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.5</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Expenses</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">24</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.6</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Entire Agreement</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">24</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.7</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Fulfillment of Obligations.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">24</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.8</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">GOVERNING LAW AND VENUE;
  WAIVER OF JURY TRIAL</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">24</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.9</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Counterparts</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">25</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.10</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Severability.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">25</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.11</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Specific Performance.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">26</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.12</font></b></p>
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 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Relationship of Parties</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">26</font></p>
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<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:11.45pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">2</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SCHEDULES</font></b></p>

<p style="margin:0cm;margin-bottom:.05pt;margin-left:0cm;margin-right:0cm;margin-top:.3pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:8.85pt;width:100%;">
 <tr style="height:13.5pt;">
  <td valign=top width=16% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:2.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.55pt;">Schedule A</font></b></p>
  </td>
 <td valign=top width=75% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:7.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.55pt;">Services Provided by Service Provider to
  Service Recipients</font></p>
  </td>
 <td valign=top width=9% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;margin-right:2.3pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.55pt;">A-1</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=16% style="height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:2.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.8pt;">Schedule B</font></b></p>
  </td>
 <td valign=top width=75% style="height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:7.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.8pt;">Initial Transition Service
  Representatives</font></p>
  </td>
 <td valign=top width=9% style="height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;margin-right:2.95pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.8pt;">B-1</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=16% style="height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:2.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.8pt;">Schedule C</font></b></p>
  </td>
 <td valign=top width=75% style="height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:7.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.8pt;">Excluded Services</font></p>
  </td>
 <td valign=top width=9% style="height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;margin-right:2.95pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.8pt;">C-1</font></p>
  </td>
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<tr style="height:13.5pt;">
  <td valign=top width=16% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:2.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.55pt;">Schedule D</font></b></p>
  </td>
 <td valign=top width=75% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:7.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.55pt;">Data Processor Obligations</font></p>
  </td>
 <td valign=top width=9% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;margin-right:2.35pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.55pt;">D-1</font></p>
  </td>
 </tr>
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<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">3</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:114.65pt;margin-right:0cm;margin-top:3.9pt;"><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TRANSITIONAL SERVICES AGREEMENT</font></u></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.15pt;margin-top:4.45pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">This TRANSITIONAL SERVICES AGREEMENT (this &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) is
made and entered into as of [&#9679;] (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effective Date</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), by and
between Banco Bilbao Vizcaya Argentaria, S.A., a </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">sociedad an&#243;nima </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">organized
under the laws of the Kingdom of Spain (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), and The PNC Financial
Services Group, Inc., a corporation organized under the laws of Pennsylvania (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;).
Seller and Purchaser are each referred to herein individually as a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
and collectively as the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Parties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#8221;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">W I T N E S S E T H:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:13.5pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WHEREAS, Seller has entered into that certain Stock Purchase
Agreement, dated as of November 15, 2020 (as it may be amended or modified from
time to time, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchase&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), with Purchaser, whereby
Seller will sell, and Purchaser will purchase, the all the issued and
outstanding shares of capital stock of BBVA USA Bancshares, Inc., a corporation
organized under the laws of the state of Texas (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) and a
financial holding company conducting its business operations primarily through
its commercial banking subsidiary BBVA USA, an Alabama-chartered bank (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Bank</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;),
upon the terms and subject to the conditions set forth in the Purchase
Agreement (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transaction</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;);&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WHEREAS, pursuant to the Purchase Agreement, Seller and Purchaser
agreed to duly execute a Transitional Services Agreement substantially in the
form of Exhibit B to the Purchase Agreement at the Closing;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.75pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WHEREAS, in connection with the Transaction, and in order to ensure
an orderly transition under the Purchase Agreement, following the Closing,
Seller shall, and shall cause any Service Provider (as defined herein) to
provide to Company, Bank, BBVA Transfer Services, Inc. (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">BTS</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) and any
other subsidiaries of the Bank that, according to past practice, is receiving
the Services (as defined below) following the Closing (each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service
Recipient</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) the Services as described herein for a transitional period;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:14.5pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WHEREAS, each of the Parties understands that the Services provided
hereunder are transitional in nature and are furnished for the purpose of
facilitating the Transaction; and</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">NOW, THEREFORE, the Parties hereto, in consideration of the premises
and the mutual covenants contained herein, agree as follows:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:205.3pt;margin-right:205.25pt;margin-top:0cm;text-align:center;text-indent:-.1pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">ARTICLE I</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:205.3pt;margin-right:205.25pt;margin-top:0cm;text-align:center;text-indent:-.1pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">DEFINITIONS</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">Section 1.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">General</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">. As used in this Agreement, all capitalized terms</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;line-height:11.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">not&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:53.75pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">otherwise
defined herein shall have the meanings assigned to such terms in the Purchase
Agreement.</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.1pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">4</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:61.25pt;margin-top:3.9pt;text-indent:67.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
1.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Interpretation;
Construction</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Section 1.2
of the Purchase Agreement shall apply to this Agreement </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">mutatis&nbsp;</font></i><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font></i><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">mutandis.&nbsp;</font></i></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:211.45pt;margin-right:211.45pt;margin-top:0cm;text-align:center;"><a name="_TOC_250002"></a><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">ARTICLE II</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:211.45pt;margin-right:211.45pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">SERVICES</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Section 2.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">. On the terms and subject to the conditions set forth</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;line-height:11.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">in&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.85pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">this Agreement,
Seller shall provide, or cause to be provided, to the applicable Service
Recipient each service specified in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,<sup>1</sup> as such </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule
A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> may be supplemented or modified from time to time in accordance with the
provisions of this Agreement (each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; and collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
for the term in accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. At its option, Seller
may cause any Service it is required to provide hereunder to be provided (i) by
one or more of its Affiliates (an &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Affiliate Service Provider</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;, and
together with Seller, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Provider</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) or</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:14.4pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to the extent
consistent with past practice or any change therein generally applicable to
similar services provided to Service Provider&#8217;s Affiliates, by any contractor,
subcontractor, vendor or other third party (a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Third-Party Service Provider</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;);
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that Service Provider shall at all times remain responsible for
the performance of, or failure to perform, the Services</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in accordance with the terms of this Agreement, and Service
Provider shall be liable for any breach of this Agreement by its</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">subcontractors.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Standard
of</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:16.5pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In performing each
Service (subject to the terms and conditions of such Service set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule
A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">), Service Provider shall provide, or cause to be provided, substantially
the same level of service and use substantially the same degree of care as its
personnel provided and used in providing such Service during the twelve
(12)-month period preceding the Effective Date, and in no event shall Service
Provider have an obligation to perform any Service in any other manner or
quality (enhanced, increased or otherwise). Purchaser shall, and shall cause
the Service Recipient[s] to, provide reasonable assistance to Service Provider
in order to receive such Service. Purchaser agrees that all the Services shall
be for the sole use and benefit of Service Recipient[s] and not any other
Affiliate[s] of Purchaser and solely for the purpose of conducting the business
of the Service Recipient[s] in a manner substantially consistent with the
manner in which it was conducted in the twelve (12)-month period preceding the
Effective</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Date.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:26.95pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding
anything to the contrary contained in this Agreement, with respect to any
Service, (i) Service Provider shall not be bound to apply a standard of care
higher than the standard which Service Provider customarily applies in its own
affairs</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.1pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii) Service
Provider may, in its sole discretion, (A) perform or cause its Affiliates to
perform such Service substantially consistent with any improved or enhanced
practice as Service Provider deems reasonably prudent and (B) with respect to
any Service that is provided by Service</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:0cm;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">_________________________________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:46.95pt;margin-right:39.1pt;margin-top:3.6pt;text-indent:-36.0pt;"><sup><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1</font></sup><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;">Note to Draft: </font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Schedule A is a sample
schedule, which is to be revised and agreed between the parties from signing to
closing.</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">5</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.75pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Provider to other segments of its own business, otherwise make
changes from time to time in the manner in which such Service is provided </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">so&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">long&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">as&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (1) Service Provider is making similar changes in the
manner in which such Service is provided for its own businesses in good faith,</font></p>

<p style="margin-bottom:0cm;margin-left:28.0pt;margin-right:0cm;margin-top:0cm;text-indent:-17.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">(2)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.75pt;">&nbsp;&nbsp; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">Service Provider consults in good faith
with Purchaser with respect to such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.95pt;line-height:13.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">change,&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:13.6pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(3)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Provider
furnishes to Purchaser a notice in advance which shall describe such change to
be made and any increase in the Service Fee (as defined below) related thereto
and (4) Purchaser agrees to pay such increased Service Fee; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
that if Purchaser does not agree to the increased Service Fee (if any) set
forth in the notice required by this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.2(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> within thirty (30)
days from receipt of notice, neither Service Provider nor any of its Affiliates
shall have any obligation to provide the applicable Service thereafter, either
as modified or as in existence immediately prior to such change; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">further</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that no such increase shall exceed 10% of the relevant Service
Fees in effect as of immediately prior to such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">change.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.9pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.3&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Additional Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. If, at any time during the term of this Agreement, a Service
Recipient identifies in writing a service that such Service Recipient desires
to obtain from Service Provider that (a) is not listed on </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and
(b) Service Provider has previously provided to the Service Recipient as part
of Service Provider&#8217;s ordinary course of business consistent with past practice
and such Service Recipient reasonably needs such service in order for such
Service Recipient to continue to operate its business in substantially the same
manner in which it was operated in the twelve (12) months preceding the Closing,
then the Parties shall negotiate in good faith mutually agreeable terms and
conditions (which shall be consistent with the terms of this Agreement and past
practice, including with respect to fees to be paid by Purchaser or such
Service Recipient to Service Provider for the provision of such requested
services, which shall be calculated consistent with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (such
additional services, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Additional Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;); </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
that Service Provider shall have no obligation to agree to provide any such
Additional Services that are listed on </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule C</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> as Excluded Services.
Any such Additional Services so provided by Service Provider shall constitute a
Service under this Agreement and be subject in all respects to the provisions
of this Agreement as if fully set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> as of the date</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereof.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.6pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.4&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Change in Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Subject to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.2(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, each of the Parties shall be
entitled to request modifications or amendments to the Services provided
hereunder, or to the terms and conditions of any Service as set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule
A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and if so requested, the Parties shall negotiate in good faith mutually
agreeable modifications or amendments (including with respect to fees to be
paid by Purchaser or such Service Recipient to Service Provider for the
provision of such services as modified or amended); </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
that no Party shall have any obligation to agree to any such modification or
amendment. In the event that Service Provider and Purchaser, each in its sole
discretion, mutually agree in writing to any such modification or amendment,
such Service as so modified or amended shall constitute a Service under this
Agreement and be subject in all respects to the provisions of this Agreement as
if fully set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> as of the date</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereof.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:14.95pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.5&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transitional Nature
of Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The Parties acknowledge the
transitional nature of the Services. Accordingly, as promptly as practicable
following the execution of this Agreement, Purchaser agrees to use, and cause
[each][the] Service Recipient[s] to use, its commercially reasonable efforts to
transition each Service to its own</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">internal&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:5.95pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">6</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.85pt;margin-top:3.9pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">organization or, to the extent that such
Service is not intended to be provided by its own internal organization, to obtain
alternate services from a third party by the Termination Date (as defined below
in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">) corresponding to each Service, as set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule
A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.2pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.6&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transition Service
Representative</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The Parties shall each appoint two
(2) representatives (each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transition Service Representative</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) to
facilitate communications and performance under this Agreement. Each Party may
treat an act of a Transition Service Representative of another Party as being
authorized by such other Party without inquiring behind such act or
ascertaining whether such Transition Service Representative had authority to so
act. Each Party shall have the right at any time and from time to time to
replace its Transition Service Representative by giving notice in writing to
the other Party. The initial Transition Service Representative of each Party is
set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">B</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.4pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.7&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TSA Committee</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. A committee (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TSA Committee</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), consisting initially of
the Parties&#8217; Transition Service Representatives, will meet periodically to
confer and act reasonably as may be necessary to coordinate the provision of
Services. Such meetings shall occur on dates and times as the parties may in
good faith agree from time to time, or as the parties may otherwise agree. No
decision of the TSA Committee may be made without at least one (1) Transition
Service Representative from each Party being present at a meeting. For the
avoidance of doubt, the TSA Committee shall not have the right to amend this
Agreement in any manner.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.5pt;margin-top:4.5pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.8&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Compliance with Laws;
License and Permits</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Each Party shall be
responsible for its own compliance with any and all Laws applicable to its
performance under this Agreement; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that Purchaser shall, and
shall cause the Service Recipient[s] to, comply with the reasonable and
applicable standard operating procedures and policies of Service Provider
specifically relating to the Services provided hereunder, as may be specified
in writing to Purchaser and the Service Recipient[s] by Service</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Provider.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.9&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Limitation on</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.9pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding
anything to the contrary contained herein, Service Provider shall have no
obligation under this Agreement to provide any Service if the provision of such
Service (i) would violate any Law, (ii) would result in a breach by Service
Provider or any of its Affiliates of any Contract to which it is subject or any
other violations of Third Party&#8217;s rights (provided that Seller shall have used
commercially reasonable efforts to obtain any consent or approval required to
avoid such breach or violation) or (iii) would result in the disclosure of
information subject to any applicable privileges (including the attorney-client
or similar privilege) or confidentiality obligations (including restrictions on
the sharing of confidential supervisory information) (provided, however, that
in any such situation, the parties shall use commercially reasonable efforts to
make other arrangements that would enable such Service to be provided without
contravening such privilege or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">obligation).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:29.05pt;margin-top:0cm;text-align:justify;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subject to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
2.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, Service Provider shall have the right, in its sole discretion, to (i)
designate which personnel it will assign to perform a Service and (ii)</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">remove and replace such personnel at any
time and without notice to Purchaser or the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:11.3pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">7</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.9pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Recipient[s]. In performing their respective duties hereunder, all
such personnel of Service Provider and its applicable Affiliates shall be under
the direction, control and supervision of Service Provider or such Affiliates,
and Service Provider or such Affiliates shall have the sole right to exercise
all authority with respect to the employment (including termination or
suspension of employment), engagement, assignment and compensation of such
personnel, as applicable. For the avoidance of doubt, neither Service Provider
nor any of its Affiliates shall have any obligations to retain or provide
incentives to any particular employee or any particular - Third-Party Service
Provider or to employ additional personnel in order to provide any Services.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
2.10&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Information From Service Provider; No
Duty of</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Verification</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.5pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service
Provider shall not be liable for any impairment of any Service caused by its
not receiving information or access to persons and documents or required
decisions on the part of Service Recipient, either timely or at all, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
that Service Provider has notified Service Recipient&#8217;s Transition Service
Representative of such failure to receive such information, access or decision
and the impact of such failure on Service Provider&#8217;s provision of the Services,
or by its receiving inaccurate or incomplete information from Service Recipient
that is required or reasonably requested by Service Provider. Service Provider
shall not have any responsibility for verifying the accuracy or completeness of
any information given to it by or on behalf of Service Recipient for the
purpose of providing any</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.11&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Emergency Maintenance and</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Shutdowns.&nbsp;</font></u></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.9pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">If Service Provider
determines that it is necessary to temporarily suspend a Service due to
emergency maintenance, modification, repairs, alterations or replacements (any
such event, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Shutdown</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), Service Provider shall use commercially
reasonable efforts to (i) provide Purchaser with reasonable prior notice of
such Shutdown (including reasonable information regarding the nature and the
projected length of such Shutdown), unless it is not reasonably practicable
under the circumstances to provide such prior notice, in which case Service
Provider shall provide notice as soon as reasonably practicable and (ii)
restart the Service as soon as reasonably practicable.&#160; In no event shall
Service Provider discriminate against Service Recipient relative to its own
businesses receiving similar services in connection with such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">actions.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:19.5pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In the event the
obligations of Service Provider to provide any Service shall be suspended in
accordance with this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.11</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and Service Provider has used
commercially reasonable efforts to avoid or mitigate the impact of such
Shutdown, Service Provider shall not have any liability to Purchaser or the
applicable Service Recipient arising out of or relating to such suspensions of
Service Provider&#8217;s provision of such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:180.3pt;margin-right:180.3pt;margin-top:0cm;text-align:center;"><a name="_TOC_250001"></a><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE III</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:180.25pt;margin-right:180.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">PAYMENT</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">Section 3.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">General</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">. In consideration of the provision of the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;line-height:11.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">Services,&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.15pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser shall,
or shall cause [one of] the Service Recipient[s] to, pay to Service Provider
(a) a service fee for each such Service (all such fees with respect to each
Service, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Fee</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;,&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:11.35pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">8</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:17.1pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and collectively for all Services, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Fees</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) in the
amount equal to the fee set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> with respect to such
Service, which amounts reflect the cost of providing such Services, are
consistent with past practice, and the corresponding costs are consistent with
those reflected in the Financial Statements, (b) any additional reasonable
out-of-pocket costs or expenses, including postage and other delivery costs,
telephone, telecopy and similar expenses, incurred by Service Provider, any of
its Affiliates or any Third-Party Service Provider related to the provision of
such Service hereunder and any payments or costs that would otherwise not be
incurred but for the provision of the Services hereunder in connection with any
ongoing license, grant or provision of rights or services and (c) any
applicable value added, goods and services, sales, use, consumption, excise,
service, transfer, stamp, documentary, filing, recordation Taxes or similar
Taxes (a Tax shall not be considered to be similar if it is imposed on net or
gross income) that may be imposed with respect to the provision of the Services
hereunder.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.85pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Withholding</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Purchaser and each Service Recipient shall be entitled to deduct
and withhold from any payments hereunder such amounts as are required to be
deducted and withheld pursuant to applicable Tax Law. The Parties shall
reasonably cooperate with each other in order to eliminate or to reduce any
such deduction or withholding, including providing forms or other evidence that
would mitigate, reduce or eliminate such deduction or withholding.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:4.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.3&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Invoices</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.95pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">All payments shall be
made by Purchaser or [one of] the Service Recipient[s] within thirty (30) days
(a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Payment Period</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) after receipt of an invoice therefor. Service
Provider shall send invoices on a monthly basis for payments to be made under
this Agreement. If any Service is terminated in accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
and such termination is effective prior to the last day of any calendar month,
the amount due for such Service for such final month will be pro-rated based on
the number of days in such month prior to the effectiveness of such
termination. Such invoices shall specify the costs and expenses to be
reimbursed by Purchaser or [one of] the Service Recipient[s] and enclose any
invoices from the relevant third parties.&#160; All payments made by Purchaser or
[one of] the Service Recipient[s] under this Agreement shall be by wire
transfer of immediately available funds of the payment amount to Service
Provider&#8217;s account identified in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> attached hereto or other
account notified in writing by Service Provider to Purchaser or Service
Recipient, as applicable. All such payments shall be effective upon</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">receipt.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.5pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser shall, or
shall cause [one of] the Service Recipient[s] to, pay Service Provider the full
amount due on any invoice and other amounts required to be paid by Purchaser
under this Agreement and shall not set-off any amount; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that the
Service Recipient may withhold payments for any portion(s) of amounts alleged
to be due that it disputes in good-faith.&#160; In the event Purchaser disputes in
good faith any portion of the amount due on any invoice, then Purchaser shall,
or shall cause [one of] the Service Recipient[s] to, pay any undisputed amount
in accordance with this ARTICLE III, but shall notify Service Provider in
writing of the nature and basis (in reasonable detail) of the dispute
concurrently with or prior to the date that such payment is due. If no
notification is provided to Service Provider in accordance with the immediately
preceding sentence, the invoiced amount shall be deemed to</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">be&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:7.65pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">9</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.1pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">accurate and correct and shall not be subject to dispute or contest
by either Party or any Affiliate thereof. In the event notification is so
provided to Service Provider, the Parties shall use their commercially
reasonable efforts to resolve the dispute promptly. There shall be no right of
set- off or counterclaim with respect to any claim, debt or obligation against
payments to Service Provider under this Agreement; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that the
Service Recipient may net any amount payable to Service Provider under this
Agreement against any amount that Service Provider is obligated to pay or
transmit to the Service Recipient pursuant to the Services.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:13.5pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.4&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Failure to Pay;
Interest</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Any amounts not received by Service
Provider within the applicable Payment Period shall be subject to a late
payment fee computed daily at a rate equal to [the prime lending rate as quoted
in the </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Wall Street Journal </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">on the last Business Day of the month of such
overdue invoice per annum plus two-hundred (200) basis points] from the due
date of such amount to the date such amount is paid in full. Purchaser agrees
to pay, or cause [one of] the Service Recipient[s] to pay, Service Provider&#8217;s
reasonable attorneys&#8217; fees and other costs incurred in collection of any
amounts owed to Service Provider hereunder and not paid when due.
Notwithstanding anything to the contrary contained herein, in the event
Purchaser or such Service Recipient fails to make a payment of any amount when
due hereunder, and such failure continues for a period of sixty (60) days
following delivery of notice to Purchaser or such Service Recipient in receipt
of the applicable Service of such failure, Service Provider shall have the
right to suspend provision of all Services to Service Recipients until such
overdue payment (and any applicable late payment fee accrued with respect
thereto) is paid in full. Such right of Service Provider shall not in any
manner limit or prejudice any of Service Provider&#8217;s other rights or remedies as
provided in this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.5&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Access to</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Records</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.6pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each Party shall, in
accordance with its respective generally applicable recordkeeping policies and
procedures, keep reasonable books and records of all Services for the other
Party to verify all charges made under this Agreement and to comply with
applicable Law. Each Party shall, upon the other Party&#8217;s reasonable request and
at such requesting Party&#8217;s sole cost and expense, make such books and records available
to such requesting Party, upon reasonable notice and during normal business
hours for the sole purpose of verifying any charges made hereunder or complying
with any applicable Law (other than in connection with a dispute, claim or
litigation between Service Provider and Purchaser or any Affiliate of Service
Provider or Purchaser). Nothing in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.5</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall require any
Party to maintain its books and records relating to any Services in connection
with this Agreement indefinitely or in a manner, or for a length of time,
inconsistent with the manner or length of time that it generally maintains its
books and records with respect to its other businesses. If any access request
reveals an overpayment by any Service Recipient, Service Provider will promptly
refund the amount of such overpayment. If any access request reveals an
underpayment by any Service Recipient, such Service Recipient will promptly pay
to Service Provider the amount of such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">underpayment.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:24.95pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Upon Purchaser&#8217;s
request, Seller shall provide copies of all periodic independent third-party or
internal audits or certifications performed in respect of Seller&#8217;s data center</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">locations.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:14.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">10</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:4.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
3.6&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Compliance with Data Privacy Laws;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Cyber-Security.&nbsp;</font></u></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:14.2pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each Party shall comply
in all material respects with all Applicable Laws related to the collection,
use and security of data in connection with the provision or receipt of
Services pursuant to this Agreement. If any Party has access to or receives
Personal Information data pursuant to this Agreement, it shall only use the
data to the extent strictly necessary for the performance of such Party's
obligations under this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.55pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each Party shall
maintain commercially reasonable administrative, technical and physical safeguards
for all confidential information, including Personal Information, disclosed to,
accessed or obtained by such Party in connection with this Agreement
(collectively, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Protected Information</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), consistent with such Party&#8217;s
past practice, to (a) restrict the use and disclosure of such Protected
Information within Service Provider to those individuals performing actions in
connection with this Agreement or as required by Applicable Law, (b) ensure the
security and confidentiality of Protected Information, (c) protect against any
anticipated threats or hazards to the security or integrity of Protected
Information, and (d) protect against unauthorized access to or use of Protected
Information. If a Party becomes aware of any actual or suspected security breach
such Party or any of its subcontractors suffers or learns of, that either
compromises or could reasonably compromise any Protected Information of the
other Party (including but not limited to physical trespass of a secure
facility, computing systems intrusion/hacking, loss/theft of a computer or
personal computer, loss/theft of printed material, etc.) (collectively, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Security
Breach</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), to the extent permitted by Applicable Law, such Party will
promptly notify the other Party of such Security Breach and will take
reasonable actions to investigate and remediate the Security</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Breach.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><a name="_TOC_250000"></a><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE IV</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">INDEMNIFICATION; LIMITATION OF LIABILITIES</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">Section 4.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">Indemnification by
Service Provider</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">. Subject to the limitations</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;line-height:11.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">set&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:17.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
4.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and the other provisions of this Agreement, Service Provider agrees to
indemnify, defend and hold harmless [each][the] Service Recipient, [their][its]
respective Affiliates and their respective officers, directors, employees,
agents, successors and assigns (each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Recipient Indemnified
Person</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;, and collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Recipient</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnified
Persons</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) from and against, and shall reimburse the Service Recipient
Indemnified Persons for, all Losses actually sustained, incurred or suffered by
any Service Recipient Indemnified Person to the extent resulting from, arising
out of or relating to (a) Service Provider&#8217;s breach of this Agreement, or (b)
the gross negligence, willful misconduct or fraud of any Service Provider
Indemnified Person (as defined below) in connection with its performance of
obligations under this Agreement, other than Losses resulting from, arising out
of or relating to any Service Recipient Indemnified Person&#8217;s gross negligence,
willful misconduct, fraud or breach of its obligations pursuant to this
Agreement.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:17.3pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnification by
Service Recipient</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Subject to the limitations set
forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and the other provisions of this Agreement,
Purchaser, on behalf of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">itself&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:9.45pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">11</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.45pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and the Service Recipient[s], agrees to indemnify, defend and hold
harmless each of Service Provider, its Affiliates and their respective
officers, directors, employees, agents, successors and assigns (each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service
Provider Indemnified Person</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;, and collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Provider</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnified Persons</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) from and against, and shall reimburse the Service
Provider Indemnified Persons for, all Losses actually sustained, incurred or
suffered by any Service Provider Indemnified Person to the extent resulting
from, arising out of or relating to (a) Service Recipient&#8217;s breach of this
Agreement, or (b) any Service Recipient Indemnified Person&#8217;s gross negligence,
willful misconduct or fraud in connection with its performance of obligations
under this Agreement, other than Losses resulting from, arising out of or
relating to any Service Provider Indemnified Person&#8217;s gross negligence, willful
misconduct, fraud or breach of its obligations pursuant to this Agreement.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Limitation
of Liability;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mitigation</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:12.55pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Neither Party&#8217;s
aggregate liability for Losses with respect to the matters contemplated by this
Agreement shall exceed the aggregate amount of Service Fees actually paid or
payable pursuant to this Agreement in the twelve (12)-month period after the
Closing (or portion</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">thereof).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:14.55pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding
anything to the contrary contained in this Agreement, (i) no Service Provider
or Service Recipient shall have any liability to any Service Recipient
Indemnified Person or Service Provider Indemnified Person, respectively, for
any consequential, indirect, speculative, incidental, punitive, or special
damages, opportunity cost or lost prospective economic advantage, or other
similar damages or Losses as a result of or arising from or relating to this
Agreement, the provision of or the failure to provide the Services hereunder or
any other transactions contemplated hereby and (ii) no &#8220;multiple of profits&#8221; or
&#8220;multiple of cash flow&#8221; or other valuation methodology or performance metric
shall be used in calculating the amount of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Losses.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each indemnified Party
(the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnified Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) shall use its respective reasonable best
efforts to mitigate any Loss in respect of which such Indemnified Party is
entitled to recover from an indemnifying Party (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnifying Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
pursuant to this</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> ARTICLE IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> upon acquiring actual knowledge of any event
which would be reasonably likely to, or does, give rise to such Loss. In the
event an Indemnified Party fails to so use its reasonable best efforts to
mitigate an indemnifiable Loss in accordance with the preceding sentence, the
portion of such Loss that could reasonably have been avoided had the
Indemnified Party made the efforts required by this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall
not be recoverable from the Indemnifying Party pursuant to this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:12.5pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Any indemnity payment
made by the Indemnifying Party to the Indemnified Party pursuant to this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> in respect of a Loss shall be net of an amount equal to (i) any
insurance proceeds actually received and any other amounts actually recovered
from third parties (whether by payment, discount, credit, relief, insurance or
otherwise) by the Indemnified Party or an Affiliate in respect of such claim, </font><i><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">less&nbsp;</font></u></i><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii) any related costs and expenses of such receipt or recovery, including
any deductible or similar cost and the aggregate cost of pursuing any related
insurance claims. If the Indemnified Party or an Affiliate thereof</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">receives&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:9.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">12</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:31.4pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any amounts under applicable insurance policies, or from any other
Person alleged to be responsible for any Losses, subsequent to an
indemnification payment by the Indemnifying Party, then such Indemnified Party
shall promptly reimburse the Indemnifying Party for any payment made or expense
incurred by such Indemnifying Party in connection with providing such indemnification
payment up to the amount received by the Indemnified Party or its Affiliate,
net of any deductible or similar cost and reasonable documented out-of-pocket
expenses incurred by such Indemnified Party in collecting such amount.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.5pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Any amount paid by the
Indemnifying Party to the Indemnified Party pursuant to this ARTICLE IV in
respect of a Loss shall be reduced by an amount equal to any net Tax benefit
actually realized (including, without limitation, the utilization of a Tax loss
or Tax credit carried forward) as a result of such Loss by the Indemnified
Party claiming such Loss in the taxable year in which such Loss occurred
(determined on a &#8220;with and without&#8221;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">basis).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:15.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(f)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In no event shall
either Party be responsible or liable pursuant to this</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> ARTICLE IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or
otherwise for (i) any specific act or omission to act by such Party if such
specific action or omission to act is taken at the express written direction of
the other Party or any Affiliate of the other Party, or (ii) any Losses to the
extent caused by or resulting from the failure of the other Party or any of the
other Party&#8217;s Affiliates to perform any of their obligations under this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:23.9pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(g)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The limitations
contained in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> are an essential part of this Agreement
between the Parties and are intended to be enforced (by a court or otherwise)
as written. In any legal proceedings for damages, each Party agrees to
explicitly waive any claim for damages in conflict with these</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">limitations.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.85pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.4&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Claims Procedures</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. If an Indemnified Party becomes aware of any fact, matter or
circumstance that may give rise to a claim for indemnification under this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, the Indemnified Party shall give prompt written notice (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Claim
Notice</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) thereof to the Indemnifying Party. The Indemnifying Party may
elect to direct the defense or settlement of any such claim by giving prompt
written notice to the Indemnified Party; provided, however, that an
Indemnifying Party shall not have the right to assume and control the defense
of any criminal or regulatory action or claim, any claim seeking non-monetary
remedies, or any claim where the portion of the claim for which the Indemnified
Party would not be indemnified is reasonably likely to exceed the portion of
the claim for which it would be indemnified. If the Indemnifying Party elects
to direct the defense or settlement of any claim, it will have the right to
employ counsel reasonably acceptable to the Indemnified Party to defend any
such claim, or to compromise, settle or otherwise dispose of the same, if the
Indemnifying Party deems it advisable to do so, all at the expense of the
Indemnifying Party; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that the Indemnifying Party will not
settle, or consent to any entry of judgment in, any proceeding relating to the
claim (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Proceeding</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) without obtaining either: (i) an unconditional
release of the Indemnified Party from all liability with respect to all claims
underlying such claim in an arrangement where the only relief consists solely
of monetary damages to be paid entirely by the Indemnifying Party (or a
liability insurer thereof) ; or (ii) the prior written consent of the
Indemnified Party, which shall not be unreasonably withheld, conditioned or
delayed. An Indemnified Party will not settle or consent to any entry of
judgment in any Proceeding without obtaining the prior written</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">consent&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:7.6pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">13</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:28.15pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of the Indemnifying Party, which shall not be unreasonably withheld,
conditioned or delayed. The Indemnified Party and the Indemnifying Party will
fully cooperate with each other in any such Proceeding and will make available
to each other any books or records to the extent reasonably necessary for the
defense of any such Proceeding.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;margin-right:0cm;margin-top:.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.5&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Third-Party IP</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Matters</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.95pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding
anything else in this Agreement to the contrary, in the event of any breach of
this Agreement by either party or the incurrence of any liability to the extent
arising out of or relating to the failure of a third party to provide, or
provide access to, the Intellectual Property rights licensed by such third party
to the Service Provider (a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Third-Party IP Matter</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) in respect of any
Service, (i) Service Provider&#8217;s sole and exclusive obligation in respect of any
such breach or liability (including the failure to provide any Services) shall
be to use its commercially reasonable efforts to (A) enforce the terms of the
applicable agreement between Service Provider and such third-party provider,
and (B) to the extent Service Provider is unable to enforce the terms of such
agreement with such third-party provider, to devise and implement a work-around
solution pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.5(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and (ii) Service Recipient&#8217;s sole
and exclusive remedy for such breach or liability is to request Service
Provider to engage in the actions contemplated by clause (i) of this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
4.5(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Notwithstanding anything else in this Agreement to the contrary, in
no event shall Service Provider otherwise be responsible or liable for any
breach or liabilities to the extent that they arise out of or relate to any
Third-Party IP Matter.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.65pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">If Service Provider is
unable to enforce the terms of an agreement between Service Provider and a
third-party provider pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.5(a)(i)(A)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, Service Provider
shall use commercially reasonable efforts to promptly devise a work-around
solution and provide notice of such proposal to the Service Recipient pursuant
to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, including any estimated costs associated with such
proposal. If the Service Recipient accepts such proposal, Service Provider
shall use commercially reasonable efforts to promptly implement such proposal,</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that the Service Recipient agrees to bear all reasonable and
documented costs and expenses associated</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">therewith.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.4pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.6&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Survival of
Indemnification Obligations</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. If any Indemnified
Party does not give a Claim Notice to the Indemnifying Party of any claim
pursuant to this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Article IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> within (a) three (3) months after the
termination or expiration of the last Service to terminate or expire or (b)
three (3) months after the date when such Indemnified Party becomes or ought to
have become aware of the facts giving rise to such claim, whichever is later,
such Party shall be deemed to have waived such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">claim.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.95pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.7&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Disclaimer of
Warranties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Purchaser hereby acknowledges that
Service Provider and its Affiliates do not as part of its usual or regular
conduct of business provide any or all of the Services, or any related
services, on a commercial basis to third parties, as part of its business.
EXCEPT AS EXPRESSLY SET FORTH IN </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SECTION 2.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, THE SERVICES ARE PROVIDED
&#8220;AS IS&#8221; WITH ALL FAULTS AND WITHOUT WARRANTY OF ANY KIND. EXCEPT AS EXPRESSLY
SET FORTH IN </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SECTION 2.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, NONE OF SERVICE PROVIDER OR ANY OTHER PERSON
MAKES ANY</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OTHER&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:9.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">14</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.6pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">REPRESENTATION OR WARRANTY, WHETHER WRITTEN OR ORAL, OR EXPRESS OR
IMPLIED, AT LAW OR IN EQUITY, IN RESPECT OF SERVICE PROVIDER OR ANY OF ITS
AFFILIATES, THE BUSINESS, THE QUALITY, SUITABILITY, AVAILABILITY, RELIABILITY,
SECURITY, PERFORMANCE, ACCURACY OR ADEQUACY OF THE SERVICES, AND NONE OF
SERVICE PROVIDER OR ANY OTHER PERSON MAKES ANY REPRESENTATIONS OR WARRANTIES,
WHETHER WRITTEN OR ORAL, OR EXPRESS OR IMPLIED, AT LAW OR IN EQUITY, INCLUDING
WARRANTIES OF MERCHANTABILITY, FITNESS FOR ANY PARTICULAR PURPOSE, TITLE, QUIET
ENJOYMENT, NO ENCUMBRANCES, SYSTEM INTEGRATION, ACCURACY, WORKMANLIKE EFFORT,
NONINFRINGEMENT AND WARRANTIES ARISING THROUGH THE COURSE OF DEALING OR USAGE
OF TRADE. ANY SUCH OTHER REPRESENTATION OR WARRANTY IS HEREBY EXPRESSLY
DISCLAIMED BY PURCHASER ON BEHALF OF ITSELF AND ITS AFFILIATES, INCLUDING THE OTHER
SERVICE RECIPIENTS. NO ORAL OR WRITTEN INFORMATION OR ADVICE GIVEN BY SERVICE
PROVIDER OR ANY OF ITS AFFILIATES OR REPRESENTATIVES SHALL CREATE A WARRANTY OR
IN ANY WAY INCREASE THE SCOPE OF SERVICE PROVIDER&#8217;S OBLIGATIONS UNDER THIS
AGREEMENT.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.25pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.65pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.8&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Exclusive Remedy</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except in the case of (a) intentional fraud, or with respect to
matters for which the remedy of specific performance, injunctive relief or
other non-monetary equitable remedies are available in accordance with this
Agreement or (b) as otherwise expressly provided in this Agreement, the rights
and remedies under this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> are exclusive and in lieu of any and
all other rights and remedies that Service Provider or any of its Affiliates
may have against Purchaser or any of its Affiliates or Representatives, or
Purchaser or any of its Affiliates may have against Service Provider or any of
its Affiliates or Representatives under this Agreement or any failure to
perform any covenant or agreement set forth in this Agreement. Each Party
expressly waives any and all other rights, remedies and causes of action it or
its Affiliates may have against the other Party or its Affiliates or
Representatives now or in the future under any Law with respect to the
transactions contemplated by this Agreement. The remedies expressly provided in
this Agreement shall constitute the sole and exclusive basis for, and means of
recourse between, the Parties and their Affiliates with respect to transactions
contemplated by this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:.05pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE V</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">COOPERATION; ACCESS; CONFIDENTIALITY;
OWNERSHIP OF DATA</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;margin-right:0cm;margin-top:.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Cooperation</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:23.0pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each Party shall, and
shall cause its Affiliates to, use their respective commercially reasonable
efforts to (i) cooperate with the other Party, any of its Affiliates and any
Third-Party Service Provider in all matters relating to the provision and
receipt of the Services and (ii) enable Service Provider, any of its Affiliates
providing a Service and any Third-Party Service Provider to provide the
Services in accordance with this Agreement.</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Such&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.1pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">cooperation
shall include, but not be limited to, exchanging information and materials,
providing electronic access to any necessary IT Assets (as defined below in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.2(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">) required in</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:7.65pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">15</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:29.1pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">connection with the provision or receipt of the Services, performing
true-ups and adjustments and obtaining all consents, waivers, permits,
licenses, sublicenses or approvals reasonably necessary to permit each Party to
perform its obligations hereunder. Any costs and expenses payable to third
parties (other than the respective Representatives of each of the Parties) in
connection with the consents, waivers, permits, licenses, sublicenses or
approvals required in connection with the provision of Services during the Term
shall be mutually agreed to by the Parties and set forth on the Service
Schedule.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each Party agrees and
acknowledges that Service Provider may not be able to provide certain Services
unless certain data, information, material, personnel, facilities or assets are
provided to Service Provider by Service Recipients and certain actions are
taken by Service Recipients within a reasonable period of time prior to the
commencement or completion of the Services. Service Provider shall not be
deemed to be in breach of its obligations under this Agreement to the extent
that Service Provider cannot provide any Services due to Service Recipients
failing to timely deliver to Service Provider such data, information, material,
personnel, facilities or assets as Service Provider reasonably requests, or
failing to timely take any action reasonably requested by Service Provider,
that is reasonably necessary to enable Service Provider to provide such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Services.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:15.65pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Recipients
shall (i) make available on a timely basis such information and materials as
are reasonably requested by Service Provider, any of its Affiliates providing a
Service or any Third-Party Service Provider to enable such Person to provide
the Services; (ii) upon reasonable advance notice, provide to Service Provider,
any of its Affiliates providing a Service or any Third-Party Service Provider
reasonable access to its employees, personnel, premises and facilities during
normal business hours and the equipment, systems, software and networks located
therein, to the extent reasonably necessary, desirable or advisable for the
purpose of providing the Services; and (iii) use its commercially reasonable
efforts to maintain such premises, facilities, equipment, systems, software and
networks located therein in proper working order and in compliance with all
applicable workplace safety and applicable Laws.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:4.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IT&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Security</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.85pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">While using or
accessing the technology, devices, computers, software, servers, networks,
workstations, routers, hubs, circuits, switches, data communications lines, or
any other information technology equipment (collectively, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IT Assets</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
of the other Party in connection with the provision or receipt of a Service,
each Party shall, and shall cause each of its Affiliates and any Third-Party
Service Providers (as applicable) to, adhere in all respects to the other
Party&#8217;s controlled processes, policies and procedures (including with respect
to confidential information, data, communications and system privacy,
operation, security and proper use) as in effect on the Closing Date or as
communicated from time to time in</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">writing.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.5pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each of the Parties
shall maintain reasonable security measures (i) to prevent unauthorized access
to its IT Assets used in connection with the provision and receipt of the
Services; (ii) to prevent unauthorized access, use, destruction, alteration or
loss of all data or other information contained in such IT Assets; (iii) to
ensure that only authorized personnel</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">gain&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:9.55pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">16</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.8pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">access to such IT Assets, and such data and information; (iv) to
ensure the security and integrity of all data or other information contained in
such IT Assets; and (v) to ensure that no disabling code or instructions,
spyware, viruses, Trojan horses, worms, ransomware, malware or other malicious
code or software routines that facilitate or cause unauthorized access to, or
disruption, impairment, disablement, or destruction of, software, data or other
material is introduced to the other Party&#8217;s IT Assets. Such measures shall in
no event be less stringent than, in each case of clauses (i), (ii), (iii) (iv),
and (v), those used to safeguard such Party&#8217;s IT Assets not used in connection
with the provision and receipt of the Services. Such measures shall include,
where appropriate, the use of reasonable firewalls, virus screening software,
multi-factor authentication, logon identification and passwords, encryption,
intrusion detection systems, logging of incidents, periodic reporting, and
prompt application of current security patches, virus definitions and other
updates as needed.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:31.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each of the Parties may
immediately suspend the other Party&#8217;s (and its Affiliates&#8217; and any Third-Party
Service Providers&#8217;) access (if any) to its IT Assets following written notice
to the extent reasonably practicable if, in such first Party&#8217;s reasonable</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">opinion&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.95pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i) the
integrity, security or performance of its IT Assets, or any data or other
information stored therein, is being or is likely to be jeopardized by the
activities of the other Party (or its Affiliates or any Third-Party Service
Providers), or (ii) continued access to its IT Assets by the other Party (or by
its Affiliates or any Third-Party Service Providers) would expose such first
Party to any material Liability. In such a case, each of the Parties shall take
appropriate corrective actions and if such actions fully resolve the matter (as
determined by the Party providing such access to its IT Assets in its sole good
faith discretion), the Party providing access to its IT Assets shall restore
such access to the other Party as promptly as</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">possible.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:12.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each of the Parties
shall cooperate with the other Party in the investigation of any actual or
suspected unauthorized access of such other Party&#8217;s IT Assets implicating the
first Party&#8217;s compliance with the terms of this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:17.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding the
foregoing, Service Provider reserves the right in its sole discretion to
terminate all Services that provide access to its IT Assets that are impacted
by Service Recipient&#8217;s breach of this Section 5.2, without termination
liability, if Service Recipient remains in breach of this Section 5.2 ten (10)
Business Days after receipt of notice of such breach, provided that Service
Provider shall reasonably cooperate with Service Recipient, at Service
Recipient&#8217;s expense, to cure such breach and restore such Services following
such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">cure.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.3&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Intellectual&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Property</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:16.6pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Solely to the extent
required for the provision or receipt of the Services in accordance with this
Agreement, each Party, for itself and on behalf of its respective Affiliates,
hereby grants to the other (and its respective Affiliates) a non-exclusive,
fully paid-up, royalty- free, world-wide, revocable (only as expressly set
forth herein), non-transferable (except as provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">),
non-sublicensable (except to Third-Party Service Providers) license to such
Intellectual Property that is owned and controlled by the granting Party, but
only to the extent and for the duration necessary for the other Party to
provide or receive the applicable Service as permitted by this Agreement. Upon
the expiration or termination of such Service</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:9.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">17</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:19.8pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, any license to any Intellectual
Property relevant to such Service (and not required for the provision or
receipt of any other Service) shall also automatically terminate; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that all licenses granted hereunder shall automatically
terminate immediately upon the expiration or termination of this Agreement in
accordance with the terms hereof.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.9pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as otherwise
expressly set forth in this Agreement, the Purchase Agreement or the
Transitional Trademark License, each Party and its respective Affiliates shall
retain all right, title and interest in and to its respective Intellectual
Property (and to any and all improvements, modifications and derivative works
thereof), and no Party nor any of its Affiliates shall have any rights or
licenses, express, implied or otherwise, with respect to any Intellectual
Property (including rights to any software, hardware or other facility) of the
other Party or its Affiliates. All rights and licenses not expressly granted in
this Agreement are expressly reserved by each</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:4.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.4&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Confidentiality</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:30.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.5 of the
Purchase Agreement shall apply </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">mutatis mutandis </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to this Agreement and
any confidential information shared among [Seller,] Service Provider,
Purchaser, the Service Recipient[s] and any Third-Party Service Provider, as</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">applicable.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:13.65pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">With respect to any
Service, each Party agrees that (i) all software, hardware or data, procedures
and materials provided to it by or on behalf of the other Party in connection
with such Service are solely for purposes of the provision or receipt of such
Service in connection with this Agreement; (ii) each Party agrees that it shall
not copy, modify, reverse engineer, decompile, distribute or in any way alter
or make derivative works of any software, hardware or data provided by the
other Party for the provisions or receipt of the Services without the providing
Party&#8217;s prior written consent and (iii) each Party shall comply with any and
all usage guidelines pertaining to any Service and provided by or on behalf of
the other Party, including any and all usage guidelines pertaining to software,
data, or other intellectual property or proprietary rights. Nothing in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
V</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall be construed as obligating any Party to disclose its confidential
information to any other Person, or as granting to or conferring on any other
Person, expressly or by implication, any rights or license to the disclosing
Party&#8217;s confidential information; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that the Parties acknowledge
that, in order to perform the Services, Service Provider shall have custody and
usage of certain of Service Recipient&#8217;s confidential information and Service
Recipient hereby grants such rights to Service Provider solely for purposes of
Service Provider&#8217;s performance under this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE VI</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">TERM; TERMINATION</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Section 6.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Term and Service Termination</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;line-height:11.9pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Dates</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:23.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subject to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
6.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and any early termination of this Agreement in its entirety pursuant to
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, this Agreement shall terminate in its entirety upon</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">18</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.75pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">termination of all Services to be provided hereunder pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
6.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, as applicable, unless otherwise mutually
agreed by the Parties; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that the rights of the Parties in
respect of any claims that have accrued prior to such termination shall survive
such termination.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.65pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each of the Services
shall be provided commencing on the Effective Date and shall continue until the
earlier to occur of (i) the applicable termination date set forth in</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> with respect to such Service (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Termination Date</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)<sup>2</sup>,
unless otherwise mutually agreed by the Parties, (ii) termination of such
Service in accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.2(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and
(iii) termination of this Agreement in accordance with the terms hereof prior
to the Termination Date of such Service. Purchaser may terminate or reduce any
Service prior to its Termination Date set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> by
providing to Service Provider written notice thereof, not less than thirty (30)
days prior to the date of such earlier termination or reduction except as
otherwise specified in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that if the Service
requested to be terminated or reduced prior to the Termination Date set forth
on </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> is being provided by a Third-Party Service Provider,
Purchaser shall be responsible for any payments due to such Third-Party Service
Provider as a result of such early termination. The Parties agree that (A) if
any Service is dependent on one or more of the other Services, then each such
Service must be terminated or reduced together; and (B) any termination or
reduction may be on a location by location basis if so indicated on </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule
A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. In the event one or more, but less than all, of the Services are expired
or terminated pursuant to the terms of this Agreement, (1) this Agreement will
continue in full force and effect with respect to any of the Services not so
discontinued, subject to the terms and conditions of this Agreement, (2)
Service Provider will have no further obligation to provide such terminated
Service, except as otherwise agreed by the Parties, (3) Purchaser shall remain
obligated to Service Provider for any accrued and unpaid amount owed to Service
Provider hereunder in respect of such terminated Service that was provided
prior to the effective date of such termination and (4) any and all rights to
Intellectual Property granted hereunder in connection with the provision of a
terminated Service shall immediately cease upon such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">termination.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:119.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Early&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Termination</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:21.0pt;margin-top:0cm;text-indent:108.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Without limiting </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
3.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.2(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, in the event either Party materially breaches
this Agreement, and if such breach is not excused or not cured within thirty
(30) days after the receipt of written notice from the other Party specifying
such breach, then the other Party may at any time thereafter terminate this
Agreement in its entirety or any such Service that is the subject of such
breach by giving five (5) days&#8217; prior written</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">notice.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-right:21.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:0cm;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">_________________________________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:46.95pt;margin-right:14.05pt;margin-top:3.6pt;text-indent:-36.0pt;"><sup><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2</font></sup><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;">Note to draft</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">: Term of 12 months, or such shorter
period as may be agreed prior to Closing, including with respect to such
Services that will be subject to conversion anticipated to occur over Columbus
Weekend 2021; it being understood and agreed that (i) stand-alone platforms
(e.g., Azlo) will only be converted (and related Services terminated)
approximately three months after the primary bank conversion, and (ii) certain
other services outside the primary bank platform and the stand-alone platforms
will be converted (and related Services terminated) at a time thereafter, but
not later than 12 months following</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-1.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Closing.&nbsp;</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">19</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.95pt;margin-top:3.9pt;text-indent:108.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In the event a
Bankruptcy Event has occurred with respect to either Party, the other Party may
at any time immediately terminate this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.35pt;margin-top:.05pt;text-align:justify;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">For purposes of this Agreement, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Bankruptcy Event</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
with respect to a Party shall mean the filing of an involuntary petition in
bankruptcy or similar proceeding against such Party seeking its reorganization,
liquidation or the appointment of a receiver, trustee or liquidator for it or
for all or substantially all of its assets, or if such Party shall (a) apply
for or consent in writing to the appointment of a receiver, trustee or
liquidator of all or substantially all of its assets,</font></p>

<p style="margin-bottom:0cm;margin-left:27.95pt;margin-right:0cm;margin-top:0cm;text-indent:-17.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.75pt;">&nbsp;&nbsp; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">file a voluntary petition or admit in writing
its inability to pay its debts as they become</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;line-height:13.75pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">due,&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.9pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">make a general
assignment for the benefit of creditors, (d) file a petition or an answer
seeking reorganization or an arrangement with its creditors or take advantage
of any insolvency law with respect to itself as debtor or (e) file an answer
admitting the material allegations of a petition filed against it in any
bankruptcy, reorganization, insolvency proceedings or any similar proceedings.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.95pt;margin-top:4.5pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Suspension Due to
Force Majeure</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The obligations of Service Provider
under this Agreement with respect to any Service shall be suspended during the
period and to the extent that Service Provider (or its Affiliates or a
Third-Party Service Provider, as applicable) is prevented or hindered from
providing such Service, or any Service Recipient is prevented or hindered from
receiving such Service, due to any of the following causes beyond such Party&#8217;s
reasonable control (such causes, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Force Majeure Events</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;): (a) acts of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">God;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.15pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b) storm,
earthquake, flood, fire or explosion; (c) acts of war (whether or not
declared), armed hostilities or terrorism, cybersecurity breaches, or the
escalation or worsening thereof, invasion, riot or other civil unrest; (d)
Government Order or applicable Law; (e) embargoes or blockades;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.15pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(f) action by
any Governmental Authority, including a Government Shutdown; (g) international,
national or regional emergency, including a Contagion Event; (h) shortage of
adequate power, raw materials or transportation facilities; (i) strikes, labor
stoppages, slowdowns or disputes or other industrial disturbances; or (j) any
other event which is beyond the reasonable control of such Party. The Party
suffering a Force Majeure Event shall give notice of suspension as soon as
reasonably practicable to the other Party stating the date and extent of such
suspension and the cause thereof, and the Service Fee shall be equitably
adjusted to reflect the reduced performance. Neither Service Provider nor
Purchaser shall be liable for the nonperformance or delay in performance of its
respective obligations under this Agreement when such failure is due to a Force
Majeure Event; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">it being</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">understood&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that, (i) notwithstanding
anything herein to the contrary, Purchaser&#8217;s obligation to make any payment due
and payable hereunder for Services actually provided hereunder shall not be
suspended in the case of a Force Majeure Event (except to the extent of
Services not provided) and (ii) each affected Party shall use commercially
reasonable efforts to minimize the effect of any such event and shall resume
the performance of its duties and obligations hereunder as soon as reasonably
practicable after the end of the Force Majeure Event. The time for completion
for any Service so suspended shall be automatically extended for a period of
time equal to the time lost by reason of such suspension. From and during the
occurrence of a Force Majeure Event, Service Provider shall not be under any
obligation to replace the affected Services; provided, however, that if Service
Provider replaces comparable services for itself or its Affiliates, it shall do
the same for Service Recipient.</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">20</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.85pt;margin-top:3.9pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.3&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effect of Termination; Survival</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. In the
event this Agreement expires or is terminated in accordance with this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
VI</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, then (a) all Services will promptly cease and (b) no Party shall be
released from any liability or obligation that has already accrued as of the
effective date of such expiration or termination, and no rights already accrued
hereunder shall be affected. The provisions of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE I</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE III</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE VII</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE VIII</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.5</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.2(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
and this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.5pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u></p>

<p style="margin-bottom:0cm;margin-left:29.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">6.3</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.75pt;">&nbsp; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">shall survive the expiration or termination of this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;line-height:13.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.75pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.4&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Return or Destruction
of Information</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Upon termination of a Service
and/or the termination of this Agreement, (i) if a Party or any of its
Affiliates holds any confidential information, records, files or databases,
furnished by the other Party or its Affiliates in connection with the provision
or receipt of the terminated Services (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Materials</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), such Party
shall, and shall cause its Affiliates to, promptly return to the other Party or
destroy, or cause to be returned to the other Party or destroyed, all such other
Party&#8217;s or its Affiliates&#8217; Materials, in each case upon the relevant
termination; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that such Party or its Affiliates, as applicable,
may retain one (1) copy of such Materials to the extent required to comply with
applicable Law or </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">bona fide </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">document retention policies; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">further</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that such Party or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its
Affiliates, as applicable, must continue to treat such retained Materials in a
manner consistent with the terms of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and (ii) if a Party or
any of its Affiliates holds any tangible property owned or leased by the other
Party or its Affiliates in connection with the provision or receipt of the
terminated Services, such Party shall, and shall cause its Affiliates to,
promptly return such tangible property to the other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE VII</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">DISPUTE RESOLUTION</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Section 7.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Negotiation</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">. Subject to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Section 3.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Section 5.2(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;"> and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.05pt;line-height:11.9pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Section&nbsp;</font></u></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.15pt;margin-top:0cm;"><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">6.1(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, in the event of a controversy, dispute or claim arising out of, in
connection with, or in relation to the interpretation, performance, nonperformance,
validity or breach of this Agreement or otherwise arising out of, or in any way
related to this Agreement or the transactions contemplated hereby, including,
without limitation, any claim based on contract, tort, statute or constitution
(collectively, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement Disputes</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), the Parties shall cooperate in
good faith to resolve all disputes through the Transition Service
Representatives and the TSA Committee and negotiate in good faith for a
reasonable period of time to settle such Agreement Dispute; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
that such reasonable period shall not, unless otherwise agreed by the Parties
in writing, exceed thirty (30) days from the time the Parties began such
negotiations. If the Parties are unable to resolve such dispute within such
thirty (30)-day negotiation period, then either Party may pursue its rights and
remedies at law or in equity.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE VIII</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">MISCELLANEOUS</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-indent:3.0cm;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Section 8.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Notices</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">. All notices and other communications hereunder shall</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;line-height:11.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">be in writing and shall be deemed duly
given (a) on the date of delivery if delivered personally, or if</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:8.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:155%;">21</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.1pt;margin-top:4.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by facsimile, upon written confirmation of receipt by facsimile, or
otherwise, (b) on the first (1<sup>st</sup>) Business Day after being sent if
delivered utilizing a next-day service by an internationally recognized
overnight courier that issues a receipt or other confirmation of delivery, (c)
on the earlier of confirmed receipt or the third (3<sup>rd</sup>) Business Day
following the date of mailing if delivered by registered or certified mail,
return receipt requested, postage prepaid or (d) when transmitted to the email
address set out below, as applicable (</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that no &#8220;error&#8221; message
or other notification of non-delivery is generated). All notices hereunder
shall be delivered to the addresses set forth below, or pursuant to such other
instructions as may be designated in writing by the party to receive such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">notice.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">To Seller:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=ES style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:144.35pt;margin-top:4.5pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Banco Bilbao Vizcaya Argentaria,
S.A.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.05pt;margin-right:144.3pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Calle Azul 4</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:248.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Madrid U3 28050</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:248.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Spain</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160; Victoria del
Castillo</font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Marchese;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:126.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Jacobo de
Nicol&#225;s de Benito</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; victoria.castillo@bbva.com;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">jacobo.nicolas@bbva.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with a copy to
(which shall not constitute notice):</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;margin-right:206.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Sullivan &amp;
Cromwell LLP</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;margin-right:206.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">125 Broad
Street</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;margin-right:178.55pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">New York, New
York 10004</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;margin-right:178.55pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;
H. Rodgin</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">Cohen&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mitchell S.
Eitel</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">William D.
Torchiana</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Facsimile:&#160;&#160;&#160;&#160;&#160;&#160;&#160;
+1 (212) 291 9028</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">+1 (212) 291
9046</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">+33 1 7304 1010</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:128.75pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Cohenhr@sullcrom.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:298.95pt;margin-right:128.75pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Eitelm@sullcrom.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:298.95pt;margin-right:128.75pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Torchianaw@sullcrom.com</font></p>

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

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

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">22</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">To Purchaser:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:0cm;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PNC Bank, N.A.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:243.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Tower at
PNC</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:243.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">300 Fifth
Avenue</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Pittsburgh,
PA 15222</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mail Stop:
PT-PTWR-21-1</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:94.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:
Mergers &amp; Acquisitions </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">Department&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:94.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">david.williams@pnc.com&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with a copy
to:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:165.3pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PNC Bank,
National Association</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:165.3pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Tower at
PNC</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">300 Fifth
Avenue</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Pittsburgh,
PA 15222</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mail Stop:</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PT-PTWR-18-1&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:20.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:
Laura Long, Deputy General Counsel, M&amp;A</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:20.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Facsimile: +1
(412) 762-5988</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">laura.long@pnc.com&nbsp;</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:4.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with a copy to
(which shall not constitute notice):</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:178.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Wachtell,
Lipton, Rosen &amp; Katz</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:178.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">51 West 52nd
Street</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:171.35pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">New York, New
York 10019</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:171.35pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;
Edward D.</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Herlihy&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:164.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Nicholas G.</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Demmo&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:171.35pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Facsimile:&#160;&#160;&#160;&#160;&#160;&#160;
+1 (212) 403-2207</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">+1 (212)
403-2381</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:150.2pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">EDHerlihy@wlrk.com&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:298.95pt;margin-right:150.2pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">NGDemmo@wlrk.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.75pt;margin-top:0cm;text-indent:67.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Amendment; Waiver</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Any provision of this Agreement may be amended or waived if, and
only if, such amendment or waiver is in writing and signed, in the case of an
amendment, by both Parties, or in the case of a waiver, by the Party against
whom the waiver is to be effective. The conditions to the obligations of either
Party to consummate the transactions contemplated by this Agreement are for the
sole benefit of such Party and may be waived by such Party in whole or in part
to the extent permitted by applicable Law. No failure or delay by any Party in
exercising any right, power or privilege hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise thereof preclude any other or
further exercise thereof or the exercise of any other right, power or
privilege. The rights and remedies herein provided shall be cumulative and not
exclusive of any rights or remedies provided by Law.</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">23</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></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="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:17.15pt;margin-top:3.9pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.3&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Assignment</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. This Agreement shall be
binding upon and inure to the benefit of the Parties and their respective
successors, legal representatives and permitted assigns. No Party to this
Agreement may assign any of its rights or delegate any of its obligations under
this Agreement, by operation of Law or otherwise, without the prior written
consent of the other Party, except (a) as provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
8.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and (b) that Service Provider may assign any and all of its rights or
obligations under this Agreement in connection with a change of control (by
operation of law or otherwise) of Service Provider without obtaining
Purchaser&#8217;s consent and (c) that Purchaser may assign any and all of its rights
under this Agreement to one or more of its Affiliates or wholly-owned
Subsidiaries; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that, in each case, the
assigning Party shall not be released from any liability or obligation under
this Agreement and no assignment shall be permitted that would reasonably be
expected to result in any greater cost or obligation being imposed upon either
Party than would otherwise be so imposed pursuant to this Agreement. Any
purported assignment in violation of this Agreement shall be null and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">void.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.4pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.4&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Third Party
Beneficiaries</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
only, which is intended to benefit, and to be enforceable by, the parties
specified therein, this Agreement, together with the schedules hereto, are not
intended to confer in or on behalf of any Person not a party to this Agreement
any remedy, claim, liability, reimbursement, cause of action or other right
including any right to contract or any right to employment or continued
employment.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:41.4pt;margin-top:4.5pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.5&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Expenses</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as otherwise provided herein, all costs and expenses
incurred in connection with the preparation, execution and performance of this
Agreement shall be paid by the Party incurring such costs and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">expenses.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.4pt;margin-top:0cm;text-indent:67.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.6&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Entire Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. This Agreement (including any schedules hereto), the Purchase
Agreement and other Transaction Documents constitute the entire agreement and
supersede all other prior agreements, understandings, representations and
warranties both written and oral, among the Parties, with respect to the
subject matter hereof. No Party shall be bound by, or be liable for, any
alleged representation, promise, inducement or statement of intention not
contained herein or in any certificate delivered pursuant</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereto.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.45pt;margin-top:.05pt;text-indent:67.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.7&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Fulfillment of
Obligations</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Any obligation of any Party to any
other Party under this Agreement, or to any other Party under the Purchase
Agreement or any other Transaction Document, which obligation is performed,
satisfied or fulfilled completely by an Affiliate of such Party, and with
respect to Service Provider, by a Third-Party Service Provider, shall be deemed
to have been performed, satisfied or fulfilled by such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:78.5pt;margin-right:0cm;margin-top:.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.8&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">GOVERNING
LAW AND VENUE; WAIVER OF JURY</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.9pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TRIAL</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.15pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The execution,
interpretation, and performance of this Agreement shall be governed by the laws
of the State of New York without giving effect to any conflict of laws
provision or rule (whether of the State of New York or any other jurisdiction)
that would cause the application of the law of any other jurisdiction other
than the State of New York. EACH PARTY HERETO, TO THE EXTENT IT MAY LAWFULLY DO
SO, HEREBY</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SUBMITS&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:11.25pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">24</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>


</DIV>
</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="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.3pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TO THE JURISDICTION OF ANY COURT OF THE STATE OF NEW YORK LOCATED IN
THE BOROUGH OF MANHATTAN IN NEW YORK CITY AND THE U.S. DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK, AS WELL AS TO THE JURISDICTION OF ALL COURTS
FROM WHICH AN APPEAL MAY BE TAKEN OR OTHER REVIEW SOUGHT FROM THE AFORESAID
COURTS, FOR THE PURPOSE OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF
SUCH PARTY&#8217;S OBLIGATIONS UNDER OR WITH RESPECT TO THIS AGREEMENT OR ANY OF THE
AGREEMENTS, INSTRUMENTS OR DOCUMENTS CONTEMPLATED HEREBY (OTHER THAN THE
CONFIDENTIALITY AGREEMENT), AND EXPRESSLY WAIVES ANY AND ALL OBJECTIONS IT MAY
HAVE AS TO VENUE IN ANY OF SUCH COURTS. The</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.4pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">parties hereby
consent to and grant any such court jurisdiction over the person of such
parties and, to the extent permitted by Law, over the subject matter of such
dispute and agree that mailing of process or other papers in connection with
any such action or proceeding in the manner provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or
in such other manner as may be permitted by Law shall be valid and sufficient
service thereof. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by Law.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:13.8pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">EACH PARTY HERETO
HEREBY WAIVES TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT
BY ANY OF THEM AGAINST THE OTHER ARISING OUT OF OR IN ANY WAY CONNECTED WITH
THIS AGREEMENT, OR ANY OTHER AGREEMENTS EXECUTED IN CONNECTION HEREWITH, OR THE
ADMINISTRATION THEREOF OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN OR
THEREIN. NO PARTY TO THIS AGREEMENT SHALL SEEK A JURY TRIAL IN ANY LAWSUIT,
PROCEEDING, COUNTERCLAIM, OR ANY OTHER ACTION PROCEDURE BASED UPON, OR ARISING
OUT OF, THIS AGREEMENT OR ANY RELATED INSTRUMENTS OR THE RELATIONSHIP BETWEEN
THE PARTIES. NO PARTY WILL SEEK TO CONSOLIDATE ANY SUCH ACTION, IN WHICH A JURY
TRIAL HAS BEEN WAIVED, WITH ANY OTHER ACTION IN WHICH</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. THE PROVISIONS
OF THIS SECTION HAVE BEEN FULLY DISCUSSED BY THE PARTIES HERETO, AND THESE
PROVISIONS SHALL BE SUBJECT TO NO EXCEPTIONS. NO PARTY HAS IN ANY WAY AGREED
WITH OR REPRESENTED TO ANY OTHER PARTY THAT THE PROVISIONS OF THIS SECTION WILL
NOT BE FULLY ENFORCED IN ALL INSTANCES.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.5pt;margin-top:0cm;text-indent:67.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.9&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Counterparts</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. This Agreement may be executed in one or more counterparts, each
of which shall be deemed an original, and all of which shall constitute one and
the same</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:20.25pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.10&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Severability</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The provisions of this Agreement shall be deemed severable and the
invalidity or unenforceability of any provision shall not affect the validity
or enforceability of the other provisions hereof. If any provision of this
Agreement, or the application thereof to any Person or entity or any
circumstance, is found by a court or other Governmental Authority of competent
jurisdiction to be invalid or unenforceable, (a) a suitable and equitable
provision shall be substituted therefor in order to carry out, so far as may be
valid and enforceable, the intent and purpose of such invalid or unenforceable
provision and (b)</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:5.9pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">25</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>


</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:25.1pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">remainder of this Agreement and the application of such provision to
other Persons, entities or circumstances shall not be affected by such
invalidity or unenforceability, nor shall such invalidity or unenforceability
affect the validity or enforceability, of such provision, or the application
thereof, in any other jurisdiction.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.6pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.11&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Specific Performance</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Subject to the provisions of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Article VII</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, the parties
hereto agree that if any of the provisions of this Agreement were not to be
performed as required by their specific terms or were to be otherwise breached,
irreparable damage will occur, no adequate remedy at law would exist and
damages would be difficult to determine, and that such parties shall be
entitled, without the necessity of posting a bond or other security, to an
injunction or injunctions to prevent breaches, and to specific performance of
the terms, of this Agreement, in addition to any other remedy at law or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">equity.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.9pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.12&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Relationship of
Parties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Nothing in this Agreement shall be deemed
or construed by the Parties or any third party as creating the relationship of
principal and agent, partnership or joint venture between the Parties, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">it&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">being&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">understood&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and agreed that no provision contained herein,
and no act of the Parties, shall be deemed to create any relationship between
the Parties, other than the relationship of independent contractor, nor be
deemed to vest any rights, interest or claims in any third party. By this
Agreement, the Parties do not intend to create an employer-employee
relationship. Neither Party shall be bound by any representation, act or
omission of the other Party. Neither Party has any right, power or authority to
create any obligation, express or implied, on behalf of the other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:4.3pt;margin-top:10.7pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">[</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Signature page follows</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">]&nbsp;</font></p>

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.1pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.1pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.1pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">26</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>


</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.1pt;margin-top:3.9pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IN WITNESS WHEREOF, this Agreement has
been duly executed and delivered on behalf of the Parties as of the date first
herein above written.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:15.4pt;margin-top:7.85pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">BANCO BILBAO VIZCAYA ARGENTARIA,
S.A.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=ES style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:254.0pt;margin-right:10.95pt;margin-top:0cm;text-indent:-27.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">By:_____________________________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:281.0pt;margin-right:10.95pt;margin-top:0cm;text-indent:-27.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Name:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:254.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Title:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:0cm;margin-top:10.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE PNC
FINANCIAL SERVICES GROUP, INC.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:254.0pt;margin-right:10.95pt;margin-top:11.45pt;text-indent:-27.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">By:______________________________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:280.95pt;margin-right:11.05pt;margin-top:6.0pt;text-indent:-26.95pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Name:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:254.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Title:</font></p>

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

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

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

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

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

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

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

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

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">[Signature Page to Transition Services
Agreement]</font></i></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>


</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SCHEDULE A<sup>3</sup></font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;margin-left:5.85pt;width:100%;">
 <tr style="height:13.75pt;">
  <td valign=top width=34% style="border:solid black 1.0pt;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:23.45pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.75pt;">Description of Service</font></b></p>
  </td>
 <td valign=top width=33% style="border:none;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:solid black 1.0pt;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:50.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.75pt;">Service Fee</font></b></p>
  </td>
 <td valign=top width=33% style="border:none;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:solid black 1.0pt;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:33.8pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.75pt;">Termination Date</font></b></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=34% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=34% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=34% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:13.8pt;">
  <td valign=top width=34% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:13.8pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.8pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.8pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>



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

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

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

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

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

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:0cm;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">_________________________________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:46.95pt;margin-right:14.35pt;margin-top:3.6pt;text-indent:-36.0pt;"><sup><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">3</font></sup><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;">Note to Draft: </font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Sample schedule which is to be
revised and agreed between the parties from signing to closing and may include
all historical services other than the Excluded Services.</font></p>

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">A-1</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SCHEDULE B</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.1pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:138.4pt;margin-right:0cm;margin-top:4.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Initial Transition Service Representatives</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:376.45pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">[&#9679;], Service Provider [&#9679;], Purchaser</font></p>

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

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

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

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">B-1</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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

<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:11.3pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SCHEDULE C</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Excluded Services<sup>4</sup></font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:15.5pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:46.45pt;margin-right:10.8pt;margin-top:.05pt;text-align:justify;text-indent:-35.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(A)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Advisory and
consultancy services: Any service, analysis or advice in respect of any Tax
matters.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.45pt;margin-right:10.65pt;margin-top:.05pt;text-align:justify;text-indent:-35.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(B)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Any analysis or advice,
from internal or external individuals, in respect of legal, compliance or
regulatory matters, including for the avoidance of doubt (i) corporate
governance matters, (ii) derivatives contracts, (iii) regulatory Law in
general, (iv) any litigation matters, including in respect of prevention and
management, (v) the monitoring of compliance policies, regulations and
procedures related to anti-money laundering or anti-terrorist regulations, (vi)
monitoring of internal conduct codes, (vii) training activities related to
compliance matters, and (vii) activities related to data protection and market</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">integrity.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.45pt;margin-right:10.8pt;margin-top:0cm;text-align:justify;text-indent:-35.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(C)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Any analysis or advice,
from internal or external individuals, in respect of any compensation schemes
or matters, budget control and management reports, incentives schemes,
collective negotiations and analysis of compensation schemes in the financial
industry, and the analysis and development of special incentive schemes for the
management of Target Group</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Companies.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.45pt;margin-right:10.75pt;margin-top:0cm;text-align:justify;text-indent:-35.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(D)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Any support for, or
design or development of new functionality outside of supporting data mapping
and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">migration.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:46.45pt;margin-right:0cm;margin-top:0cm;text-indent:-35.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(E)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">service&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.6pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">not&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">previously&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.6pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Provider&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.6pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Recipient.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:0cm;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">_________________________________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:0cm;margin-top:.15pt;"><sup><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">4</font></sup><font face="Times New Roman,serif" lang=EN-US style="font-size:4.0pt;">&#160;&#160;
</font><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Note to Draft</font></u></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">: Excluded Services may be revised by
mutual agreement between signing and closing.</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:0cm;margin-top:.15pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:0cm;margin-top:.15pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">C-1</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:9.6pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SCHEDULE D<sup>5</sup></font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Data Processor Obligations</font></u></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:20.45pt;margin-top:4.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In order to
provide the Services, Service Provider must process Personal Data controlled by
the relevant Service Recipient in accordance with the Data Privacy Laws and
following terms and conditions:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.1pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:15.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.45pt;margin-right:10.8pt;margin-top:0cm;text-align:justify;text-indent:-35.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(A)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The data shall be
processed exclusively for the purposes of performing the Services and in
compliance with (i) the applicable Data Privacy Laws, and (ii) this Agreement.
The Service Provider shall immediately inform the Service Recipient if, in its
opinion, any instruction infringes applicable Data Privacy</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Laws.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.45pt;margin-right:10.8pt;margin-top:0cm;text-align:justify;text-indent:-35.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(B)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The confidential data
shall be kept confidential by Service Provider, establishing adequate security
measures to avoid unauthorized access to such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">data.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.45pt;margin-right:10.75pt;margin-top:0cm;text-align:justify;text-indent:-35.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(C)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Maintain appropriate
technical and organizational measures to ensure a security level in accordance
with past practice and as required by applicable data Privacy</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Laws.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.45pt;margin-right:10.9pt;margin-top:0cm;text-align:justify;text-indent:-35.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(D)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The data shall not be
disclosed to any Person, except for subcontractor in accordance with past
practice</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p 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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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:0cm;margin-top:.15pt;"><font style="mso-bidi-font-size:12.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">_________________________________________</font></font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:0cm;margin-top:.15pt;"><sup><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">5</font></sup><font style="mso-bidi-font-size:12.0pt;"><font style="mso-spacerun:yes;"><font face="Times New Roman,serif" lang=EN-US style="font-size:4.0pt;">&#160;&#160; &nbsp;</font></font></font><b><font style="mso-bidi-font-weight:normal;"><font style="mso-bidi-font-size:12.0pt;"><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Note to Draft</font></u></b></font></font></b><font style="mso-bidi-font-size:12.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">: Excluded Services may be
revised by mutual agreement between signing and closing.</font></font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:0cm;margin-top:.15pt;text-align:center;"><font style="mso-bidi-font-size:12.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:0cm;margin-top:.15pt;text-align:center;"><font style="mso-bidi-font-size:12.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">D-1</font></font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ANNEX C</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Reverse Transitional Services Agreement</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,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="Times New Roman,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="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>








<p style="margin:0cm;margin-bottom:.0001pt;margin-left:0cm;margin-right:10.9pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:0cm;margin-right:10.9pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;"><font style="mso-bidi-font-size:12.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:1.0pt;line-height:5%;">&nbsp;</font></font></p>


</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin:0cm;margin-bottom:.0001pt;margin-left:0cm;margin-right:10.9pt;margin-top:3.9pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">FINAL FORM</font></p>

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

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:10.8pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">CONFIDENTIAL</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;margin-right:89.95pt;margin-top:0cm;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">NO AGREEMENT, ORAL OR WRITTEN, REGARDING OR RELATING
TO ANY OF THE MATTERS COVERED BY THIS DRAFT AGREEMENT HAS BEEN ENTERED INTO
BETWEEN THE PARTIES. THIS DOCUMENT, IN ITS PRESENT FORM OR AS IT MAY BE
HEREAFTER REVISED BY ANY PARTY, WILL NOT BECOME A BINDING AGREEMENT OF THE PARTIES
UNLESS AND UNTIL IT HAS BEEN SIGNED BY ALL PARTIES. THE EFFECT OF THIS LEGEND
MAY NOT BE CHANGED BY ANY ACTION OF THE PARTIES.</font></b></p>

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

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">__________________________________________________________________</font></b></p>

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:104.45pt;margin-right:104.55pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">REVERSE TRANSITIONAL SERVICES AGREEMENT BY
AND BETWEEN</font></p>

<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:.05pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE PNC FINANCIAL
SERVICES GROUP, INC.</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">AND</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">BANCO BILBAO VIZCAYA ARGENTARIA, S.A.</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=ES style="font-size:13.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.2pt;margin-top:10.65pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">dated as of [&#9679;]</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></font></p>


</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.2pt;margin-top:10.65pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TABLE OF CONTENTS</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p align=right style="margin:0cm;margin-bottom:.0001pt;margin-right:10.9pt;text-align:right;"><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Page</font></u></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:7.75pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE I</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">DEFINITIONS</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 1.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">General</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">1</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 1.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Interpretation; Construction</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">2</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:7.75pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE II</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">SERVICES</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Services.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">2</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Standard of Service.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">2</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.3</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Additional Services</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">3</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.4</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Change in Services</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">3</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.5</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Transitional Nature of
  Services.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">3</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.6</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Transition Service
  Representative.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">4</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.7</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">TSA Committee.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">4</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.8</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Compliance with Laws; License
  and Permits</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">4</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.9</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Limitation on Services.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">4</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.10</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Information From Service
  Provider; No Duty of Verification</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">5</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 2.11</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Emergency Maintenance and
  Shutdowns.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">5</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:7.75pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE III</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">PAYMENT</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">General.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">5</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Withholding.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">6</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.3</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Invoices.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">6</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.4</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Failure to Pay; Interest.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">7</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.5</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Access to Records.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">7</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 3.6</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Compliance with Data Privacy
  Laws; Cyber-Security.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">7</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:7.75pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE IV</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">INDEMNIFICATION; LIMITATION OF LIABILITIES</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Indemnification by Service
  Provider</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">8</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Indemnification by Service
  Recipient.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">8</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.3</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Limitation of Liability;
  Mitigation.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">9</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.4</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Claims Procedures.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">10</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.5</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Third-Party IP Matters</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">11</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.6</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Survival of Indemnification
  Obligations</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">11</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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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.7</font></b></p>
  </td>
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  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Disclaimer of Warranties.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">11</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 4.8</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Exclusive Remedy</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">12</font></p>
  </td>
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</table></div>



<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:11.9pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE V</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">COOPERATION; ACCESS; CONFIDENTIALITY;
OWNERSHIP OF DATA</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Cooperation.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">12</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">IT Security.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">13</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.3</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Intellectual Property.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">14</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 5.4</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Confidentiality</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">15</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:11.9pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE VI</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">TERM; TERMINATION</font></p>

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 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 6.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Term and Service Termination
  Dates.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">16</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 6.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Suspension Due to Force
  Majeure.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">17</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 6.3</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Effect of Termination;
  Survival.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">18</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 6.4</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Return or Destruction of
  Information.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">18</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:11.9pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE VII</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">DISPUTE RESOLUTION</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 7.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Negotiation</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">18</font></p>
  </td>
 </tr>
</table></div>



<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:11.9pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE VIII</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.35pt;margin-right:7.35pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">MISCELLANEOUS</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.1</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Notices</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">19</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.2</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Amendment; Waiver</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">20</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.3</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Assignment.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">20</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.4</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Third Party Beneficiaries</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">21</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.5</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Expenses</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">21</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.6</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Entire Agreement</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">21</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.7</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Fulfillment of Obligations.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">21</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.8</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">GOVERNING LAW AND VENUE; WAIVER OF
  JURY TRIAL</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">21</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.9</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Counterparts</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">22</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.10</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Severability.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">22</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.11</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Specific Performance.</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">23</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Section 8.12</font></b></p>
  </td>
 <td nowrap width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Relationship of Parties</font></p>
  </td>
 <td nowrap width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">23</font></p>
  </td>
 </tr>
</table></div>



<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.5pt;">&nbsp;</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Schedule A</font></b></p>
  </td>
 <td width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Services Provided by Service Provider
  to Service Recipients</font></p>
  </td>
 <td width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">A-1</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Schedule B</font></b></p>
  </td>
 <td width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Initial Transition Service
  Representatives</font></p>
  </td>
 <td width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">B-1</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Schedule C</font></b></p>
  </td>
 <td width=75% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-indent:12.0pt;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">Excluded Services</font></p>
  </td>
 <td width=8% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;text-autospace:ideograph-numeric ideograph-other;">C-1</font></p>
  </td>
 </tr>
</table></div>



<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:14.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.2pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ii</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:3.7pt;text-align:center;"><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">REVERSE TRANSITIONAL SERVICES
AGREEMENT</font></u></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">This REVERSE
TRANSITIONAL SERVICES AGREEMENT (this</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.45pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
is made and entered into as of [&#9679;] (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effective Date</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), by and
between The PNC Financial Services Group, Inc., a corporation organized under
the laws of Pennsylvania (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) and Banco Bilbao Vizcaya
Argentaria, S.A., a </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">sociedad an&#243;nima </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">organized under the laws of the
Kingdom of Spain (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;). Purchaser and Seller are each referred to
herein individually as a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; and collectively as the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Parties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#8221;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">W I T N E S S E T H:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.55pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WHEREAS, Purchaser has entered into that certain Stock Purchase
Agreement, dated as of November 15, 2020 (as it may be amended or modified from
time to time, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchase Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), with Seller, whereby Seller
will sell, and Purchaser will purchase, the all the issued and outstanding
shares of capital stock of BBVA USA Bancshares, Inc., a corporation organized
under the laws of the state of Texas (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) and a financial holding
company conducting its business operations primarily through its commercial
banking subsidiary BBVA USA, an Alabama-chartered bank (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Bank</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), upon
the terms and subject to the conditions set forth in the Purchase Agreement
(the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transaction</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;);&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WHEREAS, pursuant to the Purchase Agreement, Seller and Purchaser
agreed to duly execute a Reverse Transitional Services Agreement substantially
in the form of Exhibit C to the Purchase Agreement at the Closing;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.75pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WHEREAS, in connection with the Transaction, and in order to ensure
an orderly transition under the Purchase Agreement, following the Closing,
Purchaser shall, and shall cause any Service Provider (as defined herein) to
provide to certain Affiliates of Seller listed in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Annex&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">1&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> hereto
(each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Recipient</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) the Services (as defined below) described
herein for a transitional period;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:14.5pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WHEREAS, each of the Parties understands that the Services provided
hereunder are transitional in nature and are furnished for the purpose of
facilitating the Transaction; and</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">NOW, THEREFORE, the Parties hereto, in consideration of the premises
and the mutual covenants contained herein, agree as follows:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:205.25pt;margin-right:205.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE I</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:205.3pt;margin-right:205.25pt;margin-top:0cm;text-align:center;text-indent:-.1pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">DEFINITIONS</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">Section 1.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">General</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">. As used in this Agreement, all capitalized terms</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;line-height:11.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">not&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:53.75pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">otherwise
defined herein shall have the meanings assigned to such terms in the Purchase
Agreement.</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:61.25pt;margin-top:3.9pt;text-indent:67.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
1.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Interpretation;
Construction</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Section 1.2
of the Purchase Agreement shall apply to this Agreement </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">mutatis&nbsp;</font></i><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font></i><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">mutandis.&nbsp;</font></i></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE II</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">SERVICES</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Section 2.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">.&#160; On the terms and subject to the conditions set forth</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;line-height:11.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.9pt;">in&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.4pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">this Agreement,
Purchaser shall provide, or cause to be provided, to the applicable Service
Recipient each service specified in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, as such </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
may be supplemented or modified from time to time in accordance with the
provisions of this Agreement (each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; and collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
for the term in accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. At its option, Purchaser
may cause any Service it is required to provide hereunder to be provided</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.2pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">one or more of its
Affiliates, including Company and Bank (an &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Affiliate Service Provider</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;,
and together with Purchaser, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Provider</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) or (ii) to the
extent consistent with past practice or any change therein generally applicable
to similar services provided to Service Provider&#8217;s Affiliates, by any
contractor, subcontractor, vendor or other third party (a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Third- Party
Service Provider</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;); </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that Service Provider shall at all
times remain responsible for the performance of, or failure to perform, the
Services in accordance with the terms of this Agreement, and Service Provider
shall be liable for any breach of this Agreement by its subcontractors.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;margin-right:0cm;margin-top:.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Standard of</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In performing each
Service (subject to the terms and conditions of such Service set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule
A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">), Service Provider shall provide, or cause to be provided, substantially
the same level of service and use substantially the same degree of care as its
personnel provided and used in providing such Service during the twelve
(12)-month period preceding the Effective Date, and in no event shall Service
Provider have an obligation to perform any Service in any other manner or
quality (enhanced, increased or otherwise). Seller shall, and shall cause the
Service Recipients to, provide reasonable assistance to Service Provider in
order to receive such Service. Seller agrees that all the Services shall be for
the sole use and benefit of Service Recipients and not any other Affiliates of
Seller and solely for the purpose of conducting the business of the Service
Recipients in a manner substantially consistent with the manner in which it was
conducted in the twelve (12)-month period preceding the Effective</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Date.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:26.95pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding anything
to the contrary contained in this Agreement, with respect to any Service, (i)
Service Provider shall not be bound to apply a standard of care higher than the
standard which Service Provider customarily applies in its own affairs</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:10.9pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Provider may,
in its sole discretion, (A) perform or cause its Affiliates to perform such
Service substantially consistent with any improved or enhanced practice as
Service Provider deems reasonably prudent and (B) with respect to any Service
that is provided by Service Provider to other segments of its own business,
otherwise make <sup>1</sup>changes from time to time</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.9pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">___________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:0cm;margin-top:3.6pt;"><sup><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1</font></sup><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
Note to draft: Conforming change to TSA.</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">2</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:21.4pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the manner in which such Service is provided </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">so long</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">as&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
(1) Service Provider is making similar changes in the manner in which such
Service is provided for its own businesses in good faith,</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:14.6pt;margin-top:0cm;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(2)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Provider
consults in good faith with Seller and the applicable Service Recipient with
respect to such change, (3) Service Provider furnishes to Seller a notice in
advance which shall describe such change to be made and any increase in the
Service Fee (as defined below) related thereto and (4) Seller agrees to pay
such increased Service Fee; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that if Seller does not agree to
the increased Service Fee (if any) set forth in the notice required by this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
2.2(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> within thirty (30) days from receipt of notice, neither Service
Provider nor any of its Affiliates shall have any obligation to provide the
applicable Service thereafter, either as modified or as in existence
immediately prior to such change; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">further</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that no such
increase shall exceed 10% of the relevant Service Fees in effect as of
immediately prior to such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">change.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.9pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.3&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Additional Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. If, at any time during the term of this Agreement, a Service
Recipient identifies in writing a service that such Service Recipient desires
to obtain from Service Provider that (a) is not listed on </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and
(b) Service Provider has previously provided to the Service Recipient as part
of Service Provider&#8217;s ordinary course of business consistent with past practice
and such Service Recipient reasonably needs such service in order for such
Service Recipient to continue to operate its business in substantially the same
manner in which it was operated in the twelve (12) months preceding the
Closing, then the Parties shall negotiate in good faith mutually agreeable
terms and conditions (which shall be consistent with the terms of this
Agreement and past practice, including with respect to fees to be paid by
Purchaser or such Service Recipient to Service Provider for the provision of
such requested services, which shall be calculated consistent with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
3.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (such additional services, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Additional Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;); </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that Service Provider shall have no obligation to agree to
provide any such Additional Services that are listed on </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule C</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> as
Excluded Services. Any such Additional Services so provided by Service Provider
shall constitute a Service under this Agreement and be subject in all respects
to the provisions of this Agreement as if fully set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
as of the date</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereof.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.6pt;margin-top:4.5pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.4&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Change in Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Subject to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.2(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, each of the Parties shall be entitled
to request modifications or amendments to the Services provided hereunder, or
to the terms and conditions of any Service as set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
and if so requested, the Parties shall negotiate in good faith mutually
agreeable modifications or amendments (including with respect to fees to be
paid by Seller or such Service Recipient to Service Provider for the provision
of such services as modified or amended); </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that
no Party shall have any obligation to agree to any such modification or
amendment. In the event that Service Provider and Seller, each in its sole
discretion, mutually agree in writing to any such modification or amendment,
such Service as so modified or amended shall constitute a Service under this
Agreement and be subject in all respects to the provisions of this Agreement as
if fully set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> as of the date</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereof.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.25pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.5&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transitional Nature
of Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The Parties acknowledge the
transitional nature of the Services. Accordingly, as promptly as practicable
following the execution of this Agreement, Seller agrees to use, and cause each
Service Recipient to use, its commercially reasonable efforts to transition
each Service to its own internal organization or, to the extent that such Service
is not intended to be provided by its own internal organization,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:4.15pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">3</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.8pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">obtain alternate services from a third party by the Termination Date
(as defined below in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">6.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">) corresponding to each
Service, as set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.2pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.6&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transition Service
Representative</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The Parties shall each appoint two
(2) representatives (each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transition Service Representative</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) to
facilitate communications and performance under this Agreement. Each Party may
treat an act of a Transition Service Representative of another Party as being
authorized by such other Party without inquiring behind such act or
ascertaining whether such Transition Service Representative had authority to so
act. Each Party shall have the right at any time and from time to time to
replace its Transition Service Representative by giving notice in writing to
the other Party. The initial Transition Service Representative of each Party is
set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">B</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.4pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.7&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TSA Committee</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. A committee (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TSA Committee</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), consisting initially of
the Parties&#8217; Transition Service Representatives, will meet periodically to
confer and act reasonably as may be necessary to coordinate the provision of
Services. Such meetings shall occur on dates and times as the parties may in
good faith agree from time to time, or as the parties may otherwise agree.. No
decision of the TSA Committee may be made without at least one (1) Transition
Service Representative from each Party being present at a meeting. For the
avoidance of doubt, the TSA Committee shall not have the right to amend this
Agreement in any manner.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.5pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.8&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Compliance with Laws;
License and Permits</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Each Party shall be
responsible for its own compliance with any and all Laws applicable to its
performance under this Agreement; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that Seller shall, and shall
cause the Service Recipients to, comply with the reasonable and applicable
standard operating procedures and policies of Service Provider specifically
relating to the Services provided hereunder, as may be specified in writing to
Seller and the Service Recipients by Service</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Provider.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.9&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Limitation on</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Services</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.9pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding
anything to the contrary contained herein, Service Provider shall have no
obligation under this Agreement to provide any Service if the provision of such
Service (i) would violate any Law, (ii) would result in a breach by Service
Provider or any of its Affiliates of any Contract to which it is subject or any
other violations of Third Party&#8217;s rights (</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that Purchaser shall
have used commercially reasonable efforts to obtain any consent or approval
required to avoid such breach or violation) or (iii) would result in the
disclosure of information subject to any applicable privileges (including the
attorney-client or similar privilege) or confidentiality obligations (including
restrictions on the sharing of confidential supervisory information) (</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that in any such situation, the parties shall use commercially
reasonable efforts to make other arrangements that would enable such Service to
be provided without contravening such privilege or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">obligation).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.65pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subject to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
2.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, Service Provider shall have the right, in its sole discretion, to (i)
designate which personnel it will assign to perform a Service and (ii) remove
and replace such personnel at any time and without notice to Purchaser or the
Service Recipients. In performing their respective duties hereunder, all such
personnel of Service Provider and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:9.45pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">4</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:16.5pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">applicable Affiliates shall be under the direction, control and
supervision of Service Provider or such Affiliates, and Service Provider or
such Affiliates shall have the sole right to exercise all authority with
respect to the employment (including termination or suspension of employment),
engagement, assignment and compensation of such personnel, as applicable. For
the avoidance of doubt, neither Service Provider nor any of its Affiliates
shall have any obligations to retain or provide incentives to any particular
employee or any particular Third-Party Service Provider or to employ additional
personnel in order to provide any Services.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
2.10&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Information From Service Provider; No
Duty of</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Verification</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.8pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Provider
shall not be liable for any impairment of any Service caused by its not
receiving information or access to persons and documents or required decisions
on the part of Service Recipient, either timely or at all, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
that Service Provider has notified in writing Service Recipient&#8217;s Transition
Service Representative of such failure to receive such information, access or
decision and the impact of such failure on Service Provider&#8217;s provision of the
Services, or by its receiving inaccurate or incomplete information from Service
Recipient that is required or reasonably requested by Service Provider. Service
Provider shall not have any responsibility for verifying the accuracy or
completeness of any information given to it by or on behalf of Service
Recipient for the purpose of providing any Service.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.11&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Emergency Maintenance and</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Shutdowns</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">If Service Provider
determines that it is necessary to temporarily suspend a Service due to
emergency maintenance, modification, repairs, alterations or replacements (any
such event, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Shutdown</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), Service Provider shall use commercially
reasonable efforts to (i) provide Seller and the Service Recipients with
reasonable prior notice of such Shutdown (including reasonable information
regarding the nature and the projected length of such Shutdown), unless it is
not reasonably practicable under the circumstances to provide such prior
notice, in which case Service Provider shall provide notice as soon as
reasonably practicable</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.8pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii) restart
the Service as soon as reasonably practicable. In no event shall Service
Provider discriminate against Service Recipient relative to its own businesses
receiving similar services in connection with such actions.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.85pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In the event the
obligations of Service Provider to provide any Service shall be suspended in
accordance with this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.11</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and Service Provider has used
commercially reasonable efforts to avoid or mitigate the impact of such
Shutdown, Service Provider shall not have any liability to Seller or the applicable
Service Recipient arising out of or relating to such suspensions of Service
Provider&#8217;s provision of such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:180.3pt;margin-right:180.3pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE
III</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:180.3pt;margin-right:180.3pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">PAYMENT</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;text-align:justify;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.85pt;">Section 3.1&#160;&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.85pt;">General</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.85pt;">.&#160; In consideration of the provision of the Services,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-2.0pt;line-height:11.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.85pt;">Seller&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.55pt;margin-top:0cm;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">shall, or shall cause one of the Service Recipients to, pay to
Service Provider (a) a service fee for each such Service (all such fees with
respect to each Service, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Fee</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;, and collectively for all
Services, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Fees</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) in the amount equal to the fee set forth in
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:11.3pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">5</font></p>








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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.9pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">respect to such Service, which amounts reflect the cost of providing
such Services, are consistent with past practice, and the corresponding costs
are consistent with those reflected in the Financial Statements, (b) any additional
reasonable out-of-pocket costs or expenses, including postage and other
delivery costs, telephone, telecopy and similar expenses, incurred by Service
Provider, any of its Affiliates or any Third-Party Service Provider related to
the provision of such Service hereunder and any payments or costs that would
otherwise not be incurred but for the provision of the Services hereunder in
connection with any ongoing license, grant or provision of rights or services
and (c) any applicable value added, goods and services, sales, use,
consumption, excise, service, transfer, stamp, documentary, filing, recordation
Taxes or similar Taxes (a Tax shall not be considered to be similar if it is
imposed on net or gross income) that may be imposed with respect to the
provision of the Services</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereunder.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.75pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Withholding</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Seller and each Service Recipient shall be entitled to deduct and
withhold from any payments hereunder such amounts as are required to be
deducted and withheld pursuant to applicable Tax Law. The Parties shall
reasonably cooperate with each other in order to eliminate or to reduce any
such deduction or withholding, including providing forms or other evidence that
would mitigate, reduce or eliminate such deduction or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">withholding.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.3&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Invoices</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:13.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">All payments shall be
made by Seller or one of the Service Recipients within thirty (30) days (a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Payment
Period</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) after receipt of an invoice therefor. Service Provider shall send
invoices on a monthly basis for payments to be made under this Agreement. If
any Service is terminated in accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and such
termination is effective prior to the last day of any calendar month, the
amount due for such Service for such final</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">month
will be pro-rated based on the number of days in such month prior to the
effectiveness of such termination. Such invoices shall specify the costs and
expenses to be reimbursed by Seller or one of the Service Recipients and
enclose any invoices from the relevant third parties. All payments made by
Seller or one of the Service Recipients under this Agreement shall be by wire
transfer of immediately available funds of the payment amount to Service
Provider&#8217;s account identified in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> attached hereto or other
account notified in writing by Service Provider to Purchaser or Service
Recipient, as applicable. All such payments shall be effective upon receipt.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.65pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller shall, or shall
cause one of the Service Recipients to, pay Service Provider the full amount
due on any invoice and other amounts required to be paid by Purchaser under
this Agreement and shall not set-off any amount; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that the
Service Recipient may withhold payments for any portion(s) of amounts alleged
to be due that it disputes in good-faith. In the event Seller disputes in good
faith any portion of the amount due on any invoice, then Seller shall, or shall
cause one of the Service Recipients to, pay any undisputed amount in accordance
with this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE III</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, but shall notify Service Provider in writing of
the nature and basis (in reasonable detail) of the dispute concurrently with or
prior to the date that such payment is due. If no notification is provided to
Service Provider in accordance with the immediately preceding sentence, the
invoiced amount shall be deemed to be accurate and correct and shall not be
subject to dispute or contest by either Party or any Affiliate thereof. In the
event notification is so provided to Service Provider, the Parties shall use
their commercially reasonable efforts</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:5.8pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">6</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:16.8pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">resolve the dispute promptly. There shall be no right of set-off or
counterclaim with respect to any claim, debt or obligation against payments to
Service Provider under this Agreement; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that the Service
Recipients may net any amount payable to Service Provider under this Agreement
against any amount that Service Provider is obligated to pay or transmit to the
Service Recipient pursuant to the Services.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.1pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.4&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Failure to Pay;
Interest</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Any amounts not received by Service
Provider within the applicable Payment Period shall be subject to a late
payment fee computed daily at a rate equal to the prime lending rate as quoted
in the </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Wall Street Journal </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">on the last Business Day of the month of such
overdue invoice per annum plus two-hundred (200) basis points from the due date
of such amount to the date such amount is paid in full. Seller agrees to pay,
or cause one of the Service Recipients to pay, Service Provider&#8217;s reasonable
attorneys&#8217; fees and other costs incurred in collection of any amounts owed to
Service Provider hereunder and not paid when due. Notwithstanding anything to
the contrary contained herein, in the event Purchaser or such Service Recipient
fails to make a payment of any amount when due hereunder, and such failure
continues for a period of sixty (60) days following delivery of notice to
Purchaser or such Service Recipient in receipt of the applicable Service of
such failure, Service Provider shall have the right to suspend provision of all
Services to Service Recipients until such overdue payment (and any applicable
late payment fee accrued with respect thereto) is paid in full. Such right of
Service Provider shall not in any manner limit or prejudice any of Service
Provider&#8217;s other rights or remedies as provided in this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.5&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Access to</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Records</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.0pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each Party shall, in
accordance with its respective generally applicable recordkeeping policies and
procedures, keep reasonable books and records of all Services for the other
Party to verify all charges made under this Agreement and to comply with
applicable Law. Each Party shall, upon the other Party&#8217;s reasonable request and
at such requesting Party&#8217;s sole cost and expense, make such books and records
available to such requesting Party, upon reasonable notice and during normal
business hours for the sole purpose of verifying any charges made hereunder or
complying with any applicable Law (other than in connection with a dispute,
claim or litigation between Service Provider and Seller or any Affiliate of
Service Provider or Seller). Nothing in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.5</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall require
any Party to maintain its books and records relating to any Services in
connection with this Agreement indefinitely or in a manner, or for a length of
time, inconsistent with the manner or length of time that it generally
maintains its books and records with respect to its other businesses. If any
access request reveals an overpayment by Seller or any Service Recipient,
Service Provider will promptly refund the amount of such overpayment.&#160; If any
access request reveals an underpayment by any Seller or any Service Recipient,
Seller or such Service Recipient will promptly pay to Service Provider the
amount of such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">underpayment.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:38.85pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Upon Seller&#8217;s request,
Purchaser shall provide copies of any periodic independent third-party or
internal audits performed in respect of Purchaser&#8217;s data center locations.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:0cm;margin-top:4.5pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.6&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Compliance with Data
Privacy Laws;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Cyber-Security.&nbsp;</font></u></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:9.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">7</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.45pt;margin-top:3.9pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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 face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each Party shall comply
in all material respects with all Applicable Laws related to the collection,
use and security of data in connection with the provision or receipt of
Services pursuant to this Agreement. If any Party has access to or receives
Personal Information data pursuant to this Agreement, it shall only use the
data to the extent strictly necessary for the performance of such Party's
obligations under this Agreement.</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.55pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each Party shall
maintain commercially reasonable administrative, technical and physical
safeguards for all confidential information, including Personal Information,
disclosed to, accessed or obtained by such Party in connection with this
Agreement (collectively, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Protected Information</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), consistent with such
Party&#8217;s past practice, to (a) restrict the use and disclosure of such Protected
Information within Service Provider to those individuals performing actions in
connection with this Agreement or as required by Applicable Law, (b) ensure the
security and confidentiality of Protected Information, (c) protect against any
anticipated threats or hazards to the security or integrity of Protected
Information, and (d) protect against unauthorized access to or use of Protected
Information.If a Party becomes aware of any actual or suspected security breach
such Party or any of its subcontractors suffers or learns of, that either
compromises or could reasonably compromise any Protected Information of the
other Party (including but not limited to physical trespass of a secure
facility, computing systems intrusion/hacking, loss/theft of a computer or
personal computer, loss/theft of printed material, etc.) (collectively, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Security
Breach</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), to the extent permitted by Applicable Law, such Party will
promptly notify the other Party of such Security Breach and will take
reasonable actions to investigate and remediate the Security</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Breach.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">INDEMNIFICATION;
LIMITATION OF LIABILITIES</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.35pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnification by
Service Provider</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Subject to the limitations set
forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and the other provisions of this Agreement, Service
Provider agrees to indemnify, defend and hold harmless Seller and each Service
Recipient, their respective Affiliates and their respective officers,
directors, employees, agents, successors and assigns (each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service
Recipient Indemnified Person</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;, and collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Recipient</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnified Persons</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) from and against, and shall reimburse the Service
Recipient Indemnified Persons for, all Losses actually sustained, incurred or
suffered by any Service Recipient Indemnified Person to the extent resulting
from, arising out of or relating to (a) Service Provider&#8217;s breach of this
Agreement, (b) the gross negligence, willful misconduct or fraud of any Service
Provider Indemnified Person (as defined below) in connection with its
performance of obligations under this Agreement other than Losses resulting
from, arising out of or relating to any Service Recipient Indemnified Person&#8217;s
gross negligence, willful misconduct, fraud or breach of its obligations pursuant
to this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.3pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnification by
Service Recipient</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Subject to the limitations set
forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and the other provisions of this Agreement, Seller,
on behalf of itself and the Service Recipients, agrees to indemnify, defend and
hold harmless each of Service Provider, its Affiliates and their respective
officers, directors, employees, agents, successors and assigns (each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service
Provider Indemnified Person</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;, and collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Provider</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnified Persons</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) from and against, and shall reimburse the Service
Provider Indemnified Persons for, all Losses actually sustained, incurred or
suffered by any Service</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Provider&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:5.75pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">8</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.45pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnified Person to the extent resulting from, arising out of or
relating to (a) Service Recipient&#8217;s breach of this Agreement, or (b) any
Service Recipient Indemnified Person&#8217;s gross negligence, willful misconduct or
fraud in connection with its performance of obligations under this Agreement,
other than Losses resulting from, arising out of or relating to any Service
Provider Indemnified Person&#8217;s gross negligence, willful misconduct, fraud or
breach of its obligations pursuant to this Agreement.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Limitation
of Liability;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mitigation</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:12.55pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Neither Party&#8217;s
aggregate liability for Losses with respect to the matters contemplated by this
Agreement shall exceed the aggregate amount of Service Fees actually paid or
payable pursuant to this Agreement in the twelve (12)-month period after the
Closing (or portion</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">thereof).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:119.0pt;margin-right:0cm;margin-top:.05pt;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.75pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">Notwithstanding
anything to the contrary contained in this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;line-height:13.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">Agreement,&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:13.85pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i) no Service
Provider or Service Recipient shall have any liability to any Service Recipient
Indemnified Person or Service Provider Indemnified Person, respectively, for
any consequential, indirect, speculative, incidental, punitive, or special
damages, opportunity cost or lost prospective economic advantage, or other
similar damages or Losses as a result of or arising from or relating to this
Agreement, the provision of or the failure to provide the Services hereunder or
any other transactions contemplated hereby and (ii) no &#8220;multiple of profits&#8221; or
&#8220;multiple of cash flow&#8221; or other valuation methodology or performance metric
shall be used in calculating the amount of Losses.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:11.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each indemnified Party
(the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnified Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) shall use its respective reasonable best
efforts to mitigate any Loss in respect of which such Indemnified Party is
entitled to recover from an indemnifying Party (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnifying Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
pursuant to this</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> ARTICLE IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> upon acquiring actual knowledge of any event
which would be reasonably likely to, or does, give rise to such Loss. In the
event an Indemnified Party fails to so use its reasonable best efforts to
mitigate an indemnifiable Loss in accordance with the preceding sentence, the
portion of such Loss that could reasonably have been avoided had the
Indemnified Party made the efforts required by this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall
not be recoverable from the Indemnifying Party pursuant to this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.5pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Any indemnity payment
made by the Indemnifying Party to the Indemnified Party pursuant to this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> in respect of a Loss shall be net of an amount equal to (i) any
insurance proceeds actually received and any other amounts actually recovered
from third parties (whether by payment, discount, credit, relief, insurance or
otherwise) by the Indemnified Party or an Affiliate in respect of such claim, </font><i><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">less&nbsp;</font></u></i><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii) any related costs and expenses of such receipt or recovery, including
any deductible or similar cost and the aggregate cost of pursuing any related
insurance claims. If the Indemnified Party or an Affiliate thereof receives any
amounts under applicable insurance policies, or from any other Person alleged
to be responsible for any Losses, subsequent to an indemnification payment by
the Indemnifying Party, then such Indemnified Party shall promptly reimburse
the Indemnifying Party for any payment made or expense incurred by such
Indemnifying Party in connection with providing such indemnification payment up
to the amount received by the Indemnified Party or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:9.4pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">9</font></p>








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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:54.15pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Affiliate, net of any deductible or similar cost and reasonable
documented out-of-pocket expenses incurred by such Indemnified Party in
collecting such amount.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.5pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Any amount paid by the
Indemnifying Party to the Indemnified Party pursuant to this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
in respect of a Loss shall be reduced by an amount equal to any net Tax benefit
actually realized (including, without limitation, the utilization of a Tax loss
or Tax credit carried forward) as a result of such Loss by the Indemnified
Party claiming such Loss in the taxable year in which such Loss occurred
(determined on a &#8220;with and without&#8221;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">basis).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(f)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In no event shall
either Party be responsible or liable pursuant to this</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> ARTICLE IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or
otherwise for (i) any specific act or omission to act by such Party if such
specific action or omission to act is taken at the express written direction of
the other Party or any Affiliate of the other Party, or (ii) any Losses to the
extent caused by or resulting from the failure of the other Party or any of the
other Party&#8217;s Affiliates to perform any of their obligations under this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:23.9pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(g)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The limitations
contained in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> are an essential part of this Agreement
between the Parties and are intended to be enforced (by a court or otherwise)
as written. In any legal proceedings for damages, each Party agrees to
explicitly waive any claim for damages in conflict with these</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">limitations.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.85pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.4&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Claims Procedures</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. If an Indemnified Party becomes aware of any fact, matter or
circumstance that may give rise to a claim for indemnification under this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, the Indemnified Party shall give prompt written notice (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Claim
Notice</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) thereof to the Indemnifying Party. The Indemnifying Party may
elect to direct the defense or settlement of any such claim by giving prompt
written notice to the Indemnified Party; provided, however, that an
Indemnifying Party shall not have the right to assume and control the defense
of any criminal or regulatory action or claim, any claim seeking non-monetary
remedies, or any claim where the portion of the claim for which the Indemnified
Party would not be indemnified is reasonably likely to exceed the portion of
the claim for which it would be indemnified. If the Indemnifying Party elects
to direct the defense or settlement of any claim, it will have the right to
employ counsel reasonably acceptable to the Indemnified Party to defend any
such claim, or to compromise, settle or otherwise dispose of the same, if the
Indemnifying Party deems it advisable to do so, all at the expense of the
Indemnifying Party; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that the Indemnifying Party will not
settle, or consent to any entry of judgment in, any proceeding relating to the
claim (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Proceeding</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) without obtaining either: (i) an unconditional
release of the Indemnified Party from all liability with respect to all claims
underlying such claim in an arrangement where the only relief consists solely
of monetary damages to be paid entirely by the Indemnifying Party (or a
liability insurer thereof) ; or (ii) the prior written consent of the
Indemnified Party, which shall not be unreasonably withheld, conditioned or
delayed. An Indemnified Party will not settle or consent to any entry of
judgment in any Proceeding without obtaining the prior written consent of the
Indemnifying Party, which shall not be unreasonably withheld, conditioned or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">delayed.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:28.1pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Indemnified
Party and the Indemnifying Party will fully cooperate with each other in any
such Proceeding and will make available to each other any books or records to
the extent reasonably necessary for the defense of any such Proceeding.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:14.5pt;">&nbsp;</font></p>

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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:3.9pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.5&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Third-Party IP</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Matters</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.95pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding
anything else in this Agreement to the contrary, in the event of any breach of
this Agreement by either party or the incurrence of any liability to the extent
arising out of or relating to the failure of a third party to provide, or
provide access to, the Intellectual Property rights licensed by such third
party to the Service Provider (a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Third-Party IP Matter</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) in respect of
any Service, (i) Service Provider&#8217;s sole and exclusive obligation in respect of
any such breach or liability (including the failure to provide any Services)
shall be to use its commercially reasonable efforts to (A) enforce the terms of
the applicable agreement between Service Provider and such third-party
provider, and (B) to the extent Service Provider is unable to enforce the terms
of such agreement with such third-party provider, to devise and implement a
work-around solution pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.5(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and (ii) Seller&#8217;s sole
and exclusive remedy for such breach or liability is to request Service
Provider to engage in the actions contemplated by clause (i) of this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
4.5(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#160; Notwithstanding anything else in this Agreement to the contrary,
in no event shall Service Provider otherwise be responsible or liable for any
breach or liabilities to the extent that they arise out of or relate to any
Third-Party IP</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Matter.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.65pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">If Service Provider is
unable to enforce the terms of an agreement between Service Provider and a
third-party provider pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.5(a)(i)(A)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, Service Provider
shall use commercially reasonable efforts to promptly devise a work-around
solution and provide notice of such proposal to Seller pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, including any estimated costs associated with such proposal. Seller
will have five (5) Business Days from receipt of such notice to accept or
reject such proposal.&#160; If Seller does not respond within five (5) Business
Days, Seller will be deemed to have rejected such proposal. If Seller accepts
such proposal within five (5) Business Days of receipt of notice, Service
Provider shall use commercially reasonable efforts to promptly implement such
proposal, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that Seller agrees to bear all reasonable and
documented costs and expenses associated</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">therewith.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.4pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.6&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Survival of Indemnification
Obligations</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. If any Indemnified Party does not give
a Claim Notice to the Indemnifying Party of any claim pursuant to this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Article
IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> within (a) three (3) months after the termination or expiration of the
last Service to terminate or expire or (b) three (3) months after the date when
such Indemnified Party becomes or ought to have become aware of the facts
giving rise to such claim, whichever is later, such Party shall be deemed to
have waived such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">claim.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:16.95pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.7&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Disclaimer of Warranties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Seller hereby acknowledges that Service Provider and its
Affiliates do not as part of its usual or regular conduct of business provide
any or all of the Services, or any related services, on a commercial basis to
third parties, as part of its business. EXCEPT AS EXPRESSLY SET FORTH IN </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SECTION
2.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, THE SERVICES ARE PROVIDED &#8220;AS IS&#8221; WITH ALL FAULTS AND WITHOUT WARRANTY
OF ANY KIND. EXCEPT AS EXPRESSLY SET FORTH IN </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SECTION 2.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, NONE OF
SERVICE PROVIDER OR ANY OTHER PERSON MAKES ANY OTHER REPRESENTATION OR
WARRANTY, WHETHER WRITTEN OR ORAL, OR EXPRESS OR IMPLIED, AT LAW OR IN EQUITY,
IN RESPECT OF SERVICE PROVIDER OR ANY OF ITS AFFILIATES, THE BUSINESS, THE
QUALITY, SUITABILITY, AVAILABILITY, RELIABILITY, SECURITY, PERFORMANCE,
ACCURACY OR ADEQUACY OF</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:7.65pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">11</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:31.0pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SERVICES, AND NONE OF SERVICE PROVIDER OR ANY OTHER PERSON MAKES ANY
REPRESENTATIONS OR WARRANTIES, WHETHER WRITTEN OR ORAL, OR EXPRESS OR IMPLIED,
AT LAW OR IN EQUITY, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR ANY
PARTICULAR PURPOSE, TITLE, QUIET ENJOYMENT, NO ENCUMBRANCES, SYSTEM
INTEGRATION, ACCURACY, WORKMANLIKE EFFORT, NONINFRINGEMENT AND WARRANTIES
ARISING THROUGH THE COURSE OF DEALING OR USAGE OF TRADE. ANY SUCH OTHER
REPRESENTATION OR WARRANTY IS HEREBY EXPRESSLY DISCLAIMED BY SELLER ON BEHALF
OF ITSELF AND ITS AFFILIATES, INCLUDING THE SERVICE RECIPIENTS. NO ORAL OR
WRITTEN INFORMATION OR ADVICE GIVEN BY SERVICE PROVIDER OR ANY OF ITS
AFFILIATES OR REPRESENTATIVES SHALL CREATE A WARRANTY OR IN ANY WAY INCREASE
THE SCOPE OF SERVICE PROVIDER&#8217;S OBLIGATIONS UNDER THIS AGREEMENT.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.65pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.8&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Exclusive Remedy</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except in the case of (a) intentional fraud, or with respect to
matters for which the remedy of specific performance, injunctive relief or
other non-monetary equitable remedies are available in accordance with this
Agreement or (b) as otherwise expressly provided in this Agreement, the rights
and remedies under this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> are exclusive and in lieu of any and
all other rights and remedies that Service Provider or any of its Affiliates
may have against Purchaser or any of its Affiliates or Representatives, or
Purchaser or any of its Affiliates may have against Service Provider or any of
its Affiliates or Representatives under this Agreement or any failure to perform
any covenant or agreement set forth in this Agreement. Each Party expressly
waives any and all other rights, remedies and causes of action it or its
Affiliates may have against the other Party or its Affiliates or
Representatives now or in the future under any Law with respect to the
transactions contemplated by this Agreement. The remedies expressly provided in
this Agreement shall constitute the sole and exclusive basis for, and means of
recourse between, the Parties and their Affiliates with respect to transactions
contemplated by this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:.05pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE V</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">COOPERATION; ACCESS; CONFIDENTIALITY;
OWNERSHIP OF DATA</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:82.95pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Cooperation</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:23.0pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each Party shall, and
shall cause its Affiliates to, use their respective commercially reasonable
efforts to (i) cooperate with the other Party, any of its Affiliates and any
Third-Party Service Provider in all matters relating to the provision and
receipt of the Services and (ii) enable Service Provider, any of its Affiliates
providing a Service and any Third-Party Service Provider to provide the
Services in accordance with this Agreement.</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Such&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.1pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">cooperation
shall include, but not be limited to, exchanging information and materials,
providing electronic access to any necessary IT Assets (as defined below in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.2(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">) required in connection with the provision or receipt of the
Services, performing true-ups and adjustments and obtaining all consents,
waivers, permits, licenses, sublicenses or approvals reasonably necessary to
permit each Party to perform its obligations hereunder. Any costs and expenses
payable to third parties (other than the respective Representatives of each of
the Parties) in</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:7.6pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">12</font></p>








</div><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_139"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:29.25pt;margin-top:3.9pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">connection with any consents, waivers,
permits, licenses, sublicenses or approvals required in connection with the
provision of Services during the Term shall be mutually agreed to by the
Parties and set forth on the Service Schedule.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.25pt;margin-top:.05pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each Party agrees and
acknowledges that Service Provider may not be able to provide certain Services
unless certain data, information, material, personnel, facilities or assets are
provided to Service Provider by Service Recipients and certain actions are
taken by Service Recipients within a reasonable period of time prior to the
commencement or completion of the Services. Service Provider shall not be
deemed to be in breach of its obligations under this Agreement to the extent
that Service Provider cannot provide any Services due to Service Recipients
failing to timely deliver to Service Provider such data, information, material,
personnel, facilities or assets as Service Provider reasonably requests, or
failing to timely take any action reasonably requested by Service Provider, <sup>2</sup>that
is reasonably necessary to enable Service Provider to provide such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Services.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:15.65pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Recipients
shall (i) make available on a timely basis such information and materials as
are reasonably requested by Service Provider, any of its Affiliates providing a
Service or any Third-Party Service Provider to enable such Person to provide
the Services; (ii) upon reasonable advance notice, provide to Service Provider,
any of its Affiliates providing a Service or any Third-Party Service Provider
reasonable access to its employees, personnel, premises and facilities during
normal business hours and the equipment, systems, software and networks located
therein, to the extent reasonably necessary, desirable or advisable for the
purpose of providing the Services; and (iii) use its commercially reasonable
efforts to maintain such premises, facilities, equipment, systems, software and
networks located therein in proper working order and in compliance with all
applicable workplace safety and applicable Laws.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:4.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IT&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Security</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.85pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">While using or
accessing the technology, devices, computers, software, servers, networks,
workstations, routers, hubs, circuits, switches, data communications lines, or
any other information technology equipment (collectively, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IT Assets</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
of the other Party in connection with the provision or receipt of a Service,
each Party shall, and shall cause each of its Affiliates and any Third-Party
Service Providers (as applicable) to, adhere in all respects to the other
Party&#8217;s controlled processes, policies and procedures (including with respect
to confidential information, data, communications and system privacy,
operation, security and proper use) as in effect on the Closing Date or as
communicated from time to time in</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">writing.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.5pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each of the Parties
shall maintain reasonable security measures (i) to prevent unauthorized access
to its IT Assets used in connection with the provision and receipt of the
Services; (ii) to prevent unauthorized access, use, destruction, alteration or
loss of all data or other information contained in such IT Assets; (iii) to
ensure that only authorized personnel</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">gain&nbsp;</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.9pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">___________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:0cm;margin-top:3.6pt;"><sup><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2</font></sup><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;">Note to draft</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">: conforming change to TSA.</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">13</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.8pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">access to such IT Assets, and such data and information; (iv) to
ensure the security and integrity of all data or other information contained in
such IT Assets; and (v) to ensure that no disabling code or instructions,
spyware, viruses, Trojan horses, worms, ransomware, malware or other malicious
code or software routines that facilitate or cause unauthorized access to, or
disruption, impairment, disablement, or destruction of, software, data or other
material is introduced to the other Party&#8217;s IT Assets. Such measures shall in
no event be less stringent than, in each case of clauses (i), (ii), (iii) (iv),
and (v), those used to safeguard such Party&#8217;s IT Assets not used in connection
with the provision and receipt of the Services. Such measures shall include,
where appropriate, the use of reasonable firewalls, virus screening software,
multi-factor authentication, logon identification and passwords, encryption, intrusion
detection systems, logging of incidents, periodic reporting, and prompt
application of current security patches, virus definitions and other updates as
needed.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:31.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each of the Parties may
immediately suspend the other Party&#8217;s (and its Affiliates&#8217; and any Third-Party
Service Providers&#8217;) access (if any) to its IT Assets following written notice
to the extent reasonably practicable if, in such first Party&#8217;s reasonable</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">opinion&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.95pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i) the
integrity, security or performance of its IT Assets, or any data or other information
stored therein, is being or is likely to be jeopardized by the activities of
the other Party (or its Affiliates or any Third-Party Service Providers), or
(ii) continued access to its IT Assets by the other Party (or by its Affiliates
or any Third-Party Service Providers) would expose such first Party to any
material Liability. In such a case, each of the Parties shall take appropriate
corrective actions and if such actions fully resolve the matter (as determined
by the Party providing such access to its IT Assets in its sole good faith
discretion), the Party providing access to its IT Assets shall restore such
access to the other Party as promptly as</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">possible.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:12.25pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(d)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each of the Parties
shall cooperate with the other Party in the investigation of any actual or
suspected unauthorized access of such other Party&#8217;s IT Assets implicating the
first Party&#8217;s compliance with the terms of this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:17.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(e)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding the
foregoing, Service Provider reserves the right in its sole discretion to
terminate all Services that provide access to its IT Assets that are impacted
by Service Recipient&#8217;s breach of this Section 5.2, without termination
liability, if Service Recipient remains in breach of this Section 5.2 ten (10)
Business Days after receipt of notice of such breach, provided that Service
Provider shall reasonably cooperate with Service Recipient, at Service
Recipient&#8217;s expense, to cure such breach and restore such Services following
such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">cure.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.3&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Intellectual&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Property</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:16.6pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Solely to the extent
required for the provision or receipt of the Services in accordance with this
Agreement, each Party, for itself and on behalf of its respective Affiliates,
hereby grants to the other (and its respective Affiliates) a non-exclusive,
fully paid-up, royalty- free, world-wide, revocable (only as expressly set
forth herein), non-transferable (except as provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">),
non-sublicensable (except to Third-Party Service Providers) license to such
Intellectual Property that is owned and controlled by the granting Party, but
only to the extent and for the duration necessary for the other Party to
provide or receive the applicable Service as permitted by this Agreement. Upon
the expiration or termination of such Service</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:9.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">14</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:19.8pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, any license to any Intellectual
Property relevant to such Service (and not required for the provision or
receipt of any other Service) shall also automatically terminate; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that all licenses granted hereunder shall automatically
terminate immediately upon the expiration or termination of this Agreement in
accordance with the terms hereof.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.9pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Except as otherwise
expressly set forth in this Agreement, the Purchase Agreement or the
Transitional Trademark License, each Party and its respective Affiliates shall
retain all right, title and interest in and to its respective Intellectual
Property (and to any and all improvements, modifications and derivative works
thereof), and no Party nor any of its Affiliates shall have any rights or
licenses, express, implied or otherwise, with respect to any Intellectual
Property (including rights to any software, hardware or other facility) of the
other Party or its Affiliates. All rights and licenses not expressly granted in
this Agreement are expressly reserved by each</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:10.7pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.4&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Confidentiality</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:30.45pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.5 of the
Purchase Agreement shall apply </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">mutatis mutandis </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to this Agreement and
any confidential information shared among Seller, Service Provider, Purchaser,
the Service Recipients and any Third-Party Service Provider, as</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">applicable.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:13.65pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">With respect to any
Service, each Party agrees that (i) all software, hardware or data, procedures
and materials provided to it by or on behalf of the other Party in connection
with such Service are solely for purposes of the provision or receipt of such
Service in connection with this Agreement; (ii) each Party agrees that it shall
not copy, modify, reverse engineer, decompile, distribute or in any way alter
or make derivative works of any software, hardware or data provided by the
other Party for the provisions or receipt of the Services without the providing
Party&#8217;s prior written consent and (iii) each Party shall comply with any and
all usage guidelines pertaining to any Service and provided by or on behalf of
the other Party, including any and all usage guidelines pertaining to software,
data, or other intellectual property or proprietary rights. Nothing in this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
V</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall be construed as obligating any Party to disclose its confidential
information to any other Person, or as granting to or conferring on any other
Person, expressly or by implication, any rights or license to the disclosing
Party&#8217;s confidential information; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that the Parties acknowledge
that, in order to perform the Services, Service Provider shall have custody and
usage of certain of Service Recipient&#8217;s confidential information and Service
Recipient hereby grants such rights to Service Provider solely for purposes of
Service Provider&#8217;s performance under this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

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

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

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">15</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE VI</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">TERM; TERMINATION</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">Section 6.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">Term and Service Termination</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;line-height:11.8pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">Dates<sup>3</sup>.</font></u></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:14.5pt;margin-top:12.0pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subject to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
6.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and any early termination of this Agreement in its entirety pursuant to
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, this Agreement shall terminate in its entirety upon the
termination of all Services to be provided hereunder pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
6.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, as applicable, unless otherwise mutually
agreed by the Parties; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that the rights of the Parties in
respect of any claims that have accrued prior to such termination shall survive
such termination.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.65pt;margin-top:4.5pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each of the Services
shall be provided commencing on the Effective Date and shall continue until the
earlier to occur of (i) the applicable termination date set forth in</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> with respect to such Service (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Termination Date</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;),
unless otherwise mutually agreed by the Parties, (ii) termination of such
Service in accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.2(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and
(iii) termination of this Agreement in accordance with the terms hereof prior
to the Termination Date of such Service. Seller may terminate or reduce any
Service prior to its Termination Date set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> by
providing to Service Provider written notice thereof, not less than thirty (30)
days prior to the date of such earlier termination or reduction except as
otherwise specified in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that if the Service
requested to be terminated or reduced prior to the Termination Date set forth
on </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> is being provided by a Third-Party Service Provider,
Seller shall be responsible for any payments due to such Third- Party Service
Provider as a result of such early termination. The Parties agree that (A) if
any Service is dependent on one or more of the other Services, then each such
Service must be terminated or reduced together; and (B) any termination or
reduction may be on a location by location basis if so indicated on </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Schedule
A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. In the event one or more, but less than all, of the Services are expired
or terminated pursuant to the terms of this Agreement, (1) this Agreement will
continue in full force and effect with respect to any of the Services not so
discontinued, subject to the terms and conditions of this Agreement, (2)
Service Provider will have no further obligation to provide such terminated
Service, except as otherwise agreed by the Parties, (3) Seller shall remain
obligated to Service Provider for any accrued and unpaid amount owed to Service
Provider hereunder in respect of such terminated Service that was provided
prior to the effective date of such termination and (4) any and all rights to
Intellectual Property granted hereunder in connection with the provision of a
terminated Service shall immediately cease upon such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">termination.&nbsp;</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.9pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">___________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:47.0pt;margin-right:10.65pt;margin-top:3.6pt;text-indent:-36.0pt;"><sup><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">3</font></sup><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;">Note to draft: </font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Term of 12 months, or such
shorter period as may be agreed prior to Closing, including with respect to
such Services that will be provided following Closing by bank systems that are
subject to conversion.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:47.0pt;margin-right:13.5pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">To be clear, following the primary bank system
conversion, Planet will not be able to provide reverse services that are
dependent on the Company&#8217;s current systems/providers, as discussed by the
parties. The term for reverse services must end at month end preceding the
month in which conversion occurs (which is expected to occur Columbus Weekend
2021).</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">16</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:119.0pt;margin-right:0cm;margin-top:3.9pt;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</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;
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Early&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Termination</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:21.0pt;margin-top:.05pt;text-indent:108.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Without limiting </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
3.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.2(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, in the event either Party materially breaches
this Agreement, and if such breach is not excused or not cured within thirty
(30) days after the receipt of written notice from the other Party specifying
such breach, then the other Party may at any time thereafter terminate this
Agreement in its entirety or any such Service that is the subject of such breach
by giving five (5) days&#8217; prior written</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">notice.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.95pt;margin-top:.05pt;text-indent:108.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In the event a
Bankruptcy Event has occurred with respect to either Party, the other Party may
at any time immediately terminate this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.35pt;margin-top:0cm;text-align:justify;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">For purposes of this Agreement, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Bankruptcy Event</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;
with respect to a Party shall mean the filing of an involuntary petition in
bankruptcy or similar proceeding against such Party seeking its reorganization,
liquidation or the appointment of a receiver, trustee or liquidator for it or
for all or substantially all of its assets, or if such Party shall (a) apply
for or consent in writing to the appointment of a receiver, trustee or
liquidator of all or substantially all of its assets,</font></p>

<p style="margin-bottom:0cm;margin-left:27.95pt;margin-right:0cm;margin-top:0cm;text-indent:-17.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.75pt;">&nbsp;&nbsp; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">file a voluntary petition or admit in
writing its inability to pay its debts as they become</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;line-height:13.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">due,&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.9pt;margin-top:.05pt;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(c)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">make a general
assignment for the benefit of creditors, (d) file a petition or an answer
seeking reorganization or an arrangement with its creditors or take advantage
of any insolvency law with respect to itself as debtor or (e) file an answer
admitting the material allegations of a petition filed against it in any
bankruptcy, reorganization, insolvency proceedings or any similar proceedings.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.95pt;margin-top:4.5pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Suspension Due to
Force Majeure</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The obligations of Service Provider
under this Agreement with respect to any Service shall be suspended during the
period and to the extent that Service Provider (or its Affiliates or a
Third-Party Service Provider, as applicable) is prevented or hindered from
providing such Service, or any Service Recipient is prevented or hindered from
receiving such Service, due to any of the following causes beyond such Party&#8217;s
reasonable control (such causes, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Force Majeure Events</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;): (a) acts of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">God;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.15pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b) storm,
earthquake, flood, fire or explosion; (c) acts of war (whether or not
declared), armed hostilities or terrorism, cybersecurity breaches, or the
escalation or worsening thereof, invasion, riot or other civil unrest; (d)
Government Order or applicable Law; (e) embargoes or blockades;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.2pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(f) action by
any Governmental Authority, including a Government Shutdown; (g) international,
national or regional emergency, including a Contagion Event; (h) shortage of
adequate power, raw materials or transportation facilities; (i) strikes, labor
stoppages, slowdowns or disputes or other industrial disturbances; or (j) any
other event which is beyond the reasonable control of such Party. The Party
suffering a Force Majeure Event shall give notice of suspension as soon as
reasonably practicable to the other Party stating the date and extent of such
suspension and the cause thereof, and the Service Fee shall be equitably
adjusted to reflect the reduced performance. Neither Service Provider nor
Seller shall be liable for the nonperformance or delay in performance of its
respective obligations under this Agreement when such failure is due to a Force
Majeure Event; (i) notwithstanding anything herein to the contrary, Seller&#8217;s
obligation to make any payment due and payable hereunder for Services actually
provided hereunder shall not be suspended in the case of a Force Majeure Event
(except to the extent of Services not provided) and (ii) each affected Party
shall use commercially reasonable efforts to minimize the effect of any such
event and shall resume the performance of its duties and obligations</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereunder&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:7.55pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">17</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.4pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">as soon as reasonably practicable after the end of the Force Majeure
Event. The time for completion for any Service so suspended shall be
automatically extended for a period of time equal to the time lost by reason of
such suspension. From and during the occurrence of a Force Majeure Event,
Service Provider shall not be under any obligation to replace the affected
Services; provided, however, that if Service Provider replaces comparable
services for itself or its Affiliates, it shall do the same for Service
Recipient.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.85pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.3&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effect of
Termination; Survival</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. In the event this Agreement
expires or is terminated in accordance with this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE VI</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, then (a)
all Services will promptly cease and (b) no Party shall be released from any
liability or obligation that has already accrued as of the effective date of
such expiration or termination, and no rights already accrued hereunder shall
be affected. The provisions of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE I</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE III</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE
IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE VII</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE VIII</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.5</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
5.2(d)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.5pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u></p>

<p style="margin-bottom:0cm;margin-left:29.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">6.3</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.75pt;">&nbsp; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">shall survive the expiration or termination of this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;line-height:13.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.75pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 6.4&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Return or Destruction
of Information</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Upon termination of a Service
and/or the termination of this Agreement, (i) if a Party or any of its
Affiliates holds any confidential information, records, files or databases,
furnished by the other Party or its Affiliates in connection with the provision
or receipt of the terminated Services (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Materials</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), such Party
shall, and shall cause its Affiliates to, promptly return to the other Party or
destroy, or cause to be returned to the other Party or destroyed, all such
other Party&#8217;s or its Affiliates&#8217; Materials, in each case upon the relevant
termination; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that such Party or its Affiliates, as applicable,
may retain one (1) copy of such Materials to the extent required to comply with
applicable Law or </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">bona fide </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">document retention policies; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">further</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that such Party or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its
Affiliates, as applicable, must continue to treat such retained Materials in a
manner consistent with the terms of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and (ii) if a Party or
any of its Affiliates holds any tangible property owned or leased by the other
Party or its Affiliates in connection with the provision or receipt of the
terminated Services, such Party shall, and shall cause its Affiliates to,
promptly return such tangible property to the other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE VII</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">DISPUTE RESOLUTION</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.85pt;">Section 7.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.85pt;">Negotiation</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.85pt;">. Subject to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.85pt;">Section 3.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.85pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.85pt;">Section 5.2(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.85pt;"> and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.05pt;line-height:11.85pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.85pt;">Section&nbsp;</font></u></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.15pt;margin-top:0cm;"><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">6.1(c)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, in the event of a controversy, dispute or claim arising out of, in
connection with, or in relation to the interpretation, performance,
nonperformance, validity or breach of this Agreement or otherwise arising out
of, or in any way related to this Agreement or the transactions contemplated
hereby, including, without limitation, any claim based on contract, tort,
statute or constitution (collectively, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement Disputes</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), the
Parties shall cooperate in good faith to resolve all disputes through the
Transition Service Representatives and the TSA Committee and negotiate in good
faith for a reasonable period of time to settle such Agreement Dispute; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that such reasonable period shall not, unless otherwise agreed
by the Parties in writing, exceed thirty (30) days from the time the Parties
began such negotiations. If the Parties are unable to resolve such dispute
within such thirty (30)-day negotiation period, then either Party may pursue
its rights and remedies at law or in equity.</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-top:5.85pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">18</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE VIII</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">MISCELLANEOUS</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">Section 8.1&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">Notices</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">. All notices and other communications hereunder shall</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;line-height:11.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:11.8pt;">be&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.9pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in writing and
shall be deemed duly given (a) on the date of delivery if delivered personally,
or if by facsimile, upon written confirmation of receipt by facsimile, or
otherwise, (b) on the first (1<sup>st</sup>) Business Day after being sent if
delivered utilizing a next-day service by an internationally recognized
overnight courier that issues a receipt or other confirmation of delivery, (c)
on the earlier of confirmed receipt or the third (3<sup>rd</sup>) Business Day
following the date of mailing if delivered by registered or certified mail,
return receipt requested, postage prepaid or (d) when transmitted to the email
address set out below, as applicable (</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that no &#8220;error&#8221; message
or other notification of non-delivery is generated). All notices hereunder
shall be delivered to the addresses set forth below, or pursuant to such other
instructions as may be designated in writing by the party to receive such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">notice.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">To Purchaser:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:0cm;margin-top:4.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PNC Bank, N.A.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:243.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Tower at
PNC</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:243.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">300 Fifth
Avenue</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:0cm;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Pittsburgh, PA
15222</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mail Stop:
PT-PTWR-21-1</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:94.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:
Mergers &amp; Acquisitions </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">Department&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:94.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">david.williams@pnc.com&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:0cm;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with a copy to:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:165.3pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PNC Bank,
National Association</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:165.3pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Tower at
PNC</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">300 Fifth
Avenue</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Pittsburgh,
PA 15222</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mail Stop:</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PT-PTWR-18-1&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:20.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:
Laura Long, Deputy General Counsel, M&amp;A</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:20.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Facsimile: +1
(412) 762-5988</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">laura.long@pnc.com&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with a copy to
(which shall not constitute notice):</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:178.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Wachtell,
Lipton, Rosen &amp; Katz</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:178.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">51 West 52nd
Street</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:171.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">New York, New
York 10019</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:171.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;
Edward D.</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Herlihy&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:164.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Nicholas G.</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Demmo&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:171.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Facsimile:&#160;&#160;&#160;&#160;&#160;&#160;
+1 (212) 403-2207</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">+1 (212)
403-2381</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:11.1pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">19</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:150.2pt;margin-top:3.9pt;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">EDHerlihy@wlrk.com&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:298.95pt;margin-right:150.2pt;margin-top:3.9pt;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">NGDemmo@wlrk.com</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:4.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">To Seller:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:144.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Banco Bilbao Vizcaya Argentaria,
S.A.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:144.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Calle Azul 4</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:248.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Madrid U3 28050</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:248.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Spain</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160; Victoria del
Castillo</font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Marchese;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:126.3pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Jacobo de
Nicol&#225;s de</font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Benito&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; victoria.castillo@bbva.com;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">jacobo.nicolas@bbva.com</font></p>

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:83.0pt;margin-right:0cm;margin-top:4.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with a copy to
(which shall not constitute notice):</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;margin-right:206.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Sullivan &amp;
Cromwell LLP</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;margin-right:206.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">125 Broad
Street</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;margin-right:178.55pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">New York, New
York 10004</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;margin-right:178.55pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;
H. Rodgin</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">Cohen&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mitchell S.
Eitel</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">William D.
Torchiana</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.05pt;margin-right:104.9pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Facsimile:&#160;&#160;&#160;&#160;&#160;&#160;&#160;
+1 (212) 291 9028</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">+1 (212) 291
9046</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">+33 1 7304 1010</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:128.7pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Cohenhr@sullcrom.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:298.95pt;margin-right:128.7pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Eitelm@sullcrom.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:298.95pt;margin-right:128.7pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Torchianaw@sullcrom.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:15.75pt;margin-top:0cm;text-indent:67.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.2&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Amendment; Waiver</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Any provision of this Agreement may be amended or waived if, and
only if, such amendment or waiver is in writing and signed, in the case of an
amendment, by both Parties, or in the case of a waiver, by the Party against
whom the waiver is to be effective. The conditions to the obligations of either
Party to consummate the transactions contemplated by this Agreement are for the
sole benefit of such Party and may be waived by such Party in whole or in part
to the extent permitted by applicable Law. No failure or delay by any Party in
exercising any right, power or privilege hereunder shall operate as a waiver thereof,
nor shall any single or partial exercise thereof preclude any other or further
exercise thereof or the exercise of any other right, power or privilege. The
rights and remedies herein provided shall be cumulative and not exclusive of
any rights or remedies provided by Law.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:24.1pt;margin-top:4.5pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.3&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Assignment</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. This Agreement shall be binding upon and inure </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;">to </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the benefit of the Parties and their
respective successors, legal representatives and permitted assigns. No Party to
this Agreement may assign any of its rights or delegate any of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:11.05pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">20</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>


</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:16.45pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">obligations under this Agreement, by operation of Law or otherwise,
without the prior written consent of the other Party, except (a) as provided in
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and (b) that Service Provider may
assign any and all of its rights or obligations under this Agreement in
connection with a change of control (by operation of law or otherwise) of
Service Provider without obtaining Purchaser&#8217;s consent and (c) that Purchaser
may assign any and all of its rights under this Agreement to one or more of its
Affiliates or wholly-owned Subsidiaries; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">however</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, that,
in each case, the assigning Party shall not be released from any liability or
obligation under this Agreement and no assignment shall be permitted that would
reasonably be expected to result in any greater cost or obligation being
imposed upon either Party than would otherwise be so imposed pursuant to this
Agreement. Any purported assignment in violation of this Agreement shall be null
and void.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:11.45pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.4&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Third Party
Beneficiaries</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE IV</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
only, which is intended to benefit, and to be enforceable by, the parties
specified therein, this Agreement, together with the schedules hereto, are not
intended to confer in or on behalf of any Person not a party to this Agreement
any remedy, claim, liability, reimbursement, cause of action or other right
including any right to contract or any right to employment or continued
employment.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:41.4pt;margin-top:4.5pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.5&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Expenses</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as otherwise provided herein, all costs and expenses
incurred in connection with the preparation, execution and performance of this
Agreement shall be paid by the Party incurring such costs and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">expenses.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.4pt;margin-top:0cm;text-indent:67.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.6&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Entire Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. This Agreement (including any schedules hereto), the Purchase
Agreement and other Transaction Documents constitute the entire agreement and
supersede all other prior agreements, understandings, representations and
warranties both written and oral, among the Parties, with respect to the
subject matter hereof. No Party shall be bound by, or be liable for, any
alleged representation, promise, inducement or statement of intention not
contained herein or in any certificate delivered pursuant</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereto.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:18.45pt;margin-top:0cm;text-indent:67.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.7&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Fulfillment of
Obligations</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Any obligation of any Party to any
other Party under this Agreement, or to any other Party under the Purchase
Agreement or any other Transaction Document, which obligation is performed,
satisfied or fulfilled completely by an Affiliate of such Party, and with
respect to Service Provider, by a Third-Party Service Provider, shall be deemed
to have been performed, satisfied or fulfilled by such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:78.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.8&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">GOVERNING LAW AND VENUE; WAIVER OF JURY</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.9pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TRIAL</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:15.15pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The execution, interpretation,
and performance of this Agreement shall be governed by the laws of the State of
New York without giving effect to any conflict of laws provision or rule
(whether of the State of New York or any other jurisdiction) that would cause
the application of the law of any other jurisdiction other than the State of
New York. EACH PARTY HERETO, TO THE EXTENT IT MAY LAWFULLY DO SO, HEREBY
SUBMITS TO THE JURISDICTION OF ANY COURT OF THE STATE OF NEW YORK LOCATED IN
THE BOROUGH OF MANHATTAN IN NEW YORK CITY AND THE U.S. DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK, AS WELL AS TO</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.95pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:11.3pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">21</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:12.3pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">JURISDICTION OF ALL COURTS FROM WHICH AN APPEAL MAY BE TAKEN OR
OTHER REVIEW SOUGHT FROM THE AFORESAID COURTS, FOR THE PURPOSE OF ANY SUIT,
ACTION OR OTHER PROCEEDING ARISING OUT OF SUCH PARTY&#8217;S OBLIGATIONS UNDER OR
WITH RESPECT TO THIS AGREEMENT OR ANY OF THE AGREEMENTS, INSTRUMENTS OR
DOCUMENTS CONTEMPLATED HEREBY (OTHER THAN THE CONFIDENTIALITY AGREEMENT), AND
EXPRESSLY WAIVES ANY AND ALL OBJECTIONS IT MAY HAVE AS TO VENUE IN ANY OF SUCH
COURTS. The</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.4pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">parties hereby
consent to and grant any such court jurisdiction over the person of such
parties and, to the extent permitted by Law, over the subject matter of such
dispute and agree that mailing of process or other papers in connection with
any such action or proceeding in the manner provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or
in such other manner as may be permitted by Law shall be valid and sufficient
service thereof. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by Law.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:13.8pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">EACH PARTY HERETO
HEREBY WAIVES TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT
BY ANY OF THEM AGAINST THE OTHER ARISING OUT OF OR IN ANY WAY CONNECTED WITH
THIS AGREEMENT, OR ANY OTHER AGREEMENTS EXECUTED IN CONNECTION HEREWITH, OR THE
ADMINISTRATION THEREOF OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN OR
THEREIN. NO PARTY TO THIS AGREEMENT SHALL SEEK A JURY TRIAL IN ANY LAWSUIT,
PROCEEDING, COUNTERCLAIM, OR ANY OTHER ACTION PROCEDURE BASED UPON, OR ARISING
OUT OF, THIS AGREEMENT OR ANY RELATED INSTRUMENTS OR THE RELATIONSHIP BETWEEN
THE PARTIES. NO PARTY WILL SEEK TO CONSOLIDATE ANY SUCH ACTION, IN WHICH A JURY
TRIAL HAS BEEN WAIVED, WITH ANY OTHER ACTION IN WHICH</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. THE PROVISIONS
OF THIS SECTION HAVE BEEN FULLY DISCUSSED BY THE PARTIES HERETO, AND THESE
PROVISIONS SHALL BE SUBJECT TO NO EXCEPTIONS. NO PARTY HAS IN ANY WAY AGREED
WITH OR REPRESENTED TO ANY OTHER PARTY THAT THE PROVISIONS OF THIS SECTION WILL
NOT BE FULLY ENFORCED IN ALL INSTANCES.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:11.5pt;margin-top:0cm;text-indent:67.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.9&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Counterparts</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. This Agreement may be executed in one or more counterparts, each
of which shall be deemed an original, and all of which shall constitute one and
the same</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:20.25pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.10&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Severability</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The provisions of this Agreement shall be deemed severable and the
invalidity or unenforceability of any provision shall not affect the validity
or enforceability of the other provisions hereof. If any provision of this
Agreement, or the application thereof to any Person or entity or any
circumstance, is found by a court or other Governmental Authority of competent
jurisdiction to be invalid or unenforceable, (a) a suitable and equitable
provision shall be substituted therefor in order to carry out, so far as may be
valid and enforceable, the intent and purpose of such invalid or unenforceable
provision and (b) the remainder of this Agreement and the application of such
provision to other Persons, entities or circumstances shall not be affected by
such invalidity or unenforceability, nor shall</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.25pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">22</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:44.1pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">invalidity or unenforceability affect the validity or
enforceability, of such provision, or the application thereof, in any other jurisdiction.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:13.6pt;margin-top:.05pt;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.11&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Specific Performance</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Subject to the provisions of </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Article VII</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, the parties
hereto agree that if any of the provisions of this Agreement were not to be
performed as required by their specific terms or were to be otherwise breached,
irreparable damage will occur, no adequate remedy at law would exist and
damages would be difficult to determine, and that such parties shall be
entitled, without the necessity of posting a bond or other security, to an
injunction or injunctions to prevent breaches, and to specific performance of
the terms, of this Agreement, in addition to any other remedy at law or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">equity.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:12.9pt;margin-top:0cm;text-indent:72.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 8.12&#160;&#160;&#160;&#160; </font></b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Relationship of
Parties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Nothing in this Agreement shall be deemed
or construed by the Parties or any third party as creating the relationship of
principal and agent, partnership or joint venture between the Parties, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">it
being understood</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and agreed that no provision contained herein, and no act
of the Parties, shall be deemed to create any relationship between the Parties,
other than the relationship of independent contractor, nor be deemed to vest
any rights, interest or claims in any third party. By this Agreement, the
Parties do not intend to create an employer-employee relationship. Neither
Party shall be bound by any representation, act or omission of the other Party.
Neither Party has any right, power or authority to create any obligation,
express or implied, on behalf of the other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:7.8pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">[</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Signature page follows</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">]&nbsp;</font></p>

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

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

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">23</font></p>









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</DIV>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.1pt;margin-top:3.9pt;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IN WITNESS WHEREOF, this Agreement has
been duly executed and delivered on behalf of the Parties as of the date first
herein above written.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:0cm;margin-top:7.85pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE PNC
FINANCIAL SERVICES GROUP, INC.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:254.0pt;margin-right:10.95pt;margin-top:0cm;text-indent:-27.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">By:_______________________________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:281.0pt;margin-right:10.95pt;margin-top:0cm;text-indent:-27.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Name:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:254.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">Title:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:15.4pt;margin-top:11.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">BANCO BILBAO
VIZCAYA ARGENTARIA, S.A.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:254.0pt;margin-right:10.95pt;margin-top:0cm;text-indent:-27.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">By:______________________________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:281.0pt;margin-right:10.95pt;margin-top:0cm;text-indent:-27.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Name:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:254.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.75pt;">Title:</font></p>

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

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

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

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

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.6pt;text-align:center;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">[Signature Page to Transition Services
Agreement]</font></i></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>


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<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ANNEX 1</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.05pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Service Recipients</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:0cm;margin-top:9.65pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">BSI</font></p>








<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:147.75pt;margin-top:4.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">Grupo Financiero BBVA Bancomer, S.A. de C.V.&#8217;s Houston agency PV</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&#8217;s New
York branch</font></p>









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<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;text-align:center;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">A-1</font></font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:1.0pt;margin-right:0cm;margin-top:.65pt;"><font style="mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SCHEDULE A</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;margin-left:5.85pt;width:100%;">
 <tr style="height:13.75pt;">
  <td valign=top width=34% style="border:solid black 1.0pt;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:23.45pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.75pt;">Description of Service</font></b></p>
  </td>
 <td valign=top width=33% style="border:none;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:solid black 1.0pt;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:50.55pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.75pt;">Service Fee</font></b></p>
  </td>
 <td valign=top width=33% style="border:none;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:solid black 1.0pt;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-left:33.85pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:12.75pt;">Termination Date</font></b></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=34% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=34% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=34% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:13.8pt;">
  <td valign=top width=34% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:13.8pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.8pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.8pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>



<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:11.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">A-2</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SCHEDULE B</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.1pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:138.4pt;margin-right:0cm;margin-top:4.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Initial Transition Service Representatives</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.3pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:376.45pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">[&#9679;], Service Provider</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:376.45pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">[&#9679;], Seller</font></p>

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

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

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

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

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

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:4.5pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">B-1</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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

<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:11.3pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SCHEDULE C</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Excluded Services</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.5pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Other than the
transitional services for support of (i) tax compliance, (ii) filing federal
and local state tax returns, and (iii) potential tax audits involving BSI (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Tax
Filings</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), any Services that are Excluded Services under the Transitional
Services Agreement.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:13.8pt;">Services shall:</font></p>

<p style="margin-bottom:.0001pt;margin-left:47.0pt;margin-right:14.35pt;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol lang=EN-US style="font-size:12.0pt;">&#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="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">not include the
provision of advice or analysis relating to legal, tax (provided, for the
avoidance of doubt, that the Services shall include the Tax Filings),
regulatory or compliance matters, or require Purchaser or its Affiliates
(including the Company and its Subsidiaries</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">following&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Closing)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">file&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Suspicious&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Activity&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Reports&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">on&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">behalf&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">NYB
or BSI;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:46.95pt;margin-right:23.85pt;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol lang=EN-US style="font-size:12.0pt;">&#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="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other than in respect
of (i) the Tax Filings and (ii) the Talent &amp; Culture services, the Services
shall consist of access to/use of systems and applications and shall not
include any direct support from the employees of Purchaser or its Affiliates
(including the Company and its Subsidiaries following the Closing), other than
the support of IT personnel incidental to the above</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">access/use.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:33.8pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">For the
avoidance of doubt, no employees of Seller or its Affiliates after the Closing
shall be permitted to participate in any Benefit Plans of Purchaser or its
Affiliates (including the Company and its Subsidiaries).</font></p>

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

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

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

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

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

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

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:10.75pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">C-1</font></p>









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<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ANNEX D</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transitional Trademark License</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>









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<p style="margin:0cm;margin-bottom:.0001pt;"><font style="mso-bidi-font-size:12.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:1.0pt;line-height:5%;">&nbsp;</font></font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin:0cm;margin-bottom:.0001pt;margin-left:0cm;margin-right:10.9pt;margin-top:3.9pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">FINAL FORM</font></p>

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

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:10.8pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TRANSITIONAL
TRADEMARK LICENSE</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.75pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">This</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TRANSITIONAL&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TRADEMARK&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">LICENSE&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(this&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">is&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">entered&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">into&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">as&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of [&#9679;] (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effective Date</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;),
by and among Banco Bilbao Vizcaya Argentaria, S.A., a </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">sociedad an&#243;nima </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">organized
under the laws of the Kingdom of Spain (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) and BBVA USA
Bancshares, Inc., a corporation organized under the laws of the state of Texas
(the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;). Seller and the Company may be referred to herein
individually as a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,&#8221; and collectively as the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Parties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#8221;
Capitalized terms used but not defined herein shall have the meanings ascribed
to such terms in the Purchase Agreement (as defined</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">below).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">RECITALS</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.8pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WHEREAS, Seller and The PNC Financial Services Group,
Inc., a corporation organized under</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">laws&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Pennsylvania&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">are&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">party&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">that&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">certain&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Share&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchase&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement, dated</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">as&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">November&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">15,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">2020&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchase&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">pursuant&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">which&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">acquired the all the issued and
outstanding shares of Capital Stock of the Company;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.65pt;margin-top:.05pt;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WHEREAS, the Company desires to use the Marks and
Internet domain names set forth on </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Exhibit A</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller
Marks</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) in connection with its operation of its and its Subsidiaries
respective businesses, and Seller is willing to grant the Company a license to
use the Seller Marks on the terms and subject to the conditions set forth in
this Agreement.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.75pt;margin-top:.05pt;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">NOW, THEREFORE, in consideration of the foregoing
premises and the mutual agreements contained herein and in the Purchase
Agreement, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:4.5pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE I.</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SELLER LICENSE TO THE COMPANY</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:46.95pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section
1.1&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">License Grant</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.65pt;margin-top:0cm;text-align:justify;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)</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;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subject to the terms
and conditions of this Agreement, Seller, on behalf of itself and its
Affiliates, hereby grants the Company and its Subsidiaries a non-exclusive, limited,
non-transferable, sublicensable (solely to service providers in connection with
the provision of services</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries),&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">royalty-free,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">fully&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">paid-up&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">license&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">use&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">display the Seller Marks in the United
States of America for the six (6) month period immediately following the
Closing Date (except as set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">), solely for the uses
set forth in</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> Exhibit B</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> (&#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Licensed Uses</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), subject to, and in
accordance with the terms of this Agreement. For clarity, the use or display by
the Company, its Subsidiaries or its or their permitted sublicensees of the
Seller Marks outside of the United States of America shall be permitted under
this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.1(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> in the event that such use or display takes place by
means of either (i) the internet, social media, or another means of
distributing information in an electronic format to multiple countries in the
world and which permits access to that information in those countries, or (ii)
other promotions in the United States of America or print media in distribution
in the United States of America, in each case (i) or (ii), that are directed
primarily to customers or potential customers located in the United States of
America. The Company shall not, and shall cause its Subsidiaries and its and
their permitted sublicensees to not, modify or edit the appearance of the
Seller</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks,&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.8pt;margin-top:3.9pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and the Company&#8217;s, its Subsidiaries&#8217;
and its and their permitted sublicensees&#8217; use of the Seller Marks</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">shall&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">conform&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">manner&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">were&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">used&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">connection&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company&#8217;s and its Subsidiaries&#8217;
respective businesses immediately prior to the Effective</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Date.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:11.0pt;margin-right:10.7pt;margin-top:0cm;text-align:justify;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In addition to the
license grant in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.1(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, Seller, on behalf of itself and its
Affiliates, shall permit use of the Seller Marks by the Company and its
Affiliates (i) for reference to the historical relationship between Seller, on
the one hand, and the Company and its Subsidiaries, on the other hand, which
reference is factually accurate, (ii) for retention of any books, records or
other materials for internal archival purposes only (and not public display),
(iii) for</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">compliance&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">applicable&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Laws&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">connection&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">corporate&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">filings&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">documents&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">filed by</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Affiliates&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Governmental&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Authority&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">on&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">after&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effective
Date, and (iv) to continue existing references in any Contract existing as of
the Effective Date (or any Contract that is an automated form agreement
existing on the systems of the Company or its Subsidiaries to the extent
created at any time prior to the conversion (and related de-conversion) of the
Bank&#8217;s systems platform to those of Purchaser) to the names of the Company
and/or its Subsidiaries in such Contract of the Company or any of its
Subsidiaries, in each case (i) through (iv), provided that the Company shall
not, and shall cause its Affiliates to not, modify or edit the appearance of
Seller Marks in connection with such uses. Such uses shall be considered a fair
use of the Seller Marks and shall conform to the manner such Seller Marks were
used in connection with</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company&#8217;s&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries&#8217;&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">respective&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">businesses&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">immediately&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">prior&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Effective Date.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.7pt;margin-top:4.5pt;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.2&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Change Corporate Name</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#160;
Notwithstanding anything to the contrary set&#160;&#160; forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
within thirty (30) Business Days following the Closing Date, the Company shall,
and shall cause each of its Subsidiaries (other than the Bank) to (i) file with
the relevant Governmental Authority the necessary or required documents in
order to amend or terminate any registration or certificate of assumed name,
fictitious name, d/b/a filing, or other similar filings containing any Seller
Marks or otherwise in order to change any corporate name, assumed name,
fictitious name, d/b/a or other legal identity (each, a &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Legal Identity</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;),
and (ii) not use any Legal Identity</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">containing&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mark&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">legal&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">instruments&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">contracts&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">executed&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">amended&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or extended) thereafter. The Company
shall cause the Bank to take the actions set forth in clause (i), and refrain
from taking the actions set forth in clause (ii), in all respects within ten
(10) Business Days following the earlier of (x) End Date (as defined below) or
(y) the conversion (and related de-conversion) of the Bank&#8217;s systems platform to
those of Purchaser. For purposes of this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-2.1pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">1.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">End Date</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221; means October 31, 2021, if the Closing occurs on
or before July 1, 2021, or, if later, the four (4) month anniversary of the
Closing (subject to an extension of up to two (2) months, if necessary, to
ensure vendor ability to participate in the conversion (and related de-
conversion) of the Bank&#8217;s systems platform to those of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.65pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.3&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Removal and Discontinuation of Use</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#160;
Upon expiration or termination of&#160;&#160; the license set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.1(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
the Company, its Affiliates and its and their permitted sublicensees shall
immediately cease the use and display of and cause the removal or obliteration
of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">an&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">officer&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">authorized&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">representative&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">shall&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">certify
to Seller that the foregoing was completed, provided that the Company and its
Affiliates shall not be</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">obligated&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">remove&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">obliterate&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">uses&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">applicable&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">extent&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">that&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">uses are permitted under </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">1.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.6pt;margin-top:3.9pt;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.4 &#160;&#160;&#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Limited
Rights</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. Except as expressly provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, no other right
or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">authorization&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">use&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">is&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">granted&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Affiliates&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Affiliates,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">whether&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">implication&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">otherwise,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">nothing&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereunder&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">permits&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company or its Affiliates: (a) to use the
Seller Marks in any manner, other than in connection with the Licensed Uses in
accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.1(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, or as permitted in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
(b) to use any other Marks of Seller or (c) to register or seek to register, or
to cause any third party to register or to seek to register, any of the Seller
Marks in any jurisdiction. Other than as set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">1.1</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
the Company shall not, and shall cause its Affiliates and its and their
permitted sublicensees not to, use, display, register or adopt any Seller Mark,
or any Mark or domain name confusingly similar thereto. The Company shall not
(and shall ensure that its Subsidiaries and permitted sublicensees</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">do&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">not)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">use&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">combination&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mark&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Purchaser&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its
Affiliates, in a manner that results in the creation of a composite mark under
applicable</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Law.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.7pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.5 &#160;&#160;&#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Quality Control</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The Company
shall ensure that its, its Subsidiaries and its and their permitted
sublicensees use of the Seller Marks shall be only with respect to goods and
services</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">a&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">level&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">quality&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">equal&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">greater&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">than&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">quality&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">goods&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">services&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">respect
to which Seller used the Seller Marks in connection with the Company&#8217;s and its
Subsidiaries&#8217; respective businesses immediately prior to the Closing Date. In
any event, and, without limiting any of the Company&#8217;s obligations under this </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Article
I</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, the Company shall not, and shall cause its Subsidiaries</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">their&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">permitted&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">sublicensees&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">not&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(i)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">use&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">manner
that</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">would&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">damage&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">tarnish&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">a&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">material&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">way&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">reputation&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Affiliates&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">than the
Company and its Subsidiaries) or the goodwill associated with the Seller Marks
or (ii) do, or omit to do, or expressly permit to be done, any act which will,
in Seller&#8217;s reasonable opinion, weaken, damage or be detrimental to, in a
material way, the Seller Marks or the reputation or goodwill associated with
the Seller Marks or Seller, or otherwise bring the Seller Marks or Seller into
material</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">disrepute.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.65pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.6 &#160;&#160;&#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Use and Maintenance of Domain Names</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.
The Company shall maintain the domain names included in the Seller Marks,
including all uniform resource locators (URLS) that incorporate such domain
names (collectively, the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Domain Names</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;), in compliance with all Privacy
Laws and security and privacy policies posted or referenced on the respective
Domain Names. The Company shall make commercially reasonable efforts to prevent
any unauthorized access to the Domain Names and the data contained, processed
or displayed thereon, and shall immediately notify Seller if it becomes aware
of any actual or likely instance of unauthorized access to the Domain Names or
such data. The Company shall ensure that, at all times until the expiration or
termination of the license set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.1(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, there shall
appear, prominently placed on the Domain Names, language to be agreed between
the Parties describing the relationship between the Company, Seller and their
respective Affiliates that is intended to avoid consumer confusion as to the
identity of the Parties and their Affiliates and the products and services</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">thereby,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">shall,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">particular,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">state&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">that&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company&#8217;s&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">use&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">display&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the Seller Marks thereon is
made pursuant to a transitional license granted by Seller. Until the expiration
or termination of the license set forth in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.1(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, Seller shall
not materially alter the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">content&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Domain&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Names&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">than&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">as&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">reasonably&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">necessary&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">address&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">breach&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">this
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.6</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that is not promptly addressed by the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.9pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.7&#160;&#160;&#160; &#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Ownership</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. The Company hereby
acknowledges that Seller owns all right, title and interest in and to the
Seller Marks and all goodwill associated therewith. Any and all</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.65pt;margin-top:3.9pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">goodwill associated with the Seller
Marks generated by the Company, its Subsidiaries and its and their</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">permitted&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">sublicensees&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">shall&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">inure&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">solely&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">benefit&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller.&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">All&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">rights&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks
not expressly granted herein are reserved by Seller and its Affiliates, as
applicable. The</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Affiliates&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">agree&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">not&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">object&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">oppose,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">seek&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">cancellation&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">take&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">action&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with respect to or
proceed in any way against, or to assist or encourage any other Person to do
any of the foregoing with respect to, (i) the registration or renewal by
Seller, Seller&#8217;s Affiliates (other than</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries),&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">licensees,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">their&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">successors,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any of the Seller
Marks or any Marks confusingly similar thereto, in any jurisdiction, or (ii)
the use or display by Seller, Seller&#8217;s Affiliates (other than the Company and
its Subsidiaries) or other licensees, or any of its or their successors, of any
of the Seller Marks or any Marks confusingly similar thereto, in any</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">jurisdiction.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.8pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.8 &#160;&#160;&#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Enforcement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#160; Any claims for
infringement, dilution or other violation of&#160; any Seller Marks may be brought
(or not brought) in Seller&#8217;s sole discretion. The Company shall give Seller all
reasonable assistance in respect of any such proceedings, including, without
limitation, lending their name where necessary to any proceedings brought or
defended by Seller to the extent relating to any use of the Seller Marks
pursuant to this Agreement. Any recovery obtained from such proceedings shall
accrue solely to the benefit of Seller and Seller shall indemnify the Company
in respect of all costs reasonably incurred by the Company in assisting Seller
with any such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">proceedings.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:4.5pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE II.</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">DISCLAIMERS OF REPRESENTATIONS AND
WARRANTIES</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.85pt;margin-top:.05pt;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 2.1&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SELLER DISCLAIMER&#160; OF&#160; WARRANTIES</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#160;
EXCEPT&#160; AS&#160; OTHERWISE</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SET&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">FORTH&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IN&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PURCHASE&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AGREEMENT&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OR&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THIS&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AGREEMENT,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(A) SELLER, ON BEHALF OF ITSELF AND ITS AFFILIATES,
SPECIFICALLY DISCLAIMS ALL REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED,
WITH RESPECT TO THE SELLER MARKS, INCLUDING ANY IMPLIED WARRANTY OF
NONINFRINGEMENT, SUFFICIENCY, QUALITY, USEFULNESS, COMMERCIAL UTILITY,
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE AND ALL IMPLIED WARRANTIES
ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AND&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(B)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">COMPANY&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ACKNOWLEDGES&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AND&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AGREES&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THAT&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE
SELLER MARKS ARE PROVIDED &#8220;AS IS&#8221; WITHOUT WARRANTY OF ANY</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">KIND.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:150%;">ARTICLE III.</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:200%;">ADVERSE EVENTS; INDEMNITY</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.4pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.8pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.1&#160;&#160;&#160; &#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Adverse Events</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#160; The Company
shall notify Seller as soon as practicable if it is aware of any actual or
impending event or circumstance that occurs during the term of the license
granted pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.1(a)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> in the United States of America which
it considers will or</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">is&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">likely&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">adversely&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">affect&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">quality&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">reputation&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">material&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">respect due to the Company&#8217;s, its
Subsidiaries&#8217; or its or their permitted sublicensees&#8217; use of such Seller Marks
(each, an &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Adverse Event</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;). The Parties shall work together in good
faith to remedy any adverse effects of any Adverse Event as quickly as
possible. In the event of an Adverse Event, each Party shall (i) use
commercially reasonable efforts to provide any press release regarding such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Adverse&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Event&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">advance&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">publication,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">consider&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party&#8217;s&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:15.4pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">comments to all such press releases in good faith, and (iii) include
a disclaimer regarding the Parties not being affiliated in all such press
releases.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.6pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.2&#160;&#160;&#160; &#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company Indemnity</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. In addition
to any and all other remedies available to Seller and its Affiliates (other
than the Company and its Subsidiaries), including pursuant to the Purchase
Agreement, the Company shall indemnify and hold harmless Seller and its
Affiliates (other than the Company and its Subsidiaries) and their respective
officers, directors, partners, members, employees, agents, representatives,
successors and permitted assigns (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnified Parties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;)
from and against any and all third-party claims against any of the Seller
Indemnified Parties, or damages, costs, losses or expenses actually suffered by
any of the Seller Indemnified</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Parties,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">each&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">case,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">that&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">arise&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">out&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company&#8217;s&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Subsidiaries&#8217;&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or any</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">their&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">permitted&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">sublicensees&#8217;&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">use&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">than&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">claims,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">damages, costs, losses or expenses
relating to an allegation that the use or display of the Seller Marks pursuant
to the Licensed Uses infringes, misappropriates, conflicts with, dilutes or
otherwise violates the Intellectual Property rights of any Person or (b) an
Adverse Event. Notwithstanding anything in this Agreement to the contrary, the
Company hereby acknowledges and agrees that in the event of any breach or
threatened breach of this Agreement by the Company, any of its Subsidiaries or
any of its or their permitted sublicensees, Seller, in addition to any other
remedies available to it, (i) shall be entitled to seek a preliminary injunction,
temporary restraining order or other equivalent relief restraining the Company,
any of its Affiliates and any of its or their permitted sublicensees from any
such breach or threatened breach and (ii) shall not be required to provide any
bond or other security in connection with any such injunction, order or other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">relief.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.65pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 3.3 &#160;&#160;&#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller Indemnity</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. In addition
to any and all other remedies available to the Company (including pursuant to
the Purchase Agreement), Seller shall indemnify and hold harmless the Company,
its Subsidiaries, and its and their respective officers, directors, partners,
members, employees, agents, representatives, successors and permitted
sublicensees (the &#8220;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Buyer&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Indemnified Parties</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8221;) from and against
any and all third-party claims against any of the Buyer Indemnified Parties, or
damages, costs, losses or expenses actually suffered by any of the Buyer
Indemnified Parties, in each case, that arise out of any claim that the use or
display of the Seller Marks pursuant to the Licensed Uses infringes,
misappropriates, conflicts with, dilutes or otherwise violates the Intellectual
Property rights of any third party.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE IV.</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:.15pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TERM AND TERMINATION</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.75pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.1 &#160;&#160;&#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Term</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. This Agreement shall be
effective for the six (6) month period immediately following the Effective
Date, unless earlier terminated pursuant to </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, provided that
Seller will consider in good faith any extension request made by Purchaser
during the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">thirty&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(30)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">days&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">prior&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">termination&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">six&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(6)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">month&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">period&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">will&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">not&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">unreasonably
withhold consent to such request (provided that no such request shall be for
more than an incremental three (3) month</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">period).&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.65pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.2 &#160;&#160;&#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Termination</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#160; Seller may
terminate the license and other rights granted to&#160; the Company (and its
Affiliates) under this Agreement if (i) the Company materially breaches</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the terms</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">this&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(ii)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provides&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.3pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">notice&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">breach&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Company,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.35pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">including&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:6.1pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">reasonable details thereof, and (iii) the Company does not cure such
breach within thirty (30) days from receipt of Seller&#8217;s notice thereof.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.9pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 4.3 &#160;&#160;&#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Survival</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Sections 1.1(b)</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,
</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">1.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">1.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">1.4</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">1.7</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">4.3</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Articles
II</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">, </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">III&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> and </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">V&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> shall survive the expiration or termination of
this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:192.3pt;margin-right:192.3pt;margin-top:.05pt;text-align:center;text-indent:-.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARTICLE V.</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:192.3pt;margin-right:192.3pt;margin-top:.05pt;text-align:center;text-indent:-.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">MISCELLANEOUS</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.65pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.1&#160;&#160;&#160; &#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Expenses</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#160; Except as otherwise
specified in this Agreement, each Party&#160; hereto</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">will&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">bear&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">all&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">expenses&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">incurred&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">it&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">connection&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">this&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">transactions contemplated</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereby.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.7pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.2&#160;&#160;&#160; &#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notices</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. All notices and other
communications&#160; hereunder&#160; shall&#160; be&#160; in writing</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">shall&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">be&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">deemed&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">duly&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">given&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(a)&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">on&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">date
of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">delivery&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">if&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">delivered&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">personally,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">if&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by facsimile, upon written confirmation of
receipt by facsimile, or otherwise, (b) on the first (1<sup>st</sup>) Business
Day after being sent if delivered utilizing a next-day service by an
internationally recognized overnight courier that issues a receipt or other
confirmation of delivery, (c) on the earlier of confirmed receipt or the third
(3<sup>rd</sup>) Business Day following the date of mailing if delivered by
registered or certified mail, return receipt requested, postage prepaid or (d)
when transmitted</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">email&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">address&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">set&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">out&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">below,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">as&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">applicable&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">that&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">no&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;error&#8221;&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">message&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or other notification of non-delivery is generated). All notices
hereunder shall be delivered to the addresses set forth below, or pursuant to
such other instructions as may be designated in writing by the party to receive
such</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">notice.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:119.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">If to Seller,
to:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:144.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Banco Bilbao
Vizcaya Argentaria, S.A.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:144.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Calle Azul 4</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:248.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Madrid U3 28050</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:248.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Spain</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;line-height:13.75pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;
Victoria del Castillo</font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;letter-spacing:-.2pt;line-height:13.75pt;"> </font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;line-height:13.75pt;">Marchese;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:126.3pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Jacobo de
Nicol&#225;s de</font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">Benito&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;line-height:13.75pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
victoria.castillo@bbva.com;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:119.0pt;margin-right:132.05pt;margin-top:0cm;text-indent:108.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:186%;">jacobo.nicolas@bbva.com</font></p>

<p style="margin:0cm;margin-bottom:6.0pt;margin-left:119.05pt;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with a copy to (which shall not
constitute notice):</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;margin-right:206.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Sullivan &amp;
Cromwell LLP</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;margin-right:206.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">125 Broad
Street</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;margin-right:178.55pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">New York, New
York 10004</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;margin-right:178.55pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;
H. Rodgin</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">Cohen&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mitchell S.
Eitel</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:156.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">William D.
Torchiana</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.05pt;margin-right:3.0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Facsimile:&#160;&#160;&#160;&#160;&#160;&#160;&#160;
+1 (212) 291 9028</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">+1 (212) 291
9046</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">+33 1 7304
1010</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:154.95pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Cohenhr@sullcrom.com</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:127.95pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Eitelm@sullcrom.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:127.95pt;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Torchianaw@sullcrom.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:119.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">If to the
Company, to:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:191.65pt;margin-top:4.5pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">BBVA USA Bancshares, Inc.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.05pt;margin-right:191.65pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">c/o PNC Bank, N.A.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:243.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Tower at
PNC</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:243.0pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">300 Fifth
Avenue</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Pittsburgh,
PA 15222</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mail Stop:
PT-PTWR-21-1</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:94.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:
Mergers &amp; Acquisitions </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">Department&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:94.7pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">david.williams@pnc.com&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with a copy
to:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:165.3pt;margin-top:6.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PNC Bank,
National Association</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.05pt;margin-right:165.3pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Tower at
PNC</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:0cm;margin-top:.05pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">300 Fifth
Avenue</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Pittsburgh,
PA 15222</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Mail Stop:</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PT-PTWR-18-1&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:20.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:
Laura Long, Deputy General Counsel, M&amp;A</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:20.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Facsimile: +1
(412) 762-5988</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.95pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">laura.long@pnc.com&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.55pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:96.05pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with a copy to
(which shall not constitute notice):</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:96.05pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Wachtell,
Lipton, Rosen &amp; Katz</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">51 West 52nd
Street</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:171.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">New York, New
York 10019</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:171.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;
Edward D.</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Herlihy&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:164.1pt;margin-top:0cm;text-indent:72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Nicholas G.</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Demmo&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:155.0pt;margin-right:171.35pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Facsimile:&#160;&#160;&#160;&#160;&#160;&#160;
+1 (212) 403-2207</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">+1 (212)
403-2381</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:150.2pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">EDHerlihy@wlrk.com&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:298.95pt;margin-right:150.2pt;margin-top:0cm;text-indent:-72.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">NGDemmo@wlrk.com</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.75pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.3 &#160;&#160;&#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Severability</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. If any term or
other provision of this Agreement is invalid, illegal, or incapable of being
enforced under any Law or public policy, all other terms </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">and </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provisions of this Agreement shall
nevertheless remain in full force and effect; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided&nbsp;</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> that the economic
and legal substance of the transactions contemplated under this Agreement is
not affected</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">manner&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">materially&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">adverse&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party.&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Upon&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">determination&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">that&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">term&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or
other</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provision&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">is&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">invalid,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">illegal,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">incapable&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">being&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">enforced,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Parties&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">shall&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">negotiate&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">good
faith</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">modify&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">this&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">so&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">as&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">effect&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">original&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">intent&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Parties&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">as&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">closely&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">as&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">possible in</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">a&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">mutually&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">acceptable&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">manner&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">order&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">that&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">transactions&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">contemplated&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">under&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">this&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement
are consummated as originally contemplated by this Agreement to the greatest
extent</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">possible.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.7pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.4 &#160;&#160;&#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Entire Agreement</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. This
Agreement (including the exhibits attached hereto) and the Purchase Agreement
represent the entire understanding of the Parties hereto with</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:2.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">respect&nbsp;</font></p>









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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:0cm;margin-top:3.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to the subject matter hereof and supersede any and all other oral or
written agreements heretofore made.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.75pt;margin-top:4.5pt;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.5&#160;&#160; &#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Waiver; Amendment</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#160;&#160; Any
provision of this Agreement may be amended&#160; or waived if, and only if, such
amendment or waiver is in writing and signed, in the case of an amendment,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Parties&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereto,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">case&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">a&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">waiver,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Party&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Parties&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">against&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">whom the waiver is to
be effective. No failure or delay by any Party in exercising any right, power
or privilege</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereunder&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">shall&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">operate&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">as&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">a&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">waiver&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">thereof&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">nor&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">shall&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">single&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">partial&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">exercise&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">thereof preclude</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">further&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">exercise&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">thereof&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">exercise&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">right,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">power&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">privilege.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.75pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.6&#160;&#160; &#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Parties in Interest</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#160; This
Agreement will be binding upon, inure to the&#160; benefit of and be enforceable by
the Parties hereto and their respective successors and permitted assigns.
Nothing in this Agreement, express or implied, is intended to confer any rights
or remedies under or by reason of this Agreement upon any Person other than the
Parties hereto and their successors or permitted</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">assigns.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.8pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.7&#160;&#160;&#160; &#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Assignability</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. No party to this
Agreement may assign any of its rights or obligations under this Agreement
(whether by operation of law or otherwise) without the prior written consent of
the other parties hereto. Any attempted or purported assignment in
contravention of this provision shall be null and void.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.9pt;margin-top:.05pt;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.8 &#160;&#160;&#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Waiver of Jury Trial</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">.&#160; EACH
PARTY HERETO HEREBY WAIVES&#160; TRIAL BY JURY IN ANY ACTION, PROCEEDING OR
COUNTERCLAIM BROUGHT BY ANY</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OF&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THEM&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AGAINST&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OTHER&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ARISING&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OUT&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OF&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OR&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IN&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ANY&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WAY&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">CONNECTED WITH THIS AGREEMENT, OR ANY
OTHER AGREEMENTS EXECUTED IN CONNECTION HEREWITH, OR THE ADMINISTRATION THEREOF
OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN OR THEREIN. NO PARTY TO THIS
AGREEMENT SHALL SEEK A JURY TRIAL IN ANY LAWSUIT, PROCEEDING, COUNTERCLAIM, OR
ANY OTHER ACTION PROCEDURE BASED UPON, OR ARISING OUT OF, THIS AGREEMENT OR ANY
RELATED INSTRUMENTS OR THE RELATIONSHIP BETWEEN THE PARTIES. NO PARTY WILL SEEK
TO CONSOLIDATE ANY</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SUCH&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ACTION,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IN&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WHICH&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">A&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">JURY&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TRIAL&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">HAS&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">BEEN&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WAIVED,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WITH&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ANY&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OTHER ACTION IN WHICH A JURY TRIAL CANNOT
BE OR HAS NOT BEEN WAIVED. THE PROVISIONS OF THIS SECTION HAVE BEEN FULLY
DISCUSSED BY THE PARTIES HERETO, AND THESE PROVISIONS SHALL BE SUBJECT TO NO
EXCEPTIONS. NO PARTY HAS IN ANY WAY AGREED WITH OR REPRESENTED TO ANY OTHER
PARTY THAT THE PROVISIONS OF THIS SECTION WILL NOT BE FULLY ENFORCED IN ALL
INSTANCES.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.75pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.9 &#160;&#160;&#160;&#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">Governing
</font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Law; </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">Consent </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to </font></u><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">Jurisdiction</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">. </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The execution, interpretation, and performance of this
Agreement shall be governed by the laws of the State of New York without giving
effect to any conflict of laws provision or rule (whether of the State of New
York or any other jurisdiction) that would cause the application of the law of
any other jurisdiction other than the</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">State&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">New&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">York.&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:1.9pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">EACH&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">PARTY&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">HERETO,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TO&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">EXTENT&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IT&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">MAY&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">LAWFULLY&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">DO SO,
HEREBY SUBMITS TO THE EXCLUSIVE JURISDICTION OF ANY COURT OF THE STATE OF NEW
YORK LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AND&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">U.S.&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">DISTRICT&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">COURT&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">FOR&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SOUTHERN&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">DISTRICT&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OF&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">NEW&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">YORK,&nbsp;</font></p>








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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.85pt;margin-top:3.9pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AS</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WELL&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AS&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TO&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">JURISDICTION&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OF&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ALL&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">COURTS&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">FROM&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">WHICH&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AN&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">APPEAL&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">MAY BE TAKEN OR OTHER REVIEW SOUGHT FROM
THE AFORESAID COURTS, FOR THE PURPOSE OF ANY SUIT, ACTION OR OTHER PROCEEDING
ARISING OUT OF SUCH PARTY&#8217;S OBLIGATIONS UNDER OR WITH RESPECT TO THIS AGREEMENT
OR ANY OF THE AGREEMENTS, INSTRUMENTS OR DOCUMENTS CONTEMPLATED HEREBY (OTHER
THAN THE CONFIDENTIALITY AGREEMENT), AND EXPRESSLY WAIVES ANY</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AND&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ALL&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OBJECTIONS&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IT&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">MAY&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">HAVE&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">AS&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TO&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">VENUE&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IN&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">ANY&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">OF&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SUCH&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">COURTS.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:10.95pt;margin-right:10.65pt;margin-top:0cm;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Parties&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">hereby&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">consent&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">grant&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">court&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">jurisdiction&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">over&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">person&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Parties and,</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">extent&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">permitted&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Law,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">over&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">subject&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">matter&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">dispute&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">agree&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">that&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">mailing
of</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">process&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">papers&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">connection&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">with&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">any&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">action&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">proceeding&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">in&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">manner&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">provided in </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> or in such other manner as may be
permitted by Law shall be valid and sufficient service thereof. Nothing in this
Agreement will affect the right of any Party to this Agreement to serve process
in any other manner permitted by</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Law.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.85pt;margin-top:0cm;text-align:justify;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 5.10&#160;&#160;&#160; &#160;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Counterparts</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">. This Agreement
may be executed in two or&#160; more&#160; counterparts</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(including&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">by&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">facsimile,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">email&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">other&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">electronic&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">means&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">such&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">as&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;.pdf&#8221;&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">or&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#8220;.tiff&#8221;&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">files), each of which shall be deemed to
constitute an original, but all of which together shall be</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">deemed to constitute one and the same</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">instrument.&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.2pt;margin-top:0cm;text-align:center;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">(Signature Page Follows)</font></i></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_165"></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 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:0cm;margin-top:3.9pt;text-indent:36.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">IN WITNESS WHEREOF, the Parties have
caused this Agreement to be signed by their authorized representatives as of
the Effective Date.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:0cm;margin-top:7.9pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">BANCO BILBAO VIZCAYA ARGENTARIA,
S.A.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=ES style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:15.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">By:______________________________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:252.0pt;margin-right:15.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Name:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:252.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Title:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:25.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:13.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:0cm;margin-top:7.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">BBVA USA
BANCSHARES, INC.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:227.0pt;margin-right:15.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">By:______________________________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:252.0pt;margin-right:15.45pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Name:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:252.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Title:</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:25.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

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

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

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

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

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

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

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.1pt;margin-top:4.6pt;text-align:center;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Signature Page to Trademark License
Agreement</font></i></p>









<DIV bclFooter>


<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_166"></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 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:4.0pt;text-align:center;"><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">EXHIBIT</font></u></b><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></u></b><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">A</font></u></b><sup><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">1</font></b></sup></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Seller</font></b><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font></b><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Marks&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=left style="margin-bottom:.0001pt;margin-left:28.65pt;margin-right:0cm;margin-top:0cm;text-align:left;text-indent:-17.75pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">A.</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Trademarks and Trademark</font></b><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></b><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Applications&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;margin-left:11.5pt;width:100%;">
 <tr style="height:23.5pt;">
  <td valign=top width=39% style="border:solid black 1.0pt;height:23.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:81.55pt;margin-right:81.2pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Title</font></b></p>
  </td>
 <td valign=top width=20% style="border:none;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:solid black 1.0pt;height:23.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:12.0pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Class</font></b></p>
  </td>
 <td valign=top width=21% style="border:none;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:solid black 1.0pt;height:23.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:12.1pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Application No.</font></b></p>
  </td>
 <td valign=top width=20% style="border:none;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:solid black 1.0pt;height:23.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.9pt;margin-right:10.8pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Registration No.</font></b></p>
  </td>
 </tr>
<tr style="height:41.05pt;">
  <td valign=top width=39% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:41.05pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><img height=54 id=image2.png src="d20f2020exhibits101x165x0.jpg" width=113>&nbsp;</p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:41.05pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:.4pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">9</font></p>
  </td>
 <td valign=top width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:41.05pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">75856257</font></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:41.05pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.9pt;margin-right:10.6pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">2705771</font></p>
  </td>
 </tr>
<tr style="height:49.9pt;">
  <td valign=top width=39% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:49.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>
  <p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.5pt;">&nbsp;</font></b></p>
  <p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="position:relative;top:1.5pt;"><img height=12 id=image3.png src="d20f2020exhibits101x165x1.jpg" width=51></font></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:49.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">16</font></p>
  </td>
 <td valign=top width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:49.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">75856358</font></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:49.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.9pt;margin-right:10.6pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">2562867</font></p>
  </td>
 </tr>
<tr style="height:42.0pt;">
  <td valign=top width=39% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:42.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><img height=39 id=image4.png src="d20f2020exhibits101x165x2.jpg" width=117>&nbsp;</p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:42.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">36</font></p>
  </td>
 <td valign=top width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:42.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">75856407</font></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:42.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.9pt;margin-right:10.6pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">2562869</font></p>
  </td>
 </tr>
<tr style="height:33.4pt;">
  <td valign=top width=39% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:33.4pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><img height=44 src="d20f2020exhibits101x165x3.gif" width=109></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:33.4pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.95pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">35, 38, 41</font></p>
  </td>
 <td valign=top width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:33.4pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:12.0pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">85616780</font></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:33.4pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.9pt;margin-right:10.6pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">4304261</font></p>
  </td>
 </tr>
<tr style="height:35.5pt;">
  <td valign=top width=39% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:35.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><img height=44 id=image1.png src="d20f2020exhibits101x165x4.gif" width=109></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:35.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">36</font></p>
  </td>
 <td valign=top width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:35.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">85795391</font></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:35.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.9pt;margin-right:10.6pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">4438839</font></p>
  </td>
 </tr>
<tr style="height:76.45pt;">
  <td valign=top width=39% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:76.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>
  <p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:5.5pt;">&nbsp;</font></b></p>
  <p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><img height=20 id=image5.png src="d20f2020exhibits101x165x5.jpg" width=203>&nbsp;</p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:76.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">9, 36, 41</font></p>
  </td>
 <td valign=top width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:76.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.95pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">87138101</font></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:76.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.9pt;margin-right:10.6pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">--</font></p>
  </td>
 </tr>
<tr style="height:68.95pt;">
  <td valign=top width=39% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:68.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>
  <p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>
  <p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><img height=16 id=image6.png src="d20f2020exhibits101x165x6.jpg" width=205>&nbsp;</p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:68.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">9, 36, 41</font></p>
  </td>
 <td valign=top width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:68.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.95pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">87232733</font></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:68.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.9pt;margin-right:10.6pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">--</font></p>
  </td>
 </tr>
<tr style="height:75.6pt;">
  <td valign=top width=39% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:75.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-top:.05pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>
  <p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><img height=88 id=image7.jpeg src="d20f2020exhibits101x165x7.jpg" width=86>&nbsp;</p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:75.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:.4pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">9</font></p>
  </td>
 <td valign=top width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:75.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">88359039</font></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:75.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.9pt;margin-right:10.55pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">--</font></p>
  </td>
 </tr>
<tr style="height:58.05pt;">
  <td valign=top width=39% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:58.05pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;margin-top:.1pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.5pt;">&nbsp;</font></b></p>
  <p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><img height=55 src="d20f2020exhibits101x165x8.jpg" width=145>&nbsp;</p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:58.05pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">9, 36, 41</font></p>
  </td>
 <td valign=top width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:58.05pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.95pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">88399659</font></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:58.05pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:10.9pt;margin-right:10.55pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">--</font></p>
  </td>
 </tr>
</table></div>



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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:10.9pt;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">___________________</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-left:11.0pt;margin-right:129.8pt;margin-top:9.65pt;"><sup><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1</font></sup><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
</font><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Note to Draft</font></u></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">: Contents of Exhibit A subject to further review
and revisions by Star.</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:1.55pt;text-align:center;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exhibit A to Transitional Trademark License</font></i></p>









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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_167"></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 212.6pt right 425.2pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;margin-left:11.5pt;width:100%;">
 <tr style="height:68.95pt;">
  <td valign=top width=39% style="border:solid black 1.0pt;height:68.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>
  <p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:13.5pt;">&nbsp;</font></i></p>
  <p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><img height=20 id=image9.png src="d20f2020exhibits101x166x0.jpg" width=163>&nbsp;</p>
  </td>
 <td valign=top width=20% style="border:none;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:solid black 1.0pt;height:68.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.9pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">9, 36</font></p>
  </td>
 <td valign=top width=21% style="border:none;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:solid black 1.0pt;height:68.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;margin-right:26.45pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">88462690</font></p>
  </td>
 <td valign=top width=20% style="border:none;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:solid black 1.0pt;height:68.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;margin-right:29.1pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">6154471</font></p>
  </td>
 </tr>
<tr style="height:53.55pt;">
  <td valign=top width=39% style="border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:53.55pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.05pt;margin-left:0cm;margin-right:0cm;margin-top:.15pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></i></p>
  <p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><img height=55 id=image8.jpeg src="d20f2020exhibits101x166x1.jpg" width=145>&nbsp;</p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:53.55pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:12.3pt;margin-right:11.95pt;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">35, 36, 38, 42</font></p>
  </td>
 <td valign=top width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:53.55pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;margin-right:26.5pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">88468515</font></p>
  </td>
 <td valign=top width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:53.55pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;margin-right:29.05pt;text-align:right;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:11.4pt;">6172491</font></p>
  </td>
 </tr>
</table></div>



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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.1pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;">&nbsp;</font></i></p>

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<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:3.0pt;text-align:center;"><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">EXHIBIT
B</font></u></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.25pt;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Licensed Uses</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.35pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:29.0pt;margin-right:27.2pt;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol lang=EN-US style="font-size:12.0pt;">&#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="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Use of any Legal
Identity as used by the Company or its Subsidiaries immediately prior to the
Closing Date (for use in accordance with </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Section 1.2</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> of this</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Agreement);&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:29.0pt;margin-right:10.9pt;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol lang=EN-US style="font-size:12.0pt;">&#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="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Use on business cards,
invoices, notepads, coffee mugs and other similar materials as used by the
Company or its Subsidiaries during the twelve (12) month period immediately
prior to the Closing</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Date;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.5pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:29.0pt;margin-right:34.6pt;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol lang=EN-US style="font-size:12.0pt;">&#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="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Use on signage as used
by the Company or its Subsidiaries during the twelve (12) month period
immediately prior to the Closing Date;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">and&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.45pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:29.0pt;margin-right:21.6pt;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol lang=EN-US style="font-size:12.0pt;">&#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="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Use in connection with
sales advertising, marketing, operations and promotional activities conducted
by the Company and its Subsidiaries consistent with the practices of their
respective businesses during the twelve (12) month period immediately prior to
the Closing Date, including, without limitation, in any Internet domain names,
mobile applications or social media profiles, accounts and</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">handles.&nbsp;</font></p>

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

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

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

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

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

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

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

<p style="margin:0cm;margin-bottom:.0001pt;margin-top:.15pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:7.3pt;margin-top:0cm;text-align:center;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exhibit B to Transitional Trademark License</font></i></p>




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<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>4
<FILENAME>d20f2020exhibits121.htm
<DESCRIPTION>EXHIBIT 12.1
<TEXT>
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<title>CERTIFICATIONS</title>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 216.0pt right 432.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:right;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exhibit
12.1</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 26, 2021</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>


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<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>5
<FILENAME>d20f2020exhibits122.htm
<DESCRIPTION>EXHIBIT 12.2
<TEXT>
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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 216.0pt right 432.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


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<p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:right;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exhibit
12.2</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 26, 2021</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>




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<DOCUMENT>
<TYPE>EX-12.3
<SEQUENCE>6
<FILENAME>d20f2020exhibits123.htm
<DESCRIPTION>EXHIBIT 12.3
<TEXT>
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<title>CERTIFICATIONS</title>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 216.0pt right 432.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:right;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exhibit
12.3</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 26, 2021</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>




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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>7
<FILENAME>d20f2020exhibits131.htm
<DESCRIPTION>EXHIBIT 13.1
<TEXT>
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<title>CERTIFICATIONS</title>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 216.0pt right 432.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:right;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exhibit
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, 2020 (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;"><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-left:0cm;margin-right:0cm;text-align:justify;"><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 26, 2021</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-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>8
<FILENAME>d20f2020exhibits151.htm
<DESCRIPTION>EXHIBIT 15.1
<TEXT>
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<meta content="text/html; charset=utf-8" />


<title>CONSENT</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&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:0cm;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">We consent to the incorporation by
reference in the registration statements No. 333-232333 on Form F-3 and Nos. 333-240248,
333-228053, 333-217073, 333-208728, 333-199835, 333-191625, 333-185538,
333-178186, 333-167389, 333-163816, and 333-149157 on Form S-8 of Banco Bilbao
Vizcaya Argentaria, S.A. of our reports dated February 26, 2021, with respect
to the consolidated balance sheets of Banco Bilbao Vizcaya Argentaria, S.A. as
of December 31, 2020, 2019 and 2018, 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, 2020, which reports appear
in the December 31, 2020 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:0cm;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Our report on the
consolidated financial statements contains an emphasis of matter paragraph that
refers to Notes 3 and 21 of the consolidated financial statements for
information on the sale of BBVA USA Bancshares, Inc. and other companies, and
the resulting impacts to the consolidated financial statements.</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 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 26, 2021</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;">&nbsp;</font></p>




<DIV bclFooter>


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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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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>21
<FILENAME>d20f2020x244x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2020x244x0.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:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
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J_P#/O%_WP*D1%C7:BA1Z 8HHH =2$ ]1FBB@!:*** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>22
<FILENAME>d20f2020x245x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2020x245x0.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:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
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MD$=/M$O^%8>J:Y%X=^+=[J<T+S)$Y!1" 3F,#O\ 6NA_X7-IO;2;K/\ OK7I
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MX5SM]INK^!?$EEK.N1Q:LK/D2M(SY(]SR& Y&>*Z;_A<VF_] FZ_[[6L#Q!K
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J_P#/O%_WP*D1%C7:BA1Z 8HHH =2$ ]1FBB@!:*** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>23
<FILENAME>d20f2020x246x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2020x246x0.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>24
<FILENAME>d20f2020x247x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2020x247x0.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>25
<FILENAME>d20f2020x248x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2020x248x0.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>26
<FILENAME>d20f2020x249x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2020x249x0.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"$T\,_]!RS_P"_HK0T_5]-U56;3[Z"Z"_>\J0,1]1VKFO^%5^%?^?:X_\
M AJXG7])C\"^.-,;1)Y?WVUO*9LD MM*GU!]Z4:5*>D&[CE4J0UDE8]6C\0:
M/+J1TV/4;=KP,5,&\;\CJ,5HUY9\4-&FTK5K3Q5IW[M_,42LH^[(OW6_$#!^
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J_P#/O%_WP*D1%C7:BA1Z 8HHH =2$ ]1FBB@!:*** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>27
<FILENAME>d20f2020x250x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2020x250x0.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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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-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: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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td 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style='width:228pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:228pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Payment deferral&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Financing with &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;public guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:left;vertical-align:middle;border-color:Black;min-width:57pt;' &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:57pt;text-align:left;vertical-align:middle;border-color:Black;min-width:57pt;' &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:45pt;' &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:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Existing &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Completed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Number of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Number of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Payment deferral and guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(%) credit investment&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;font-weight:bold;color:#000000;' &gt;Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27.025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33.828&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.843.977&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;271.870&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;52.446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,1%&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='9' rowspan='1' style='width:517,5pt;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;Amount of payment deferral and financing with public guarantees as of December 31, 2020 (Millions of Euros) &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:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:228pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:228pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Payment deferral&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Financing with &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;public guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:left;vertical-align:middle;border-color:Black;min-width:57pt;' &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:57pt;text-align:left;vertical-align:middle;border-color:Black;min-width:57pt;' &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:45pt;' &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:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Existing &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Completed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Number of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Number of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Payment deferral and guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(%) credit investment&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;font-weight:bold;color:#000000;' &gt;Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27.025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33.828&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.843.977&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;271.870&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;52.446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,1%&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='9' rowspan='1' style='width:517,5pt;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;Amount of payment deferral and financing with public guarantees as of December 31, 2020 (Millions of Euros) &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:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:228pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:228pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Payment deferral&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Financing with &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;public guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:left;vertical-align:middle;border-color:Black;min-width:57pt;' &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:57pt;text-align:left;vertical-align:middle;border-color:Black;min-width:57pt;' &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:45pt;' &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:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Existing &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Completed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Number of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Number of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Payment deferral and guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(%) credit investment&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;font-weight:bold;color:#000000;' &gt;Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27.025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33.828&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.843.977&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;271.870&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;52.446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:AmountsofmoratoriumsandfinancingwithpublicguaranteeByConcept>
  <bbva:Amountsofmoratoriumsandfinancingwithpublicguarantee id="ID_14" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:459,75pt;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;Amount of payment deferral and financing with public guarantees as of December 31, 2020 (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;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 colspan='3' rowspan='1' style='width:184,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:184,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Payment deferral&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Financing with&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; public guarantees&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;font-weight:bold;color:#003366;' &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;Existing &lt;/font&gt;&lt;/td&gt;&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;Completed&lt;/font&gt;&lt;/td&gt;&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;Total&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;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;Group&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;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;6.803&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;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;27.025&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;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;33.828&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;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;18.619&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;Customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.657&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.676&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21.333&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.237&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;font-style:italic;color:#666666;' &gt;Of which: Mortgages&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#666666;' &gt;3.664&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;font-style:italic;color:#666666;' &gt;8.723&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#666666;' &gt;12.387&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;font-style:italic;color:#666666;' &gt;1&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;SMEs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.031&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.056&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.087&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11.373&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;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.055&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.095&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.930&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;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Amountsofmoratoriumsandfinancingwithpublicguarantee>
  <bbva:Moratoriumamountsperstage id="ID_15" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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: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;Amount of payment deferral by stages as of December 31, 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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-weight:bold;color:#003366;' &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-weight:bold;color:#072146;' &gt;Stage 1&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-weight:bold;color:#072146;' &gt;Stage 2&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-weight:bold;color:#072146;' &gt;Stage 3&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-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:234,75pt;border-top-style:solid;border-top-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;Group&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;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;21.670&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;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;9.761&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;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;2.397&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;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;33.828&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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.608&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.805&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;21.333&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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Mortgages&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#666666;' &gt;8.310&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#666666;' &gt;3.163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#666666;' &gt;914&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;font-style:italic;color:#666666;' &gt;12.387&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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;SMEs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.461&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.087&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:middle;border-color:Black;min-width:234,75pt;' &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:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.495&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.150&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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Moratoriumamountsperstage>
  <bbva:Totalassetsoperatingsegment id="ID_16" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:478,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:478,5pt;' &gt;&lt;font style='font-family:Arial;font-size: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:22,5pt;' &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;font-weight:bold;color:#003366;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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: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;405.878&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;364.427&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;353.923&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:#000000;' &gt;The United States&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;93.953&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;88.529&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;82.057&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:#000000;' &gt;Mexico&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;110.224&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;109.079&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;97.432&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:#000000;' &gt;Turkey &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;59.585&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;64.416&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;66.250&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:#000000;' &gt;South America&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;55.435&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;54.996&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;54.373&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:#000000;' &gt;Rest of Eurasia&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;22.881&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;23.257&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;18.845&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:303pt;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:58,5pt;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;747.957&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;704.703&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;672.880&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:#000000;' &gt;Corporate Center and adjustments&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;(11.781)&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;(6.967)&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;2.796&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:303pt;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:58,5pt;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;736.176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;697.737&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;675.675&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Totalassetsoperatingsegment>
  <bbva:Incomebyoperatingsegment id="ID_17" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:22,5pt;' &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;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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 Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;Rest of Eurasia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;Corporate Center&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;Adjustments (***)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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: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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Net interest income&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;14.592&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;3.553&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;2.284&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;5.415&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;2.783&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;2.701&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;214&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;(149)&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;(2.209)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20.166&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.225&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;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;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2.808)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Operating income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11.079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.515&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.281&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.677&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.544&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.853&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;(876)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.140)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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;2.472&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;896&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;184&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.160)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Profit (loss) after tax from discontinued operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.729)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;td style='width:56,25pt;text-align: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;td style='width:56,25pt;text-align: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;(1.729)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &gt;&lt;td style='width:229,5pt;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;Net attributable profit (loss) (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;1.305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;429&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;1.759&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;563&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;137&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;(2.635)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#072146;' &gt;2019 (*)&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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;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: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;Net interest income&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;15.789&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;3.567&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;2.395&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;6.209&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;2.814&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;3.196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;175&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;(233)&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;(2.335)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21.522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.656&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.029&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.850&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(339)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2.941)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Operating income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11.368&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.402&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.375&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;2.276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.294)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.193)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &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:8pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.046&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.878&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.341&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;1.396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.457)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(670)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &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:8pt;color:#000000;' &gt;Profit (loss) after tax from discontinued operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;td style='width:56,25pt;text-align: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;td style='width:56,25pt;text-align: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;(758)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:229,5pt;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;Net attributable profit (loss) (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;3.512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;1.386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;2.699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;506&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;721&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;(2.517)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#072146;' &gt;2018 (*)&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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;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: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;Net interest income&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;15.285&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;3.618&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;2.276&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;5.568&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;3.135&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;3.009&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;175&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;(269)&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;(2.227)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20.936&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.888&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.193&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.901&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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;(420)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2.731)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Operating income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.800&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.654&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.291)&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;(1.083)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.565&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.269&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;1.444&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.288&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.329)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Profit (loss) after tax from discontinued operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;704&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;td style='width:56,25pt;text-align: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;td style='width:56,25pt;text-align: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;704&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:229,5pt;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;Net attributable profit (loss) (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;5.400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;1.400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;2.367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;567&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;(343)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Incomebyoperatingsegment>
  <bbva:Amortizationrate id="ID_18" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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:15pt;' &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;font-weight:bold;color:#072146;' &gt;Type of assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:187,5pt;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;tr style='height:21pt;' &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;Lease use rights&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;The lesser of the lease term or the useful life of the underlying asset&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Amortizationrate>
  <bbva:Gpiargentina id="ID_19" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:480pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480pt;' &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:397,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:397,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;0&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:7pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7pt;' &gt;&lt;td style='width:397,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:397,5pt;' &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;387&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7pt;' &gt;&lt;td style='width:397,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:397,5pt;' &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;331&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7pt;' &gt;&lt;td style='width:397,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:397,5pt;' &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;36,5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Gpiargentina>
  <bbva:Hedgeinstrumentsaffectedbyibor id="ID_20" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:375pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:375pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Millions of Euros &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:8pt;font-weight:bold;color:#072146;' &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-weight:bold;color:#072146;' &gt;LIBOR USD &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-weight:bold;color:#072146;' &gt;LIBOR GBP&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-weight:bold;color:#072146;' &gt;Other - TIIE (*)&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-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: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:8pt;color:#000000;' &gt;Cash flow 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;9.084&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: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;574&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;9.658&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:8pt;color:#000000;' &gt;Fair value hedges&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;10.608&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;266&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;1.477&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;12.351&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Hedgeinstrumentsaffectedbyibor>
  <bbva:Tableofcashandcashequivalentsexplanatory id="ID_21" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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;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: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:8pt;font-weight:bold;color:#44546A;' &gt;&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;font-weight:bold;color:#072146;' &gt;Notes&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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;Cash on hand&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;6.447&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;7.060&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;6.346&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &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:8pt;color:#000000;' &gt;Cash balances at central banks (*)&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;53.079&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;31.755&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;43.880&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;Other demand deposits&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;5.994&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;5.488&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;7.970&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:261pt;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;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;8.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;65.520&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;44.303&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;58.196&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofcashandcashequivalentsexplanatory>
  <bbva:Financialassetsandliabilitiesheldfortrading id="ID_22" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:10,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:420pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:420pt;' &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:21pt;' &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-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;Notes&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:#072146;' &gt;2020&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:#072146;' &gt;2019&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:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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: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:#E7E6E6;' &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:#E7E6E6;' &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:#E7E6E6;' &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:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:45pt;border-top-style:solid;border-top-width:1;text-align:center;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;40.183&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;32.232&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;29.523&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.2.2&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;11.458&lt;/font&gt;&lt;/td&gt;&lt;td 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;8.892&lt;/font&gt;&lt;/td&gt;&lt;td 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;5.254&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;633&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;1.037&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;880&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;10.824&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;7.855&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;4.374&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.2.2&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;23.970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26.309&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:8pt;color:#000000;' &gt;25.577&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;1.011&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;840&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;1.001&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;19.942&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;23.918&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;22.950&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;1.479&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;679&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;790&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;1.538&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;872&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;836&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.2.2&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;32.647&lt;/font&gt;&lt;/td&gt;&lt;td 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;34.303&lt;/font&gt;&lt;/td&gt;&lt;td 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;28.750&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;2.163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;2.163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;20.499&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;21.286&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:8pt;color:#808080;' &gt;14.566&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;20.491&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;21.219&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;13.305&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;12.095&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;12.482&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;12.021&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;11.493&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;12.187&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:8pt;font-style:italic;color:#808080;' &gt;11.794&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:240pt;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:45pt;text-align:center;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;8.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;108.257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;101.735&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;89.103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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-weight:bold;color:#004481;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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:#E7E6E6;' &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:#E7E6E6;' &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:#E7E6E6;' &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:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:45pt;border-top-style:solid;border-top-width:1;text-align:center;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;41.680&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;34.066&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;30.801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Short positions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;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;12.312&lt;/font&gt;&lt;/td&gt;&lt;td 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;12.249&lt;/font&gt;&lt;/td&gt;&lt;td 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;11.025&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;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;32.496&lt;/font&gt;&lt;/td&gt;&lt;td 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;42.365&lt;/font&gt;&lt;/td&gt;&lt;td 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;37.934&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Deposits from central banks &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;6.277&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;7.635&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;10.511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;font-style:italic;color:#666666;' &gt;Repurchase agreement (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;6.277&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;7.635&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;10.511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Deposits from credit institutions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;16.558&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;24.969&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;15.687&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;font-style:italic;color:#666666;' &gt;Repurchase agreement (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;16.217&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:8pt;font-style:italic;color:#808080;' &gt;24.578&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;14.839&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;9.660&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;9.761&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:#808080;' &gt;11.736&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;font-style:italic;color:#666666;' &gt;Repurchase agreement (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;9.616&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;9.689&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;11.466&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:240pt;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:45pt;text-align:center;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;8.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;86.488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;88.680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;79.761&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsandliabilitiesheldfortrading>
  <bbva:Derivativesbytypeofriskbyproductorbytypeofmarket id="ID_23" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,75pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:504,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:504,75pt;' &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:93pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:93pt;' &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:137,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:137,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:137,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:137,25pt;' &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 colspan='3' rowspan='1' style='width:137,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:137,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27,75pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:93pt;' &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;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;26.451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;26.028&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;3.252.066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;21.004&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;20.378&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;3.024.794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;18.546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;18.169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;2.929.371&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC &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:7pt;color:#000000;' &gt;26.447&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:7pt;color:#000000;' &gt;26.020&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:7pt;color:#000000;' &gt;3.233.718&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:7pt;color:#000000;' &gt;21.004&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:7pt;color:#000000;' &gt;20.377&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:7pt;color:#000000;' &gt;2.997.443&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:7pt;color:#000000;' &gt;18.546&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:7pt;color:#000000;' &gt;18.169&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:7pt;color:#000000;' &gt;2.910.016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Organized market&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;18.348&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;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:7pt;color:#000000;' &gt;27.351&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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: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:7pt;color:#000000;' &gt;19.355&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Equity instruments&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:7pt;font-weight:bold;color:#004481;' &gt;2.626&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:7pt;font-weight:bold;color:#004481;' &gt;4.143&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:7pt;font-weight:bold;color:#004481;' &gt;72.176&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:7pt;font-weight:bold;color:#004481;' &gt;2.263&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:7pt;font-weight:bold;color:#004481;' &gt;3.499&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:7pt;font-weight:bold;color:#004481;' &gt;84.140&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:7pt;font-weight:bold;color:#004481;' &gt;2.799&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:7pt;font-weight:bold;color:#004481;' &gt;2.956&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:7pt;font-weight:bold;color:#004481;' &gt;114.184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC&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:7pt;color:#000000;' &gt;584&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:7pt;color:#000000;' &gt;1.836&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:7pt;color:#000000;' &gt;42.351&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:7pt;color:#000000;' &gt;353&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:7pt;color:#000000;' &gt;1.435&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:7pt;color:#000000;' &gt;40.507&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:7pt;color:#000000;' &gt;631&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:7pt;color:#000000;' &gt;463&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:7pt;color:#000000;' &gt;39.599&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Organized market&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.042&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.307&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:7pt;color:#000000;' &gt;29.825&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:7pt;color:#000000;' &gt;1.910&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;74.586&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Foreign exchange and gold&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:7pt;font-weight:bold;color:#004481;' &gt;10.952&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:7pt;font-weight:bold;color:#004481;' &gt;11.216&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:7pt;font-weight:bold;color:#004481;' &gt;461.898&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:7pt;font-weight:bold;color:#004481;' &gt;8.608&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:7pt;font-weight:bold;color:#004481;' &gt;9.788&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:7pt;font-weight:bold;color:#004481;' &gt;472.194&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:7pt;font-weight:bold;color:#004481;' &gt;7.942&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:7pt;font-weight:bold;color:#004481;' &gt;9.280&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:7pt;font-weight:bold;color:#004481;' &gt;432.283&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC&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:7pt;color:#000000;' &gt;10.942&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:7pt;color:#000000;' &gt;11.216&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:7pt;color:#000000;' &gt;457.180&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:7pt;color:#000000;' &gt;8.571&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:7pt;color:#000000;' &gt;9.782&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:7pt;color:#000000;' &gt;463.662&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:7pt;color:#000000;' &gt;7.931&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:7pt;color:#000000;' &gt;9.225&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:7pt;color:#000000;' &gt;426.952&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Organized market&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;4.719&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5.331&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Credit&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:7pt;font-weight:bold;color:#004481;' &gt;153&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:7pt;font-weight:bold;color:#004481;' &gt;292&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:7pt;font-weight:bold;color:#004481;' &gt;23.411&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:7pt;font-weight:bold;color:#004481;' &gt;353&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:7pt;font-weight:bold;color:#004481;' &gt;397&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:7pt;font-weight:bold;color:#004481;' &gt;29.077&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:7pt;font-weight:bold;color:#004481;' &gt;232&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:7pt;font-weight:bold;color:#004481;' &gt;393&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:7pt;font-weight:bold;color:#004481;' &gt;25.452&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit default swap&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:7pt;color:#000000;' &gt;146&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:7pt;color:#000000;' &gt;156&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:7pt;color:#000000;' &gt;21.529&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:7pt;color:#000000;' &gt;338&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:7pt;color:#000000;' &gt;283&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:7pt;color:#000000;' &gt;26.702&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:7pt;color:#000000;' &gt;228&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:7pt;color:#000000;' &gt;248&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:7pt;color:#000000;' &gt;22.791&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit spread option&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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: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: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: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:7pt;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:7pt;color:#000000;' &gt;150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Total return swap&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.882&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.161&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Commodities&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;26&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:7pt;font-weight:bold;color:#004481;' &gt;4&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:7pt;font-weight:bold;color:#004481;' &gt;4&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:7pt;font-weight:bold;color:#004481;' &gt;64&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:7pt;font-weight:bold;color:#004481;' &gt;3&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:7pt;font-weight:bold;color:#004481;' &gt;3&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:7pt;font-weight:bold;color:#004481;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;DERIVATIVES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;40.183&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;41.680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;3.809.577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;32.232&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;34.066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;3.610.269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;29.523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;30.801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;3.501.358&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;Of which: OTC - credit institutions&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:7pt;font-style:italic;color:#808080;' &gt;24.432&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:7pt;font-style:italic;color:#808080;' &gt;27.244&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:7pt;font-style:italic;color:#808080;' &gt;958.017&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:7pt;font-style:italic;color:#808080;' &gt;19.962&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:7pt;font-style:italic;color:#808080;' &gt;22.973&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:7pt;font-style:italic;color:#808080;' &gt;1.000.243&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:7pt;font-style:italic;color:#808080;' &gt;16.305&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:7pt;font-style:italic;color:#808080;' &gt;18.055&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:7pt;font-style:italic;color:#808080;' &gt;897.384&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;Of which: OTC - other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;8.211&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:7pt;font-style:italic;color:#808080;' &gt;8.493&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:7pt;font-style:italic;color:#808080;' &gt;2.663.978&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;6.028&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;6.089&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:7pt;font-style:italic;color:#808080;' &gt;2.370.988&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;7.136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;7.522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;Of which: OTC - other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;5.484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;3.627&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:7pt;font-style:italic;color:#808080;' &gt;134.690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;4.294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;2.932&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;3.902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;2.677&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Derivativesbytypeofriskbyproductorbytypeofmarket>
  <bbva:Tableofnontradingfinancialassetsmandatoryatfairvaluethroughprofitorloss id="ID_24" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17,15pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:419,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:419,25pt;' &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:21,5pt;' &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;font-weight:bold;color:#000000;' &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:8pt;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: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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &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:8pt;color:#000000;' &gt;Equity instruments&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;7.2.2&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;4.133&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;4.327&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;3.095&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &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;Debt securities&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;7.2.2&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;356&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;110&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;237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &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;Loans and advances to customers&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;7.2.2&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;709&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;1.120&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;1.803&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:203,25pt;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;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;8.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;5.198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;5.557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;5.135&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofnontradingfinancialassetsmandatoryatfairvaluethroughprofitorloss>
  <bbva:Tableoffinancialinstrumentsdesignatedatfairvaluethroughprofitorlossexplanatory id="ID_25" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:24pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:430,5pt;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;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:18pt;' &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;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/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:50,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&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;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.2.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.117 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.313 &lt;/font&gt;&lt;/td&gt;&lt;/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;font-weight:bold;color:#004481;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;902 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;944&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;976 &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:50,25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.531 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.656&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.858 &lt;/font&gt;&lt;/td&gt;&lt;/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;Other financial liabilities: Unit-linked products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.617 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.410&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.159 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &gt;&lt;td style='width:229,5pt;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:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;8.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;10.050 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;10.010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;6.993 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoffinancialinstrumentsdesignatedatfairvaluethroughprofitorlossexplanatory>
  <bbva:Disclosureoffinancialassetsatfairvaluethroughothercomprehensiveincomeexplanatory id="ID_26" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:440,25pt;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;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:21pt;' &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;font-weight:bold;color:#000000;' &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:8pt;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: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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Equity instruments&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;7.2.2&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;1.100&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;2.420&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;2.595&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Debt securities (*)&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;68.308&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;58.731&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;53.709&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Loans and advances to credit institutions&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;7.2.2&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;33&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;33&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;33&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:224,25pt;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:54pt;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;8.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;69.440&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;61.183&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;56.337&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: loss allowances of debt securities&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;font-style:italic;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;font-style:italic;color:#666666;' &gt;(97)&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;font-style:italic;color:#666666;' &gt;(110)&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;font-style:italic;color:#666666;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoffinancialassetsatfairvaluethroughothercomprehensiveincomeexplanatory>
  <bbva:Financialassetsatfairvaluethroughothercomprehensiveincomedebtsecurities id="ID_27" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11,25pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:724,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:724,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Financial assets at fair value through other comprehensive income. Debt securities (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:192,75pt;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:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:198pt;' &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:198,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:198,75pt;' &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:22,5pt;' &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:8pt;font-weight:bold;color:#0066CC;' &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;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: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;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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;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: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;Amortized      cost &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;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: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;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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;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: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;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: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;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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;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: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:8pt;font-weight:bold;color:#004481;' &gt;Domestic debt securities&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:#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:#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;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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;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: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:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;td style='width:49,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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:22,5pt;' &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:8pt;color:#000000;' &gt;Government and other government agency debt securities&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;28.582&lt;/font&gt;&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;801&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;(16)&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;29.367&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;20.740&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;830&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;(20)&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;21.550&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;17.205&lt;/font&gt;&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;661&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;(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;17.857&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Credit institutions&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;1.363&lt;/font&gt;&lt;/td&gt;&lt;td 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;76&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.439&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;959&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;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;793&lt;/font&gt;&lt;/td&gt;&lt;td 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;63&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;855&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Other issuers&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;867&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;906&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;907&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;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;804&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:11,25pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &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:48,75pt;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;30.811&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;917&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;31.712&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;22.607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;935&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;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;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;23.521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;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;18.802&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;19.553&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Foreign debt securities&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;font-weight:bold;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;font-weight:bold;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:8pt;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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-weight:bold;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;font-weight:bold;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-weight:bold;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;font-weight:bold;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-weight:bold;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;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: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:8pt;font-weight:bold;color:#004481;' &gt;Mexico&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:#002060;' &gt;9.107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#002060;' &gt;291&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:#002060;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#002060;' &gt;9.395&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:#002060;' &gt;7.790&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:#002060;' &gt;22&lt;/font&gt;&lt;/td&gt;&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:#002060;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#002060;' &gt;7.786&lt;/font&gt;&lt;/td&gt;&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:#002060;' &gt;6.299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#002060;' &gt;6&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:#002060;' &gt;(142)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#002060;' &gt;6.163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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:8pt;color:#000000;' &gt;Government and other government agency debt securities&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;8.309&lt;/font&gt;&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;271&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;(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;8.579&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;6.869&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;18&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;(19)&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;6.868&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;5.286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color: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: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;(121)&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;5.169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Credit institutions&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;113&lt;/font&gt;&lt;/td&gt;&lt;td 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&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;118&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;77&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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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: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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:11,25pt;' &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:8pt;color:#000000;' &gt;Other issuers&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;685&lt;/font&gt;&lt;/td&gt;&lt;td 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;15&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;(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;698&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;843&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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;978&lt;/font&gt;&lt;/td&gt;&lt;td 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: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;(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;961&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;The United States&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;font-weight:bold;color:#002060;' &gt;4.642&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;font-weight:bold;color:#002060;' &gt;52&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;font-weight:bold;color:#002060;' &gt;(3)&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-weight:bold;color:#002060;' &gt;4.691&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;font-weight:bold;color:#002060;' &gt;11.376&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;font-weight:bold;color:#002060;' &gt;68&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-weight:bold;color:#002060;' &gt;(51)&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-weight:bold;color:#002060;' &gt;11.393&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-weight:bold;color:#002060;' &gt;14.507&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;font-weight:bold;color:#002060;' &gt;47&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-weight:bold;color:#002060;' &gt;(217)&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-weight:bold;color:#002060;' &gt;14.338&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;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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: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;2.307&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&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;(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;2.315&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;8.570&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;42&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;(12)&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;8.599&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;11.227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&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;(135)&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;11.130&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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:8pt;color:#808080;' &gt;Treasury and other government agencies&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:#808080;' &gt;2.307&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;9&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:#808080;' &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:#808080;' &gt;2.315&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:#808080;' &gt;5.595&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:#808080;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;5.624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;7.285&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;29&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:#808080;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;7.258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;States and political subdivisions &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:#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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &gt;2.975&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:#808080;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;2.975&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;3.942&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;8&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:#808080;' &gt;(79)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;3.872&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Credit institutions&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;186&lt;/font&gt;&lt;/td&gt;&lt;td 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: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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&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;122&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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td 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: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:45,75pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Other issuers&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;2.149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&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;(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;2.187&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;2.684&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;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.670&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.231&lt;/font&gt;&lt;/td&gt;&lt;td 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;9&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;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Turkey&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;font-weight:bold;color:#002060;' &gt;3.456&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;font-weight:bold;color:#002060;' &gt;90&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;font-weight:bold;color:#002060;' &gt;(73)&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-weight:bold;color:#002060;' &gt;3.473&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;font-weight:bold;color:#002060;' &gt;3.752&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;font-weight:bold;color:#002060;' &gt;38&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-weight:bold;color:#002060;' &gt;(76)&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-weight:bold;color:#002060;' &gt;3.713&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-weight:bold;color:#002060;' &gt;4.164&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;font-weight:bold;color:#002060;' &gt;20&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-weight:bold;color:#002060;' &gt;(269)&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-weight:bold;color:#002060;' &gt;3.916&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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:8pt;color:#000000;' &gt;Government and other government agency debt securities&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;3.456&lt;/font&gt;&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;90&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;(73)&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;3.473&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;3.752&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;38&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;(76)&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;3.713&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;4.007&lt;/font&gt;&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;20&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;(256)&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;3.771&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Credit institutions&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: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: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:45,75pt;text-align: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: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: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;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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: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;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Other countries&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;font-weight:bold;color:#002060;' &gt;18.340&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;font-weight:bold;color:#002060;' &gt;739&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;font-weight:bold;color:#002060;' &gt;(42)&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-weight:bold;color:#002060;' &gt;19.037&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;font-weight:bold;color:#002060;' &gt;11.870&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;font-weight:bold;color:#002060;' &gt;554&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-weight:bold;color:#002060;' &gt;(106)&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-weight:bold;color:#002060;' &gt;12.318&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-weight:bold;color:#002060;' &gt;9.551&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;font-weight:bold;color:#002060;' &gt;319&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-weight:bold;color:#002060;' &gt;(130)&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-weight:bold;color:#002060;' &gt;9.740&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33,75pt;' &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:8pt;color:#000000;' &gt;Other foreign governments and other government agency debt securities&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;10.458&lt;/font&gt;&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;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:Black;min-width:47,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;10.943&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;6.963&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;383&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;(78)&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;7.269&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;4.510&lt;/font&gt;&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;173&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;(82)&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;4.601&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Central banks&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;1.599&lt;/font&gt;&lt;/td&gt;&lt;td 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;21&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;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.611&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;1.005&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;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size: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;1.010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;987&lt;/font&gt;&lt;/td&gt;&lt;td 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: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;(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;986&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Credit institutions&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;2.521&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:8pt;color:#000000;' &gt;116&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;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.629&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;1.795&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;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(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;1.892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.856&lt;/font&gt;&lt;/td&gt;&lt;td 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;111&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;(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;1.947&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Other issuers&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;3.762&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.854&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;2.106&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;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(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;2.147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.197&lt;/font&gt;&lt;/td&gt;&lt;td 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;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;(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;2.206&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &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:48,75pt;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;35.545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;1.172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;(120)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;36.596&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;34.788&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;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;(259)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;35.210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;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;34.521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;(758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;34.157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &gt;&lt;font 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;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;66.356&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;2.089&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;(137)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;68.308&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;57.395&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;1.617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;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;(280)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;58.731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;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;53.323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;1.153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;(768)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;53.709&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsatfairvaluethroughothercomprehensiveincomedebtsecurities>
  <bbva:Financialassetsatfairvaluethroughothercomprehensiveincomedebtsecuritiesbyrating id="ID_28" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:561pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:561pt;' &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;text-align:left;vertical-align:bottom;border-color:Black;min-width:129,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' 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:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:140,25pt;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:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:140,25pt;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:#072146;' &gt;2018&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:100,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &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:50,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:90,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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: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;%&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;border-color:Black;min-width:91,5pt;' &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: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;/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:100,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.345&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,2%&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;531&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;1,0%&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:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;13.100&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;24,4%&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;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;449&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &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:91,5pt;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;222&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;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;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &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:91,5pt;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;409&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;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;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.912&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;632&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;1,2%&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;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &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:91,5pt;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;687&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;1,3%&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:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31.614&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;18.426&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;34,3%&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:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.629&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;9.195&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;17,1%&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:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;4.607&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;8,6%&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:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;1.003&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;1,9%&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:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;4.453&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;8,3%&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:9pt;color:#000000;' &gt;Unclassified&lt;/font&gt;&lt;/td&gt;&lt;td style='width:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;345&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &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:91,5pt;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;445&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;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;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:100,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;68.308&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;100,0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:90,75pt;' &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:49,5pt;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;100,0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;53.709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;100,0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsatfairvaluethroughothercomprehensiveincomedebtsecuritiesbyrating>
  <bbva:Financialassetsatfairvaluethroughothercomprehensiveincomeequityinstruments id="ID_29" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:734,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:734,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:11,25pt;' &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:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:212,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:212,25pt;' &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 colspan='4' rowspan='1' style='width:189pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:189pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:198pt;' &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:33,75pt;' &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:8pt;font-weight:bold;color:#0066CC;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:#003366;' &gt;Unrealized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;gains&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:#003366;' &gt;Unrealized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt; value &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:#003366;' &gt;Amortized cost&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:#003366;' &gt;Unrealized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;gains&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:#003366;' &gt;Unrealized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &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:8pt;font-weight:bold;color:#003366;' &gt;Amortized cost&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;border-color:Black;min-width:53,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;font-weight:bold;color:#003366;' &gt;Unrealized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;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: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:8pt;font-weight:bold;color:#004481;' &gt;Equity 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:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;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:#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:#000000;' &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:#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;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:8pt;font-weight:bold;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:right;vertical-align:middle;border-color:Black;min-width:53,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#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;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: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:8pt;color:#000000;' &gt;Spanish companies shares&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;2.182&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;(1.309)&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;873&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;2.181&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: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;(507)&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;1.674&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:8pt;color:#000000;' &gt;2.172&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;-&lt;/font&gt;&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;(210)&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;1.962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Foreign companies shares&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;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align: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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;121&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;136&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;87&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;(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;213&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:8pt;color:#000000;' &gt;90&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;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: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;121&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;The United States&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:56,25pt;text-align: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:45,75pt;text-align: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: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;30&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;47&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:45,75pt;text-align: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:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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;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;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: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;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;Mexico&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;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;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:45,75pt;text-align: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;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&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;33&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:45,75pt;text-align: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;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:8pt;color:#000000;' &gt;1&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;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: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;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;Turkey&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:56,25pt;text-align: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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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: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;3&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;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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;-&lt;/font&gt;&lt;/td&gt;&lt;td 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:45,75pt;text-align: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;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;Other countries&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;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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&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;102&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;5&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;(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;96&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:8pt;color:#000000;' &gt;66&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;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:11,25pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &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:54pt;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;2.282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;(1.326)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;995&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;2.317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;(518)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;1.886&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2.262&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53,25pt;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;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;(222)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;2.083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Equity instruments&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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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:8pt;font-weight:bold;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:8pt;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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:8pt;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;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: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:8pt;color:#000000;' &gt;Spanish companies shares&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;5&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&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: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: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;5&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;1&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: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: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:8pt;color:#000000;' &gt;6&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: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: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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Foreign companies shares &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;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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:45,75pt;text-align: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: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;450&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;79&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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;528&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:8pt;color:#000000;' &gt;453&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;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: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;506&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;The United States&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;td style='width:56,25pt;text-align: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:45,75pt;text-align: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: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;387&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;32&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:45,75pt;text-align: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:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;388&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;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: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;411&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;Turkey&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;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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:45,75pt;text-align: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: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;5&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&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:45,75pt;text-align: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:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;Other countries&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;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;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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:45,75pt;text-align: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: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;57&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;43&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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99&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: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;27&lt;/font&gt;&lt;/td&gt;&lt;td 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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &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:54pt;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;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;105&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;80&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;533&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53,25pt;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;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;513&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &gt;&lt;font 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;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;2.344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;(1.327)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;1.100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;2.772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;(519)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;2.420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2.721&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53,25pt;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;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;(223)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;2.595&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsatfairvaluethroughothercomprehensiveincomeequityinstruments>
  <bbva:Accumulatedothercomprehensiveincomeitemsthatmaybereclassifiedtoprofitorlossavailableforsalefinancialassets id="ID_30" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11,25pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:633,75pt;text-align:left;vertical-align:top;background-color:#E9E9E9;border-color:Black;min-width:633,75pt;' &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:11,25pt;' &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;&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;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:180pt;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:8pt;font-weight:bold;color:#072146;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:180pt;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:8pt;font-weight:bold;color:#072146;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:center;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;Notes&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;font-weight:bold;color:#072146;' &gt;2020&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;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;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;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;2020&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;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;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;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:213,75pt;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:60pt;text-align:center;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;1.760&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;1.557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;(403)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;(155)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;84&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Effect of changes in accounting policies (IFRS 9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:center;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;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;text-align:right;vertical-align:middle;background-color:#C0C0C0;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;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;(58)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;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;text-align:right;vertical-align:middle;background-color:#C0C0C0;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;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;(40)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Valuation gains and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:center;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004FA4;' &gt;&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;489&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;1.267&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;(640)&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;(876)&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;(238)&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;(174)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Amounts transferred to income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:center;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004FA4;' &gt;&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;(72)&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;(119)&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;(137)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;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;text-align:right;vertical-align:middle;background-color:#C0C0C0;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;text-align:right;vertical-align:middle;background-color:#C0C0C0;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:11,25pt;' &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;Income tax and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:center;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004FA4;' &gt;&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;(107)&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;(331)&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;221&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;23&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;(10)&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;(25)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:213,75pt;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:60pt;text-align:center;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;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;2.069&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;1.760&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;(1.256)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;(403)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;(155)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Accumulatedothercomprehensiveincomeitemsthatmaybereclassifiedtoprofitorlossavailableforsalefinancialassets>
  <bbva:Tableoffinancialassetsatamortisedcost id="ID_31" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:10,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:399,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:399,75pt;' &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:21pt;' &gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:8,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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: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;2020&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;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:8,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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: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;35.737&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;38.877&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;32.530&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government&lt;/font&gt;&lt;/td&gt;&lt;td style='width:8,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;28.727&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;31.526&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;25.014&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;783&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;719&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;644&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;5.027&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;5.254&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;5.421&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;1.200&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;1.379&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;1.451&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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: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;6.209&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;4.275&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;3.941&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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: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;14.575&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;13.649&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;9.163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;1.914&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;1.817&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;478&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;12.661&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;11.832&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;8.685&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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: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;311.147&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;382.360&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;374.027&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government&lt;/font&gt;&lt;/td&gt;&lt;td style='width:8,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;19.391&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;28.222&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;28.114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;9.817&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;11.207&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;9.468&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;136.424&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;166.789&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;163.922&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:8,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;145.515&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;176.142&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;172.522&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:8,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:8,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8.1&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;367.668&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;439.162&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;419.660&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;font-style:italic;color:#808080;' &gt;14.672&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;font-style:italic;color:#808080;' &gt;15.954&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;font-style:italic;color:#808080;' &gt;16.349&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &gt;&lt;td style='width:234pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:#808080;' &gt;(12.141)&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:#808080;' &gt;(12.427)&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:#808080;' &gt;(12.217)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &gt;&lt;td style='width:234pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:#808080;' &gt;(48)&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:#808080;' &gt;(52)&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:#808080;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoffinancialassetsatamortisedcost>
  <bbva:Tabledebtsecuritiesatamortizedcost id="ID_32" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:756,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:756,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Financial assets at amortized cost: Debt securities. (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:216pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:216pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:216pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:216pt;' &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:216pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:216pt;' &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:28,5pt;' &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:8pt;font-weight:bold;color:#0066CC;' &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;border-color:Black;min-width:54pt;' &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: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: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: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: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: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: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: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:6pt;font-weight:bold;color:#072146;' &gt;Amortized      cost &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: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: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: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: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: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: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:6pt;font-weight:bold;color:#072146;' &gt;Amortized      cost &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: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: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: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: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: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:11,25pt;' &gt;&lt;td style='width:108,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &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: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:#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;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;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;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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &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: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:8pt;color:#000000;' &gt;Government and other government agencies&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:6pt;color:#000000;' &gt;13.656&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:6pt;color:#000000;' &gt;1.212&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:6pt;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:6pt;color:#000000;' &gt;14.868&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:6pt;color:#000000;' &gt;12.755&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:6pt;color:#000000;' &gt;630&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:6pt;color:#000000;' &gt;(21)&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:6pt;color:#000000;' &gt;13.363&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:6pt;color:#000000;' &gt;10.953&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:6pt;color:#000000;' &gt;458&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:6pt;color:#000000;' &gt;(265)&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:6pt;color:#000000;' &gt;11.146&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;color:#000000;' &gt;26&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;26&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:6pt;color:#000000;' &gt;53&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&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:6pt;color:#000000;' &gt;4.835&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:6pt;color:#000000;' &gt;59&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:6pt;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:6pt;color:#000000;' &gt;4.887&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:6pt;color:#000000;' &gt;4.903&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:6pt;color:#000000;' &gt;38&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:6pt;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:6pt;color:#000000;' &gt;4.931&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:6pt;color:#000000;' &gt;5.014&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:6pt;color:#000000;' &gt;41&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:6pt;color:#000000;' &gt;(25)&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:6pt;color:#000000;' &gt;5.030&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18.492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1.271&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;19.756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;17.684&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18.320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;16.019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(290)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;16.228&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Foreign debt securities&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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;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: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:8pt;font-weight:bold;color:#004481;' &gt;Mexico&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:6pt;font-weight:bold;color:#002060;' &gt;7.771&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:6pt;font-weight:bold;color:#002060;' &gt;534&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:6pt;font-weight:bold;color:#002060;' &gt;(16)&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:6pt;font-weight:bold;color:#002060;' &gt;8.289&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:6pt;font-weight:bold;color:#002060;' &gt;6.374&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:6pt;font-weight:bold;color:#002060;' &gt;168&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:6pt;font-weight:bold;color:#002060;' &gt;(18)&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:6pt;font-weight:bold;color:#002060;' &gt;6.525&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:6pt;font-weight:bold;color:#002060;' &gt;5.148&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:6pt;font-weight:bold;color:#002060;' &gt;10&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:6pt;font-weight:bold;color:#002060;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;5.157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33,75pt;' &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:8pt;color:#000000;' &gt;Government and other government agencies debt securities&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:6pt;color:#000000;' &gt;6.963&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:6pt;color:#000000;' &gt;479&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:6pt;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:6pt;color:#000000;' &gt;7.442&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:6pt;color:#000000;' &gt;5.576&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:6pt;color:#000000;' &gt;166&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:6pt;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:6pt;color:#000000;' &gt;5.742&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:6pt;color:#000000;' &gt;4.571&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:6pt;color:#000000;' &gt;9&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:6pt;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:6pt;color:#000000;' &gt;4.579&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&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:6pt;color:#000000;' &gt;632&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:6pt;color:#000000;' &gt;55&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:6pt;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:6pt;color:#000000;' &gt;687&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:6pt;color:#000000;' &gt;526&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;529&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:6pt;color:#000000;' &gt;350&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:6pt;color:#000000;' &gt;1&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:6pt;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:6pt;color:#000000;' &gt;351&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&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:6pt;color:#000000;' &gt;176&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:6pt;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:6pt;color:#000000;' &gt;(16)&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:6pt;color:#000000;' &gt;160&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:6pt;color:#000000;' &gt;272&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:6pt;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:6pt;color:#000000;' &gt;(18)&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:6pt;color:#000000;' &gt;254&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:6pt;color:#000000;' &gt;227&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;The United States&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:6pt;font-weight:bold;color:#002060;' &gt;52&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:6pt;font-weight:bold;color:#002060;' &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:6pt;font-weight:bold;color:#002060;' &gt;(26)&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:6pt;font-weight:bold;color:#002060;' &gt;26&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:6pt;font-weight:bold;color:#002060;' &gt;6.125&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:6pt;font-weight:bold;color:#002060;' &gt;111&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:6pt;font-weight:bold;color:#002060;' &gt;(20)&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:6pt;font-weight:bold;color:#002060;' &gt;6.217&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:6pt;font-weight:bold;color:#002060;' &gt;2.559&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:6pt;font-weight:bold;color:#002060;' &gt;15&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:6pt;font-weight:bold;color:#002060;' &gt;(3)&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:6pt;font-weight:bold;color:#002060;' &gt;2.570&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Government securities &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:6pt;color:#000000;' &gt;14&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;14&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:6pt;color:#000000;' &gt;5.690&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:6pt;color:#000000;' &gt;111&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:6pt;color:#000000;' &gt;(18)&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:6pt;color:#000000;' &gt;5.783&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:6pt;color:#000000;' &gt;2.070&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:6pt;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:6pt;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:6pt;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:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &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:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;14&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:6pt;color:#808080;' &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:6pt;color:#808080;' &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:6pt;color:#808080;' &gt;14&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:6pt;color:#808080;' &gt;1.161&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:6pt;color:#808080;' &gt;50&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:6pt;color:#808080;' &gt;(17)&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:6pt;color:#808080;' &gt;1.193&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:6pt;color:#808080;' &gt;118&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:6pt;color:#808080;' &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:6pt;color:#808080;' &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:6pt;color:#808080;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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:8pt;color:#808080;' &gt;States and political subdivisions &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:6pt;color:#808080;' &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:6pt;color:#808080;' &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:6pt;color:#808080;' &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:6pt;color:#808080;' &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:6pt;color:#808080;' &gt;4.530&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:6pt;color:#808080;' &gt;61&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:6pt;color:#808080;' &gt;(1)&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:6pt;color:#808080;' &gt;4.590&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:6pt;color:#808080;' &gt;1.952&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:6pt;color:#808080;' &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:6pt;color:#808080;' &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:6pt;color:#808080;' &gt;1.952&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&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:6pt;color:#000000;' &gt;23&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:6pt;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:6pt;color:#000000;' &gt;(16)&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:6pt;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:6pt;color:#000000;' &gt;25&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:6pt;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:6pt;color:#000000;' &gt;(1)&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:6pt;color:#000000;' &gt;25&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:6pt;color:#000000;' &gt;23&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:6pt;color:#000000;' &gt;9&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:6pt;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:6pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&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:6pt;color:#000000;' &gt;15&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:6pt;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:6pt;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:6pt;color:#000000;' &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:6pt;color:#000000;' &gt;410&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:6pt;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:6pt;color:#000000;' &gt;(1)&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:6pt;color:#000000;' &gt;409&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:6pt;color:#000000;' &gt;466&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:6pt;color:#000000;' &gt;6&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:6pt;color:#000000;' &gt;(1)&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:6pt;color:#000000;' &gt;470&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Turkey&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:6pt;font-weight:bold;color:#002060;' &gt;3.628&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:6pt;font-weight:bold;color:#002060;' &gt;95&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:6pt;font-weight:bold;color:#002060;' &gt;(25)&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:6pt;font-weight:bold;color:#002060;' &gt;3.698&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:6pt;font-weight:bold;color:#002060;' &gt;4.113&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:6pt;font-weight:bold;color:#002060;' &gt;48&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:6pt;font-weight:bold;color:#002060;' &gt;(65)&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:6pt;font-weight:bold;color:#002060;' &gt;4.097&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:6pt;font-weight:bold;color:#002060;' &gt;4.062&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:6pt;font-weight:bold;color:#002060;' &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:6pt;font-weight:bold;color:#002060;' &gt;(261)&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:6pt;font-weight:bold;color:#002060;' &gt;3.801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33,75pt;' &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:8pt;color:#000000;' &gt;Government and other government agencies debt securities&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:6pt;color:#000000;' &gt;3.621&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:6pt;color:#000000;' &gt;95&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:6pt;color:#000000;' &gt;(25)&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:6pt;color:#000000;' &gt;3.691&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:6pt;color:#000000;' &gt;4.105&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:6pt;color:#000000;' &gt;47&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:6pt;color:#000000;' &gt;(65)&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:6pt;color:#000000;' &gt;4.088&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:6pt;color:#000000;' &gt;4.054&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:6pt;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:6pt;color:#000000;' &gt;(261)&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:6pt;color:#000000;' &gt;3.793&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&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:6pt;color:#000000;' &gt;6&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;6&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:6pt;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:6pt;color:#000000;' &gt;1&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:6pt;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:6pt;color:#000000;' &gt;8&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:6pt;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:6pt;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:6pt;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:6pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&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:6pt;color:#000000;' &gt;1&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;1&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:6pt;color:#000000;' &gt;1&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;1&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:6pt;color:#000000;' &gt;1&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other countries&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:6pt;font-weight:bold;color:#002060;' &gt;5.795&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:6pt;font-weight:bold;color:#002060;' &gt;505&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:6pt;font-weight:bold;color:#002060;' &gt;(1)&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:6pt;font-weight:bold;color:#002060;' &gt;6.299&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:6pt;font-weight:bold;color:#002060;' &gt;4.581&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:6pt;font-weight:bold;color:#002060;' &gt;82&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:6pt;font-weight:bold;color:#002060;' &gt;(26)&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:6pt;font-weight:bold;color:#002060;' &gt;4.637&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:6pt;font-weight:bold;color:#002060;' &gt;4.741&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:6pt;font-weight:bold;color:#002060;' &gt;32&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:6pt;font-weight:bold;color:#002060;' &gt;(152)&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:6pt;font-weight:bold;color:#002060;' &gt;4.622&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33,75pt;' &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:8pt;color:#000000;' &gt;Other foreign governments and other government agency debt securities&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:6pt;color:#000000;' &gt;4.473&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:6pt;color:#000000;' &gt;467&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:6pt;color:#000000;' &gt;(1)&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:6pt;color:#000000;' &gt;4.939&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:6pt;color:#000000;' &gt;3.400&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:6pt;color:#000000;' &gt;82&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:6pt;color:#000000;' &gt;(22)&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:6pt;color:#000000;' &gt;3.459&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:6pt;color:#000000;' &gt;3.366&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:6pt;color:#000000;' &gt;27&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:6pt;color:#000000;' &gt;(152)&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:6pt;color:#000000;' &gt;3.242&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Central banks&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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;color:#000000;' &gt;64&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&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:6pt;color:#000000;' &gt;122&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;122&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:6pt;color:#000000;' &gt;135&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;135&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:6pt;color:#000000;' &gt;147&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&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:6pt;color:#000000;' &gt;1.200&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:6pt;color:#000000;' &gt;38&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:6pt;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:6pt;color:#000000;' &gt;1.238&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:6pt;color:#000000;' &gt;1.047&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:6pt;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:6pt;color:#000000;' &gt;(4)&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:6pt;color:#000000;' &gt;1.043&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:6pt;color:#000000;' &gt;1.164&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:6pt;color:#000000;' &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:6pt;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:6pt;color:#000000;' &gt;1.169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;17.245&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1.134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18.311&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;21.194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(129)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;21.476&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;16.510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(416)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;16.150&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;35.737&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2.405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(75)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;38.067&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;38.877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1.077&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;39.796&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;32.530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;556&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(706)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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>
  <bbva:Financialassetsatamortizedcostdebtsecuritiesbyrating id="ID_33" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:527,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:527,25pt;' &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;text-align:left;vertical-align:bottom;border-color:Black;min-width:171,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:118,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:118,5pt;' &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 colspan='2' rowspan='1' style='width:118,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:118,5pt;' &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:118,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:118,5pt;' &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: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;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: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;%&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;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: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;%&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;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: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;%&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:8pt;color:#000000;' &gt;AAA&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;151&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;0,4%&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;39&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;0,1%&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;49&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;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: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;74&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;0,2%&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;6.481&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;16,7%&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;1.969&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:#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: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;64&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;0,2%&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;14&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;62&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;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: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;48&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;0,1%&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;713&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;1,8%&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: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: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&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;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;607&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;1,9%&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: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;590&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;1,7%&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;16.806&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;43,2%&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;21&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;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:8pt;color:#000000;' &gt;A-&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;16.736&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:#000000;' &gt;46,8%&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;607&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;1,6%&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;6.117&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;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: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;7.919&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;22,2%&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;3.715&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;9,6%&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;13.894&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;42,7%&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: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;942&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;2,6%&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;551&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;1,4%&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;1.623&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;5,0%&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: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;4.499&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;12,6%&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;3.745&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;9,6%&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;2.694&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;8,3%&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: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;3.928&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;11,0%&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;5.123&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;13,2%&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;4.371&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;13,4%&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;Unclassified&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;743&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;2,1%&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;1.083&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;2,8%&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;1.123&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;3,5%&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;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:59,25pt;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;35.737&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;100,0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;38.877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;100,0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;32.530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;100,0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsatamortizedcostdebtsecuritiesbyrating>
  <bbva:TableLoansinterestratesensibilityandadvancestocustomers id="ID_34" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:588pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:588pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;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:11,25pt;' &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:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:216pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:216pt;' &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 colspan='3' rowspan='1' style='width:216pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:216pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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: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;Domestic&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;Foreign&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;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;border-color:Black;min-width:72pt;' &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: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;Foreign&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;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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: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;46.104&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;66.444&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;112.548&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;55.920&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;68.915&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;124.835&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Variable rate&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;86.710&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;41.452&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;128.162&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;79.329&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;97.765&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;177.095&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:156pt;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:72pt;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;132.814&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;107.895&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;240.710&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;135.249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;166.680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;301.929&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:TableLoansinterestratesensibilityandadvancestocustomers>
  <bbva:Securitizedloans id="ID_35" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20,25pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:477pt;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-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-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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;23.953&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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:245,25pt;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;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;6.144&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;4.249&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;3.221&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &gt;&lt;td style='width:245,25pt;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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77,25pt;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;30.098&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77,25pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Securitizedloans>
  <ifrs-full:DisclosureOfLoansAndAdvancesToCustomersExplanatory id="ID_36" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:435,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:435,75pt;' &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:21pt;' &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-weight:bold;color:#44546A;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: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;2.835&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;3.050&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;3.641&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: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;13.093&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;16.354&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;15.445&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: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;15.544&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.436&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: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;7.650&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.650&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: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;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;294&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: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;267.031&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;332.160&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;324.767&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.924&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.794&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:240pt;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:65,25pt;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;311.147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;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;382.360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;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;374.027&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfLoansAndAdvancesToCustomersExplanatory>
  <bbva:Favorablescenarioforgdpunemploymentrateestimatesformajorgeographies id="ID_37" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:553,5pt;text-align:left;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:553,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;Positive scenario of GDP, unemployment rate and HPI for the main geographies&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:184,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:184,5pt;' &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 colspan='3' rowspan='1' style='width:184,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:184,5pt;' &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 colspan='2' rowspan='1' style='width:123pt;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:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:6pt;font-weight:bold;color:#072146;' &gt;Date&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;HPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;HPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2020&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:6pt;color:#000000;' &gt;(11,20%)&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:6pt;color:#000000;' &gt;16,44%&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:6pt;color:#000000;' &gt;(1,44%)&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:6pt;color:#000000;' &gt;(8,85%)&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:6pt;color:#000000;' &gt;4,57%&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:6pt;color:#000000;' &gt;1,71%&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:6pt;color:#000000;' &gt;2,07%&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:6pt;color:#000000;' &gt;13,45%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,63%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16,03%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,58%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,40%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,23%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,08%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,27%&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:6pt;color:#000000;' &gt;12,72%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,80%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,17%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,30%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,58%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,95%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10,82%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,79%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,62%&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:6pt;color:#000000;' &gt;5,04%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0,31%&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:6pt;color:#000000;' &gt;4,13%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,58%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,58%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,66%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,47%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,01%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,11%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,19%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,55%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,47%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,76%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,72%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,10%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10,85%&lt;/font&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='7' rowspan='1' style='width:430,5pt;text-align:left;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:430,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &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:123pt;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:6pt;font-weight:bold;color:#072146;' &gt;Peru&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;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:6pt;font-weight:bold;color:#072146;' &gt;Argentina&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;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:6pt;font-weight:bold;color:#072146;' &gt;Colombia&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:6pt;font-weight:bold;color:#072146;' &gt;Date&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2020&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:6pt;color:#000000;' &gt;(11,74%)&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:6pt;color:#000000;' &gt;12,75%&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:6pt;color:#000000;' &gt;(10,64%)&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:6pt;color:#000000;' &gt;13,60%&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:6pt;color:#000000;' &gt;(6,80%)&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:6pt;color:#000000;' &gt;18,14%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12,56%&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:6pt;color:#000000;' &gt;10,29%&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:6pt;color:#000000;' &gt;9,95%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14,39%&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:6pt;color:#000000;' &gt;6,80%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16,14%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,25%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10,00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,52%&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:6pt;color:#000000;' &gt;11,88%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,70%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14,53%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,68%&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:6pt;color:#000000;' &gt;8,73%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,99%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,15%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14,28%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,58%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,69%&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:6pt;color:#000000;' &gt;3,27%&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:6pt;color:#000000;' &gt;12,49%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,35%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,88%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,78%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,60%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12,28%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Favorablescenarioforgdpunemploymentrateestimatesformajorgeographies>
  <ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory id="ID_38" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:486,75pt;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;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:21pt;' &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-weight:bold;color:#44546A;' &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-weight:bold;color:#44546A;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:276,75pt;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;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;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;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;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;/tr&gt;&lt;tr style='height:11,25pt;' &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;Derivatives - Hedge accounting&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:#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:8pt;color:#000000;' &gt;1.991&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;1.729&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;2.892&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;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:8pt;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:8pt;color:#000000;' &gt;51&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;28&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276,75pt;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;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;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;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;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;/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;Hedging derivatives&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:#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:8pt;color:#000000;' &gt;2.318&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;2.233&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;2.680&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory>
  <bbva:Estimationscenarioforgdpunemploymentrateestimatesformajorgeographies id="ID_39" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:553,5pt;text-align:left;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:553,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;Estimate of GDP, unemployment rate and HPI for the main geographies&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:184,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:184,5pt;' &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 colspan='3' rowspan='1' style='width:184,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:184,5pt;' &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 colspan='2' rowspan='1' style='width:123pt;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:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:6pt;font-weight:bold;color:#072146;' &gt;Date&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;HPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;HPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2020&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:6pt;color:#000000;' &gt;(11,48%)&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:6pt;color:#000000;' &gt;16,95%&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:6pt;color:#000000;' &gt;(1,98%)&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:6pt;color:#000000;' &gt;(9,25%)&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:6pt;color:#000000;' &gt;4,62%&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:6pt;color:#000000;' &gt;1,81%&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:6pt;color:#000000;' &gt;(0,01%)&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:6pt;color:#000000;' &gt;13,98%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,99%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,51%&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:6pt;color:#000000;' &gt;(5,08%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,71%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,57%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,32%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,52%&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:6pt;color:#000000;' &gt;14,05%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,04%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14,35%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,48%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,53%&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:6pt;color:#000000;' &gt;5,35%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0,15%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,53%&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:6pt;color:#000000;' &gt;12,58%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,93%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12,41%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,44%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,55%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,19%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0,31%&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:6pt;color:#000000;' &gt;4,01%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,95%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,14%&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:6pt;color:#000000;' &gt;3,20%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,45%&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:6pt;color:#000000;' &gt;5,03%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,02%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,99%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,38%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,99%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,12%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,46%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,88%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,98%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,03%&lt;/font&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='7' rowspan='1' style='width:430,5pt;text-align:center;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:430,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &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:123pt;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:6pt;font-weight:bold;color:#072146;' &gt;Peru&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;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:6pt;font-weight:bold;color:#072146;' &gt;Argentina&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;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:6pt;font-weight:bold;color:#072146;' &gt;Colombia&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;border-color:Black;min-width:61,5pt;' &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: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2020&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:6pt;color:#000000;' &gt;(13,04%)&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:6pt;color:#000000;' &gt;12,80%&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:6pt;color:#000000;' &gt;(13,00%)&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:6pt;color:#000000;' &gt;13,98%&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:6pt;color:#000000;' &gt;(7,51%)&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:6pt;color:#000000;' &gt;18,23%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10,05%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10,48%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,54%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15,40%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,48%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16,40%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,52%&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:6pt;color:#000000;' &gt;10,23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,54%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12,80%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,46%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14,83%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,69%&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:6pt;color:#000000;' &gt;8,93%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,98%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,60%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,15%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14,57%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,58%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,98%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,18%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,27%&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:6pt;color:#000000;' &gt;12,78%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,35%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,28%&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:6pt;color:#000000;' &gt;3,60%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12,55%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Estimationscenarioforgdpunemploymentrateestimatesformajorgeographies>
  <bbva:Hedgingderivativesbreakdownbytypeoftheriskandtypeofhedge id="ID_40" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,75pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:477,75pt;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:12,75pt;' &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:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:102pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:102pt;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-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;/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;989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;525&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/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;989&lt;/font&gt;&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;525&lt;/font&gt;&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;/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;font-weight:bold;color:#004481;' &gt;Equity&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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &gt;3&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;font-weight:bold;color:#004481;' &gt;6&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;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;-&lt;/font&gt;&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;/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;font-weight:bold;color:#004481;' &gt;Foreign exchange and gold&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;font-weight:bold;color:#004481;' &gt;435&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;font-weight:bold;color:#004481;' &gt;350&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;font-weight:bold;color:#004481;' &gt;420&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;font-weight:bold;color:#004481;' &gt;316&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;font-weight:bold;color:#004481;' &gt;587&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;font-weight:bold;color:#004481;' &gt;398&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;435&lt;/font&gt;&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;350&lt;/font&gt;&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;/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;1.424&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;874&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/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;154&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1.055&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/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;154&lt;/font&gt;&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;1.041&lt;/font&gt;&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;/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;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: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;/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;225&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;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;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;/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;225&lt;/font&gt;&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;50&lt;/font&gt;&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;/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;color:#000000;' &gt;Organized market&lt;/font&gt;&lt;/td&gt;&lt;td 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;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: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;/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;379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;1.111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/tr&gt;&lt;tr style='height:22,5pt;' &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;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;166&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;139&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/tr&gt;&lt;tr style='height:22,5pt;' &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;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;170&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/tr&gt;&lt;tr style='height:22,5pt;' &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 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;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;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;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;/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;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;1.991&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;2.318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/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;1.718&lt;/font&gt;&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;1.965&lt;/font&gt;&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;/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;273&lt;/font&gt;&lt;/td&gt;&lt;td 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;333&lt;/font&gt;&lt;/td&gt;&lt;td 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;/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;-&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Hedgingderivativesbreakdownbytypeoftheriskandtypeofhedge>
  <bbva:Itemshedgedbyfairvaluehedges id="ID_41" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:701,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:701,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Hedged items in fair value hedges. December 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:67,5pt;' &gt;&lt;td style='width:328,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;Carrying amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;Hedge adjustments included in the carrying amount of assets/liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Remaining adjustments for discontinued micro hedges including hedges of net positions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;Hedged items in portfolio hedge of interest rate risk&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:328,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &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:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &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:109,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:109,5pt;' &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:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &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;tr style='height:12,75pt;' &gt;&lt;td style='width:328,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial assets measured at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;28.091&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;(99)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:328,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;28.059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &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:328,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &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:328,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial assets measured at amortized cost&lt;/font&gt;&lt;/td&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:#004481;' &gt;11.177&lt;/font&gt;&lt;/td&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:#004481;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&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:#004481;' &gt;2.500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:328,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;11.177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &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:328,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &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:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &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:109,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:109,5pt;' &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:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &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;tr style='height:12,75pt;' &gt;&lt;td style='width:328,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial liabilities measured at amortized costs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;23.546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;(576)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:328,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;23.543&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &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:328,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &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:Itemshedgedbyfairvaluehedges>
  <bbva:Scheduleofthenominalamountofthehedginginstrument id="ID_42" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:510,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:510,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#5AC4C4;' &gt;Calendar of the notional maturities of the hedging instruments (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &gt;&lt;td style='width:240,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:240,75pt;' &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: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;font-weight:bold;color:#072146;' &gt;Up to 3 months&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;font-weight:bold;color:#072146;' &gt;From 3 months to 1 year&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;font-weight:bold;color:#072146;' &gt;From 1 to 5 years&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;font-weight:bold;color:#072146;' &gt;More than 5 years&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;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:240,75pt;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:240,75pt;' &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: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:#004481;' &gt;3.581&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:#004481;' &gt;10.945&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:#004481;' &gt;28.487&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:#004481;' &gt;18.656&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:#004481;' &gt;61.668&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;Of which: Interest rate&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;color:#000000;' &gt;3.569&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;color:#000000;' &gt;10.879&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;color:#000000;' &gt;26.946&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;color:#000000;' &gt;18.609&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;color:#000000;' &gt;60.003&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &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: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:#004481;' &gt;10.495&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:#004481;' &gt;2.808&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:#004481;' &gt;2.576&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:#004481;' &gt;6.972&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:#004481;' &gt;22.852&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;Of which: Interest rate&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;color:#000000;' &gt;6.756&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;color:#000000;' &gt;154&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;color:#000000;' &gt;1.816&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;color:#000000;' &gt;6.600&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;color:#000000;' &gt;15.326&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &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: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:#004481;' &gt;1.853&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:#004481;' &gt;2.910&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:#004481;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;4.763&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &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: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:#004481;' &gt;299&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:#004481;' &gt;576&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:#004481;' &gt;1.533&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:#004481;' &gt;1.029&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:#004481;' &gt;3.437&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &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: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:#004481;' &gt;101&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:#004481;' &gt;11&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:#004481;' &gt;1.049&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:#004481;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1.161&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &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: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:#004481;' &gt;15.933&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:#004481;' &gt;17.340&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:#004481;' &gt;33.984&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:#004481;' &gt;26.623&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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;93.881&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Scheduleofthenominalamountofthehedginginstrument>
  <bbva:Unfavorablescenarioforgdpunemploymentrateestimatesformajorgeographies id="ID_43" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:553,5pt;text-align:left;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:553,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;Negative scenario of GDP, unemployment rate and HPI for the main geographies&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:184,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:184,5pt;' &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 colspan='3' rowspan='1' style='width:184,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:184,5pt;' &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 colspan='2' rowspan='1' style='width:123pt;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:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;border-color:Black;min-width:61,5pt;' &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: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;HPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;HPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2020&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:6pt;color:#000000;' &gt;(11,76%)&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:6pt;color:#000000;' &gt;17,44%&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:6pt;color:#000000;' &gt;(2,60%)&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:6pt;color:#000000;' &gt;(9,64%)&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:6pt;color:#000000;' &gt;4,67%&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:6pt;color:#000000;' &gt;1,89%&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:6pt;color:#000000;' &gt;(2,10%)&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:6pt;color:#000000;' &gt;14,49%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,37%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18,94%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6,69%)&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:6pt;color:#000000;' &gt;2,84%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,48%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15,51%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,82%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15,92%&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:6pt;color:#000000;' &gt;2,49%&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:6pt;color:#000000;' &gt;3,25%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,53%&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:6pt;color:#000000;' &gt;(0,06%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,56%&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:6pt;color:#000000;' &gt;13,64%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,88%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13,99%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,94%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,48%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,34%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0,17%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,92%&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:6pt;color:#000000;' &gt;12,33%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,03%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12,70%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,45%&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:6pt;color:#000000;' &gt;1,41%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,17%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0,99%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,91%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,56%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,97%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,45%&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:6pt;color:#000000;' &gt;2,36%&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:6pt;color:#000000;' &gt;1,41%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,02%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,70%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,91%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,20%&lt;/font&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='7' rowspan='1' style='width:421,5pt;text-align:left;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:421,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &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:120pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:120pt;' &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='2' rowspan='1' style='width:120pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:120pt;' &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='2' rowspan='1' style='width:120pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:120pt;' &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:12,75pt;' &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;border-color:Black;min-width:61,5pt;' &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: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:6pt;font-weight:bold;color:#072146;' &gt;GDP&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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&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:6pt;font-weight:bold;color:#072146;' &gt;GDP&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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&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:6pt;font-weight:bold;color:#072146;' &gt;GDP&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:6pt;font-weight:bold;color:#072146;' &gt;Unemployment&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2020&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:6pt;color:#000000;' &gt;(14,33%)&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:6pt;color:#000000;' &gt;12,85%&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:6pt;color:#000000;' &gt;(15,28%)&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:6pt;color:#000000;' &gt;14,34%&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:6pt;color:#000000;' &gt;(8,25%)&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:6pt;color:#000000;' &gt;18,31%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2021&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:6pt;color:#000000;' &gt;7,53%&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:6pt;color:#000000;' &gt;10,69%&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:6pt;color:#000000;' &gt;0,89%&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:6pt;color:#000000;' &gt;16,38%&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:6pt;color:#000000;' &gt;4,16%&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:6pt;color:#000000;' &gt;16,66%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2022&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:6pt;color:#000000;' &gt;3,78%&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:6pt;color:#000000;' &gt;10,48%&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:6pt;color:#000000;' &gt;1,33%&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:6pt;color:#000000;' &gt;13,69%&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:6pt;color:#000000;' &gt;3,16%&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:6pt;color:#000000;' &gt;15,10%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2023&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:6pt;color:#000000;' &gt;3,69%&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:6pt;color:#000000;' &gt;9,15%&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:6pt;color:#000000;' &gt;1,86%&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:6pt;color:#000000;' &gt;10,19%&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:6pt;color:#000000;' &gt;3,15%&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:6pt;color:#000000;' &gt;14,84%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2024&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:6pt;color:#000000;' &gt;3,57%&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:6pt;color:#000000;' &gt;7,62%&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:6pt;color:#000000;' &gt;1,83%&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:6pt;color:#000000;' &gt;8,63%&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:6pt;color:#000000;' &gt;3,27%&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:6pt;color:#000000;' &gt;13,04%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2025&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:6pt;color:#000000;' &gt;3,35%&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:6pt;color:#000000;' &gt;7,27%&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:6pt;color:#000000;' &gt;1,86%&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:6pt;color:#000000;' &gt;7,75%&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:6pt;color:#000000;' &gt;3,60%&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:6pt;color:#000000;' &gt;12,80%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Unfavorablescenarioforgdpunemploymentrateestimatesformajorgeographies>
  <ifrs-full:DisclosureOfJointVenturesExplanatory id="ID_44" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:356,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:356,25pt;' &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:160,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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: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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:160,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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:160,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;77&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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;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;32&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;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;td style='width: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;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:160,5pt;' &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;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;149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;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;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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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-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-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-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:160,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;567&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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;285&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Allianz Seguros y Reaseguros, 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;250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;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;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:160,5pt;' &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;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;1.288&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;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;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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:160,5pt;' &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;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;1.437&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfJointVenturesExplanatory>
  <bbva:JoinVenturesAndAssociatesEntitiesChangesInTheYear id="ID_45" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:471,75pt;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;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:54pt;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;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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;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;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;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;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;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;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;Acquisitions and capital increases&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;257&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;161&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;309&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;(47)&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;/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;(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;(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;/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;(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;/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;(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;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;/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;Dividends, valuation adjustments and others&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;(188)&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;(43)&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;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;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;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;1.437&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:JoinVenturesAndAssociatesEntitiesChangesInTheYear>
  <bbva:Tangibleassetsbreakdownbytypeofassetcostvalueamortisationsandimpairments id="ID_46" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11,25pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:574,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:574,5pt;' &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 2020. (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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:135pt;text-align:center;vertical-align:middle;border-color:Black;min-width:135pt;' &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:90pt;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:6pt;font-weight:bold;color:#072146;' &gt;Right to use asset&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:11,25pt;' &gt;&lt;td colspan='1' rowspan='2' 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;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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 colspan='1' rowspan='2' style='width:45pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:11,25pt;' &gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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: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;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-top-style: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;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color: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;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-top-style: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;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color: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;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:11,25pt;' &gt;&lt;td style='width:187,5pt;border-top-style:solid;border-top-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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:27pt;' &gt;&lt;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;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;6.001&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;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;56&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;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;6.351&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;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;3.516&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;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;101&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;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;216&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;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;337&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;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;16.578&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;157&lt;/font&gt;&lt;/td&gt;&lt;td 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;54&lt;/font&gt;&lt;/td&gt;&lt;td 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;255&lt;/font&gt;&lt;/td&gt;&lt;td 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;183&lt;/font&gt;&lt;/td&gt;&lt;td 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;td 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;651&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(10)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(23)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(294)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(157)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(498)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Companies held for sale (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(925)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(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: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;(294)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(1.616)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(248)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(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;(60)&lt;/font&gt;&lt;/td&gt;&lt;td 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;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:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td 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;(272)&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:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(595)&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;(2)&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;(426)&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;(127)&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;(24)&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;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.166)&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;background-color:#5AC4C4;border-color:Black;min-width:187,5pt;' &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:27pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:27pt;' &gt;&lt;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;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;4.380&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;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;52&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;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;5.515&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;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;3.061&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;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;123&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;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;201&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;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;345&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;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;13.677&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Accrued depreciation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:right;vertical-align:middle;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;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;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;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;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;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;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;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;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:187,5pt;border-top-style:solid;border-top-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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:27pt;' &gt;&lt;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;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;1.253&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;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;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;4.344&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;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;370&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;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;11&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;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&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;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;74&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;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;6.067&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;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: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;312&lt;/font&gt;&lt;/td&gt;&lt;td 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;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:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;781&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Additions transfer to discontinued operations (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;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;-&lt;/font&gt;&lt;/td&gt;&lt;td 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;20&lt;/font&gt;&lt;/td&gt;&lt;td 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;-&lt;/font&gt;&lt;/td&gt;&lt;td 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;76&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;td 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;(248)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(10)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(260)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Companies held for sale (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(373)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(321)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(71)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(765)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(42)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(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:8pt;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: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;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td 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;(58)&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:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(110)&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;(294)&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;(42)&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;(3)&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;(21)&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;(470)&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;background-color:#5AC4C4;border-color:Black;min-width:187,5pt;' &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:27pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:27pt;' &gt;&lt;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;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;833&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;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;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;3.859&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;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;582&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;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;27&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;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&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;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;54&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;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;5.371&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:187,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;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;font-weight:bold;color:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;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:27pt;' &gt;&lt;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;212&lt;/font&gt;&lt;/td&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;-&lt;/font&gt;&lt;/td&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;191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45pt;' &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: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;26&lt;/font&gt;&lt;/td&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;443&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:187,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&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;18&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;26&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;68&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;12&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;1&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;125&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Companies held for sale (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td 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;(8)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(68)&lt;/font&gt;&lt;/td&gt;&lt;td 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;10&lt;/font&gt;&lt;/td&gt;&lt;td 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;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td 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;(51)&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:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(5)&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;(26)&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;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&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;background-color:#5AC4C4;border-color:Black;min-width:187,5pt;' &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:27pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:27pt;' &gt;&lt;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;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;149&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;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;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;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;274&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;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;26&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;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;34&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;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;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;483&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;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: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;font-weight:bold;color:#004481;' &gt;Net tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;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: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;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;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: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;font-weight:bold;color:#004481;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;4.536&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &gt;2.007&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &gt;2.955&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &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:8pt;font-weight:bold;color:#094FA4;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &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:8pt;font-weight:bold;color:#094FA4;' &gt;10.068&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;font-weight:bold;color:#004481;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;3.398&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;1.656&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &gt;2.205&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;7.823&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tangibleassetsbreakdownbytypeofassetcostvalueamortisationsandimpairments>
  <bbva:Tangibleassetsbyspanishandforeignsubsidiariesnetassetsvalues id="ID_47" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;4.294&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;/tr&gt;&lt;tr style='height:13,5pt;' &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;Foreign subsidiaries&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;3.529&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;5.203&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;4.524&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:276,75pt;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;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;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;7.823&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tangibleassetsbyspanishandforeignsubsidiariesnetassetsvalues>
  <ifrs-full:DisclosureOfCreditRiskExposureExplanatory id="ID_48" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:479,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:479,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#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: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:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color: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-bottom-style:solid;border-bottom-width:1;text-align: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;December                 &lt;/font&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: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;font-weight:bold;color:#072146;' &gt;Stage 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:8pt;font-weight:bold;color:#072146;' &gt;Stage 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;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: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:7pt;font-weight:bold;color:#004481;' &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;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:#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;68.075&lt;/font&gt;&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;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;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;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:10,5pt;' &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:7pt;color:#000000;' &gt;Debt securities&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: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:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23.970&lt;/font&gt;&lt;/td&gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Equity instruments&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: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;11.458&lt;/font&gt;&lt;/td&gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loans and advances&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: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;32.647&lt;/font&gt;&lt;/td&gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:18,75pt;' &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: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: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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;5.198&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width: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:7pt;color:#000000;' &gt;Loans and advances&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:7pt;color:#000000;' &gt;11&lt;/font&gt;&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;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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Debt securities&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: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;356&lt;/font&gt;&lt;/td&gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Equity instruments&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: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;4.133&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: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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:18,75pt;' &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: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: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:7pt;font-weight:bold;color:#004481;' &gt;12&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;font-weight:bold;color:#004481;' &gt;1.117&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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width: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:7pt;font-weight:bold;color:#004481;' &gt;Derivatives (trading and hedging) &lt;/font&gt;&lt;/td&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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-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;46.302&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18,75pt;' &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;border-color:Black;min-width:224,25pt;' &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: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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-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;69.537&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;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &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: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: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:7pt;color:#000000;' &gt;Debt securities&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: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;68.404&lt;/font&gt;&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;67.995&lt;/font&gt;&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;410&lt;/font&gt;&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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Equity instruments&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: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;1.100&lt;/font&gt;&lt;/td&gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loans and advances to credit institutions&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: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;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;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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Financial assets at amortized cost&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;379.857&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;font-weight:bold;color:#004481;' &gt;334.552&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;font-weight:bold;color:#004481;' &gt;30.607&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;font-weight:bold;color:#004481;' &gt;14.698&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loans and advances to central banks&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: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;6.229&lt;/font&gt;&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;6.229&lt;/font&gt;&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loans and advances to credit institutions&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: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;14.591&lt;/font&gt;&lt;/td&gt;&lt;td 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;14.565&lt;/font&gt;&lt;/td&gt;&lt;td 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;6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loans and advances to customers&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: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;323.252&lt;/font&gt;&lt;/td&gt;&lt;td 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;277.998&lt;/font&gt;&lt;/td&gt;&lt;td 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;30.581&lt;/font&gt;&lt;/td&gt;&lt;td 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;14.672&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Debt securities&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: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;35.785&lt;/font&gt;&lt;/td&gt;&lt;td 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;35.759&lt;/font&gt;&lt;/td&gt;&lt;td 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;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Total financial assets risk&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:7pt;font-weight:bold;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;font-weight:bold;color:#004481;' &gt;570.084&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;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: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:7pt;font-weight:bold;color:#004481;' &gt;Total loan commitments and financial guarantees&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;179.440&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;font-weight:bold;color:#004481;' &gt;165.726&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;font-weight:bold;color:#004481;' &gt;12.682&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;font-weight:bold;color:#004481;' &gt;1.032&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loan commitments given&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:7pt;color:#000000;' &gt;33&lt;/font&gt;&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;132.584&lt;/font&gt;&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;124.104&lt;/font&gt;&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;8.214&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:7pt;color:#000000;' &gt;265&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Financial 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: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;10.665&lt;/font&gt;&lt;/td&gt;&lt;td 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;9.208&lt;/font&gt;&lt;/td&gt;&lt;td 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;1.168&lt;/font&gt;&lt;/td&gt;&lt;td 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;290&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Other commitments 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: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;36.190&lt;/font&gt;&lt;/td&gt;&lt;td 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;32.414&lt;/font&gt;&lt;/td&gt;&lt;td 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;3.300&lt;/font&gt;&lt;/td&gt;&lt;td 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;477&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:224,25pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total maximum credit exposure&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:center;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;749.524&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:479,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:479,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#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: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:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color: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-bottom-style:solid;border-bottom-width:1;text-align: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;December 2019&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;font-weight:bold;color:#072146;' &gt;Stage 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:8pt;font-weight:bold;color:#072146;' &gt;Stage 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;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: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:7pt;font-weight:bold;color:#004481;' &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;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:#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;69.503&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;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:#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:10,5pt;' &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:7pt;color:#000000;' &gt;Debt securities&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: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:Black;min-width:51pt;' &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: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;&lt;/font&gt;&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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Equity instruments&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: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;8.892&lt;/font&gt;&lt;/td&gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loans and advances&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: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;34.303&lt;/font&gt;&lt;/td&gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:18,75pt;' &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: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: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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width: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:7pt;color:#000000;' &gt;Loans and advances&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:7pt;color:#000000;' &gt;11&lt;/font&gt;&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;1.120&lt;/font&gt;&lt;/td&gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Debt securities&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: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;110&lt;/font&gt;&lt;/td&gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Equity instruments&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: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;4.327&lt;/font&gt;&lt;/td&gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:18,75pt;' &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: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: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:7pt;font-weight:bold;color:#004580;' &gt;12&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;font-weight:bold;color:#004481;' &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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width: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:7pt;font-weight:bold;color:#004481;' &gt;Derivatives (trading and hedging) &lt;/font&gt;&lt;/td&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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-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;39.462&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18,75pt;' &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;border-color:Black;min-width:224,25pt;' &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: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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-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;61.293&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;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &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: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: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:7pt;color:#000000;' &gt;Debt securities&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: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;58.841&lt;/font&gt;&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;58.590&lt;/font&gt;&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;250&lt;/font&gt;&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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Equity instruments&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: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;2.420&lt;/font&gt;&lt;/td&gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loans and advances to credit institutions&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: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;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;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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Financial assets at amortized cost&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;451.640&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;font-weight:bold;color:#004481;' &gt;402.024&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;font-weight:bold;color:#004481;' &gt;33.624&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;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: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:7pt;color:#000000;' &gt;Loans and advances to central banks&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: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;4.285&lt;/font&gt;&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;4.285&lt;/font&gt;&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loans and advances to credit institutions&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: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;13.664&lt;/font&gt;&lt;/td&gt;&lt;td 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;13.500&lt;/font&gt;&lt;/td&gt;&lt;td 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;158&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loans and advances to customers&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: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;394.763&lt;/font&gt;&lt;/td&gt;&lt;td 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;345.449&lt;/font&gt;&lt;/td&gt;&lt;td 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;33.360&lt;/font&gt;&lt;/td&gt;&lt;td 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;15.954&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Debt securities&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: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;38.930&lt;/font&gt;&lt;/td&gt;&lt;td 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;38.790&lt;/font&gt;&lt;/td&gt;&lt;td 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;106&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Total financial assets risk&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:7pt;font-weight:bold;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;font-weight:bold;color:#004481;' &gt;628.670&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;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: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:7pt;font-weight:bold;color:#004481;' &gt;Total loan commitments and financial guarantees&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;181.116&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;font-weight:bold;color:#004481;' &gt;169.663&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;font-weight:bold;color:#004481;' &gt;10.452&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;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: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:7pt;color:#000000;' &gt;Loan commitments given&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:7pt;color:#000000;' &gt;33&lt;/font&gt;&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;130.923&lt;/font&gt;&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;123.707&lt;/font&gt;&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;6.945&lt;/font&gt;&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;270&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Financial 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: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;10.984&lt;/font&gt;&lt;/td&gt;&lt;td 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;9.804&lt;/font&gt;&lt;/td&gt;&lt;td 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;955&lt;/font&gt;&lt;/td&gt;&lt;td 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;224&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Other commitments 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: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;39.209&lt;/font&gt;&lt;/td&gt;&lt;td 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;36.151&lt;/font&gt;&lt;/td&gt;&lt;td 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;2.552&lt;/font&gt;&lt;/td&gt;&lt;td 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:10,5pt;' &gt;&lt;td style='width:224,25pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total maximum credit exposure&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:center;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;809.786&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;&lt;/font&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:499,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:499,5pt;' &gt;&lt;font style='font-family:Arial;font-size: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: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:7pt;font-weight:bold;color:#0066CC;' &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: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;December 2018&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;font-weight:bold;color:#072146;' &gt;Stage 1&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;font-weight:bold;color:#072146;' &gt;Stage 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;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: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:7pt;font-weight:bold;color:#004481;' &gt;Financial assets held for trading &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:#000000;' &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;border-color:Black;min-width:54pt;' &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: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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;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:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width: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:7pt;color:#000000;' &gt;Debt securities&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:#000000;' &gt;10&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:7pt;color:#000000;' &gt;25.577&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Equity instruments&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:7pt;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:7pt;color:#000000;' &gt;5.254&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loans and advances&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:7pt;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:7pt;color:#000000;' &gt;28.750&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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: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: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:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;5.135&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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width: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:7pt;color:#000000;' &gt;Loans and advances&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:#000000;' &gt;11&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:7pt;color:#000000;' &gt;1.803&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Debt securities&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:7pt;color:#000000;' &gt;11&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:7pt;color:#000000;' &gt;237&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Equity instruments&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:7pt;color:#000000;' &gt;11&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:7pt;color:#000000;' &gt;3.095&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25,5pt;' &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: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: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:#004580;' &gt;12&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:7pt;font-weight:bold;color:#004481;' &gt;1.313&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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width: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:7pt;font-weight:bold;color:#004481;' &gt;Derivatives (trading and hedging) &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:#004481;' &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;border-color:Black;min-width:54pt;' &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:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &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:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &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:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &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:23,25pt;' &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: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: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:#004481;' &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;border-color:Black;min-width:54pt;' &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: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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &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: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: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:7pt;color:#000000;' &gt;Debt securities&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:#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:7pt;color:#000000;' &gt;53.737&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:7pt;color:#000000;' &gt;53.734&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:7pt;color:#000000;' &gt;3&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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Equity instruments&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:7pt;color:#000000;' &gt;13&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:7pt;color:#000000;' &gt;2.595&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loans and advances to credit institutions&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:7pt;color:#000000;' &gt;13&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:7pt;color:#000000;' &gt;33&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:7pt;color:#000000;' &gt;33&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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Financial assets at amortized cost&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:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;431.927&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:7pt;font-weight:bold;color:#004481;' &gt;384.632&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:7pt;font-weight:bold;color:#004481;' &gt;30.902&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: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: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:7pt;color:#000000;' &gt;Loans and advances to central banks&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:#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:7pt;color:#000000;' &gt;3.947&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:7pt;color:#000000;' &gt;3.947&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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Loans and advances to credit institutions&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:7pt;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:7pt;color:#000000;' &gt;9.175&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:7pt;color:#000000;' &gt;9.131&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:7pt;color:#000000;' &gt;34&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: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:229,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229,5pt;' &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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;386.225&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:7pt;color:#000000;' &gt;339.204&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:7pt;color:#000000;' &gt;30.673&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: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:229,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229,5pt;' &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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;32.580&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:7pt;color:#000000;' &gt;32.350&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:7pt;color:#000000;' &gt;195&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: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:229,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229,5pt;' &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:54pt;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:#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:7pt;font-weight:bold;color:#004481;' &gt;592.571&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &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: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: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:7pt;font-weight:bold;color:#004481;' &gt;Total loan commitments and financial guarantees&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:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;170.511&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:7pt;font-weight:bold;color:#004481;' &gt;161.404&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:7pt;font-weight:bold;color:#004481;' &gt;8.120&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: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: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:7pt;color:#000000;' &gt;Loan commitments given&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:#000000;' &gt;33&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:7pt;color:#000000;' &gt;118.959&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:7pt;color:#000000;' &gt;113.403&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:7pt;color:#000000;' &gt;5.308&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:7pt;color:#000000;' &gt;247&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Financial guarantees given&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:7pt;color:#000000;' &gt;33&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:7pt;color:#000000;' &gt;16.454&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:7pt;color:#000000;' &gt;14.902&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:7pt;color:#000000;' &gt;1.220&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:7pt;color:#000000;' &gt;332&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;color:#000000;' &gt;Other commitments given&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:7pt;color:#000000;' &gt;33&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:7pt;color:#000000;' &gt;35.098&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:7pt;color:#000000;' &gt;33.099&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:7pt;color:#000000;' &gt;1.591&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:7pt;color:#000000;' &gt;408&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:229,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total maximum credit exposure&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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>
  <ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory id="ID_49" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#002146;' &gt;The United States&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;font-weight:bold;color:#002146;' &gt;Mexico&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;font-weight:bold;color:#002146;' &gt;Turkey&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;font-weight:bold;color:#002146;' &gt;Colombia&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;font-weight:bold;color:#002146;' &gt;Chile&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;font-weight:bold;color:#002146;' &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;font-weight:bold;color:#002146;' &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;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;text-align: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;text-align: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;text-align: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;text-align: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;text-align: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;text-align: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;text-align: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;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;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;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;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;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;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;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;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;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;(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;(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;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;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;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;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;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;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;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;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;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;(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;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;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;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;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;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;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;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;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;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;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;(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;(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;(92)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(21)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(208)&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;(2.084)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(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:8pt;color:#000000;' &gt;(2.097)&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;Companies held for sale&lt;/font&gt;&lt;/td&gt;&lt;td 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;(1.740)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(1.740)&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;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, 2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;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;478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;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;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;910&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory>
  <bbva:Creditriskexposurebystagesandgeographiclocation id="ID_50" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:565,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:565,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;December 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:79,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:79,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:162pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:162pt;' &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:162pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:162pt;' &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:162pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:162pt;' &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:9pt;' &gt;&lt;td style='width:79,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:79,5pt;' &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: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;Total&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;Stage 1&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;Stage 2&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;Stage 3&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;Total&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;Stage 1&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;Stage 2&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;Stage 3&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;Total&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;Stage 1&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;Stage 2&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;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:79,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:79,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;Spain (*)&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;195.983&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;171.397&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;16.387&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;8.199&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;(5.679)&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;(753)&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;(849)&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;(4.077)&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;190.304&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;170.644&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;15.538&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;4.122&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:79,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:79,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;Mexico&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:7pt;color:#000000;' &gt;52.211&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:7pt;color:#000000;' &gt;46.373&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:7pt;color:#000000;' &gt;4.071&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:7pt;color:#000000;' &gt;1.767&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:7pt;color:#000000;' &gt;(2.211)&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:7pt;color:#000000;' &gt;(685)&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:7pt;color:#000000;' &gt;(442)&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:7pt;color:#000000;' &gt;(1.083)&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:7pt;color:#000000;' &gt;50.000&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:7pt;color:#000000;' &gt;45.688&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:7pt;color:#000000;' &gt;3.628&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:7pt;color:#000000;' &gt;684&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:79,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:79,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;Turkey (**)&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:7pt;color:#000000;' &gt;39.633&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:7pt;color:#000000;' &gt;30.832&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:7pt;color:#000000;' &gt;5.806&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:7pt;color:#000000;' &gt;2.995&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:7pt;color:#000000;' &gt;(2.338)&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:7pt;color:#000000;' &gt;(246)&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:7pt;color:#000000;' &gt;(535)&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:7pt;color:#000000;' &gt;(1.557)&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:7pt;color:#000000;' &gt;37.295&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:7pt;color:#000000;' &gt;30.586&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:7pt;color:#000000;' &gt;5.272&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:7pt;color:#000000;' &gt;1.438&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:79,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:79,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;South America (***)&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:7pt;color:#000000;' &gt;34.499&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:7pt;color:#000000;' &gt;28.484&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:7pt;color:#000000;' &gt;4.312&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:7pt;color:#000000;' &gt;1.703&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:7pt;color:#000000;' &gt;(1.870)&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:7pt;color:#000000;' &gt;(320)&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:7pt;color:#000000;' &gt;(460)&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:7pt;color:#000000;' &gt;(1.090)&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:7pt;color:#000000;' &gt;32.629&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:7pt;color:#000000;' &gt;28.165&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:7pt;color:#000000;' &gt;3.852&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:7pt;color:#000000;' &gt;612&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:79,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:79,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;Others &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:7pt;color:#000000;' &gt;925&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:7pt;color:#000000;' &gt;912&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:7pt;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:7pt;color:#000000;' &gt;8&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;918&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:7pt;color:#000000;' &gt;911&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:7pt;color:#000000;' &gt;4&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:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:79,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:79,5pt;' &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:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;323.252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;277.998&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;30.581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;14.672&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(12.105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2.005)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2.287)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(7.813)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;311.147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;275.993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;28.294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;6.860&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:79,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:79,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;Of which: individual&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &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:7pt;font-style:italic;color:#666666;' &gt;(2.611)&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:7pt;font-style:italic;color:#666666;' &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:7pt;font-style:italic;color:#666666;' &gt;(479)&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:7pt;font-style:italic;color:#666666;' &gt;(2.122)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:79,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:79,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;Of which: collective&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &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:7pt;font-style:italic;color:#666666;' &gt;(9.494)&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:7pt;font-style:italic;color:#666666;' &gt;(1.995)&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:7pt;font-style:italic;color:#666666;' &gt;(1.808)&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:7pt;font-style:italic;color:#666666;' &gt;(5.691)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &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:9pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:594,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:594,75pt;' &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:9pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:108,75pt;' &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='4' rowspan='1' style='width:162pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:162pt;' &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:162pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:162pt;' &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:162pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:162pt;' &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:9pt;' &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:7pt;font-weight:bold;color:#072146;' &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;Total&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;Stage 1&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;Stage 2&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;Stage 3&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;Total&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;Stage 1&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;Stage 2&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;Stage 3&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;Total&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;Stage 1&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;Stage 2&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;Stage 3&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:bottom;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Spain (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;197.058&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;173.843&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;14.599&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;8.616&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;(5.311)&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;(712)&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;(661)&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;(3.939)&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;191.747&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;173.131&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;13.939&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;4.677&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:bottom;border-color:Black;min-width:108,75pt;' &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:40,5pt;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;57.387&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:7pt;color:#000000;' &gt;49.744&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:7pt;color:#000000;' &gt;7.011&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:7pt;color:#000000;' &gt;632&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:7pt;color:#000000;' &gt;(688)&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:7pt;color:#000000;' &gt;(165)&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:7pt;color:#000000;' &gt;(342)&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:7pt;color:#000000;' &gt;(182)&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:7pt;color:#000000;' &gt;56.699&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:7pt;color:#000000;' &gt;49.580&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:7pt;color:#000000;' &gt;6.670&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:7pt;color:#000000;' &gt;450&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:bottom;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;60.099&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:7pt;color:#000000;' &gt;54.748&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:7pt;color:#000000;' &gt;3.873&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:7pt;color:#000000;' &gt;1.478&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:7pt;color:#000000;' &gt;(2.013)&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:7pt;color:#000000;' &gt;(697)&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:7pt;color:#000000;' &gt;(404)&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:7pt;color:#000000;' &gt;(912)&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:7pt;color:#000000;' &gt;58.087&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:7pt;color:#000000;' &gt;54.052&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:7pt;color:#000000;' &gt;3.469&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:7pt;color:#000000;' &gt;566&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:bottom;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Turkey (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;43.113&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:7pt;color:#000000;' &gt;34.536&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:7pt;color:#000000;' &gt;5.127&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:7pt;color:#000000;' &gt;3.451&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:7pt;color:#000000;' &gt;(2.613)&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:7pt;color:#000000;' &gt;(189)&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:7pt;color:#000000;' &gt;(450)&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:7pt;color:#000000;' &gt;(1.974)&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:7pt;color:#000000;' &gt;40.500&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:7pt;color:#000000;' &gt;34.347&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:7pt;color:#000000;' &gt;4.677&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:7pt;color:#000000;' &gt;1.477&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:bottom;border-color:Black;min-width:108,75pt;' &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:40,5pt;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;36.265&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:7pt;color:#000000;' &gt;31.754&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:7pt;color:#000000;' &gt;2.742&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:7pt;color:#000000;' &gt;1.769&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:7pt;color:#000000;' &gt;(1.769)&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:7pt;color:#000000;' &gt;(366)&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:7pt;color:#000000;' &gt;(323)&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:7pt;color:#000000;' &gt;(1.079)&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:7pt;color:#000000;' &gt;34.497&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:7pt;color:#000000;' &gt;31.388&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:7pt;color:#000000;' &gt;2.419&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:7pt;color:#000000;' &gt;690&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:bottom;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Others &lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;839&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:7pt;color:#000000;' &gt;824&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(8)&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;832&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:7pt;color:#000000;' &gt;823&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:7pt;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:7pt;color:#000000;' &gt;2&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;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;Total (****)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;394.763&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;345.449&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;33.360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;15.954&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(12.402)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2.129)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2.181)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(8.093)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;382.360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;343.320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;31.179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;7.861&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;font-style:italic;color:#808080;' &gt;Of which: individual&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &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:7pt;font-style:italic;color:#666666;' &gt;(2.795)&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:7pt;font-style:italic;color:#666666;' &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:7pt;font-style:italic;color:#666666;' &gt;(347)&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:7pt;font-style:italic;color:#666666;' &gt;(2.441)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:#808080;' &gt;Of which: collective&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &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:7pt;font-style:italic;color:#666666;' &gt;(9.608)&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:7pt;font-style:italic;color:#666666;' &gt;(2.123)&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:7pt;font-style:italic;color:#666666;' &gt;(1.834)&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:7pt;font-style:italic;color:#666666;' &gt;(5.652)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &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:9pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:657,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:657,75pt;' &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:9pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:108,75pt;' &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:183pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:183pt;' &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:183pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:183pt;' &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:183pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:183pt;' &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:9pt;' &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:7pt;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:7pt;font-weight:bold;color:#072146;' &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;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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;/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:bottom;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Spain (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:7pt;color:#000000;' &gt;195.447&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:7pt;color:#000000;' &gt;172.599&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:7pt;color:#000000;' &gt;12.827&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:7pt;color:#000000;' &gt;10.021&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:7pt;color:#000000;' &gt;(5.874)&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:7pt;color:#000000;' &gt;(713)&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:7pt;color:#000000;' &gt;(877)&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:7pt;color:#000000;' &gt;(4.284)&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:7pt;color:#000000;' &gt;189.574&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:7pt;color:#000000;' &gt;171.886&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:7pt;color:#000000;' &gt;11.951&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:7pt;color:#000000;' &gt;5.737&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:bottom;border-color:Black;min-width:108,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;733&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(658)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;(299)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(153)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:9pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(640)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(373)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(737)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:9pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Turkey (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;(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:7pt;color:#000000;' &gt;(1.479)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:108,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:108,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;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:7pt;color:#000000;' &gt;(1.084)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:9pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Others &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;783&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;763&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;755&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:108,75pt;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;Total (****)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;386.225&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;339.204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;30.673&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;16.348&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(12.199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2.070)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2.374)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(7.755)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;374.027&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;337.134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;28.299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;8.593&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:#808080;' &gt;Of which: individual&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;font-style:italic;color:#666666;' &gt;(3.333)&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:7pt;font-style:italic;color:#666666;' &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:7pt;font-style:italic;color:#666666;' &gt;(504)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;(2.826)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &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;font-style:italic;color:#808080;' &gt;Of which: collective&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;font-style:italic;color:#666666;' &gt;(8.866)&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:7pt;font-style:italic;color:#666666;' &gt;(2.067)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;(1.870)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;(4.929)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Creditriskexposurebystagesandgeographiclocation>
  <bbva:Sensitivityanalysisformainhypothesesturkey id="ID_51" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:365,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:365,25pt;' &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:41,25pt;' &gt;&lt;td style='width:103,5pt;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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&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: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:132pt;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;Impact of a decrease of 50 basis points (*)&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:middle;border-color:Black;min-width:103,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:129,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:129,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:132pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:132pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24,75pt;' &gt;&lt;td style='width:103,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:103,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:129,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:129,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:132pt;text-align:right;vertical-align:middle;border-color:Black;min-width:132pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sensitivityanalysisformainhypothesesturkey>
  <ifrs-full:DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory id="ID_52" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:449,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:449,25pt;' &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: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;font-weight:bold;color:#44546A;' &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;font-weight:bold;color:#44546A;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Computer software acquisition expense&lt;/font&gt;&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;1.202&lt;/font&gt;&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;1.598&lt;/font&gt;&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;1.605&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:245,25pt;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 intangible assets with an infinite useful life&lt;/font&gt;&lt;/td&gt;&lt;td 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;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:8pt;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:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:245,25pt;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 intangible assets with a definite useful life&lt;/font&gt;&lt;/td&gt;&lt;td 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;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:8pt;color:#000000;' &gt;401&lt;/font&gt;&lt;/td&gt;&lt;td 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;518&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &gt;&lt;td style='width:245,25pt;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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;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;1.435&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;2.010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;2.134&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory>
  <bbva:Otherintangibleassetschangesovertheperiod id="ID_53" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,75pt;' &gt;&lt;td colspan='11' rowspan='1' style='width:835,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:835,5pt;' &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:12,75pt;' &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:63,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;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;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:191,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:191,25pt;' &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 colspan='3' rowspan='1' style='width:191,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:191,25pt;' &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 colspan='3' rowspan='1' style='width:191,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:191,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;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: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;Notes&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:#072146;' &gt;Computer software&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:#072146;' &gt;Other intangible &lt;/font&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: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:#072146;' &gt;Total of intangible assets&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:#072146;' &gt;Computer software&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:#072146;' &gt;Other intangible &lt;/font&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: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:#072146;' &gt;Total of intangible assets&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:#072146;' &gt;Computer software&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:#072146;' &gt;Other intangible &lt;/font&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: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:#072146;' &gt;Total of intangible assets&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;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;Balance at the beginning&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;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;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;1.598&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;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;412&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;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;2.010&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;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;1.605&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;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;529&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;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;2.134&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;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;1.682&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;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;721&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;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;2.402&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;Additions&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;452&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;460&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;525&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;533&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;540&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;12&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;552&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;Amortization in the year&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;45&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;(448)&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;(59)&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;(507)&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;(447)&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;(63)&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;(510)&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;(436)&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;(65)&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;(500)&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;Amortization transfer to discontinued operations (*)&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;(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;(3)&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;(80)&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;(106)&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;(110)&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;(105)&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;(114)&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;Exchange differences and other &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;(38)&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;(91)&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;(129)&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;32&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;(58)&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;(74)&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;(49)&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;(123)&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;Impairment&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;(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;-&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;(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;(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;(12)&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;(81)&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;(83)&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;Decreases by companies held for sale (*)&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;(279)&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;(34)&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;(313)&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;-&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;-&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;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;1.202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;1.435&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;1.598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;412&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;2.010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;1.605&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;529&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;2.134&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Otherintangibleassetschangesovertheperiod>
  <bbva:Reconciliationoftaxationatthespanishcorporationtaxratetothetaxexpenserecordedfortheperiod id="ID_54" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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  (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;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-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;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:91,5pt;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-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;/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:11,5pt;' &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:#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;3.576&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;5.248&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;7.046&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;7.565&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:11,5pt;' &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 discontinued operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.672)&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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(648)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;881&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:20,5pt;' &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;1.073&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;1.920&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;/tr&gt;&lt;tr style='height:11,5pt;' &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;(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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;/tr&gt;&lt;tr style='height:11,5pt;' &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;(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;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;(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;/tr&gt;&lt;tr style='height:11,5pt;' &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;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;(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;/tr&gt;&lt;tr style='height:11,5pt;' &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;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;31%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;/tr&gt;&lt;tr style='height:11,5pt;' &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;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(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;/tr&gt;&lt;tr style='height:11,5pt;' &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;(73)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(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;/tr&gt;&lt;tr style='height:11,5pt;' &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;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;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;(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;17%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;20%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;93&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:11,5pt;' &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;(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;/tr&gt;&lt;tr style='height:11,5pt;' &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;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;/tr&gt;&lt;tr style='height:11,5pt;' &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;Other effects (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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:#004481;' &gt;Income tax&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-weight:bold;color:#004481;' &gt;1.516&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-weight:bold;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;font-weight:bold;color:#004481;' &gt;2.053&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-weight:bold;color:#004481;' &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-weight:bold;color:#004481;' &gt;2.219&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-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;1.459&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-style:italic;color:#000000;' &gt;1.943&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;2.042&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:11,5pt;' &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:#666666;' &gt;Of which: Discontinued operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:#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;font-style:italic;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;font-style:italic;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-style:italic;color:#000000;' &gt;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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Reconciliationoftaxationatthespanishcorporationtaxratetothetaxexpenserecordedfortheperiod>
  <bbva:Effectivetaxrateexplanatory id="ID_55" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:315pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:315pt;' &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:25pt;' &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:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:12pt;' &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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;font-weight:bold;color:#004481;' &gt;Income from:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:12pt;' &gt;&lt;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:11,5pt;' &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:8pt;color:#000000;' &gt;Consolidated tax group in Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:12pt;' &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;259&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;/tr&gt;&lt;tr style='height:11,5pt;' &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:8pt;color:#000000;' &gt;Other Spanish entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;text-align:right;vertical-align:middle;border-color:Black;min-width:12pt;' &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;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;/tr&gt;&lt;tr style='height:11,5pt;' &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:8pt;color:#000000;' &gt;Foreign entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;text-align:right;vertical-align:middle;border-color:Black;min-width:12pt;' &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;4.982&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;7.757&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;6.050&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:145,5pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Gains (losses) before taxes from continuing operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:12pt;' &gt;&lt;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;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;5.248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;7.046&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;7.565&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:145,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:145,5pt;' &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:12pt;text-align:right;vertical-align:middle;border-color:Black;min-width:12pt;' &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;1.459&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;1.943&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;2.042&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:145,5pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Effective tax rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:12pt;' &gt;&lt;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;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;27,8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;27,6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;27,0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Effectivetaxrateexplanatory>
  <bbva:Taxrecognizedintotalequity id="ID_56" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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:25pt;' &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-weight:bold;color:#0A5FB4;' &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-weight:bold;color:#0A5FB4;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;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: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;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:11,5pt;' &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: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;(230)&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;/tr&gt;&lt;tr style='height:11,5pt;' &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:#000000;' &gt;Equity instruments&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;(43)&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;(40)&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;(56)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:287,25pt;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;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;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;(273)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:287,25pt;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;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;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;(273)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Taxrecognizedintotalequity>
  <bbva:Tableoftaxassetsandliabiltiiesexplanatory id="ID_57" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:366pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:366pt;' &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:25pt;' &gt;&lt;td style='width:154,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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: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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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:11,5pt;' &gt;&lt;td style='width:154,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;1.199&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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;15.327&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: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;439&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;1.292&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;1.683&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;1.069&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;1.045&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;1.292&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;9.361&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;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;1.483&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;1.432&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;1.480&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:154,5pt;' &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:70,5pt;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;16.526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70,5pt;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;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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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-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-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-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:11,5pt;' &gt;&lt;td style='width:154,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;545&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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;1.809&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;908&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;901&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;914&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;910&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:154,5pt;' &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:70,5pt;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;2.355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70,5pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoftaxassetsandliabiltiiesexplanatory>
  <bbva:Deferredtaxassetsandliabilities id="ID_58" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:492pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:492pt;' &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;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:45,75pt;text-align: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 colspan='2' rowspan='1' style='width:91,5pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:91,5pt;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-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;/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: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-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;Deferred 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;font-weight:bold;color:#072146;' &gt;Deferred 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;font-weight:bold;color:#072146;' &gt;Deferred 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;font-weight:bold;color:#072146;' &gt;Deferred 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;font-weight:bold;color:#072146;' &gt;Deferred 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;font-weight:bold;color:#072146;' &gt;Deferred liabilities&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:171,75pt;border-top-style:solid;border-top-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:45,75pt;border-top-style:solid;border-top-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;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;15.318&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;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;1.928&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;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;15.316&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;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;2.046&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;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;14.725&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;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;2.184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;Pensions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;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:#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;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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;Financials instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(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;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(52)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(291)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:11,5pt;' &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;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(247)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;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:#000000;' &gt;153&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;Guaranteed tax assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;td style='width:45,75pt;text-align: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;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:11,5pt;' &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;Tax 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:#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;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:#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;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:11,5pt;' &gt;&lt;td style='width:171,75pt;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:45,75pt;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;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;15.327&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;1.809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;15.318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;1.928&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;15.316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;2.046&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Deferredtaxassetsandliabilities>
  <bbva:Securedtaxassets id="ID_59" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:498,75pt;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;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-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:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &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-bottom-style:solid;border-bottom-width:1;text-align:right;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;Pensions&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;&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;1.924&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;1.924&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;1.924&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;Loss allowances&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;7.437&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;7.439&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;7.439&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:234,75pt;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:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9.361&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &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:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Securedtaxassets>
  <bbva:Tableofotherassetsandliabilitiesexplanatory id="ID_60" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:305,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:305,25pt;' &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:21pt;' &gt;&lt;td style='width:110,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &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: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;font-weight:bold;color:#44546A;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;border-top-style:solid;border-top-width:1;text-align:left;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;ASSETS&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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Inventories&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;572&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;581&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;635&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &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: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;160&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;138&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;249&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accruals&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;756&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;804&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;702&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &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: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;1.025&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;2.277&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;3.886&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:110,25pt;' &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:48,75pt;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;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;2.513&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;3.800&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;5.472&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;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;LIABILITIES&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-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &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: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;75&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;39&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;39&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accruals&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;1.584&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;2.456&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;2.558&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &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: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;1.144&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;1.247&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;1.704&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:110,25pt;' &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:48,75pt;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;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;2.802&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;3.742&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;4.301&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofotherassetsandliabilitiesexplanatory>
  <bbva:Tableoffinancialliabilitiesatamortizedcostexplanatory id="ID_61" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:402,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:402,75pt;' &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: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: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;font-weight:bold;color:#072146;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;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: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;Deposits&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;415.467&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;438.919&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;435.229&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;color:#000000;' &gt;Deposits from central banks&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;45.177&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;25.950&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;27.281&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;color:#666666;' &gt;Demand deposits&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;&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;163&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;23&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;20&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;color:#666666;' &gt;Time deposits and other&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;&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;38.274&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;25.101&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;26.885&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,75pt;' &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;color:#666666;' &gt;Repurchase agreements (*)&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;&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;6.740&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;826&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;375&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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;Deposits from credit institutions&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;27.629&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;28.751&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;31.978&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;color:#666666;' &gt;Demand deposits&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;&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;7.196&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;7.161&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;8.370&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;color:#666666;' &gt;Time deposits and other &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;&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;16.079&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:#666666;' &gt;18.896&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;19.015&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;color:#666666;' &gt;Repurchase agreements (*)&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;&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;4.354&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;2.693&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;4.593&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;color:#000000;' &gt;Customer deposits (**)&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;342.661&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;384.219&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;375.970&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;color:#666666;' &gt;Demand deposits&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;&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;266.250&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:#666666;' &gt;280.391&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;260.573&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;color:#666666;' &gt;Time deposits and other &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;&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;75.666&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;103.293&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;114.188&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;color:#666666;' &gt;Repurchase agreements (*)&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;&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;746&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;535&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;1.209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Debt certificates&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;61.780&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;63.963&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;61.112&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;color:#000000;' &gt;Other financial liabilities&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;13.358&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;13.758&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;12.844&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &gt;&lt;td style='width:171,75pt;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:57,75pt;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;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;490.606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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;516.641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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;509.185&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoffinancialliabilitiesatamortizedcostexplanatory>
  <bbva:Disclosureofdepositsfrombanksbygeographicalareaandinstrumentexplanatory id="ID_62" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:466,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:466,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#5AC4C4;' &gt;Deposits from credit institutions. December 2020 (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-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: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;font-weight:bold;color:#072146;' &gt;Demand deposits &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;font-weight:bold;color:#072146;' &gt;Time deposits and other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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: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: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;345&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;1.405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.751&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: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;689&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;672&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.549&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: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;8&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;580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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: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: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;557&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;1.484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.041&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: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;2.842&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;4.531&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.070&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11.444&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 the world&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;2.755&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;7.406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.228&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;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:72pt;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;7.196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80,25pt;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;16.079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4.354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;27.629&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofdepositsfrombanksbygeographicalareaandinstrumentexplanatory>
  <bbva:Disclosureofdepositsfromcustomersbygeographicalareaandinstrumentexplanatory id="ID_63" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:475,5pt;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:#5AC4C4;' &gt;Customer deposits. December 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40,5pt;' &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:87,75pt;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;Demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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;Time deposits and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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;Total&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:middle;border-color:Black;min-width:124,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;168.690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;20.065&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;188.757&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:middle;border-color:Black;min-width:124,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43.768&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.514&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54.398&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:middle;border-color:Black;min-width:124,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.906&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34.621&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:middle;border-color:Black;min-width:124,5pt;' &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:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25.730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11.259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36.989&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:middle;border-color:Black;min-width:124,5pt;' &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:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.435&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21.427&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:middle;border-color:Black;min-width:124,5pt;' &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:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.720&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.748&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.468&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:124,5pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;266.250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;75.666&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;746&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;342.661&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofdepositsfromcustomersbygeographicalareaandinstrumentexplanatory>
  <bbva:Disclosureofdebtsecuritiesissuedexplanatory id="ID_64" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:419,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:419,25pt;' &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:21pt;' &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-weight:bold;color:#0A5FB4;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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:#004481;' &gt;In 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:#004481;' &gt;42.462&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;40.185&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;37.436&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Promissory bills and notes&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;860&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;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;267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Non-convertible bonds and debentures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14.538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.638&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Covered bonds (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.274&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.542&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.809&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Hybrid 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;355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;814&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Securitization bonds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.630&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.331&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.566&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.968&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.136&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Convertible perpetual 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:#666666;' &gt;4.500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.490&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Non-convertible 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:#666666;' &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:#666666;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;107&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Other non-convertible subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;3.907&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;2.885&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;3.540&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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-weight:bold;color:#004481;' &gt;In foreign currencies&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-weight:bold;color:#004481;' &gt;19.318&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-weight:bold;color:#004481;' &gt;23.778&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-weight:bold;color:#004481;' &gt;23.676&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Promissory bills and notes&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;1.024&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;1.210&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;3.237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Non-convertible bonds and debentures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Covered bonds (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;217&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;569&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Hybrid 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;455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.156&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.455&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Securitization bonds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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:13pt;' &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;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;780&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:13pt;' &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;Subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.911&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.666&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.499&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Convertible perpetual 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:#666666;' &gt;1.633&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;1.782&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:#666666;' &gt;873&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Non- convertible 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:#666666;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;74&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Other non-convertible subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;6.243&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;7.808&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;7.552&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:234,75pt;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;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;61.780&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;63.963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;61.112&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofdebtsecuritiesissuedexplanatory>
  <bbva:Tableofsubordinatedliabilitiesatamortizedcost id="ID_65" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:461,25pt;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:8pt;color:#02A5A5;' &gt;Memorandum item: Subordinated liabilities at amortized cost &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:right;vertical-align:middle;border-color:Black;min-width:276,75pt;' &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: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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;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;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;12&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;/tr&gt;&lt;tr style='height:13pt;' &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;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;16.476&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&lt;tr style='height:13pt;' &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;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;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&lt;tr style='height:13pt;' &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;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;6.133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&lt;tr style='height:13pt;' &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;Other non-convertible subordinated liabilities (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:276,75pt;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:61,5pt;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;16.488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofsubordinatedliabilitiesatamortizedcost>
  <bbva:Creditriskexposurebystagesandcounterparty id="ID_66" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:584,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:584,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:161,25pt;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='4' rowspan='1' style='width:141pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:141pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Gross exposure&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:141pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:141pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Accumulated allowances&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:141pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:141pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Net amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:161,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;&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:8pt;font-weight:bold;color:#004481;' &gt;Total&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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;color:#004481;' &gt;Total&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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;color:#004481;' &gt;Total&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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Public administrations&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:8pt;color:#000000;' &gt;19.439&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:8pt;color:#000000;' &gt;19.163&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:8pt;color:#000000;' &gt;200&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:8pt;color:#000000;' &gt;76&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:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:8pt;color:#000000;' &gt;(9)&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:8pt;color:#000000;' &gt;(25)&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:8pt;color:#000000;' &gt;19.391&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:8pt;color:#000000;' &gt;19.149&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:8pt;color:#000000;' &gt;191&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:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.747&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.722&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width: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-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;142.547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;119.891&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6.123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(774)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.110)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4.239)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;136.424&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;119.117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14.069&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.238&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Individuals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;151.410&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;129.196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5.895)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.192)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.161)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3.542)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145.515&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;128.005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.946&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.564&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &gt;&lt;td style='width:161,25pt;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;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;323.252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;277.998&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30.581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;14.672&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(12.105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(2.005)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(2.287)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(7.813)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;311.147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;275.993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28.294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6.860&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11,25pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:579pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:579pt;' &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:11,25pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:bottom;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 colspan='4' rowspan='1' style='width:141pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:141pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Gross exposure&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:141pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:141pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Accumulated allowances&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:141pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:141pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Net amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&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:8pt;font-weight:bold;color:#004481;' &gt;Total&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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;color:#004481;' &gt;Total&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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;color:#004481;' &gt;Total&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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 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:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Public administrations&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:8pt;color:#000000;' &gt;28.281&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:8pt;color:#000000;' &gt;27.511&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:8pt;color:#000000;' &gt;682&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:8pt;color:#000000;' &gt;88&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:8pt;color:#000000;' &gt;(59)&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:8pt;color:#000000;' &gt;(15)&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:8pt;color:#000000;' &gt;(22)&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:8pt;color:#000000;' &gt;(21)&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:8pt;color:#000000;' &gt;28.222&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:8pt;color:#000000;' &gt;27.496&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:8pt;color:#000000;' &gt;660&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:8pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11.239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11.085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11.207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11.066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;173.254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;148.768&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6.465)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(811)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(904)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4.750)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;166.789&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;147.957&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.718&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Individuals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;181.989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;158.085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5.847)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.283)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.252)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3.312)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;176.142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;156.801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.069&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:156pt;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;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;394.763&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;345.449&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;33.360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15.954&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &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:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &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:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &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:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &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:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &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:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;343.320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;31.179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:11,25pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:591pt;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;December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:150pt;' &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:147pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:147pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Gross exposure&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:147pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:147pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Accumulated allowances&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:147pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:147pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Net amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Public administrations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;764&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(84)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;739&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &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:11,25pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;291&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;169.764&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145.875&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6.260)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(730)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.190)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4.341)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;163.503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145.145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14.327&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.031&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Individuals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;178.339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;156.400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14.102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.838&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5.833)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.305)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.155)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3.372)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;172.506&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;155.094&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.946&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.466&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:Disclosurenoncurrentassetsanddisposalgroupsclassifiedasheldforsalebreakdownbyitemsexplanatory id="ID_67" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:10,5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:452,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:452,25pt;' &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:18,75pt;' &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;font-weight:bold;color:#44546A;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Foreclosures and recoveries (*)&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;1.398&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;1.647&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;2.210&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Assets from tangible assets&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;480&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;310&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;433&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Companies held for sale (**)&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;84.792&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;1.716&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;29&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Accrued amortization (***)&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;(89)&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;(51)&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;(44)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Impairment losses &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;(594)&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;(543)&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;(628)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:261pt;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 non-current assets and disposal groups classified as held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;85.987&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;3.079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;2.001&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Companies held for sale (**)&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;75.446&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;1.554&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;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:261pt;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 liabilities included in disposal groups classified as held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;75.446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;1.554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurenoncurrentassetsanddisposalgroupsclassifiedasheldforsalebreakdownbyitemsexplanatory>
  <bbva:Loansandadvancesbreakdownbycounterparty id="ID_68" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:755,25pt;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 2020 (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-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-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-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-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-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-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-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-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-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: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;border-top-style:solid;border-top-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;-&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;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;7&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;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;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;502&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;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1.798&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;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;528&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;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2.835&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;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3.021&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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='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;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;1.485&lt;/font&gt;&lt;/td&gt;&lt;td style='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;11.605&lt;/font&gt;&lt;/td&gt;&lt;td style='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;13.093&lt;/font&gt;&lt;/td&gt;&lt;td style='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;14.220&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;898&lt;/font&gt;&lt;/td&gt;&lt;td style='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;317&lt;/font&gt;&lt;/td&gt;&lt;td style='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;14.262&lt;/font&gt;&lt;/td&gt;&lt;td style='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;67&lt;/font&gt;&lt;/td&gt;&lt;td style='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;15.544&lt;/font&gt;&lt;/td&gt;&lt;td style='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;15.796&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;197&lt;/font&gt;&lt;/td&gt;&lt;td style='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;7.125&lt;/font&gt;&lt;/td&gt;&lt;td style='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;322&lt;/font&gt;&lt;/td&gt;&lt;td style='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;7.650&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;8.013&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;472&lt;/font&gt;&lt;/td&gt;&lt;td style='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;1.914&lt;/font&gt;&lt;/td&gt;&lt;td style='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;71&lt;/font&gt;&lt;/td&gt;&lt;td style='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;2.457&lt;/font&gt;&lt;/td&gt;&lt;td style='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;2.463&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;5.690&lt;/font&gt;&lt;/td&gt;&lt;td style='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;18.111&lt;/font&gt;&lt;/td&gt;&lt;td style='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;3.972&lt;/font&gt;&lt;/td&gt;&lt;td style='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;5.799&lt;/font&gt;&lt;/td&gt;&lt;td style='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;111.141&lt;/font&gt;&lt;/td&gt;&lt;td style='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;132.603&lt;/font&gt;&lt;/td&gt;&lt;td style='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;277.317&lt;/font&gt;&lt;/td&gt;&lt;td style='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;287.467&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;Advances that are not 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;48&lt;/font&gt;&lt;/td&gt;&lt;td style='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;260&lt;/font&gt;&lt;/td&gt;&lt;td style='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;8.721&lt;/font&gt;&lt;/td&gt;&lt;td style='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;3.191&lt;/font&gt;&lt;/td&gt;&lt;td style='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;1.084&lt;/font&gt;&lt;/td&gt;&lt;td style='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;473&lt;/font&gt;&lt;/td&gt;&lt;td style='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;13.777&lt;/font&gt;&lt;/td&gt;&lt;td style='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;13.833&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;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;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;6.209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;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;19.475&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;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;14.608&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;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;9.817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;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;136.966&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;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;145.598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;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;332.672&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;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;344.813&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 secured 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;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: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;372&lt;/font&gt;&lt;/td&gt;&lt;td style='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;209&lt;/font&gt;&lt;/td&gt;&lt;td style='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;22.091&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;font-style:italic;color:#666666;' &gt;94.147&lt;/font&gt;&lt;/td&gt;&lt;td style='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;116.819&lt;/font&gt;&lt;/td&gt;&lt;td style='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;120.194&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;472&lt;/font&gt;&lt;/td&gt;&lt;td style='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;952&lt;/font&gt;&lt;/td&gt;&lt;td style='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;317&lt;/font&gt;&lt;/td&gt;&lt;td style='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;3.763&lt;/font&gt;&lt;/td&gt;&lt;td style='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;2.059&lt;/font&gt;&lt;/td&gt;&lt;td style='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;7.562&lt;/font&gt;&lt;/td&gt;&lt;td style='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;7.776&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:16,5pt;' &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: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;39.799&lt;/font&gt;&lt;/td&gt;&lt;td style='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;39.799&lt;/font&gt;&lt;/td&gt;&lt;td style='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;43.037&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16,5pt;' &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: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;94.098&lt;/font&gt;&lt;/td&gt;&lt;td style='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;94.098&lt;/font&gt;&lt;/td&gt;&lt;td style='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;95.751&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:16,5pt;' &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: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;10.721&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;10.721&lt;/font&gt;&lt;/td&gt;&lt;td style='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;11.032&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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,75pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:765,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:765,75pt;' &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:24,75pt;' &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:5pt;font-weight:bold;color:#0066CC;' &gt;&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;font-weight:bold;color:#072146;' &gt;Central banks&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;font-weight:bold;color:#072146;' &gt;General governments&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;font-weight:bold;color:#072146;' &gt;Credit institutions&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;font-weight:bold;color:#072146;' &gt;Other financial corporations&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;font-weight:bold;color:#072146;' &gt;Non-financial corporations&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;font-weight:bold;color:#072146;' &gt;Households&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;font-weight:bold;color:#072146;' &gt;Total&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;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: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:5pt;color:#000000;' &gt;On demand and short notice&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;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;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;border-top-style:solid;border-top-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;-&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;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;border-top-style:solid;border-top-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;2.328&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;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;border-top-style:solid;border-top-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;3.050&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;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:213,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213,75pt;' &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:213,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213,75pt;' &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:213,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213,75pt;' &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:213,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213,75pt;' &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:213,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213,75pt;' &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:213,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213,75pt;' &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;text-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;text-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;text-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;text-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;text-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;text-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;text-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;text-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:213,75pt;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:5pt;font-weight:bold;color:#FFFFFF;' &gt;LOANS AND ADVANCES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;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;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;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;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;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;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;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;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:213,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213,75pt;' &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;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:213,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213,75pt;' &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;1.067&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;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;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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;139.317&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: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;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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;49.266&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: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:213,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213,75pt;' &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;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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;49.474&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: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;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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;111.636&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: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:213,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213,75pt;' &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;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;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;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;font-style:italic;color:#666666;' &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;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-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-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-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-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-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-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-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-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-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: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;border-top-style:solid;border-top-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;-&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;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;border-top-style:solid;border-top-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;-&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;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;border-top-style:solid;border-top-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;2.833&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;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;border-top-style:solid;border-top-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;3.641&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;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;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;text-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;text-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;text-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;text-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;text-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;text-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;text-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;text-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;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;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;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;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;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;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;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;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;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;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;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: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;</bbva:Loansandadvancesbreakdownbycounterparty>
  <bbva:Guaranteedfinancialinstrumentsbasedonifrs9 id="ID_69" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:564,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:564,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2020 (Millions of Euros)&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:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' 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: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:292,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:292,5pt;' &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:16,5pt;' &gt;&lt;td style='width:213,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:213,75pt;' &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: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:7,5pt;font-weight:bold;color:#072146;' &gt;Residential properties&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:7,5pt;font-weight:bold;color:#072146;' &gt;Commercial properties&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:7,5pt;font-weight:bold;color:#072146;' &gt;Cash&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:7,5pt;font-weight:bold;color:#072146;' &gt;Others&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:7,5pt;font-weight:bold;color:#072146;' &gt;Financial&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27,75pt;' &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;Impaired loans and advances at amortized cost&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;14.678&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;2.717&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;789&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;18&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;52&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;575&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;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:58,5pt;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;14.678&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;2.717&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;789&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;575&lt;/font&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:533,25pt;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;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' 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: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:292,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:292,5pt;' &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: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:7,5pt;font-weight:bold;color:#072146;' &gt;Residential properties&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:7,5pt;font-weight:bold;color:#072146;' &gt;Commercial properties&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:7,5pt;font-weight:bold;color:#072146;' &gt;Cash&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:7,5pt;font-weight:bold;color:#072146;' &gt;Others&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: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;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;Impaired loans and advances at amortized cost&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;15.959&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;3.396&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;939&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;35&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;221&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;542&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;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:58,5pt;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;15.959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;3.396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;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:533,25pt;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;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;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:58,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:58,5pt;' &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:292,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:292,5pt;' &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: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:7,5pt;font-weight:bold;color:#072146;' &gt;Residential properties&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:7,5pt;font-weight:bold;color:#072146;' &gt;Commercial properties&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:7,5pt;font-weight:bold;color:#072146;' &gt;Cash&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:7,5pt;font-weight:bold;color:#072146;' &gt;Others&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: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;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;Impaired loans and advances at amortized cost&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;16.359&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;3.484&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;1.255&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;13&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;317&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;502&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;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:58,5pt;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;16.359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;3.484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;1.255&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58,5pt;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;502&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Guaranteedfinancialinstrumentsbasedonifrs9>
  <bbva:Disclosurenoncurrentassetsanddisposalgroupsclassifiedasheldforsalechangesintheyearexplanatory id="ID_70" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:615pt;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;Non-current assets and disposal groups classified as held for sale. Changes in the year 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25,5pt;' &gt;&lt;td style='width:229,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:229,5pt;' &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:center;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-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Foreclosed assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;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;Property, Plant and Equipment (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;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:#072146;' &gt;Companies held for sale (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;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;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Cost (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &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: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:#000000;' &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:#000000;' &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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:229,5pt;border-top-style:solid;border-top-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;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;border-top-style:solid;border-top-width:1;text-align:center;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;text-align:center;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;1.648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;258&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;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;1.716&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;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;3.622&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&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;83.266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83.551&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(288)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(45)&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;(190)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(523)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Transfers, other movements and exchange differences (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(228)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;180&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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(48)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Disposals by companies held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:center;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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;(21)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:229,5pt;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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;text-align:center;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;1.398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:center;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;84.792&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;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;86.581&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:229,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:229,5pt;' &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:69,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Impairment (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &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:90pt;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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;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:#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;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:229,5pt;border-top-style:solid;border-top-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;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;border-top-style:solid;border-top-width:1;text-align:center;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;text-align:center;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;411&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;132&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;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;-&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;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;543&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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;103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(69)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60&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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;18&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Disposals by companies held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:229,5pt;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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;text-align:center;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;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:center;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;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;594&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:229,5pt;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;Balance at the end of net carrying value (1)-(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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;text-align:center;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;1.012&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;183&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:center;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;84.792&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;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;85.987&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurenoncurrentassetsanddisposalgroupsclassifiedasheldforsalechangesintheyearexplanatory>
  <bbva:Financialguaranteereceived id="ID_71" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:456pt;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;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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-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;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;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;116.900 &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-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;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;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;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;11.296 &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;font-style:italic;color:#666666;' &gt;14.623 &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;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;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;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;3.577 &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;font-style:italic;color:#666666;' &gt;4.590 &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;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;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;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;47.012 &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;font-weight:bold;color:#004481;' &gt;35.464 &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;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;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;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;4.045 &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;font-style:italic;color:#666666;' &gt;3.306 &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;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;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;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;575 &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;font-style:italic;color:#666666;' &gt;542 &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;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;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;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;163.912 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;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;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:Bbvaabridgedratingscale id="ID_72" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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-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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#003366;' &gt;rating&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Internal &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#003366;' &gt;rating&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:261pt;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;Probability of default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;(basis points)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25pt;' &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:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;255&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;335&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;785&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:Probabilityofdefault id="ID_73" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:7pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:687,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:687,75pt;' &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;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-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:196,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:196,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:196,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:196,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:196,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;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: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;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:7pt;' &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;4,0&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;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:7pt;' &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;10,2&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;0,1&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;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:7pt;' &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;7,7&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;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:7pt;' &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;26,8&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;0,5&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;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:7pt;' &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;24,0&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;2,3&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;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:7pt;' &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;15,1&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;3,4&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;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:7pt;' &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;1,5&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;1,2&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;1,4&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:7pt;' &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;&amp;gt; 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;0,6&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;2,5&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;0,4&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;1,5&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;0,2&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;1,2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7pt;' &gt;&lt;td style='width:98,25pt;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;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;89,9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98,25pt;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;10,1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98,25pt;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;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;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;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:Loansandadvancesimpairedandaccumulatedimpairment id="ID_74" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:609pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:609pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2020 (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-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:87pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6.229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;19.439&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;14.591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9.856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;142.547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;7.477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(6.123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;5,2%&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:87pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.438&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(108)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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;Mining and quarrying&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,1%&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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33.771&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.129)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,4%&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;Electricity, gas, steam and air conditioning supply&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(509)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,4%&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;Water supply&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;899&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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;Construction&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.397&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(722)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,9%&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;Wholesale and retail trade&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24.594&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.223)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(368)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(294)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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 communications&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(60)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,3%&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;Financial and insurance activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.298&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(132)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(494)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.886&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(124)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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: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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.955&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(192)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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;Public administration and defense; compulsory social security&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(43)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,1%&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;Human health services and social work activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.812&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.131&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(65)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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: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:87pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.871&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(523)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height: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;font-weight:bold;color:#004481;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;151.410&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;7.106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(5.895)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:87pt;' &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;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:87pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;344.072&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;14.678&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(12.141)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,3%&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:12,75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:582pt;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 2019 (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-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-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-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-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-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;4.285&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;(9)&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;28.281&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;88&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;(60)&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;0,3%&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: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;13.664&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;(15)&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;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;11.239&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;17&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;(31)&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;0,2%&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: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;173.254&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;8.467&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;(6.465)&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;3.758&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;154&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;(124)&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;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: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;4.669&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;100&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;(86)&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;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;39.517&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;1.711&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;(1.242)&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;4,3%&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: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;12.305&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;684&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;(575)&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;5,6%&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: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;900&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;14&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;(16)&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;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;10.945&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;1.377&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;(876)&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;12,6%&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: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;27.467&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;1.799&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;(1.448)&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;6,6%&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: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;9.638&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;507&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;(392)&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;5,3%&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: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;8.703&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;279&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;(203)&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;3,2%&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: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;6.316&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;95&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;(65)&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;1,5%&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: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;6.864&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;191&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;(140)&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;2,8%&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: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;19.435&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;782&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;(527)&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;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;4.375&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;167&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;(140)&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;3,8%&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: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;3.415&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;118&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;(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;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: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;282&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;(6)&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;1,7%&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: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;903&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;(38)&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: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;4.696&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;66&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;(55)&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;1.396&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;47&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;(39)&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: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;7.671&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;331&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;(360)&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;4,3%&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;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;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;181.989&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;font-weight:bold;color:#004481;' &gt;7.381&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;font-weight:bold;color:#004481;' &gt;(5.847)&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;font-weight:bold;color:#004481;' &gt;4,1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:261pt;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;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;412.711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80,25pt;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;15.959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80,25pt;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;(12.427)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80,25pt;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;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:639pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:639pt;' &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:45pt;' &gt;&lt;td style='width:261pt;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:94,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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: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:94,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(107)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.134)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(446)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.007)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.259)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(374)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(204)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(72)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(128)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;834&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(624)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(171)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.162&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(125)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;912&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(63)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width: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:94,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(382)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height: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;font-weight:bold;color:#004481;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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;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:94,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16.359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:94,5pt;' &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:94,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Loansandadvancesimpairedandaccumulatedimpairment>
  <bbva:Changesinimpairedfinancialassetsandcontingentrisks id="ID_75" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:494,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:494,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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-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:#0066CC;' &gt;&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:8pt;font-weight:bold;color:#072146;' &gt;2020&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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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: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;Balance at the beginning &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:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16.770&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:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17.134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-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:8pt;font-weight:bold;color:#FFFFFF;' &gt;20.590&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.533&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.857&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.792&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Decreases (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5.024)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5.874)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6.909)&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:8pt;font-weight:bold;color:#004481;' &gt;Net additions&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:8pt;font-weight:bold;color:#004481;' &gt;4.509&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:8pt;font-weight:bold;color:#004481;' &gt;3.983&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:8pt;font-weight:bold;color:#004481;' &gt;2.883&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:8pt;color:#000000;' &gt;Amounts written-off&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;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3.603)&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;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3.803)&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;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5.076)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Exchange differences and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(968)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(544)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.264)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &gt;&lt;td style='width:287,25pt;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;Balance at the end &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16.708&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16.770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17.134&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Changesinimpairedfinancialassetsandcontingentrisks>
  <bbva:Incomestatementfromdisposablegroups id="ID_76" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:497,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:497,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#5AC4C4;' &gt;CONDENSED INCOME STATEMENTS (Millions of Euros)&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:right;vertical-align:middle;border-color:Black;min-width:266,25pt;' &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: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:7pt;font-weight:bold;color:#072146;' &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:7pt;font-weight:bold;color:#072146;' &gt;2020&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:7pt;font-weight:bold;color:#072146;' &gt;2019&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: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: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:7pt;color:#000000;' &gt;Interest and other income&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:7pt;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:7pt;color:#000000;' &gt;2.638&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:7pt;color:#000000;' &gt;3.221&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:7pt;color:#000000;' &gt;2.797&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:7pt;color:#000000;' &gt;Interest 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:7pt;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:7pt;color:#000000;' &gt;(429)&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:7pt;color:#000000;' &gt;(887)&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:7pt;color:#000000;' &gt;(570)&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:7pt;font-weight:bold;color:#004481;' &gt;NET INTEREST INCOME&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;2.209&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:7pt;font-weight:bold;color:#004481;' &gt;2.335&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:7pt;font-weight:bold;color:#004481;' &gt;2.227&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:7pt;color:#000000;' &gt;Dividend income &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:7pt;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:7pt;color:#000000;' &gt;4&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:7pt;color:#000000;' &gt;10&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:7pt;color:#000000;' &gt;13&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:7pt;color:#000000;' &gt;Fee and commission income &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:7pt;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:7pt;color:#000000;' &gt;677&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:7pt;color:#000000;' &gt;736&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:7pt;color:#000000;' &gt;670&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:7pt;color:#000000;' &gt;Fee and commission 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:7pt;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:7pt;color:#000000;' &gt;(183)&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:7pt;color:#000000;' &gt;(205)&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:7pt;color:#000000;' &gt;(194)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;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:57,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;19&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:7pt;color:#000000;' &gt;54&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:7pt;color:#000000;' &gt;25&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:7pt;color:#000000;' &gt;Gains (losses) on financial assets and liabilities held for trading, net&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:7pt;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:7pt;color:#000000;' &gt;90&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:7pt;color:#000000;' &gt;30&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:7pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;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:57,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;8&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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;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:57,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;3&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:7pt;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:7pt;color:#000000;' &gt;Gains (losses) from hedge accounting, net &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:7pt;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:7pt;color:#000000;' &gt;4&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:7pt;color:#000000;' &gt;4&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:7pt;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:7pt;color:#000000;' &gt;Exchange differences, net&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:7pt;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:7pt;color:#000000;' &gt;19&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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;(22)&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:7pt;color:#000000;' &gt;Other operating income &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:7pt;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:7pt;color:#000000;' &gt;19&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:7pt;color:#000000;' &gt;32&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:7pt;color:#000000;' &gt;20&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:7pt;color:#000000;' &gt;Other operating 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:7pt;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:7pt;color:#000000;' &gt;(63)&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:7pt;color:#000000;' &gt;(64)&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:7pt;color:#000000;' &gt;(79)&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:7pt;font-weight:bold;color:#004481;' &gt;GROSS INCOME&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;2.808&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:7pt;font-weight:bold;color:#004481;' &gt;2.941&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:7pt;font-weight:bold;color:#004481;' &gt;2.731&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:7pt;color:#000000;' &gt;Administration costs&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:7pt;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:7pt;color:#000000;' &gt;(1.462)&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:7pt;color:#000000;' &gt;(1.534)&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:7pt;color:#000000;' &gt;(1.474)&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:7pt;color:#000000;' &gt;Depreciation and amortization&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:7pt;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:7pt;color:#000000;' &gt;(205)&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:7pt;color:#000000;' &gt;(214)&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:7pt;color:#000000;' &gt;(174)&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:7pt;color:#000000;' &gt;Provisions or reversal of provisions&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:7pt;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:7pt;color:#000000;' &gt;2&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:7pt;color:#000000;' &gt;(3)&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:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;color:#000000;' &gt;Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification&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:7pt;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:7pt;color:#000000;' &gt;(729)&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:7pt;color:#000000;' &gt;(521)&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:7pt;color:#000000;' &gt;(221)&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:7pt;font-weight:bold;color:#004481;' &gt;NET OPERATING INCOME&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;413&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:7pt;font-weight:bold;color:#004481;' &gt;670&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:7pt;font-weight:bold;color:#004481;' &gt;884&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;color:#000000;' &gt;Impairment or reversal of impairment on non-financial assets&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:7pt;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:7pt;color:#000000;' &gt;(2.084)&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:7pt;color:#000000;' &gt;(1.318)&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:7pt;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:7pt;color:#000000;' &gt;Gains (losses) on derecognition of non-financial assets and subsidiaries, net&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:7pt;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:7pt;color:#000000;' &gt;(3)&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:7pt;color:#000000;' &gt;2&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:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;color:#000000;' &gt;Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations  &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:7pt;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:7pt;color:#000000;' &gt;2&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:7pt;color:#000000;' &gt;(2)&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:7pt;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:7pt;font-weight:bold;color:#004481;' &gt;PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;(1.671)&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:7pt;font-weight:bold;color:#004481;' &gt;(648)&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:7pt;font-weight:bold;color:#004481;' &gt;881&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:7pt;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: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:7pt;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;text-align:right;vertical-align:middle;border-color:Black;min-width:57,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(57)&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:7pt;color:#000000;' &gt;(110)&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:7pt;color:#000000;' &gt;(177)&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:7pt;font-weight:bold;color:#004481;' &gt;PROFIT (LOSS) AFTER TAX FROM CONTINUING OPERATIONS&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;(1.729)&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:7pt;font-weight:bold;color:#004481;' &gt;(758)&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:7pt;font-weight:bold;color:#004481;' &gt;704&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:266,25pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;PROFIT (LOSS) FOR THE PERIOD&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(1.729)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;704&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;background-color:#5AC4C4;border-color:Black;min-width:266,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;ATTRIBUTABLE TO OWNERS OF THE PARENT&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(1.729)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;704&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Incomestatementfromdisposablegroups>
  <bbva:Changesinimpairedfinancialassetswrittenoff id="ID_77" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;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;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;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;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;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;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;Companies held for sale (*)&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;(4.646)&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;-&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;3.440&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;/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;(2.715)&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;/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;(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: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;/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;(339)&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;/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;(479)&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;/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;(1.223)&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;/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;(607)&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;/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;(60)&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;/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;Net exchange differences&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;(323)&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;230&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;250&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,75pt;' &gt;&lt;td style='width:219pt;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;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;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;22.001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Changesinimpairedfinancialassetswrittenoff>
  <bbva:Statementofcashflowsfromdisposablegroups id="ID_78" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:396,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:396,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#5AC4C4;' &gt;CONDENSED STATEMENTS OF CASH FLOWS (Millions of Euros)&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:right;vertical-align:middle;border-color:Black;min-width:213,75pt;' &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-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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: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:7pt;font-weight:bold;color:#072146;' &gt;2020&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:7pt;font-weight:bold;color:#072146;' &gt;2019&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: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: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:7pt;color:#000000;' &gt;A) CASH FLOWS FROM OPERATING ACTIVITIES&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: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:7pt;color:#000000;' &gt;6.874&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:7pt;color:#000000;' &gt;3.888&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:7pt;color:#000000;' &gt;(228)&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:7pt;color:#000000;' &gt;B) CASH FLOWS FROM INVESTING ACTIVITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;(145)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;(123)&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:7pt;color:#000000;' &gt;C) CASH FLOWS FROM FINANCING ACTIVITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &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:7pt;color:#000000;' &gt;(468)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(256)&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:7pt;color:#000000;' &gt;D) EFFECT OF EXCHANGE RATE CHANGES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;(974)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &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:7pt;color:#000000;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:213,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(INCREASE/DECREASE) NET CASH AND CASH EQUIVALENTS (A+B+C+D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;5.690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;3.352&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(522)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Statementofcashflowsfromdisposablegroups>
  <bbva:Correctionsloansandadvancesatamortizedcost id="ID_79" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:435,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:435,75pt;' &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. 2020 (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;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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150,75pt;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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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;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 of financial assets:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11.935)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8.807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(15.843)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15.843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5.107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5.107)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1.701)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2.659)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;502&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;729&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1.231)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16.119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(827)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15.395&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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2.944)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2.949)&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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21.472)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2.342)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1.157)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(24.970)&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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(204)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.134&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;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(283)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(190)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(204)&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;Discontinued operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(46.664)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9.190)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1.192)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(57.045)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:150,75pt;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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;298.793&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;30.601&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;14.678&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;344.072&lt;/font&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:435,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:435,75pt;' &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. 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;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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150,75pt;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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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;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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;440&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;246&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(152)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(349)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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;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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(388)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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;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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:Cashflowsofliabilitiesunderreinsuranceandreinsurancecontracts id="ID_80" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:504,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:504,75pt;' &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-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:64,5pt;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;Up to 1 year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;3 to 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;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;2020&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;1.227&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;950&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;1.616&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;6.158&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;9.951&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;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.571&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.197&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.806&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;6.032&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;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:64,5pt;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;1.686&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.822&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;5.285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;9.834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Cashflowsofliabilitiesunderreinsuranceandreinsurancecontracts>
  <bbva:LiabilitiesUnderReassuranceAndAssuranceContracts id="ID_81" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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-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-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;/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;8.731&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;/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;6.268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/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;5.431&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/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;836&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/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;2.463&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/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;2.298&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/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;165&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/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;672&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;Provisions for unexpired risks and other provisions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;548&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:324pt;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;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;9.951&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:LiabilitiesUnderReassuranceAndAssuranceContracts>
  <bbva:Changesinvaluecorrectionsloansandadvancesatamortizedcost id="ID_82" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:435,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:435,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Changes in allowances of loans and advances at amortized cost. 2020 (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;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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150,75pt;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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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;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 of financial assets:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;184&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(511)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1.806)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2.133)&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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;156&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(923)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(766)&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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(50)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;202&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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;218&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1.950)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1.652)&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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;144&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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;Net annual origination of allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(872)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(795)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1.329)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2.996)&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;write-offs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.567&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.568&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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;256&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;721&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.204&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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(118)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(177)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(283)&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;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;618&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;803&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;Discontinued operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;444&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;278&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.123&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;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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2.037)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2.289)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(7.815)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(12.141)&lt;/font&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:435,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:435,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Changes in allowances of loans and advances at amortized cost. 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;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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150,75pt;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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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: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 of financial assets:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(227)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(649)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;273&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(86)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;236&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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 allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(542)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(116)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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;write-offs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;130&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(30)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(89)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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: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;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;215&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;366&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;183&lt;/font&gt;&lt;/td&gt;&lt;td style='width:71,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:71,25pt;' &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:150,75pt;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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:71,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:71,25pt;' &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:Disclosureofpreferredsecuritiesbyissuerexplanatory id="ID_83" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:487,5pt;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:13pt;' &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;font-weight:bold;color:#44546A;' &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;font-weight:bold;color:#004481;' &gt;2020&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;font-weight:bold;color:#004481;' &gt;2019&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;font-weight:bold;color:#004481;' &gt;2018&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;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;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;/tr&gt;&lt;tr style='height:13,5pt;' &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;159&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;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;/tr&gt;&lt;tr style='height:13pt;' &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;-&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:13pt;' &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;-&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;/tr&gt;&lt;tr style='height:13pt;' &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;Other&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;-&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;-&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;9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:255,75pt;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;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;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77,25pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofpreferredsecuritiesbyissuerexplanatory>
  <bbva:Tableoffinancialliabilitiesexplanatory id="ID_84" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:440,25pt;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;Other financial liabilities (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25pt;' &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;font-weight:bold;color:#0A5FB4;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;Lease liabilities&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;2.674&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;3.335&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;background-color:#E9E9E9;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: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;Creditors for other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.408&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.891&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;Collection accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.275&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.305&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;Creditors for other payment obligations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.648&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;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;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;13.358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;13.758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;12.844&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoffinancialliabilitiesexplanatory>
  <bbva:Tableofmaturityofliabilitiesbylease id="ID_85" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:447,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:447,75pt;' &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-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:5,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:5,25pt;' &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: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;font-weight:bold;color:#072146;' &gt;Up to 1 year&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;font-weight:bold;color:#072146;' &gt;1 to 3 years&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;font-weight:bold;color:#072146;' &gt;3 to 5 years&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;font-weight:bold;color:#072146;' &gt;Over 5 years&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;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:5,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:5,25pt;' &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;244&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;430&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;397&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;1.602&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;2.674&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofmaturityofliabilitiesbylease>
  <bbva:Provisionsforpensionsandsimilarobligationschangesovertheperiod id="ID_86" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-bottom-style:solid;border-bottom-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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;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;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;&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;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;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;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;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;Add&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;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;298&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;327&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;125&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;44&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;63&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;77&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;49&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;49&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;/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:8pt;color:#000000;' &gt;205&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;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:8pt;color:#000000;' &gt;(10)&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;&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;191&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;/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;sup&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(2)&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;&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;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;(29)&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;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#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;(654)&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;/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;Employer contributions&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;(124)&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;(103)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;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;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;4.272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Provisionsforpensionsandsimilarobligationschangesovertheperiod>
  <bbva:TableOflProvisionsForTaxesLegalContingentsAndOtherProvisions id="ID_87" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;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;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;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;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;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;Additions&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;555&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;396&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;455&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;(215)&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;/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;Amount used and other variations&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;(383)&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;(453)&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;(410)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:313,5pt;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;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;1.091&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:TableOflProvisionsForTaxesLegalContingentsAndOtherProvisions>
  <bbva:Provisionsbreakdownbyconcepts id="ID_88" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:534,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:534,75pt;' &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:21pt;' &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;font-weight:bold;color:#44546A;' &gt;&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;font-weight:bold;color:#072146;' &gt;Notes&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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Provisions for pensions and similar obligations&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;25&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;4.272 &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;4.631&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;4.787&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Other long term employee benefits&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;49 &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;61&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:13pt;' &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;Provisions for taxes and other legal contingencies&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;612 &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;677&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;686&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Provisions for contingent risks and commitments&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;728 &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;711&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;636&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Other provisions (*)&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;479 &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;457&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;601&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:297,75pt;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:59,25pt;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;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;6.141 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;6.538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;6.772&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Provisionsbreakdownbyconcepts>
  <bbva:Impairementlossesreconciliationsi id="ID_89" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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;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-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-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;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;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;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;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;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;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;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;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;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;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;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;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;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 of financial assets:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;131&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(155)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1.794)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1.490)&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:6pt;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;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;text-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;text-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;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-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;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;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;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;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;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;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;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;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;(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:Varbyriskfactor id="ID_90" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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-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-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-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-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-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;2020&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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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: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;29&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;12&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;11&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;(28)&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;39&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;20&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;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:7pt;color:#000000;' &gt;20&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;39&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;20&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;1&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;(39)&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;/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;font-weight:bold;color:#004481;' &gt;32&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;font-weight:bold;color:#004481;' &gt;12&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;font-weight:bold;color:#004481;' &gt;2&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;font-weight:bold;color:#004481;' &gt;11&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;font-weight:bold;color:#004481;' &gt;(29)&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;font-weight:bold;color:#004481;' &gt;28&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;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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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: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;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;font-weight:bold;color:#004481;' &gt;24&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;font-weight:bold;color:#004481;' &gt;5&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;font-weight:bold;color:#004481;' &gt;5&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;font-weight:bold;color:#004481;' &gt;8&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;font-weight:bold;color:#004481;' &gt;(22)&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;font-weight:bold;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;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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &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: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;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;font-weight:bold;color:#004481;' &gt;19&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;font-weight:bold;color:#004481;' &gt;5&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;font-weight:bold;color:#004481;' &gt;3&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;font-weight:bold;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;font-weight:bold;color:#004481;' &gt;(17)&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;font-weight:bold;color:#004481;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Varbyriskfactor>
  <bbva:Expectedshortfall id="ID_91" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13,15pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:418,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:418,5pt;' &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:13pt;' &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:8pt;color:#FFFFFF;' &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:8pt;font-weight:bold;color:#072146;' &gt;Europe&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;font-weight:bold;color:#072146;' &gt;Mexico&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;font-weight:bold;color:#072146;' &gt;Peru&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;font-weight:bold;color:#072146;' &gt;Venezuela&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;font-weight:bold;color:#072146;' &gt;Argentina&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;font-weight:bold;color:#072146;' &gt;Colombia&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;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,15pt;' &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:8pt;color:#000000;' &gt;Expected shortfall&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;(121)&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;(69)&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;(8)&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;(8)&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)&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;(8)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Expectedshortfall>
  <bbva:Effectofcompensation id="ID_92" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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 2020 (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;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;text-align:right;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;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;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;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-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;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:center;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;47.862&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;5.688&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;42.173&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;33.842&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;9.018&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;(686)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19,5pt;' &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:8pt;color:#000000;' &gt;Reverse repurchase, securities borrowing and similar agreements&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;34.500&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;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;34.500&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;35.141&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;161&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;(802)&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;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;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;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;82.362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;5.688&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;76.674&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;68.983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;9.178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Trading and hedging derivatives&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;10, 15&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;49.720&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;5.722&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;43.998&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;33.842&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;9.435&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;721&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19,5pt;' &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:8pt;color:#000000;' &gt;Repurchase, securities lending and similar agreements&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;43.950&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;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;43.950&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;44.677&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;1.619&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;(2.346)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:166,5pt;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;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;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;93.670&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;5.722&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;87.948&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;78.519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;11.054&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;(1.624)&lt;/font&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;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 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &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:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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;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;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-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;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:21pt;' &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:#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:center;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;36.349&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;2.388&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;33.961&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;25.020&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;8.210&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;731&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18,75pt;' &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:8pt;color:#000000;' &gt;Reverse repurchase, securities borrowing and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;text-align:center;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;35.805&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;21&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;35.784&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;35.618&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;204&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;(39)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:166,5pt;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;text-align:center;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;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;72.154&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;2.409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;69.744&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;60.637&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;8.415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;692&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &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:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;text-align:center;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;text-align:right;vertical-align:middle;border-color:Black;min-width:48,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38.693&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;2.394&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;36.299&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;25.020&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;10.613&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;667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21,75pt;' &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:8pt;color:#000000;' &gt;Repurchase, securities lending and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;text-align:center;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;45.977&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;21&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;45.956&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;45.239&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;420&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;297&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:166,5pt;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;text-align:center;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;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;84.670&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;2.414&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;82.256&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;70.259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;11.033&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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;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:39pt;' &gt;&lt;td style='width:166,5pt;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;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;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;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;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-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;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:center;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;48.895&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;32.415&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;24.011&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:19,5pt;' &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:8pt;color:#000000;' &gt;Reverse repurchase, securities borrowing and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;text-align:center;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;28.074&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;42&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;28.032&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;28.022&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;169&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;(159)&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;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;text-align:center;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;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;76.969&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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;60.447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;52.033&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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: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:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;text-align:center;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;text-align:right;vertical-align:middle;border-color:Black;min-width:48,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50.583&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;17.101&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;33.481&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;24.011&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;6.788&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;2.682&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19,5pt;' &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:8pt;color:#000000;' &gt;Repurchase, securities lending and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;text-align:center;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;43.035&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;42&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;42.993&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;42.877&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;34&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;82&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:166,5pt;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;text-align:center;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;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;93.618&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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;76.474&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;66.888&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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;</bbva:Effectofcompensation>
  <bbva:Sensitivityanalysistointerestrate id="ID_93" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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 2020&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25,5pt;' &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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:144pt;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:#072146;' &gt;Impact on net interest income (*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:144pt;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:#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: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:#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: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;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: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;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: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;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: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;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:Black;min-width:171,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;EUR &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;[1.5% , 3.5%]&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;[-1.5% , -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;[3.5% , 5.5%]&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;[-3.5% , -1.5%]&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;MXN&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% , 1.5%]&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;[-1.5% , -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;[-1.5% , -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% , 1.5%]&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;TRY&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% , 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% , 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% , 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% , 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;Other&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% , 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% , 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% , 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% , 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: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;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;[3.5% , 5.5%]&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;[-3.5% , -1.5%]&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;[3.5% , 5.5%]&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;[-3.5% , -1.5%]&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sensitivityanalysistointerestrate>
  <bbva:Tableofnetdefinedbenefitliabilityassetexplanatory id="ID_94" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:513pt;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;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-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:42pt;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:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;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:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;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:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;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: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: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: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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;4.539&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:8pt;color:#000000;' &gt;5.050&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:8pt;color:#000000;' &gt;4.678&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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;1.247&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:8pt;color:#000000;' &gt;1.486&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:8pt;color:#000000;' &gt;1.793&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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;1.562&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:8pt;color:#000000;' &gt;1.580&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:8pt;color:#000000;' &gt;1.114&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;Other long term employee benefits&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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;49&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:8pt;color:#000000;' &gt;61&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: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:345pt;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:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7.398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &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;/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;Pension plan assets&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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;1.608&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:8pt;color:#000000;' &gt;1.961&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:8pt;color:#000000;' &gt;1.694&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 benefit plan assets&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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;1.484&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:8pt;color:#000000;' &gt;1.532&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:8pt;color:#000000;' &gt;1.146&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,75pt;' &gt;&lt;td style='width:345pt;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:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.092&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:345pt;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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &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;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:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4.305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &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;/tr&gt;&lt;tr style='height:13,5pt;' &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 asset on the consolidated balance sheet (2)&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:8pt;font-style:italic;color:#787878;' &gt;&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:8pt;font-style:italic;color:#A5A5A5;' &gt;(16)&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:8pt;font-style:italic;color:#A5A5A5;' &gt;(8)&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:8pt;font-style:italic;color:#A5A5A5;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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:42pt;text-align:left;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;24&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:8pt;font-style:italic;color:#A5A5A5;' &gt;4.272&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:8pt;font-style:italic;color:#A5A5A5;' &gt;4.631&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:8pt;font-style:italic;color:#A5A5A5;' &gt;4.787&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:42pt;text-align:left;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;24&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:8pt;font-style:italic;color:#A5A5A5;' &gt;49&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:8pt;font-style:italic;color:#A5A5A5;' &gt;61&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:8pt;font-style:italic;color:#A5A5A5;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofnetdefinedbenefitliabilityassetexplanatory>
  <bbva:Disclosureofconsolidatedincomestatementimpactexplanatory id="ID_95" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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;Notes&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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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 other 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:right;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;44&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;63&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;77&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:right;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;265&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;293&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;282&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;Interest income&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: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;(220)&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;(230)&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;(206)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &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;font-weight:bold;color:#004481;' &gt;Personnel expense&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:#004481;' &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;font-weight:bold;color:#004481;' &gt;121&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;font-weight:bold;color:#004481;' &gt;143&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;font-weight:bold;color:#004481;' &gt;130&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:right;vertical-align:middle;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44.1&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;72&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;95&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;72&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;Defined benefit plan 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;44.1&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;49&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;49&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;58&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &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;font-weight:bold;color:#004481;' &gt;Provisions or (reversal) of provisions&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;46 &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;font-weight:bold;color:#004481;' &gt;210&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;font-weight:bold;color:#004481;' &gt;213&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;font-weight:bold;color:#004481;' &gt;125&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:right;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;224&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;/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:right;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;(8)&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;/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:right;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;(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;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;/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;Other provision 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: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;4&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;28&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:313,5pt;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;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;419&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;332&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofconsolidatedincomestatementimpactexplanatory>
  <bbva:Disclosureofequityimpactexplanatory id="ID_96" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-bottom-style:solid;border-bottom-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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;161&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;/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;Post-employment medical benefits&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;30&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;74&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;(47)&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;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;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;191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofequityimpactexplanatory>
  <bbva:Tableofdefinedbenefitplans id="ID_97" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:537pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:537pt;' &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;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: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:7pt;font-weight:bold;color:#072146;' &gt;&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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;&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;font-weight:bold;color:#072146;' &gt;&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;font-weight:bold;color:#072146;' &gt;2019&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:7pt;font-weight:bold;color:#072146;' &gt;&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;font-weight:bold;color:#072146;' &gt;&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;font-weight:bold;color:#072146;' &gt;2018&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;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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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: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:7pt;font-weight:bold;color:#072146;' &gt;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;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:53,25pt;border-top-style:solid;border-top-width:1;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;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;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:45,75pt;border-top-style:solid;border-top-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:7pt;font-weight:bold;color:#FFFFFF;' &gt;8.116&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;background-color:#5AC4C4;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.622&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;background-color:#5AC4C4;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-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:7pt;font-weight:bold;color:#FFFFFF;' &gt;2.839&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;background-color:#5AC4C4;border-color:Black;min-width:54,75pt;' &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:45,75pt;border-top-style:solid;border-top-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:7pt;font-weight:bold;color:#FFFFFF;' &gt;8.384&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;background-color:#5AC4C4;border-color:Black;min-width:45,75pt;' &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:53,25pt;border-top-style:solid;border-top-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;5.378&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;Current service 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:7pt;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: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:7pt;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:7pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:54,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &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:7pt;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:7pt;color:#000000;' &gt;61&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;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:7pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;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:7pt;color:#000000;' &gt;230&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:7pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;206&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;74&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;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:7pt;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: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:7pt;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:7pt;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:7pt;color:#000000;' &gt;1&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:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(124)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;65&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:7pt;color:#000000;' &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: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:7pt;color:#000000;' &gt;103&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;(103)&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;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: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:7pt;color:#000000;' &gt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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: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;109&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;364&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;783&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;454&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:7pt;color:#000000;' &gt;329&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(263)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(286)&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;21&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:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(176)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;454&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:7pt;color:#000000;' &gt;(454)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;(286)&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;286&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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: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:7pt;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:7pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:54,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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: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;14&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;688&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:54,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;688&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(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:7pt;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:7pt;color:#000000;' &gt;(274)&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 gains and 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:7pt;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: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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(3)&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(839)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(185)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(654)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(905)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(187)&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:7pt;color:#000000;' &gt;(718)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(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:7pt;color:#000000;' &gt;(200)&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;(779)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7pt;' &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;Business combinations and disposals (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(371)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(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:7pt;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:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;2&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(459)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(409)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(50)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(22)&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;Other effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;4&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;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:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;7.348&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;3.092&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.256&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;8.116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;3.493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;7.585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;2.840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53,25pt;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;4.745&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: Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &gt;4.288&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &gt;4.039&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:7pt;color:#A5A5A5;' &gt;4.592&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:7pt;font-style:italic;color:#A5A5A5;' &gt;266&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:7pt;font-style:italic;color:#A5A5A5;' &gt;4.326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#A5A5A5;' &gt;4.807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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: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;font-style:italic;color:#A5A5A5;' &gt;4.547&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &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:7pt;color:#A5A5A5;' &gt;2.122&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:7pt;color:#A5A5A5;' &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:7pt;color:#A5A5A5;' &gt;2.231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#A5A5A5;' &gt;2.124&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:7pt;font-style:italic;color:#A5A5A5;' &gt;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:7pt;font-style:italic;color:#A5A5A5;' &gt;1.615&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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: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;font-style:italic;color:#A5A5A5;' &gt;28&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &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:7pt;color:#A5A5A5;' &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:7pt;color:#A5A5A5;' &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:7pt;color:#A5A5A5;' &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:7pt;font-style:italic;color:#A5A5A5;' &gt;323&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:7pt;font-style:italic;color:#A5A5A5;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#A5A5A5;' &gt;326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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: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;font-style:italic;color:#A5A5A5;' &gt;39&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &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:7pt;color:#A5A5A5;' &gt;282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &gt;444&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#A5A5A5;' &gt;359&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:7pt;font-style:italic;color:#A5A5A5;' &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:7pt;font-style:italic;color:#A5A5A5;' &gt;422&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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: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;font-style:italic;color:#A5A5A5;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdefinedbenefitplans>
  <bbva:Disclosureofactuarialassumptionsexplanatory id="ID_98" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:6,75pt;' &gt;&lt;td colspan='12' rowspan='1' style='width:476,25pt;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:6pt;color:#02A5A5;' &gt;Actuarial assumptions (%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:94,5pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:126pt;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-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;/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;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;0,53%&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;8,37%&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;13,00%&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;/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;4,00%&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;11,20%&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;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;/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;1,94%&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;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;/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;13,90%&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;/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:bottom;border-color:Black;min-width:31,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;PER 2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31,5pt;text-align:right;vertical-align:bottom;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:bottom;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:bottom;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:bottom;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:bottom;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:bottom;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:bottom;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:bottom;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:bottom;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:bottom;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>
  <bbva:Disclosureofsensitivityanalysis id="ID_99" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:654,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:654,75pt;' &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: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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' 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;font-weight:bold;color:#072146;' &gt;Basis points change&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:127,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:127,5pt;' &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 colspan='2' rowspan='1' style='width:127,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:127,5pt;' &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:127,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:127,5pt;' &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:16,5pt;' &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;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;Increase&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;Decrease&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;Increase&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;Decrease&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;Increase&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;Decrease&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18,75pt;' &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;Discount rate&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;50&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;(354)&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;390&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;(367)&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;405&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;(298)&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;332&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,75pt;' &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;Rate of salary increase&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;50&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;(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;3&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;(3)&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;3&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;(3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,75pt;' &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;Rate of pension increase&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;50&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;29&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;(27)&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;27&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;(26)&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;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;(18)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;Medical cost trend rate&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;50&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;145&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;(129)&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;169&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;(133)&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;115&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;(91)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19,5pt;' &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;Change in obligation from each additional year of longevity&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;211&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;137&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;108&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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofsensitivityanalysis>
  <bbva:Tableofdefinedbenefitplansbygeography id="ID_100" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,95pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:379,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:379,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Post-employment commitments 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;font-weight:bold;color:#072146;' &gt;Rest of the world&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;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Defined benefit obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:#000000;' &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:#000000;' &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:#000000;' &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:#000000;' &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:#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;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:40,5pt;border-top-style:solid;border-top-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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.592&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;background-color:#5AC4C4;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;664&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;background-color:#5AC4C4;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;375&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;background-color:#5AC4C4;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;444&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;background-color:#5AC4C4;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;460&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Current service cost&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;30&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;45&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:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:40,5pt;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;-&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;4&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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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: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:40,5pt;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;224&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;136&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:7pt;color:#000000;' &gt;93&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:7pt;color:#000000;' &gt;31&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:7pt;color:#000000;' &gt;(4)&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:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:40,5pt;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;60&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;79&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:7pt;color:#000000;' &gt;(19)&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:7pt;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:7pt;color:#000000;' &gt;54&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:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#666666;' &gt;Other actuarial gains 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:7pt;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:7pt;color:#000000;' &gt;112&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;(703)&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:7pt;color:#000000;' &gt;(58)&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:40,5pt;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;-&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:7pt;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:7pt;color:#000000;' &gt;(371)&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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(32)&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:7pt;color:#000000;' &gt;(126)&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:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Other effects&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.288&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;666&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:40,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;4.198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:40,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:4,5pt;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Plan assets&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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;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;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:40,5pt;border-top-style:solid;border-top-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:7pt;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;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:7pt;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;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:7pt;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;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:7pt;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;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;422&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;37&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:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;4&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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;color:#000000;' &gt;86&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;color:#000000;' &gt;31&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:7pt;color:#000000;' &gt;35&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:7pt;color:#000000;' &gt;(23)&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:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#666666;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;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:7pt;color:#000000;' &gt;31&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:7pt;color:#000000;' &gt;35&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:7pt;color:#000000;' &gt;(23)&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:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;(60)&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:7pt;color:#000000;' &gt;(57)&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:7pt;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:7pt;color:#000000;' &gt;(8)&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:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;color:#000000;' &gt;19&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:7pt;color:#000000;' &gt;(327)&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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(77)&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:7pt;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:7pt;color:#000000;' &gt;(100)&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:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Other effects&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;638&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;439&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:4,5pt;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Net liability (asset)&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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;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;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:40,5pt;border-top-style:solid;border-top-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:7pt;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;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:7pt;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;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:7pt;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;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:7pt;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;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Current service cost&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;8&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:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(86)&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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: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:40,5pt;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;224&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;95&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:7pt;color:#000000;' &gt;62&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:7pt;color:#000000;' &gt;(4)&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:7pt;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:7pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#666666;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;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:7pt;color:#000000;' &gt;(31)&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:7pt;color:#000000;' &gt;(35)&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:7pt;color:#000000;' &gt;23&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:7pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;60&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;79&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:7pt;color:#000000;' &gt;(19)&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:7pt;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:7pt;color:#000000;' &gt;54&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:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#666666;' &gt;Other actuarial gains 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:7pt;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:7pt;color:#000000;' &gt;112&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;(643)&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(19)&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(26)&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:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Other effects&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.039&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdefinedbenefitplansbygeography>
  <bbva:Ltsscdbylmu id="ID_101" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:414pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:414pt;' &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-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:93pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;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;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;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;2018&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:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;95%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;108%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;106%&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: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;97%&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;108%&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;101%&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: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;92%&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;111%&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;119%&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: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;98%&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;116%&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;114%&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: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;95%&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;99%&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;110%&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: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;86%&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;103%&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;99%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Ltsscdbylmu>
  <bbva:Netstablefinancerationsfr id="ID_102" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11,25pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:284,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:284,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;NSFR main LMU&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:87,75pt;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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98,25pt;' &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:98,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98,25pt;' &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:98,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;120%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;BBVA Eurozone&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:8pt;color:#000000;' &gt;121%&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:8pt;color:#000000;' &gt;113%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;BBVA Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;138%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;130%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;BBVA USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Garanti BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;154%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;151%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Netstablefinancerationsfr>
  <bbva:Disclosureofmedicalbenefitcommitments id="ID_103" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:585,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:585,75pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:132,75pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:132,75pt;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-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;/tr&gt;&lt;tr style='height:42,75pt;' &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: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:187,5pt;border-top-style:solid;border-top-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: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;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;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;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;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;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;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;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;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;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;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;td style='width: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;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;27&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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: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;117&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;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;/tr&gt;&lt;tr style='height:9pt;' &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: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;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;(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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(66)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;(37)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(37)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(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;/tr&gt;&lt;tr style='height:9pt;' &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: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;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;(207)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(201)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Other effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:187,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44,25pt;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;1.562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44,25pt;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;1.484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44,25pt;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;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44,25pt;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;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;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;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;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofmedicalbenefitcommitments>
  <bbva:Liquidityriskcoveragebyugl id="ID_104" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:414pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:414pt;' &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:135pt;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;0&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;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;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;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;2018&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 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;149%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;129%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;127%&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: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;173%&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;147%&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;145%&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: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;144%&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;145%&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;143%&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: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;196%&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;147%&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;154%&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: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;183%&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;206%&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;209%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Liquidityriskcoveragebyugl>
  <bbva:Liquidityavailablebyinstrumentandsubsidiaries id="ID_105" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:433,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:433,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2020 (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-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-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;BBVA Eurozone&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;font-weight:bold;color:#072146;' &gt;BBVA Mexico&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;font-weight:bold;color:#072146;' &gt;Garanti BBVA&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;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;39.330&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;8.930&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;6.153&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;6.831&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;48.858&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.205&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.237&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;5.119&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;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;6.080&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;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;20.174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;421&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;745&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;font-weight:bold;color:#004481;' &gt;Cumulated counterbalancing capacity&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;font-weight:bold;color:#004481;' &gt;119.560&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;font-weight:bold;color:#004481;' &gt;18.672&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;font-weight:bold;color:#004481;' &gt;13.873&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;font-weight:bold;color:#004481;' &gt;13.814&lt;/font&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;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:30pt;' &gt;&lt;td style='width:208,5pt;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-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;BBVA Eurozone&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;font-weight:bold;color:#072146;' &gt;BBVA Mexico&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;font-weight:bold;color:#072146;' &gt;BBVA USA&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;font-weight:bold;color:#072146;' &gt;Garanti BBVA&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;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;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: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;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: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;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: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;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: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;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: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;Non tradable assets eligible for central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;2.935&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;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-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-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-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-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-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:12,75pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:495pt;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 2018 (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-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-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;BBVA Eurozone&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-weight:bold;color:#072146;' &gt;BBVA Mexico&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-weight:bold;color:#072146;' &gt;BBVA USA&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-weight:bold;color:#072146;' &gt;Garanti BBVA&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-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;26.506&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;7.666&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;1.667&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;7.633&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;6.677&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;29.938&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;10.490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.502&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.652&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;449&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;4.040&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;-&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;8.772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.043&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:14,25pt;' &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;Non tradable assets eligible for central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;2.314&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&lt;tr style='height:12,75pt;' &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;font-weight:bold;color:#004481;' &gt;Cumulated counterbalancing capacity&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-weight:bold;color:#004481;' &gt;69.705&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-weight:bold;color:#004481;' &gt;14.475&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-weight:bold;color:#004481;' &gt;16.024&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-weight:bold;color:#004481;' &gt;14.634&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-weight:bold;color:#004481;' &gt;10.946&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Liquidityavailablebyinstrumentandsubsidiaries>
  <bbva:Disclosureofestimatedbenefitpayments id="ID_106" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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-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-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-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-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&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;font-weight:bold;color:#072146;' &gt;2026-2030&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;556&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;474&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;388&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;313&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;257&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;856&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;111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;774&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 Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;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;180&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:140,25pt;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;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;683&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;602&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;452&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;408&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;1.810&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofestimatedbenefitpayments>
  <bbva:Disclosureofplanofassetsbreakdown id="ID_107" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:603pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:603pt;' &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:245,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:245,25pt;' &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:119,25pt;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:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;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:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;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: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: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;Cash or cash equivalents&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:245,25pt;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;Debt securities (government bonds)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &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:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.080&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:245,25pt;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;Mutual funds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &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:245,25pt;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;Insurance contracts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:245,25pt;text-align:left;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:245,25pt;' &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:119,25pt;text-align:right;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2.887&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:119,25pt;' &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:119,25pt;text-align:right;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2.241&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:245,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:245,25pt;' &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:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &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:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &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:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofplanofassetsbreakdown>
  <bbva:Matrixofresidualmaturities id="ID_108" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15,75pt;' &gt;&lt;td colspan='12' rowspan='1' style='width:685,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:685,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2020. Contractual maturities (Millions of Euros)&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;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;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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;/tr&gt;&lt;tr style='height:22,5pt;' &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;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;42.518&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;32.741&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;color:#000000;' &gt;75.258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16,5pt;' &gt;&lt;td style='width:182,25pt;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;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;3.616&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;677&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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;356&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;461&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;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;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;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.309&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:182,25pt;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;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;2.202&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;855&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;797&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;734&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;543&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.251&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;721&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;515&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.119&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21,75pt;' &gt;&lt;td style='width:182,25pt;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;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;20.033&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.757&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.351&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;364&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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;3.320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.849&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;891&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.089&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;color:#000000;' &gt;34.021&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:bottom;border-color:Black;min-width:182,25pt;' &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;279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.939&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;24.280&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23.012&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.579&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;17.032&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46.182&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;38.851&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51.709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;110.173&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:#000000;' &gt;344.036&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:bottom;border-color:Black;min-width:182,25pt;' &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;3.896&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;6.680&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;6.557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.084&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.858&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;15.494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50.045&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;color:#000000;' &gt;127.859&lt;/font&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:685,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:685,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2020. 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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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' 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style='width:45,75pt;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: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:left;vertical-align:bottom;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:left;vertical-align:bottom;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;/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;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;4.750&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;2.618&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;3.963&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;1.283&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;1.543&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;10.573&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;7.505&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;12.793&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;23.839&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;68.868&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,6pt;' &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;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;8.838&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;7.859&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;254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;741&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;726&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;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;166&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20.120&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23,25pt;' &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;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;12.735&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.324&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;588&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;353&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;957&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font 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&gt;3.361&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.213&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;869&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;383.694&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,6pt;' &gt;&lt;td 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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;(722)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(961)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(85)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(400)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(264)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(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;(2.599)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11,25pt;' &gt;&lt;td colspan='12' rowspan='1' style='width:690,75pt;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:22,5pt;' &gt;&lt;td style='width:187,5pt;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-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;Demand &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:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&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:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&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:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&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:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&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:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&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:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&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:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&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:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &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:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&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: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: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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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;/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;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: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: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: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: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: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: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: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: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;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-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-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;Demand &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:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&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:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&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:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&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:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&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:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&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:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&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:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&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:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &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:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&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: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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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;/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;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-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-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;Demand &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:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&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:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&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:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&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:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&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:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&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:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&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:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&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:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &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:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&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: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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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;/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;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: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;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: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;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: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;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: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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:748,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:748,5pt;' &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:245,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:245,25pt;' &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: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:8pt;font-weight:bold;color:#072146;' &gt;Demand &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:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&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:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&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:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&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:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&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:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&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:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&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:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&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:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &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:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&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: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:245,25pt;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:245,25pt;' &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:45,75pt;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: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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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:left;vertical-align:bottom;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;/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;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:14,25pt;' &gt;&lt;td style='width:245,25pt;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;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:14,25pt;' &gt;&lt;td style='width:245,25pt;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;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:14,25pt;' &gt;&lt;td style='width:245,25pt;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;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:245,25pt;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;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:245,25pt;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;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;</bbva:Matrixofresidualmaturities>
  <bbva:TableOfInvestmentsInListedMarkets id="ID_109" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:676,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:676,5pt;' &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:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145,5pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145,5pt;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-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;/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;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;38&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;/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;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;2.707&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;/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;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;1&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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:240pt;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:145,5pt;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;2.747&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145,5pt;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;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;/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:#787878;' &gt;Of which: Bank account in 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;4&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;4&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:Tableofencumberedassets id="ID_110" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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 2020 (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;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-bottom-style:solid;border-bottom-width:1;text-align:center;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-bottom-style:solid;border-bottom-width:1;text-align:center;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-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;121.999&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;614.260&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;2.134&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;2.134&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;14.556&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;14.556&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;29.379&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;26.112&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;100.108&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;100.108&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;90.486&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;499.595&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 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25,5pt;' &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:10pt;color:#000080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;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-bottom-style:solid;border-bottom-width:1;text-align:center;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-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;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: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;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: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;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: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;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:#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;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:#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 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;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-bottom-style:solid;border-bottom-width:1;text-align:center;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-bottom-style:solid;border-bottom-width:1;text-align:center;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-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;107.950&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;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:#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;1.864&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;1.864&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;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:#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;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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofencumberedassets>
  <bbva:Collateralreceived id="ID_111" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:466,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:466,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2020. Collateral received (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:bottom;border-color:Black;min-width:203,25pt;' &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: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:#004481;' &gt;30.723&lt;/font&gt;&lt;/td&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:#004481;' &gt;8.652&lt;/font&gt;&lt;/td&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:#004481;' &gt;1.071&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30.484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.448&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.071&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;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:87,75pt;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:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;94&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#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:466,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:466,5pt;' &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:18pt;' &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:bottom;border-color:Black;min-width:203,25pt;' &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: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:#004481;' &gt;38.496&lt;/font&gt;&lt;/td&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:#004481;' &gt;9.208&lt;/font&gt;&lt;/td&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:#004481;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &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:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &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:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &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: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;Loans and advances and other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &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:10,5pt;' &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;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:87,75pt;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:#004481;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#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;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-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-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;Fair value of encumbered collateral received or own debt securities issued&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;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;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-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;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;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;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;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;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-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-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-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-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:Sourcesofencumbrance id="ID_112" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,75pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:642,75pt;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;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-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:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:171pt;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:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:171pt;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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#004481;' &gt;131.352&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;147.523&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;/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:8pt;color:#000000;' &gt;16.611&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.348&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;/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:8pt;color:#000000;' &gt;98.668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;111.726&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;/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;Outstanding subordinated debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.073&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19.449&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;17.280&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;21.256&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;18.538&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;22.775&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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;font-weight:bold;color:#004481;' &gt;Other sources&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;5.202&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;font-weight:bold;color:#004481;' &gt;449&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;font-weight:bold;color:#004481;' &gt;4.788&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;font-weight:bold;color:#004481;' &gt;3.972&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;font-weight:bold;color:#004481;' &gt;4.330&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sourcesofencumbrance>
  <bbva:Disclosureretainedearningsrevaluationreservesandotherreservesbreakdownbyconceptsexplanatory id="ID_113" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:393,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:393,75pt;' &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-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:#44546A;' &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:#44546A;' &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:#072146;' &gt;2020&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:#072146;' &gt;2019&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:#072146;' &gt;2018&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: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;653&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;653&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;653&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: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;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;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:8pt;color:#000000;' &gt;133&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: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;3&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;Voluntary reserves&lt;/font&gt;&lt;/td&gt;&lt;td 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;8.117&lt;/font&gt;&lt;/td&gt;&lt;td 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;8.331&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:8pt;color:#000000;' &gt;8.010&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: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:45pt;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;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;8.890&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;9.108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;8.799&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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;Consolidation reserves attributed to the Bank and subsidiary consolidated companies.&lt;/font&gt;&lt;/td&gt;&lt;td 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;21.454&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:8pt;color:#000000;' &gt;20.161&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:8pt;color:#000000;' &gt;18.018&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: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:45pt;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;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;30.344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;29.269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;26.028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureretainedearningsrevaluationreservesandotherreservesbreakdownbyconceptsexplanatory>
  <bbva:Disclosurerestrictedreservesexplanatory id="ID_114" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:546pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:546pt;' &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:14,25pt;' &gt;&lt;td style='width:318,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:318,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;Restricted reserve for retired capital&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;88&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;88&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;88&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;Restricted reserve for parent company shares and loans for those shares&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;30&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;34&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;44&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;Restricted reserve for redenomination of capital in euros&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;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;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;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:318,75pt;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:75,75pt;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;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75,75pt;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;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75,75pt;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;133&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurerestrictedreservesexplanatory>
  <bbva:Disclosureretainedearningsrevaluationreservesexplanatory id="ID_115" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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 company or corporate group (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-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-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:#44546A;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;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;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;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;15.014&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;14.698&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 Bancomer 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;12.890&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;2.509&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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 Banco Provincial 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;1.731&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:#000000;' &gt;1.736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.745&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 Argentine 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;1.302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.220&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;1.287&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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 Peru 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;984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;168&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;160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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 de 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;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;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;/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;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;(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;(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;/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;(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;(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;/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;(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;(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;/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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;363&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;Sociedades inmobiliarias Unnim&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;(617)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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 USA Bancshares 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;(1.078)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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.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;(5.409)&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;(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;/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;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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&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: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;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;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;30.508&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;29.388&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;26.066&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;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-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-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:#004481;' &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:#004481;' &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:#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;ATOM Bank PLC&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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;text-align: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;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;(56)&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)&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;Metrovacesa, 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;font-weight:bold;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;(84)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align: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;/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;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;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;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&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;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;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;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;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;(119)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;(38)&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;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;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;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;30.344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;29.269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;26.028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureretainedearningsrevaluationreservesexplanatory>
  <bbva:Tableoftreasurystock id="ID_116" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:621,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:621,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Treasury shares (Millions of euros)&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:bottom;border-color:Black;min-width:234,75pt;' &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:129pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:129pt;' &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 colspan='2' rowspan='1' style='width:129pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:129pt;' &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:129pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:129pt;' &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:21pt;' &gt;&lt;td style='width:234,75pt;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:64,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;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;Number of Shares&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:center;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;Millions of Euros&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:center;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;Number of Shares&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:center;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;Millions of Euros&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:center;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;Number of Shares&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:center;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;Millions of Euros&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;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;Balance at beginning&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;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12.617.189&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;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;47.257.691&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;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;296&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;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13.339.582&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;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;96&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:bottom;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; + Purchases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;234.691.887&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;214.925.699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.088&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;279.903.844&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.683&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:bottom;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; - Sales and other changes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(232.956.244)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(830)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(249.566.201)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(1.298)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(245.985.735)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(1.505)&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:bottom;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; +/- Derivatives on BBVA shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;23&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;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;14.352.832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12.617.189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;47.257.691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;296&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;font-style:italic;color:#000000;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&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;font-style:italic;color:#666666;' &gt;Held by BBVA, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;592.832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &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:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &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:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &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:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &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: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;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:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;13.760.000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;12.617.189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;47.257.691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;296&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:bottom;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Average purchase price in Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;3,44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;5,06&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;6,11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&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:bottom;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Average selling price in Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;3,63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;5,20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;6,25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;Net gains or losses on transactions &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(Shareholders&amp;#39; funds-Reserves)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(24)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoftreasurystock>
  <bbva:Sharesacceptedinpledge id="ID_117" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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;39.407.590&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;/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;0,59%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sharesacceptedinpledge>
  <bbva:Sharesownedbythirdpartiesbutmanagedbythegroup id="ID_118" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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;18.266.509&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;/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;0,27%&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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sharesownedbythirdpartiesbutmanagedbythegroup>
  <bbva:Accumulatedothercomprehensiveincomeclassifiedbyconceptsexplanatory id="ID_119" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:10,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:609pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:609pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Accumulated other comprehensive income (loss) (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:66pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(2.815)&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:right;vertical-align:middle;border-color:Black;min-width:66pt;' &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:66pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &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;/tr&gt;&lt;tr style='height:10,5pt;' &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;color:#000000;' &gt;Actuarial gains (losses) on defined benefit pension plans&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;&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;(1.474)&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;(1.498)&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;(1.245)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale&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;(65)&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;Fair value changes of equity instruments measured at fair value through other comprehensive income&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;13.4&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;(1.256)&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;(404)&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;(155)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;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: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;(21)&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;24&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;116&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;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:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(11.541)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(8.351)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(8.939)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;color:#000000;' &gt;Hedge of net investments in foreign operations (effective portion)&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;&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;(62)&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;(896)&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;(218)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: US Dollar&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(432)&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;font-style:italic;color:#666666;' &gt;(432)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: Mexican peso&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(362)&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;font-style:italic;color:#666666;' &gt;(588)&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;font-style:italic;color:#666666;' &gt;(78)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: Turkish lira&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;317&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;font-style:italic;color:#666666;' &gt;163&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;font-style:italic;color:#666666;' &gt;322&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: other exchanges&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(18)&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;font-style:italic;color:#666666;' &gt;(38)&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;font-style:italic;color:#666666;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;color:#000000;' &gt;Foreign currency translation &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;(14.185)&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;(9.147)&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;(9.630)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: US Dollar&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(16)&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;font-style:italic;color:#666666;' &gt;1.565&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;font-style:italic;color:#666666;' &gt;1.326&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: Mexican peso&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(5.220)&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;font-style:italic;color:#666666;' &gt;(3.557)&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;font-style:italic;color:#666666;' &gt;(4.205)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: Turkish lira&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(4.960)&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;font-style:italic;color:#666666;' &gt;(3.750)&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;font-style:italic;color:#666666;' &gt;(3.326)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: Argentine peso&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(1.247)&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;font-style:italic;color:#666666;' &gt;(1.124)&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;font-style:italic;color:#666666;' &gt;(1.118)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: Venezuelan Bol&amp;#237;var&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(1.860)&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;font-style:italic;color:#666666;' &gt;(1.854)&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;font-style:italic;color:#666666;' &gt;(1.862)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: other exchanges&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(882)&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;font-style:italic;color:#666666;' &gt;(427)&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;font-style:italic;color:#666666;' &gt;(445)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;color:#000000;' &gt;Hedging derivatives. Cash flow hedges (effective portion)&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;10&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;(44)&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;(6)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23,25pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:top;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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: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;13.4&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;2.069&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;1.760&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;943&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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: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: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;644&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;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;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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 of other recognized income and expense of investments in subsidiaries, joint ventures and associates&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;(17)&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;(5)&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;(29)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:345pt;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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(14.356)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(10.226)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(10.223)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Accumulatedothercomprehensiveincomeclassifiedbyconceptsexplanatory>
  <bbva:Disclosureofcarryingvalueandfairvalueexplanatory id="ID_120" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:597pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:597pt;' &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;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: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;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:108pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:108pt;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;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:108pt;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;2018&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:#000000;' &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:7pt;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: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;Carrying amount&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;Fair value&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;Carrying amount&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;Fair value&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;Carrying amount&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;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: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:7pt;font-weight:bold;color:#004481;' &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;border-color:Black;min-width:54pt;' &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: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:7pt;font-weight:bold;color:#004481;' &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;border-color:Black;min-width:54pt;' &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: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:7pt;font-weight:bold;color:#004481;' &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;border-color:Black;min-width:54pt;' &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: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: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:Black;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: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:#000000;' &gt;9&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:7pt;color:#000000;' &gt;65.520&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:7pt;color:#000000;' &gt;65.520&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:7pt;color:#000000;' &gt;44.303&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:7pt;color:#000000;' &gt;44.303&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:7pt;color:#000000;' &gt;58.196&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: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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;108.257&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:7pt;color:#000000;' &gt;108.257&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:7pt;color:#000000;' &gt;101.735&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:7pt;color:#000000;' &gt;101.735&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:7pt;color:#000000;' &gt;89.103&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:7pt;color:#000000;' &gt;89.103&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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&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:7pt;color:#000000;' &gt;5.198&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:7pt;color:#000000;' &gt;5.198&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:7pt;color:#000000;' &gt;5.557&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:7pt;color:#000000;' &gt;5.557&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:7pt;color:#000000;' &gt;5.135&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: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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&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:7pt;color:#000000;' &gt;1.117&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:7pt;color:#000000;' &gt;1.117&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:7pt;color:#000000;' &gt;1.214&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:7pt;color:#000000;' &gt;1.214&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:7pt;color:#000000;' &gt;1.313&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: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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&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:7pt;color:#000000;' &gt;69.440&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:7pt;color:#000000;' &gt;69.440&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:7pt;color:#000000;' &gt;61.183&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:7pt;color:#000000;' &gt;61.183&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:7pt;color:#000000;' &gt;56.337&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: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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&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:7pt;color:#000000;' &gt;367.668&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:7pt;color:#000000;' &gt;374.267&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:7pt;color:#000000;' &gt;439.162&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:7pt;color:#000000;' &gt;442.788&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:7pt;color:#000000;' &gt;419.660&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: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;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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&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:7pt;color:#000000;' &gt;1.991&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:7pt;color:#000000;' &gt;1.991&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:7pt;color:#000000;' &gt;1.729&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:7pt;color:#000000;' &gt;1.729&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:7pt;color:#000000;' &gt;2.892&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: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-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: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:#004481;' &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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &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: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:Black;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: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:#000000;' &gt;10&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:7pt;color:#000000;' &gt;86.488&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:7pt;color:#000000;' &gt;86.488&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:7pt;color:#000000;' &gt;88.680&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:7pt;color:#000000;' &gt;88.680&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:7pt;color:#000000;' &gt;79.761&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:7pt;color:#000000;' &gt;79.761&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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&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:7pt;color:#000000;' &gt;10.050&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:7pt;color:#000000;' &gt;10.050&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:7pt;color:#000000;' &gt;10.010&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:7pt;color:#000000;' &gt;10.010&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:7pt;color:#000000;' &gt;6.993&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: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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&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:7pt;color:#000000;' &gt;490.606&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:7pt;color:#000000;' &gt;491.006&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:7pt;color:#000000;' &gt;516.641&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:7pt;color:#000000;' &gt;515.910&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:7pt;color:#000000;' &gt;509.185&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: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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&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:7pt;color:#000000;' &gt;2.318&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:7pt;color:#000000;' &gt;2.318&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:7pt;color:#000000;' &gt;2.233&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:7pt;color:#000000;' &gt;2.233&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:7pt;color:#000000;' &gt;2.680&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:7pt;color:#000000;' &gt;2.680&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofcarryingvalueandfairvalueexplanatory>
  <bbva:Noncontrolinginterestexplanatory id="ID_121" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:387,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:387,75pt;' &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: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;font-weight:bold;color:#44546A;' &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-weight:bold;color:#44546A;' &gt;2020&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-weight:bold;color:#44546A;' &gt;2019&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-weight:bold;color:#44546A;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Garanti BBVA&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;3.692&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;4.240&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;4.058&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:bottom;border-color:Black;min-width:203,25pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.334&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.167&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:bottom;border-color:Black;min-width:203,25pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;416&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:12,75pt;' &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:8pt;color:#000000;' &gt;BBVA Colombia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:203,25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203,25pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:203,25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203,25pt;' &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:61,5pt;text-align: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;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&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;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;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.471&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;6.201&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.764&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Noncontrolinginterestexplanatory>
  <bbva:Profitatributabletononcontrolinginterest id="ID_122" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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;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-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:#0A5FB4;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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: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;579&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;524&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;585&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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;236&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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: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:61,5pt;text-align: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;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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)&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:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&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:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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)&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;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;td style='width:61,5pt;text-align:right;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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:224,25pt;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;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;756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;827&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Profitatributabletononcontrolinginterest>
  <bbva:Eligiblecapitalresources id="ID_123" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:591pt;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-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-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-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;2020 &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-weight:bold;color:#072146;' &gt;2019 &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-weight:bold;color:#072146;' &gt;2018 &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;30.344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29.269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26.029&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;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;(46)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;Profit (loss) 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;1.305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;Interim dividend&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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;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;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;58.904&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;58.950&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;57.333&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;Accumulated other comprehensive income (loss)&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;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(14.356)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10.226)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10.223)&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;Non-controlling interest&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;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:8pt;color:#000000;' &gt;5.472&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;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;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;50.020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/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;Goodwill and other intangible assets&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;(3.455)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;/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;Indirect and synthetic 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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(320)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;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;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;(3.775)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/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;Differences from solvency and accounting perimeter&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;(186)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;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;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;(186)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/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 adjustments and deductions (1)&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;(3.128)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3.832)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4.049)&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;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;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;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;42.931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/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;Additional Tier 1 before Regulatory Adjustments&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;6.666&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.048&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.634&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;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;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;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;49.597&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;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;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;8.548&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;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;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;58.145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;&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:#094FA4;' &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:#094FA4;' &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:#094FA4;' &gt;&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;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;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;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;45.042&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Eligiblecapitalresources>
  <bbva:Regulatorycapital id="ID_124" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15,5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:460,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:460,5pt;' &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:15,5pt;' &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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;2020&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;/tr&gt;&lt;tr style='height:15,5pt;' &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: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:15,5pt;' &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: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;29.974&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;29.127&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;25.896&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;(14.023)&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;(10.133)&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;(10.130)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;3.656&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;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;Net interim attributable profit&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;860&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;1.316&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;3.188&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Common Equity Tier I (CET1) before other regulatory adjustments&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;font-weight:bold;color:#004481;' &gt;47.726&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;font-weight:bold;color:#004481;' &gt;51.974&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;font-weight:bold;color:#004481;' &gt;50.022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;Goodwill and intangible 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;(3.455)&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;(6.803)&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;(8.199)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;Direct and indirect holdings in own Common Equity Tier I 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;(366)&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;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;(1.478)&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;(1.463)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;Other deductions and filters (**)&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;504&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;386&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;386&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Total common equity Tier 1 regulatory adjustments&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;font-weight:bold;color:#004481;' &gt;(4.795)&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;font-weight:bold;color:#004481;' &gt;(8.321)&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;font-weight:bold;color:#004481;' &gt;(9.709)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Common equity TIER 1 (CET1)&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;font-weight:bold;color:#004481;' &gt;42.931&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;font-weight:bold;color:#004481;' &gt;43.653&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;font-weight:bold;color:#004481;' &gt;40.313&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20,5pt;' &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:7pt;color:#000000;' &gt;Capital instruments and share premium accounts classified as liabilities and qualifying as Additional Tier I&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;6.130&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;5.400&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;5.005&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20,5pt;' &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: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;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;536&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;648&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;629&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;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;6.666&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;font-weight:bold;color:#004481;' &gt;6.048&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;font-weight:bold;color:#004481;' &gt;5.634&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Additional Tier 1 (AT1) &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;font-weight:bold;color:#004481;' &gt;6.666&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;font-weight:bold;color:#004481;' &gt;6.048&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;font-weight:bold;color:#004481;' &gt;5.634&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &gt;&lt;td style='width:255,75pt;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: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;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;49.597&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68,25pt;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;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;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;Capital instruments and share premium accounted as Tier 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;4.540&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;3.242&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;3.768&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20,5pt;' &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:7pt;color:#000000;' &gt;Qualifying Tier 2 capital included in consolidated T2 capital issued by subsidiaries and held by third parties&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;3.410&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;4.512&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;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;Credit risk adjustments&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;604&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;631&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;579&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Tier 2 before regulatory adjustments&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;font-weight:bold;color:#004481;' &gt;8.554&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;font-weight:bold;color:#004481;' &gt;8.385&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;font-weight:bold;color:#004481;' &gt;8.756&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Tier 2 regulatory adjustments &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;font-weight:bold;color:#004481;' &gt;(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;font-weight:bold;color:#004481;' &gt;(82)&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;font-weight:bold;color:#004481;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Tier 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;font-weight:bold;color:#004481;' &gt;8.548&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;font-weight:bold;color:#004481;' &gt;8.304&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;font-weight:bold;color:#004481;' &gt;8.756&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &gt;&lt;td style='width:255,75pt;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: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;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;58.145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68,25pt;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;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;/tr&gt;&lt;tr style='height:15,5pt;' &gt;&lt;td style='width:255,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total RWA&amp;#39;s&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68,25pt;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;353.273&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68,25pt;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;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;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;CET 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;12,2%&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;12,0%&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;11,6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;14,0%&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;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;16,5%&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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Regulatorycapital>
  <bbva:Tableofleverageratio id="ID_125" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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;Leverage ratio&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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;font-weight:bold;color:#0A5FB4;' &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;font-weight:bold;color:#0A5FB4;' &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;font-weight:bold;color:#072146;' &gt;2020 &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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;49.597&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;/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;741.095&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;/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;6,69%&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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofleverageratio>
  <ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory id="ID_126" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:399pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:399pt;' &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:102pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:102pt;' &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:99pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:99pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:99pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:99pt;' &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:99pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:99pt;' &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:102pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;32.555&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;73.856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1.847&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;69.092&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;61.969&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;28.659&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.609&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;697&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12.790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11.123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11.367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6.019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;34.043&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;28.593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25.833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;3.826&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;324&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.612&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;60.976&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;7.866&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;59.982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7.832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;961&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;105&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1.862&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;27.587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;58.045&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;61.588&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;56.560&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8.381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23.495&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;649&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7.402&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;34.046&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;232&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29.466&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26.615&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11.805&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;504&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;8.558&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1.492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;8.629&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1.382&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;3.149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;3.844&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8,25pt;' &gt;&lt;td style='width:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;944&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;976&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.038&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.274&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.382&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.529&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.329&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8,25pt;' &gt;&lt;td style='width:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;643&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:102pt;text-align:left;vertical-align:middle;border-color:Black;min-width:102pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2.250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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:33pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33pt;' &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;</ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory>
  <bbva:Disclosureoffinancialinstrumentsatfairvaluebylevelsexplanatory id="ID_127" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8,25pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:963,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:963,75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;Fair value of financial Instruments by levels. December 2020 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8,25pt;' &gt;&lt;td style='width:187,5pt;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:5pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:172,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:172,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:172,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:172,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:172,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:172,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;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:5pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;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:5pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;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:5pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:0,75pt;' &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:center;vertical-align:middle;border-color:Black;min-width:187,5pt;' &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: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:5pt;font-weight:bold;color:#072146;' &gt;Level 2&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:5pt;font-weight:bold;color:#072146;' &gt;Level 3&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:5pt;font-weight:bold;color:#072146;' &gt;Level 2&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:5pt;font-weight:bold;color:#072146;' &gt;Level 3&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:5pt;font-weight:bold;color:#072146;' &gt;Level 2&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:5pt;font-weight:bold;color:#072146;' &gt;Level 3&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:5pt;font-weight:bold;color:#072146;' &gt;Valuation technique(s)&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:5pt;font-weight:bold;color:#072146;' &gt;Observable inputs&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: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: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:5pt;font-weight:bold;color:#004481;' &gt;ASSETS&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:5pt;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:5pt;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:5pt;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:5pt;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:5pt;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:5pt;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:5pt;font-weight:bold;color:#000000;' &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:5pt;font-weight:bold;color:#000000;' &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:5pt;color:#000000;' &gt;&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:5pt;font-weight:bold;color:#004481;' &gt;Financial assets held for trading&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:5pt;font-weight:bold;color:#004481;' &gt;73.856&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:5pt;font-weight:bold;color:#004481;' &gt;1.847&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:5pt;font-weight:bold;color:#004481;' &gt;69.092&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:5pt;font-weight:bold;color:#004481;' &gt;1.508&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:5pt;font-weight:bold;color:#004481;' &gt;61.969&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:5pt;font-weight:bold;color:#004481;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;28.659&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1.609&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;11.123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;7.494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;199&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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;Net asset value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;34.043&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;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:5pt;color:#000000;' &gt;28.593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;25.833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;85&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:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Interest rate products (Interest rate Swaps, Call money Swaps and FRA): Discounted cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White and 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 and LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White and 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:86,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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: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:5pt;color:#666666;' &gt;Commodities&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:5pt;color:#666666;' &gt;&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:5pt;color:#666666;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:86,25pt;' &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: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: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: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:5pt;font-weight:bold;color:#004481;' &gt;381&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:5pt;font-weight:bold;color:#004481;' &gt;992&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:5pt;font-weight:bold;color:#004481;' &gt;92&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:5pt;font-weight:bold;color:#004481;' &gt;1.160&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:5pt;font-weight:bold;color:#004481;' &gt;78&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:5pt;font-weight:bold;color:#004481;' &gt;1.929&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;324&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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: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:5pt;color:#000000;' &gt;Equity instruments&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:5pt;color:#000000;' &gt;57&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:5pt;color:#000000;' &gt;465&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:5pt;color:#000000;' &gt;1&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:5pt;color:#000000;' &gt;103&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:5pt;color:#000000;' &gt;8&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:5pt;color:#000000;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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;Net asset value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:15pt;' &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:5pt;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: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:5pt;font-weight:bold;color:#004481;' &gt;178&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:5pt;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;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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: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:5pt;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;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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: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:5pt;font-weight:bold;color:#004481;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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 colspan='1' rowspan='2' style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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 colspan='1' rowspan='2' style='width:86,25pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:86,25pt;' &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:12,5pt;' &gt;&lt;td style='width:187,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities&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:5pt;color:#000000;' &gt;178&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:5pt;color:#000000;' &gt;-&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:5pt;color:#000000;' &gt;-&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:5pt;color:#000000;' &gt;-&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:5pt;color:#000000;' &gt;-&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:5pt;color:#000000;' &gt;-&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: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: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:5pt;font-weight:bold;color:#004481;' &gt;7.866&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:5pt;font-weight:bold;color:#004481;' &gt;598&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:5pt;font-weight:bold;color:#004481;' &gt;9.203&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:5pt;font-weight:bold;color:#004481;' &gt;1.084&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:5pt;font-weight:bold;color:#004481;' &gt;9.323&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:5pt;font-weight:bold;color:#004481;' &gt;1.190&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:5pt;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;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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: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: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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;7.832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;9.221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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: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:5pt;color:#000000;' &gt;Equity instruments&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:5pt;color:#000000;' &gt;34&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:5pt;color:#000000;' &gt;105&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:5pt;color:#000000;' &gt;146&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:5pt;color:#000000;' &gt;480&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:5pt;color:#000000;' &gt;113&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:5pt;color:#000000;' &gt;479&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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;Net asset value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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: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:5pt;font-weight:bold;color:#004481;' &gt;Hedging derivatives&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:5pt;font-weight:bold;color:#004481;' &gt;1.862&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:5pt;font-weight:bold;color:#004481;' &gt;8&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:5pt;font-weight:bold;color:#004481;' &gt;1.685&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:5pt;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;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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: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:5pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Interest rate products (Interest rate Swaps, Call money Swaps and FRA): Discounted cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White and 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 and LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White and 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:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &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:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:86,25pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86,25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:86,25pt;' &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: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:5pt;color:#666666;' &gt;Commodities&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:5pt;color:#666666;' &gt;&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:5pt;color:#666666;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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:86,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:86,25pt;' &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='10' rowspan='1' style='width:904,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:904,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:135pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8,25pt;' &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:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:171pt;text-align:center;vertical-align:middle;border-color:Black;min-width:171pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:171pt;text-align:center;vertical-align:middle;border-color:Black;min-width:171pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:171pt;text-align:center;vertical-align:middle;border-color:Black;min-width:171pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:8,25pt;' &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:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:85,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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: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: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: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:5pt;font-weight:bold;color:#004481;' &gt;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: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:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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: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: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:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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: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: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:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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: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: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:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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: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:5pt;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:5pt;font-weight:bold;color:#004481;' &gt;Financial liabilities held for trading &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:5pt;font-weight:bold;color:#004481;' &gt;58.045&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:5pt;font-weight:bold;color:#004481;' &gt;856&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:5pt;font-weight:bold;color:#004481;' &gt;61.588&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:5pt;font-weight:bold;color:#004481;' &gt;827&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:5pt;font-weight:bold;color:#004481;' &gt;56.560&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:5pt;font-weight:bold;color:#004481;' &gt;269&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: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;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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: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: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:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Deposits&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:5pt;color:#000000;' &gt;23.495&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:5pt;color:#000000;' &gt;621&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:5pt;color:#000000;' &gt;32.121&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:5pt;color:#000000;' &gt;649&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:5pt;color:#000000;' &gt;29.945&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:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Derivatives&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:5pt;color:#000000;' &gt;34.046&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:5pt;color:#000000;' &gt;232&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:5pt;color:#000000;' &gt;29.466&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:5pt;color:#000000;' &gt;175&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:5pt;color:#000000;' &gt;26.615&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:5pt;color:#000000;' &gt;267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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:85,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Interest rate products &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#000000;' &gt;(Interest rate Swaps, call money Swaps and FRA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;): Discounted cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White and 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 and LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White and 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:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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:85,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:85,5pt;' &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: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:5pt;color:#000000;' &gt;Short positions &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:5pt;color:#000000;' &gt;504&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:5pt;color:#000000;' &gt;3&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:5pt;color:#000000;' &gt;1&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:5pt;color:#000000;' &gt;2&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:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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: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: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: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:5pt;font-weight:bold;color:#004481;' &gt;8.558&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:5pt;font-weight:bold;color:#004481;' &gt;1.492&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:5pt;font-weight:bold;color:#004481;' &gt;8.629&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:5pt;font-weight:bold;color:#004481;' &gt;1.382&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:5pt;font-weight:bold;color:#004481;' &gt;3.149&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:5pt;font-weight:bold;color:#004481;' &gt;3.844&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:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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: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:5pt;font-weight:bold;color:#004481;' &gt;Derivatives &amp;#8211; Hedge accounting&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:5pt;font-weight:bold;color:#004481;' &gt;2.250&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:5pt;font-weight:bold;color:#004481;' &gt;15&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:5pt;font-weight:bold;color:#004481;' &gt;2.192&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:5pt;font-weight:bold;color:#004481;' &gt;11&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:5pt;font-weight:bold;color:#004481;' &gt;2.454&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:5pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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:85,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Interest rate products (Interest rate Swaps, Call money Swaps and FRA): Discounted cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White and 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 and LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White and 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:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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:85,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&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:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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: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:5pt;color:#666666;' &gt;Commodities&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:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85,5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:85,5pt;' &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:85,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:85,5pt;' &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>
  <bbva:Loancommitmentsfinancialguaranteesandothercommitments id="ID_128" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:549pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:549pt;' &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-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: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-weight:bold;color:#072146;' &gt;Notes&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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;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: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-weight:bold;color:#004481;' &gt;7.2.2&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;font-weight:bold;color:#004481;' &gt;132.584&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-weight:bold;color:#004481;' &gt;130.923&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-weight:bold;color:#004481;' &gt;118.959&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;font-style:italic;color:#787878;' &gt;Of which: defaulted&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:#787878;' &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;font-style:italic;color:#787878;' &gt;270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#787878;' &gt;247&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: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:#787878;' &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;2.919&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;3.117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;2.318&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: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:#787878;' &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;11.426&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;font-style:italic;color:#000000;' &gt;11.742&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;9.635&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: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:#787878;' &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;5.862&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;4.578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.664&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: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:#787878;' &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;71.011&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;65.475&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;58.405&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;Households &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:#787878;' &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;41.366&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;46.011&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;42.936&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:303pt;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: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-weight:bold;color:#004481;' &gt;7.2.2&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;font-weight:bold;color:#004481;' &gt;10.665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;10.984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;16.454&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;font-style:italic;color:#787878;' &gt;Of which: defaulted (*)&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:#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:#787878;' &gt;290&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#787878;' &gt;224&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#787878;' &gt;332&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: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:#787878;' &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;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;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;2&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: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:#787878;' &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;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;159&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: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:#787878;' &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;339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;font-style:italic;color:#000000;' &gt;1.274&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: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:#787878;' &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;587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;font-style:italic;color:#000000;' &gt;730&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: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:#787878;' &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;9.376&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;8.986&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;13.970&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;Households &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:#787878;' &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;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;319&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:303pt;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: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-weight:bold;color:#004481;' &gt;7.2.2&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;font-weight:bold;color:#004481;' &gt;36.190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;39.209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;35.098&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;font-style:italic;color:#787878;' &gt;Of which: defaulted (*)&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:#787878;' &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;font-style:italic;color:#787878;' &gt;506&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#787878;' &gt;408&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: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:#787878;' &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;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;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: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:#787878;' &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;199&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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: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:#787878;' &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;5.285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.952&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.875&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: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:#787878;' &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;2.902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;2.902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;2.990&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: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:#787878;' &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;27.496&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;29.682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;25.723&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;Households &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:#787878;' &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;182&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;151&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;261&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:303pt;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:61,5pt;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;7.2.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;179.440&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;181.116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;170.511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Loancommitmentsfinancialguaranteesandothercommitments>
  <bbva:Disclosureofreconciliationofchangesinfairvaluemeasurementassetsexplanatory id="ID_129" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:517,5pt;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;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:229,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:229,5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:96pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96pt;' &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 colspan='2' rowspan='1' style='width:96pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96pt;' &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:96pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96pt;' &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:13,5pt;' &gt;&lt;td style='width:229,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:229,5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;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:center;vertical-align:middle;border-color:Black;min-width:48pt;' &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: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:8pt;font-weight:bold;color:#072146;' &gt;Liabilities&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:8pt;font-weight:bold;color:#072146;' &gt;Assets&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:8pt;font-weight:bold;color:#072146;' &gt;Liabilities&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:8pt;font-weight:bold;color:#072146;' &gt;Assets&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: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:229,5pt;border-top-style:solid;border-top-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;Balance at the beginning&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;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.754&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;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2.220&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;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-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:8pt;font-weight:bold;color:#FFFFFF;' &gt;4.115&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;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-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:8pt;font-weight:bold;color:#FFFFFF;' &gt;1.386&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;Changes in fair value recognized in profit and loss (*)&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:8pt;color:#000000;' &gt;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:8pt;color:#000000;' &gt;293&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:8pt;color:#000000;' &gt;112&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:8pt;color:#000000;' &gt;71&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:8pt;color:#000000;' &gt;(167)&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:8pt;color:#000000;' &gt;(28)&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;Changes in fair value not recognized in profit and loss&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:8pt;color:#000000;' &gt;(89)&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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;-&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;Acquisitions, disposals and liquidations (**)&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:8pt;color:#000000;' &gt;(699)&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:8pt;color:#000000;' &gt;(393)&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:8pt;color:#000000;' &gt;5&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:8pt;color:#000000;' &gt;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:8pt;color:#000000;' &gt;2.102&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:8pt;color:#000000;' &gt;2.710&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;Net transfers to Level 3&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:8pt;color:#000000;' &gt;549&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:8pt;color:#000000;' &gt;287&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:8pt;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:8pt;color:#000000;' &gt;(2.751)&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:8pt;color:#000000;' &gt;761&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:8pt;color:#000000;' &gt;47&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;Exchange differences and others&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:8pt;color:#000000;' &gt;(160)&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:8pt;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:8pt;color:#000000;' &gt;31&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:8pt;color:#000000;' &gt;189&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:8pt;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:8pt;color:#000000;' &gt;-&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; Discontinued operations (***)&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:8pt;color:#000000;' &gt;(518)&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:8pt;color:#000000;' &gt;(5)&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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:229,5pt;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2.363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.754&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2.219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &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:48pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4.115&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:229,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:229,5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' &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:Disclosureofreconciliationofchangesinfairvaluemeasurementassetsexplanatory>
  <bbva:Disclosureoftransfersbetweenlevelsassetsexplanatory id="ID_130" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:473,25pt;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:6pt;color:#02A5A5;' &gt;Transfer between Levels. December 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:156pt;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:29,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:29,25pt;' &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:96pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96pt;' &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:96pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96pt;' &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:96pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96pt;' &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:29,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:29,25pt;' &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: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:6pt;font-weight:bold;color:#072146;' &gt;Level 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:6pt;font-weight:bold;color:#072146;' &gt;Level 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:6pt;font-weight:bold;color:#072146;' &gt;Level 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:6pt;font-weight:bold;color:#072146;' &gt;Level 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:6pt;font-weight:bold;color:#072146;' &gt;Level 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: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:29,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:29,25pt;' &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: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: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:6pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:29,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:29,25pt;' &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-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;1.460&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&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;203&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;548&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;98&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:29,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:29,25pt;' &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;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;11&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;-&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;17&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:29,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:29,25pt;' &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;143&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;-&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:29,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:29,25pt;' &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;484&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;135&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;96&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;6&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:6pt;color:#000000;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:29,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:29,25pt;' &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;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:#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;/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: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:29,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:29,25pt;' &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:48pt;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;2.096&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;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&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;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;342&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;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;652&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;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;4&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;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;122&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:29,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:29,25pt;' &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: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:8,25pt;' &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:6pt;color:#000000;' &gt;Financial liabilities held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:29,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:29,25pt;' &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-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&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&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;-&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;268&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;-&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;13&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 liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:29,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:29,25pt;' &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;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:#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;27&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;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:29,25pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:29,25pt;' &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:48pt;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;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;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;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;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;324&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;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;40&lt;/font&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='14' rowspan='1' style='width:526,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:526,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;Transfer between levels (Millions of Euros).&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:156pt;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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='6' rowspan='1' style='width:171pt;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:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='6' rowspan='1' style='width:171pt;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:6pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:156pt;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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57pt;' &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:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57pt;' &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:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57pt;' &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 colspan='2' rowspan='1' style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57pt;' &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:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57pt;' &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:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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 style='width:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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;td style='width:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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 style='width:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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;td style='width:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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 style='width:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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 style='width:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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;td style='width:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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 style='width:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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;td style='width:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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 style='width:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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: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:6pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td 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style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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: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:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' 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style='font-family:Arial;font-size:6pt;color:#000000;' &gt;24&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:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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: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:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;515&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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: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:6pt;color:#000000;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font 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&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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1.305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8,25pt;' &gt;&lt;td style='width: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;font-weight:bold;color:#004481;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:28,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8,25pt;' &gt;&lt;td style='width: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:6pt;color:#000000;' &gt;Financial liabilities held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height: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 liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.679&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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: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;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:28,5pt;' &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:8,25pt;' &gt;&lt;td style='width:156pt;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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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;td style='width:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &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:28,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:28,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoftransfersbetweenlevelsassetsexplanatory>
  <bbva:Tableoftransactionsonbehalfofthirdparties id="ID_131" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:477pt;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:13pt;' &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;font-weight:bold;color:#44546A;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;357.022&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;693.497&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;689.157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;10.459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/tr&gt;&lt;tr style='height:13pt;' &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;Securities lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:308,25pt;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;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;372.766&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;713.759&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;707.508&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoftransactionsonbehalfofthirdparties>
  <bbva:Disclosureofsensitivityanalysislevel3assetsexplanatory id="ID_132" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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: 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;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-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-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:18pt;' &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;10&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;(40)&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:19,5pt;' &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;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;(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;-&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:20,25pt;' &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: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;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;(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;-&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;(31)&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;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;(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;/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;229&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;(60)&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;204&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;(29)&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;15&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;(15)&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;9&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;(16)&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;Financial assets at fair value through other comprehensive income&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;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&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)&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;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;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;239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78,75pt;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;(101)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78,75pt;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;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78,75pt;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;(23)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofsensitivityanalysislevel3assetsexplanatory>
  <bbva:Tableofsignficantunobservableinputsusedinfairvaluemeasurementofassetsexplanatory id="ID_133" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:626,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:626,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Unobservable inputs. December 2020&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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;font-weight:bold;color:#072146;' &gt;Financial instrument&lt;/font&gt;&lt;/td&gt;&lt;td style='width:88,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:88,5pt;' &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:95,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:95,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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: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='3' style='width:88,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:95,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:95,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47,01&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;564,22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:95,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:95,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,06%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:18,75pt;' &gt;&lt;td style='width:95,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:95,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,10%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99,92%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143,87%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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 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/Fund instruments (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:88,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Net Asset Value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:95,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:95,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='2' style='width:297pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:297pt;' &gt;&lt;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:88,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Comparable Pricing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:95,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:95,25pt;' &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: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;Security Finance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:88,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:95,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:95,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,00%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Abs Repo rate&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Credit Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:88,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gaussian Copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:95,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:95,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30,40%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44,87%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60,95%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:88,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Black 76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:95,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:95,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Price Volatility&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:222,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:222,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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='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 Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:88,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Option models on equities, baskets of equity, funds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:95,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:95,25pt;' &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:297pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:297pt;' &gt;&lt;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:95,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:95,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:15,75pt;' &gt;&lt;td style='width:95,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:95,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29,90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;141,77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:20,25pt;' &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 Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:88,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Option models on FX underlyings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:95,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:95,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,00&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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;IR Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:88,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Option models on IR underlyings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:95,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:95,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Beta&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:15,75pt;' &gt;&lt;td style='width:95,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:95,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:95,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:95,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:630pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:630pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Unobservable inputs. December 2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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;font-weight:bold;color:#072146;' &gt;Financial instrument&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Significant unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:97,5pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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='3' style='width:90pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Comparable pricing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:97,5pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;504&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:97,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:97,5pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:18,75pt;' &gt;&lt;td style='width:97,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:97,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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 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 colspan='1' rowspan='2' style='width:90pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Comparable pricing&lt;/font&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:97,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:97,5pt;' &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:297pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:297pt;' &gt;&lt;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:97,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:97,5pt;' &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;border-bottom-style:solid;border-bottom-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:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gaussian Copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:97,5pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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: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:90pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Heston&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:97,5pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Local volatility&lt;/font&gt;&lt;/td&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:8pt;color:#000000;' &gt;Dividends (**)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:297pt;text-align:center;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:297pt;' &gt;&lt;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: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:8pt;color:#000000;' &gt;Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Black Scholes/Local Vol&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:97,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:90pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Libor Market Model&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:97,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Beta&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:15,75pt;' &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:8pt;color:#000000;' &gt;Correlation rate/Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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: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:8pt;color:#000000;' &gt;Credit default Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:636,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:636,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Unobservable inputs. December 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&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: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;Financial instrument&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:96pt;' &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: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:#072146;' &gt;Significant unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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: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='3' style='width:96pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &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: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;Credit spread&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;385&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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: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;Recovery rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32,06%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:18,75pt;' &gt;&lt;td style='width:98,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:98,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88,00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;275,00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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 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 colspan='1' rowspan='2' style='width:96pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Comparable pricing&lt;/font&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:98,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;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='2' style='width:297pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:297pt;' &gt;&lt;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:98,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;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;/tr&gt;&lt;tr style='height:15pt;' &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: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:96pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &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: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;color:#000000;' &gt;Correlation default&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,98%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60,26%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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: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:96pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Heston&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:98,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47,05&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47,05&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47,05&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:96pt;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &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: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;Dividends (**)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:297pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:297pt;' &gt;&lt;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: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;Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,79&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;65,02&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:96pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &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: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;color:#000000;' &gt;Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,05&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:96pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &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: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;Beta&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,00&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:15,75pt;' &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;Correlation rate/Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:98,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:98,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit default Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:Interestincomebreakdownbyorigin id="ID_134" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:498pt;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;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: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;font-weight:bold;color:#004481;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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;Financial assets held for trading&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;1.189&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;2.037&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;2.055&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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: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;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.629&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.620&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.357&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22.741&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22.029&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Insurance activity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.021&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;1.079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.141&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Adjustments of income as a result of hedging transactions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(112)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(72)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(162)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Other income (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;534&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;343&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:313,5pt;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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;22.389&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;27.762&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;26.954&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Interestincomebreakdownbyorigin>
  <bbva:Interestexpensesbreakdownbyorigin id="ID_135" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:418,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:418,5pt;' &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:276,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:276,75pt;' &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: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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;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: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 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;742&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;1.229&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;1.210&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 liabilities 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:8pt;color:#000000;' &gt;61&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&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;41&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 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;6.346&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;9.953&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;9.757&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 expense as a result of hedging transactions&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;(413)&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;(250)&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;(351)&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: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;721&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;753&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;832&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;Cost attributable to pension funds&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;57&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;85&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;71&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;Other expense&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;284&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;196&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;108&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;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:47,25pt;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;7.797&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;11.972&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;11.669&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Interestexpensesbreakdownbyorigin>
  <bbva:Tableofdividendincomeexplanatory id="ID_136" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11,25pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family: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:22,5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;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:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;137&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdividendincomeexplanatory>
  <bbva:DisclosureFeeAndCommissionIncomeExplanatory id="ID_137" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:456,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:456,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Fee and commission income. 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: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;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/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;color:#000000;' &gt;Bills receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;322&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;301&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Credit and debit cards and ATMs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.862&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.690&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:bottom;border-color:Black;min-width:255,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Checks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;555&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;595&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;169&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;185&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;183&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;377&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;374&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.026&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;986&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Securities fees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;301&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;556&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;564&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:255,75pt;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:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;5.980&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;6.786&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;6.462&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:DisclosureFeeAndCommissionIncomeExplanatory>
  <bbva:DisclosureFeeAndCommissionExpenseExplanatory id="ID_138" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:439,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:439,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Fee and commission 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: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;font-weight:bold;color:#072146;' &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:8pt;font-weight:bold;color:#072146;' &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:8pt;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;Demand accounts&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;5&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;6&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;11&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;Credit and debit cards&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;1.130&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;1.566&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;1.403&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;Transfers and other payment orders&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;97&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;81&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;36&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;Commissions for selling insurance&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;54&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;54&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;48&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;Custody 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;&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;52&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;30&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;29&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;Other fees and commissions&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;519&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;548&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;531&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;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:47,25pt;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;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;1.857&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;2.284&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;2.059&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:DisclosureFeeAndCommissionExpenseExplanatory>
  <bbva:Disclosureoffairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsexplanatory id="ID_139" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:452,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:452,25pt;' &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;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-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;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:105,75pt;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-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:center;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#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:center;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#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:center;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#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:center;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#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:center;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#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:center;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#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:center;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#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:center;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#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:center;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#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;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;65.355&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;165&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;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;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;35.196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15.066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;324.005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29.391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;217.279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;196.119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21.419&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;204.619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;193.819&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:#004481;' &gt;LIABILITIES&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;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35,25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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;90.839&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;255.278&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;144.889&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:Disclosureofmainvaluationtechniquesfinancialinstrumentsassetsexplanatory id="ID_140" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13,5pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:762,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:762,75pt;' &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 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:112,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:112,5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:148,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:148,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:148,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:148,5pt;' &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 colspan='2' rowspan='1' style='width:148,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:148,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:108,75pt;text-align:center;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;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:96pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96pt;' &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:13,5pt;' &gt;&lt;td style='width:112,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:112,5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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 style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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 style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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 style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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 style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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 style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:112,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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: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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:96pt;' &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:112,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;15.066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;324.005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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 style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;204.619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;193.819&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' 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:7,65pt;font-weight:bold;color:#003366;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &gt;&lt;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:112,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96pt;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &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:112,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.934&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.291&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96pt;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &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:112,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.904&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;310.924&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;190.666&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;183.645&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96pt;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &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:112,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;440&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.881&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &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:112,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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: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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &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:112,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;255.278&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;144.889&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;269.128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;182.948&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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &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:21pt;' &gt;&lt;td style='width:112,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &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:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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: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:7,65pt;font-weight:bold;color:#003366;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:96pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:96pt;' &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:38,25pt;' &gt;&lt;td style='width:112,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22.914&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.633&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22.281&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.852&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19,5pt;' &gt;&lt;td style='width:112,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;210.097&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;129.525&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;135.514&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;240.547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;135.270&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17,25pt;' &gt;&lt;td style='width:112,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14.413&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.848&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11.133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.104&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25.096&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17,25pt;' &gt;&lt;td style='width:112,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:112,5pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.854&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.676&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &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:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:74,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:74,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.730&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofmainvaluationtechniquesfinancialinstrumentsassetsexplanatory>
  <bbva:Gainsorlossesonfinancialassetsandliabilitiesandexchangedifferencesbreakdownbyheadingotheconsolidatedincomestatements id="ID_141" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:576,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:576,75pt;' &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:30pt;' &gt;&lt;td style='width:381,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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;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: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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20,45pt;' &gt;&lt;td style='width:381,75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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: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;139&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;186&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;191&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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:#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;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;color:#666666;' &gt;44&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:#666666;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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:#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;color:#666666;' &gt;33&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:#666666;' &gt;141&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:#666666;' &gt;155&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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;777&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;419&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;640&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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:#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;color:#666666;' &gt;777&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:#666666;' &gt;419&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:#666666;' &gt;640&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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;208&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;143&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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:#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;color:#666666;' &gt;208&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:#666666;' &gt;143&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:#666666;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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;56&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;(98)&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;139&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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;7&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;69&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:381,75pt;' &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:48,75pt;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;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;1.187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;1.136&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange differences, net&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;359&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;581&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;/tr&gt;&lt;tr style='height:12,6pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:381,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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;1.546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;1.286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;1.148&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Gainsorlossesonfinancialassetsandliabilitiesandexchangedifferencesbreakdownbyheadingotheconsolidatedincomestatements>
  <bbva:Gainsorlossesonfinancialassetsandliabilitiesandexchangedifferencesbreakdownbynatureofthefinancialinstrument id="ID_142" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:498pt;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;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: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;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: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-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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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:bottom;border-color:Black;min-width:303pt;' &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: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;848&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;945&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;354&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:bottom;border-color:Black;min-width:303pt;' &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: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;(28)&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;1.336&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;(253)&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:bottom;border-color:Black;min-width:303pt;' &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: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;277&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;(1.133)&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;858&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:bottom;border-color:Black;min-width:303pt;' &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: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;128&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;78&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;(190)&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:bottom;border-color:Black;min-width:303pt;' &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: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;(79)&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)&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;239&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:bottom;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&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;42&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;(497)&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;127&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;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:48,75pt;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;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;1.187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;1.136&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Gainsorlossesonfinancialassetsandliabilitiesandexchangedifferencesbreakdownbynatureofthefinancialinstrument>
  <bbva:Derivativeshedgeaccountingincome id="ID_143" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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-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;2020&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-weight:bold;color:#004481;' &gt;2019&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-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width: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;Interest rate 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;269&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;(85)&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;61&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;(36)&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;(1.072)&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;298&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;1&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;5&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;/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;(89)&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;/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;88&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;(75)&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;565&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;Other 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;37&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;(35)&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;(24)&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;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;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;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;270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;(1.187)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;790&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: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;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;5&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;55&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;68&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;(151)&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;(36)&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;(135)&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;156&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;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;color:#666666;' &gt;203&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: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;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;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;-&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&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;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;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;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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;69&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;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;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;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;277&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;(1.133)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;858&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Derivativeshedgeaccountingincome>
  <bbva:OtherOperatingExpenseExplanatory id="ID_144" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:435pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:435pt;' &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: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-weight:bold;color:#0A5FB4;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Change in inventories&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;124&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;107&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;292&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Contributions to guaranteed banks deposits funds &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;800&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;746&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;670&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Hyperinflation adjustment (*)&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;348&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;538&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;494&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 operating 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;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;390&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;551&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;565&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;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:48,75pt;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;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;1.662&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;1.943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;2.021&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:OtherOperatingExpenseExplanatory>
  <bbva:OtherOperatingIncomeExplanatory id="ID_145" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:461,25pt;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:8pt;color:#02A5A5;' &gt;Other operating income (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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;font-weight:bold;color:#072146;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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 from sales of non-financial services&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;244&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;258&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;458&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;Hyperinflation adjustment (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;94&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&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;Other operating income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;235&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:276,75pt;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:61,5pt;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;492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;639&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;929&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:OtherOperatingIncomeExplanatory>
  <bbva:Tableofinsuranceandreinsurancecontractsincomeandexpensesexplanatory id="ID_146" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:403,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:403,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Income and expense from 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: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;font-weight:bold;color:#0A5FB4;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;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: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;Income from 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;2.497&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;/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;Expense from insurance and reinsurance contracts&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;(1.520)&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;(1.751)&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;(1.894)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:208,5pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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;977&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofinsuranceandreinsurancecontractsincomeandexpensesexplanatory>
  <bbva:Incomebytypeofinsuranceproduct id="ID_147" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-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;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;497&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;/tr&gt;&lt;tr style='height:13,5pt;' &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;439&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;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;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;/tr&gt;&lt;tr style='height:13,5pt;' &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;346&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;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;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;/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;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&lt;tr style='height:13,5pt;' &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;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;Other non-life insurance products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;389&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;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;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;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;977&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Incomebytypeofinsuranceproduct>
  <bbva:Personnelexpensesbreakdownexplanatory id="ID_148" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:501,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:501,75pt;' &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: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;font-weight:bold;color:#072146;' &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;font-weight:bold;color:#072146;' &gt;Notes&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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;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;Wages and salaries&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;3.610&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;4.103&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;4.031&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &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;Social security costs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;671&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;725&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;670&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;Defined contribution plan expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;72&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;Defined benefit plan expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align: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;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;58&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &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;Other personnel expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;373&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;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:56,25pt;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;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;4.695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;5.351&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;5.205&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Personnelexpensesbreakdownexplanatory>
  <bbva:Otheradministrativeexpensesexplanatory id="ID_149" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:435,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:435,75pt;' &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: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-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Technology and systems&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.088&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.060&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.000&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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Communications &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;193&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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Advertising&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;186&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;265&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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Property, fixtures and materials&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;865&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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Taxes other than income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;378&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:12pt;' &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;Surveillance and cash courier services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;177&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Other expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;749&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;885&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;921&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: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:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.105&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.418&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.816&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Otheradministrativeexpensesexplanatory>
  <bbva:Tableofdepreciationandamortisationexpenseexplanatory id="ID_150" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:444,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:444,75pt;' &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:22,5pt;' &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:8pt;font-weight:bold;color:#072146;' &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;font-weight:bold;color:#072146;' &gt;Notes&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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;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: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:8pt;color:#000000;' &gt;Tangible assets&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;17&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;781&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;876&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;533&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:8pt;color:#666666;' &gt;For own use&lt;/font&gt;&lt;/td&gt;&lt;td 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:#666666;' &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:#666666;' &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:#666666;' &gt;523&lt;/font&gt;&lt;/td&gt;&lt;td 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:#666666;' &gt;529&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:8pt;color:#666666;' &gt;Right-of-use assets&lt;/font&gt;&lt;/td&gt;&lt;td 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:#666666;' &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:#666666;' &gt;324&lt;/font&gt;&lt;/td&gt;&lt;td 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:#666666;' &gt;349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:63pt;' &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: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:8pt;color:#666666;' &gt;Investment properties and other&lt;/font&gt;&lt;/td&gt;&lt;td 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:#666666;' &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:#666666;' &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:8pt;color:#666666;' &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:8pt;color:#666666;' &gt;5&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:8pt;color:#000000;' &gt;Intangible assets&lt;/font&gt;&lt;/td&gt;&lt;td 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;18.2&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;507&lt;/font&gt;&lt;/td&gt;&lt;td 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;510&lt;/font&gt;&lt;/td&gt;&lt;td 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;500&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;background-color:#5AC4C4;border-color:Black;min-width:192,75pt;' &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:63pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;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;1.288&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;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;1.386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;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;1.034&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdepreciationandamortisationexpenseexplanatory>
  <bbva:Tableofprovisionsexplanatory id="ID_151" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:581,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:581,25pt;' &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:22,5pt;' &gt;&lt;td style='width:350,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:350,25pt;' &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: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;font-weight:bold;color:#072146;' &gt;Notes&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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;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:350,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:350,25pt;' &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: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;25 &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;210 &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;213 &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;125 &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:middle;border-color:Black;min-width:350,25pt;' &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: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;192 &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;96 &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;(27)&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:middle;border-color:Black;min-width:350,25pt;' &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: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;208 &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;171 &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;135 &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:middle;border-color:Black;min-width:350,25pt;' &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: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;136 &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;133 &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;162 &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:middle;background-color:#5AC4C4;border-color:Black;min-width:350,25pt;' &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:57,75pt;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;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;746&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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;614&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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;395&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofprovisionsexplanatory>
  <bbva:Tableofimpairmentorreversalofimpairmentonfinancialassetsnotmeasuredatfairvaluethroughprofitorlossexplanatory id="ID_152" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:25,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:471,75pt;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 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:23,25pt;' &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;font-weight:bold;color:#0A5FB4;' &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:8pt;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: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;2020&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;font-weight:bold;color:#072146;' &gt;2019 (*)&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;font-weight:bold;color:#072146;' &gt;2018 (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:34,5pt;' &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:9pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income - Debt securities&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: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;19 &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;82 &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 &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:9pt;color:#000000;' &gt;Financial assets at amortized cost (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;text-align:center;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;5.160&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;3.470&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;3.680&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;font-style:italic;color:#666666;' &gt;Of which: recovery of written-off assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:48,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;7.2.5&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:#666666;' &gt;(339)&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:#666666;' &gt;(919)&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:#666666;' &gt;(589)&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;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:48,75pt;text-align:center;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;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;5.179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;3.552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;3.681&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofimpairmentorreversalofimpairmentonfinancialassetsnotmeasuredatfairvaluethroughprofitorlossexplanatory>
  <bbva:Tableofimpairmentorreversalofimpairmentonnonfinancialassetsexplanatory id="ID_153" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:381pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:381pt;' &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:37,5pt;' &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:8pt;font-weight:bold;color:#0A5FB4;' &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-weight:bold;color:#072146;' &gt;Notes&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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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:8pt;color:#000000;' &gt;Tangible assets&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&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;125&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;94&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Intangible 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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Others   &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;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;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &gt;&lt;font 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;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;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;153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;137&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofimpairmentorreversalofimpairmentonnonfinancialassetsexplanatory>
  <bbva:Tableofprofitorlossfromnoncurrentassetsanddisposalgroupsclassifiedasheldforsalenotqualifyingasdiscontinuedoperationsexplanatory id="ID_154" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:533,25pt;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;Gains (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:23,25pt;' &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;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:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/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;Gains on sale of real estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;/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;Impairment of non-current assets held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(103)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(72)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(206)&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;Gains (losses) on sale of investments classified as non-current assets held for sale (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;431&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;894&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;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:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;444&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;815&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofprofitorlossfromnoncurrentassetsanddisposalgroupsclassifiedasheldforsalenotqualifyingasdiscontinuedoperationsexplanatory>
  <bbva:Principalgeographicalareasgdp id="ID_155" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:799,5pt;text-align:left;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:799,5pt;' &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:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:184,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:184,5pt;' &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 colspan='3' rowspan='1' style='width:184,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:184,5pt;' &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 colspan='3' rowspan='1' style='width:184,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:184,5pt;' &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 colspan='3' rowspan='1' style='width:184,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:184,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &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:6pt;font-weight:bold;color:#072146;' &gt;Date&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2019&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:6pt;color:#000000;' &gt;0,96%&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:6pt;color:#000000;' &gt;1,54%&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:6pt;color:#000000;' &gt;2,15%&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:6pt;color:#000000;' &gt;(0,58%)&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:6pt;color:#000000;' &gt;0,23%&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:6pt;color:#000000;' &gt;1,06%&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:6pt;color:#000000;' &gt;(0,60%)&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:6pt;color:#000000;' &gt;3,32%&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:6pt;color:#000000;' &gt;7,06%&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:6pt;color:#000000;' &gt;1,16%&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:6pt;color:#000000;' &gt;2,12%&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:6pt;color:#000000;' &gt;3,13%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:12,75pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:648,75pt;text-align:left;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:648,75pt;' &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:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:195,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:195,75pt;' &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:195,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:195,75pt;' &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:195,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:195,75pt;' &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:16,5pt;' &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:6pt;font-weight:bold;color:#072146;' &gt;Date&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:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&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:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&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:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&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:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&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:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&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:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&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:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&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:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&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:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2019&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:6pt;color:#000000;' &gt;0,34%&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:6pt;color:#000000;' &gt;2,92%&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:6pt;color:#000000;' &gt;5,43%&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:6pt;color:#000000;' &gt;(7,41%)&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:6pt;color:#000000;' &gt;(2,47%)&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:6pt;color:#000000;' &gt;2,40%&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:6pt;color:#000000;' &gt;1,93%&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:6pt;color:#000000;' &gt;3,29%&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:6pt;color:#000000;' &gt;4,58%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:12,75pt;' &gt;&lt;td style='width:61,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &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:Tableofconsolidatedstatementofcashflow id="ID_156" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16,5pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:692,25pt;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;Liabilities from financing activities. December 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:194,25pt;text-align:left;vertical-align:top;border-color:Black;min-width:194,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:62,25pt;text-align:center;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;December 31, 2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:62,25pt;text-align:center;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;Cash flows &lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:311,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:311,25pt;' &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:62,25pt;text-align:center;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;December 31, 2020&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:194,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:top;border-color:Black;min-width:194,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &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:center;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;Acquisition&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:center;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;Disposal&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:center;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;Disposals by companies held for sale (**)&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:center;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;Foreign exchange movement&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:center;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;Fair value changes&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20,25pt;' &gt;&lt;td style='width:194,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:194,25pt;' &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: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:#333333;' &gt;63.963 &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:#333333;' &gt;3.003 &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:#333333;' &gt;-&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:#333333;' &gt;-&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:#333333;' &gt;(3.160)&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:#333333;' &gt;(2.026)&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:#333333;' &gt;-&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:#333333;' &gt;61.780 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24,75pt;' &gt;&lt;td style='width:194,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:194,25pt;' &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: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;font-style:italic;color:#666666;' &gt;17.675 &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;font-style:italic;color:#666666;' &gt;(8)&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;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(419)&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;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;17.248 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofconsolidatedstatementofcashflow>
  <bbva:Tableofauditorremunerationexplanatory id="ID_157" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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:24,9pt;' &gt;&lt;td style='width:350,25pt;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-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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;27,7&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;/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;1,3&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;/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;0,2&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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofauditorremunerationexplanatory>
  <bbva:Disclosureofauditorsremunerationforotherservicesexplanatory id="ID_158" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;0,4&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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofauditorsremunerationforotherservicesexplanatory>
  <bbva:Tableofauditorremunerationandotherservicesprovided id="ID_159" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;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: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;6,5&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;/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;5,4&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;/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;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;/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;0,3&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;0,9&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;0,8&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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofauditorremunerationandotherservicesprovided>
  <bbva:Disclosurebalancesarisingfromtransactionswithentitiesofthegroupexplanatory id="ID_160" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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:25,5pt;' &gt;&lt;td style='width:224,25pt;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-bottom-style:solid;border-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-bottom-style:solid;border-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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;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;text-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;&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: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;Loans and advances to 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;148&lt;/font&gt;&lt;/td&gt;&lt;td 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;132&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;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td 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;1.743&lt;/font&gt;&lt;/td&gt;&lt;td 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;1.682&lt;/font&gt;&lt;/td&gt;&lt;td 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;1.866&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;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td 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;/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;Deposits from 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;&lt;/font&gt;&lt;/td&gt;&lt;td 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;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:8pt;color:#000000;' &gt;2&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;791&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size: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;/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;font-weight:bold;color:#004481;' &gt;Memorandum accounts&lt;/font&gt;&lt;/td&gt;&lt;td 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;/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;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;132&lt;/font&gt;&lt;/td&gt;&lt;td 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;166&lt;/font&gt;&lt;/td&gt;&lt;td 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;152&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;1.400&lt;/font&gt;&lt;/td&gt;&lt;td 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;/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;Loan 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;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size: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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurebalancesarisingfromtransactionswithentitiesofthegroupexplanatory>
  <bbva:Disclosurebalanceofincomestatementarisingfromtransactionswithentitiesofthegroupexplanatory id="ID_161" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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-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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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: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;text-align:right;vertical-align:middle;border-color:Black;min-width:43,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/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;Interest and other 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;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&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;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;/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;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;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;/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;34&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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurebalanceofincomestatementarisingfromtransactionswithentitiesofthegroupexplanatory>
  <bbva:Basicanddelutedearningspershare id="ID_162" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:542,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:542,25pt;' &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:13,5pt;' &gt;&lt;td style='width:373,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &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: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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019 (**)&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;font-weight:bold;color:#072146;' &gt;2018 (**)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:373,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &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:12,75pt;' &gt;&lt;td style='width:373,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &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;1.305&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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:373,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &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;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(387)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:373,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &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;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;917&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;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;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:373,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;Of which: profit from discontinued operations (net of non-controlling interest) (B) (See Note 21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(1.729)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;704&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:373,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &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-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-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-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:12,75pt;' &gt;&lt;td style='width:373,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &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;6.668&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:373,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &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;text-align: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;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:373,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &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-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;6.655&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;font-weight:bold;color:#004481;' &gt;6.648&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;font-weight:bold;color:#004481;' &gt;6.636&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:373,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &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;6.655&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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:373,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Earnings (losses) 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;0,14&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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:373,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Basic earnings (losses) 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;0,40&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;0,58&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;0,64&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:373,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Diluted earnings (losses) 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;0,40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,64&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:373,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Basic earnings (losses) per share from discontinued operations (Euros per share)B/C&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(0,26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(0,11)&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;0,11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:373,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:373,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Diluted earnings (losses) per share from discontinued operations (Euros per share)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;(0,26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(0,11)&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;0,11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Basicanddelutedearningspershare>
  <bbva:TableOfDefinedBenefitCommitments id="ID_163" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:528,75pt;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: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;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:183,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:183,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2019: Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:183,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:183,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018: 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:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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;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;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(18)&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 &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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&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 &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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(67)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(90)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(50)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8,25pt;' &gt;&lt;td style='width: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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(12)&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 gains and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(702)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(763)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;Business combinations and disposals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4.326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:Tableofpercentajetreasurystock id="ID_164" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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;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-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:7pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' 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: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-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:7pt;font-weight:bold;color:#072146;' &gt;2018&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:13,5pt;' &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;0,008%&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;0,464%&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;0,215%&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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofpercentajetreasurystock>
  <bbva:Sensibilityto1 id="ID_165" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11,25pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:251,25pt;text-align:left;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:251,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Sensitivity to 1% (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:66,75pt;text-align:left;vertical-align:bottom;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:61,5pt;text-align: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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:66,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;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&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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:66,75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexican peso&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;4,9&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;12,7&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;13,0&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:66,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkish lira&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,5&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;3,1&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;3,0&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:66,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Peruvian sol&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;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;1,3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:66,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Chilean peso&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,3&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;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;0,7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:66,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Colombian peso&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,4&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;2,6&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;1,9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:66,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Argentine peso&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,9&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;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;(0,3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:66,75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:66,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;US Dollar &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,3&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;5,9&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;7,3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sensibilityto1>
  <bbva:Variationinexpectedloss id="ID_166" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,75pt;' &gt;&lt;td colspan='15' rowspan='1' style='width:943,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:943,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Expected loss variation&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:82,5pt;text-align:left;vertical-align:bottom;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 colspan='5' rowspan='1' style='width:307,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:307,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;BBVA Group&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-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;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;Spain&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-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;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;Mexico&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-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;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;Turkey&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &gt;&lt;td style='width:82,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;GDP&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Total Portfolio&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Retail&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;font-style:italic;color:#072146;' &gt;Mortgages&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Wholesaler&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Fixed income&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Total Portfolio&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Mortgages&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Companies&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Total Portfolio&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Mortgages&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Cards&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Total Portfolio&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Mortgages&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;Cards&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:82,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:82,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-100pb&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:6pt;color:#000000;' &gt;3,55%&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:6pt;color:#000000;' &gt;3,47%&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:6pt;font-style:italic;color:#000000;' &gt;3,72%&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:6pt;color:#000000;' &gt;3,91%&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:6pt;color:#000000;' &gt;1,58%&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:6pt;color:#000000;' &gt;3,72%&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:6pt;color:#000000;' &gt;4,39%&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:6pt;color:#000000;' &gt;3,96%&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:6pt;color:#000000;' &gt;3,91%&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:6pt;color:#000000;' &gt;2,20%&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:6pt;color:#000000;' &gt;6,30%&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:6pt;color:#000000;' &gt;1,56%&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:6pt;color:#000000;' &gt;1,58%&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:6pt;color:#000000;' &gt;1,62%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:82,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:82,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;+100pb&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,25%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,14%)&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:6pt;font-style:italic;color:#000000;' &gt;(3,03%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,69%)&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:6pt;color:#000000;' &gt;(1,97%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,53%)&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:6pt;color:#000000;' &gt;(3,64%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5,78%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,47%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,55%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,47%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:82,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;Housing price&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:82,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:82,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-100pb&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;&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;&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:6pt;color:#000000;' &gt;5,41%&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:6pt;color:#000000;' &gt;0,79%&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:6pt;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:6pt;color:#000000;' &gt;3,13%&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:6pt;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:6pt;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:6pt;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:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:82,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:82,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;+100pb&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5,35%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(0,77%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#000000;' &gt;(4,47%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;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:6pt;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:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Variationinexpectedloss>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_167" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="INF">3692000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_168" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="INF">4240000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_169" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="INF">4058000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_170" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaperuMember" unitRef="EUR" decimals="INF">1171000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_171" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaperuMember" unitRef="EUR" decimals="INF">1334000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_172" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaperuMember" unitRef="EUR" decimals="INF">1167000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_173" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaargentinaMember" unitRef="EUR" decimals="INF">416000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_174" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaargentinaMember" unitRef="EUR" decimals="INF">422000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_175" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaargentinaMember" unitRef="EUR" decimals="INF">352000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_176" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="INF">70000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_177" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="INF">76000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_178" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="INF">67000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_179" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GroupsAxis_bbva_BbvavenezuelaMember" unitRef="EUR" decimals="INF">65000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_180" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_BbvavenezuelaMember" unitRef="EUR" decimals="INF">71000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
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  <bbva:Hedginginstruments id="ID_276" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">0</bbva:Hedginginstruments>
  <bbva:Hedginginstruments id="ID_277" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">0</bbva:Hedginginstruments>
  <bbva:Amountreclassifiedtoothercomprehensiveincomefromprofitorlossapplyingoverlayapproachnetoftaxbalance id="ID_278" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">644000000</bbva:Amountreclassifiedtoothercomprehensiveincomefromprofitorlossapplyingoverlayapproachnetoftaxbalance>
  <bbva:Amountreclassifiedtoothercomprehensiveincomefromprofitorlossapplyingoverlayapproachnetoftaxbalance id="ID_279" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">-18000000</bbva:Amountreclassifiedtoothercomprehensiveincomefromprofitorlossapplyingoverlayapproachnetoftaxbalance>
  <bbva:Amountreclassifiedtoothercomprehensiveincomefromprofitorlossapplyingoverlayapproachnetoftaxbalance id="ID_280" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">1000000</bbva:Amountreclassifiedtoothercomprehensiveincomefromprofitorlossapplyingoverlayapproachnetoftaxbalance>
  <bbva:Shareofothercomprehensiveincomeofassociatesandjointventuresaccountedforusingequitymethodthatwillbereclassifiedtoprofitorlossnetoftaxbalance id="ID_281" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">-17000000</bbva:Shareofothercomprehensiveincomeofassociatesandjointventuresaccountedforusingequitymethodthatwillbereclassifiedtoprofitorlossnetoftaxbalance>
  <bbva:Shareofothercomprehensiveincomeofassociatesandjointventuresaccountedforusingequitymethodthatwillbereclassifiedtoprofitorlossnetoftaxbalance id="ID_282" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">-5000000</bbva:Shareofothercomprehensiveincomeofassociatesandjointventuresaccountedforusingequitymethodthatwillbereclassifiedtoprofitorlossnetoftaxbalance>
  <bbva:Shareofothercomprehensiveincomeofassociatesandjointventuresaccountedforusingequitymethodthatwillbereclassifiedtoprofitorlossnetoftaxbalance id="ID_283" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">-29000000</bbva:Shareofothercomprehensiveincomeofassociatesandjointventuresaccountedforusingequitymethodthatwillbereclassifiedtoprofitorlossnetoftaxbalance>
  <ifrs-full:AccumulatedOtherComprehensiveIncome id="ID_284" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">-14356000000</ifrs-full:AccumulatedOtherComprehensiveIncome>
  <ifrs-full:AccumulatedOtherComprehensiveIncome id="ID_285" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">-10226000000</ifrs-full:AccumulatedOtherComprehensiveIncome>
  <ifrs-full:AccumulatedOtherComprehensiveIncome id="ID_286" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">-10223000000</ifrs-full:AccumulatedOtherComprehensiveIncome>
  <bbva:Financialinstrumentsentrustedbythirdparties id="ID_287" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">357022000000</bbva:Financialinstrumentsentrustedbythirdparties>
  <bbva:Financialinstrumentsentrustedbythirdparties id="ID_288" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">693497000000</bbva:Financialinstrumentsentrustedbythirdparties>
  <bbva:Financialinstrumentsentrustedbythirdparties id="ID_289" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">689157000000</bbva:Financialinstrumentsentrustedbythirdparties>
  <bbva:Conditionalbillsandothersecuritiesreceivedforcollection id="ID_290" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">10459000000</bbva:Conditionalbillsandothersecuritiesreceivedforcollection>
  <bbva:Conditionalbillsandothersecuritiesreceivedforcollection id="ID_291" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">13133000000</bbva:Conditionalbillsandothersecuritiesreceivedforcollection>
  <bbva:Conditionalbillsandothersecuritiesreceivedforcollection id="ID_292" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">13484000000</bbva:Conditionalbillsandothersecuritiesreceivedforcollection>
  <bbva:Securitieslending id="ID_293" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">5285000000</bbva:Securitieslending>
  <bbva:Securitieslending id="ID_294" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">7129000000</bbva:Securitieslending>
  <bbva:Securitieslending id="ID_295" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">4866000000</bbva:Securitieslending>
  <bbva:Totaltransactionsthirdparties id="ID_296" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">372766000000</bbva:Totaltransactionsthirdparties>
  <bbva:Totaltransactionsthirdparties id="ID_297" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">713759000000</bbva:Totaltransactionsthirdparties>
  <bbva:Totaltransactionsthirdparties id="ID_298" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">707508000000</bbva:Totaltransactionsthirdparties>
  <ifrs-full:InterestIncomeOnAvailableforsaleFinancialAssets id="ID_299" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">1189000000</ifrs-full:InterestIncomeOnAvailableforsaleFinancialAssets>
  <ifrs-full:InterestIncomeOnAvailableforsaleFinancialAssets id="ID_300" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">2037000000</ifrs-full:InterestIncomeOnAvailableforsaleFinancialAssets>
  <ifrs-full:InterestIncomeOnAvailableforsaleFinancialAssets id="ID_301" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">2055000000</ifrs-full:InterestIncomeOnAvailableforsaleFinancialAssets>
  <bbva:Financialassetsatfairvaluethroughprofitandloss id="ID_302" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">8000000</bbva:Financialassetsatfairvaluethroughprofitandloss>
  <bbva:Financialassetsatfairvaluethroughprofitandloss id="ID_303" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">5000000</bbva:Financialassetsatfairvaluethroughprofitandloss>
  <bbva:Financialassetsatfairvaluethroughprofitandloss id="ID_304" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">4000000</bbva:Financialassetsatfairvaluethroughprofitandloss>
  <bbva:Interestexpensesfinancialliabilitiesheldfortrading id="ID_305" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">742000000</bbva:Interestexpensesfinancialliabilitiesheldfortrading>
  <bbva:Interestexpensesfinancialliabilitiesheldfortrading id="ID_306" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">1229000000</bbva:Interestexpensesfinancialliabilitiesheldfortrading>
  <bbva:Interestexpensesfinancialliabilitiesheldfortrading id="ID_307" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">1210000000</bbva:Interestexpensesfinancialliabilitiesheldfortrading>
  <bbva:Interestexpensefinancialliabilitiesatfairvaluethroughprofitorloss id="ID_308" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">61000000</bbva:Interestexpensefinancialliabilitiesatfairvaluethroughprofitorloss>
  <bbva:Interestexpensefinancialliabilitiesatfairvaluethroughprofitorloss id="ID_309" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">6000000</bbva:Interestexpensefinancialliabilitiesatfairvaluethroughprofitorloss>
  <bbva:Interestexpensefinancialliabilitiesatfairvaluethroughprofitorloss id="ID_310" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">41000000</bbva:Interestexpensefinancialliabilitiesatfairvaluethroughprofitorloss>
  <bbva:FinancialliabilitiesatamortizedcostUSAStatement id="ID_311" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">6346000000</bbva:FinancialliabilitiesatamortizedcostUSAStatement>
  <bbva:FinancialliabilitiesatamortizedcostUSAStatement id="ID_312" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">9953000000</bbva:FinancialliabilitiesatamortizedcostUSAStatement>
  <bbva:FinancialliabilitiesatamortizedcostUSAStatement id="ID_313" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">9757000000</bbva:FinancialliabilitiesatamortizedcostUSAStatement>
  <bbva:Costrectificationfromaccountinghedges id="ID_314" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">-413000000</bbva:Costrectificationfromaccountinghedges>
  <bbva:Costrectificationfromaccountinghedges id="ID_315" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">-250000000</bbva:Costrectificationfromaccountinghedges>
  <bbva:Costrectificationfromaccountinghedges id="ID_316" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">-351000000</bbva:Costrectificationfromaccountinghedges>
  <bbva:Interestexpenseoninsuranceactivity id="ID_317" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">721000000</bbva:Interestexpenseoninsuranceactivity>
  <bbva:Interestexpenseoninsuranceactivity id="ID_318" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">753000000</bbva:Interestexpenseoninsuranceactivity>
  <bbva:Interestexpenseoninsuranceactivity id="ID_319" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">832000000</bbva:Interestexpenseoninsuranceactivity>
  <bbva:Costfrompensionsfunds id="ID_320" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">57000000</bbva:Costfrompensionsfunds>
  <bbva:Costfrompensionsfunds id="ID_321" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">85000000</bbva:Costfrompensionsfunds>
  <bbva:Costfrompensionsfunds id="ID_322" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">71000000</bbva:Costfrompensionsfunds>
  <bbva:Interesteexpeneonotherexpense id="ID_323" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">284000000</bbva:Interesteexpeneonotherexpense>
  <bbva:Interesteexpeneonotherexpense id="ID_324" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">196000000</bbva:Interesteexpeneonotherexpense>
  <bbva:Interesteexpeneonotherexpense id="ID_325" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">108000000</bbva:Interesteexpeneonotherexpense>
  <bbva:Totalinterestexpense id="ID_326" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">7797000000</bbva:Totalinterestexpense>
  <bbva:Totalinterestexpense id="ID_327" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">11972000000</bbva:Totalinterestexpense>
  <bbva:Totalinterestexpense id="ID_328" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">11669000000</bbva:Totalinterestexpense>
  <ifrs-full:RevenueFromDividends id="ID_329" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_ClassesOfAssetsAxis_bbva_FinancialassetsatfairvaluethroughprofitorlossnotclassifiedasheldfortradingMember" unitRef="EUR" decimals="INF">15000000</ifrs-full:RevenueFromDividends>
  <ifrs-full:RevenueFromDividends id="ID_330" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_ClassesOfAssetsAxis_bbva_FinancialassetsatfairvaluethroughprofitorlossnotclassifiedasheldfortradingMember" unitRef="EUR" decimals="INF">26000000</ifrs-full:RevenueFromDividends>
  <ifrs-full:RevenueFromDividends id="ID_331" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ClassesOfAssetsAxis_bbva_FinancialassetsatfairvaluethroughprofitorlossnotclassifiedasheldfortradingMember" unitRef="EUR" decimals="INF">19000000</ifrs-full:RevenueFromDividends>
  <ifrs-full:RevenueFromDividends id="ID_332" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_ClassesOfAssetsAxis_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" unitRef="EUR" decimals="INF">122000000</ifrs-full:RevenueFromDividends>
  <ifrs-full:RevenueFromDividends id="ID_333" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_ClassesOfAssetsAxis_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" unitRef="EUR" decimals="INF">126000000</ifrs-full:RevenueFromDividends>
  <ifrs-full:RevenueFromDividends id="ID_334" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ClassesOfAssetsAxis_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" unitRef="EUR" decimals="INF">126000000</ifrs-full:RevenueFromDividends>
  <ifrs-full:RevenueFromDividends id="ID_335" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_ClassesOfAssetsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">137000000</ifrs-full:RevenueFromDividends>
  <ifrs-full:RevenueFromDividends id="ID_336" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_ClassesOfAssetsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">153000000</ifrs-full:RevenueFromDividends>
  <ifrs-full:RevenueFromDividends id="ID_337" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ClassesOfAssetsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">145000000</ifrs-full:RevenueFromDividends>
  <bbva:Sensitivityanalysisformainhypothesesusa id="ID_338" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:374,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:374,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Sensitivity analysis for main assumptions - United States (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:103,5pt;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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:139,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:139,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Increase of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:131,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:131,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Decrease of 50 basis points (*)&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:middle;border-color:Black;min-width:103,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:139,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:139,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(755)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:131,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:131,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;869&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:middle;border-color:Black;min-width:103,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:139,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:139,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:131,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:131,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(235)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sensitivityanalysisformainhypothesesusa>
  <bbva:Sensitivityanalysisformainhypothesesmexico id="ID_339" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:382,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:382,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Sensitivity analysis for main assumptions - Mexico (Millions of Euros)&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;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:132pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;Impact of an increase of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110,25pt;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;Impact of a decrease of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:132pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:132pt;' &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: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;1.156&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19,5pt;' &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;Growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:132pt;text-align:right;vertical-align:middle;border-color:Black;min-width:132pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;688&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;(620)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sensitivityanalysisformainhypothesesmexico>
  <bbva:Impairmenttesthypothesescgugoodwillintheunitedstates id="ID_340" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:285pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:285pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Impairment test assumptions CGU goodwill - United States&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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: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:8pt;font-weight:bold;color:#072146;' &gt;March 2020&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;font-weight:bold;color:#072146;' &gt;December 2019&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;font-weight:bold;color:#072146;' &gt;December 2018&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:middle;border-color:Black;min-width:124,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:8pt;color:#000000;' &gt;10,3%&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;10,0%&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;10,5%&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:middle;border-color:Black;min-width:124,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Growth rate&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:8pt;color:#000000;' &gt;3,0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,5%&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;4,0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Impairmenttesthypothesescgugoodwillintheunitedstates>
  <bbva:Impairmenttesthypothesescgugoodwillinturkey id="ID_341" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;21,0%&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;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;/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;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:BillsReceivablesFeeIncome id="ID_342" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">27000000</bbva:BillsReceivablesFeeIncome>
  <bbva:BillsReceivablesFeeIncome id="ID_343" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">39000000</bbva:BillsReceivablesFeeIncome>
  <bbva:BillsReceivablesFeeIncome id="ID_344" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">39000000</bbva:BillsReceivablesFeeIncome>
  <bbva:Demandaccountsincome id="ID_345" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">322000000</bbva:Demandaccountsincome>
  <bbva:Demandaccountsincome id="ID_346" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">301000000</bbva:Demandaccountsincome>
  <bbva:Demandaccountsincome id="ID_347" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">249000000</bbva:Demandaccountsincome>
  <bbva:CreditAndDebitCardsFeeIncome id="ID_348" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">2089000000</bbva:CreditAndDebitCardsFeeIncome>
  <bbva:CreditAndDebitCardsFeeIncome id="ID_349" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">2862000000</bbva:CreditAndDebitCardsFeeIncome>
  <bbva:CreditAndDebitCardsFeeIncome id="ID_350" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">2690000000</bbva:CreditAndDebitCardsFeeIncome>
  <bbva:ChecksFeeIncome id="ID_351" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">136000000</bbva:ChecksFeeIncome>
  <bbva:ChecksFeeIncome id="ID_352" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">198000000</bbva:ChecksFeeIncome>
  <bbva:ChecksFeeIncome id="ID_353" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">188000000</bbva:ChecksFeeIncome>
  <bbva:TransfersandotherpaymentordersFeeIncome id="ID_354" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">555000000</bbva:TransfersandotherpaymentordersFeeIncome>
  <bbva:TransfersandotherpaymentordersFeeIncome id="ID_355" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">623000000</bbva:TransfersandotherpaymentordersFeeIncome>
  <bbva:TransfersandotherpaymentordersFeeIncome id="ID_356" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">595000000</bbva:TransfersandotherpaymentordersFeeIncome>
  <bbva:InsuranceProductCommissionsFeeIncome id="ID_357" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">159000000</bbva:InsuranceProductCommissionsFeeIncome>
  <bbva:InsuranceProductCommissionsFeeIncome id="ID_358" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">158000000</bbva:InsuranceProductCommissionsFeeIncome>
  <bbva:InsuranceProductCommissionsFeeIncome id="ID_359" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">169000000</bbva:InsuranceProductCommissionsFeeIncome>
  <bbva:Loansgrantedpledges id="ID_360" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">185000000</bbva:Loansgrantedpledges>
  <bbva:Loansgrantedpledges id="ID_361" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">187000000</bbva:Loansgrantedpledges>
  <bbva:Loansgrantedpledges id="ID_362" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">183000000</bbva:Loansgrantedpledges>
  <bbva:Otherpledgesandfinancialguarantees id="ID_363" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">349000000</bbva:Otherpledgesandfinancialguarantees>
  <bbva:Otherpledgesandfinancialguarantees id="ID_364" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">377000000</bbva:Otherpledgesandfinancialguarantees>
  <bbva:Otherpledgesandfinancialguarantees id="ID_365" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">374000000</bbva:Otherpledgesandfinancialguarantees>
  <ifrs-full:PortfolioAndOtherManagementFeeIncome id="ID_366" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">1100000000</ifrs-full:PortfolioAndOtherManagementFeeIncome>
  <ifrs-full:PortfolioAndOtherManagementFeeIncome id="ID_367" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">1026000000</ifrs-full:PortfolioAndOtherManagementFeeIncome>
  <ifrs-full:PortfolioAndOtherManagementFeeIncome id="ID_368" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">986000000</ifrs-full:PortfolioAndOtherManagementFeeIncome>
  <ifrs-full:BrokerageFeeIncome id="ID_369" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">367000000</ifrs-full:BrokerageFeeIncome>
  <ifrs-full:BrokerageFeeIncome id="ID_370" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">294000000</ifrs-full:BrokerageFeeIncome>
  <ifrs-full:BrokerageFeeIncome id="ID_371" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">301000000</ifrs-full:BrokerageFeeIncome>
  <bbva:CustodySecuritiesFeeIncome id="ID_372" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">135000000</bbva:CustodySecuritiesFeeIncome>
  <bbva:CustodySecuritiesFeeIncome id="ID_373" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">123000000</bbva:CustodySecuritiesFeeIncome>
  <bbva:CustodySecuritiesFeeIncome id="ID_374" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">123000000</bbva:CustodySecuritiesFeeIncome>
  <ifrs-full:OtherFeeAndCommissionIncome id="ID_375" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">556000000</ifrs-full:OtherFeeAndCommissionIncome>
  <ifrs-full:OtherFeeAndCommissionIncome id="ID_376" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">599000000</ifrs-full:OtherFeeAndCommissionIncome>
  <ifrs-full:OtherFeeAndCommissionIncome id="ID_377" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">564000000</ifrs-full:OtherFeeAndCommissionIncome>
  <ifrs-full:FeeAndCommissionIncome id="ID_378" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">5980000000</ifrs-full:FeeAndCommissionIncome>
  <ifrs-full:FeeAndCommissionIncome id="ID_379" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">6786000000</ifrs-full:FeeAndCommissionIncome>
  <ifrs-full:FeeAndCommissionIncome id="ID_380" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">6462000000</ifrs-full:FeeAndCommissionIncome>
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  <bbva:DisposalNonCashAcquisition id="ID_1318" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MainvariancesinliabilitiesinfinancingactivitiesAxis_bbva_SubordinateddebtsecuritiesMember" unitRef="EUR" decimals="INF">-694000000</bbva:DisposalNonCashAcquisition>
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  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1553" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A2Member" unitRef="pure" decimals="INF">0.186</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
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  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1555" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb5Member" unitRef="pure" decimals="INF">0.051</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1556" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb3Member" unitRef="pure" decimals="INF">0.033</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1557" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_BbMember" unitRef="pure" decimals="INF">0.08</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1558" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_WithoutratingMember" unitRef="pure" decimals="INF">0.008</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1559" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_TotalexposuresMember" unitRef="pure" decimals="INF">1</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1560" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aaa1Member" unitRef="pure" decimals="INF">0.01</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1561" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aa1Member" unitRef="pure" decimals="INF">0.244</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1562" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA2Member" unitRef="pure" decimals="INF">0.004</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1563" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA3Member" unitRef="pure" decimals="INF">0.008</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1564" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AMember" unitRef="pure" decimals="INF">0.012</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1565" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A1Member" unitRef="pure" decimals="INF">0.013</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1566" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A2Member" unitRef="pure" decimals="INF">0.343</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1567" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb4Member" unitRef="pure" decimals="INF">0.171</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1568" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb5Member" unitRef="pure" decimals="INF">0.086</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1569" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb3Member" unitRef="pure" decimals="INF">0.019</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1570" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_BbMember" unitRef="pure" decimals="INF">0.083</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1571" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_WithoutratingMember" unitRef="pure" decimals="INF">0.008</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1572" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_TotalexposuresMember" unitRef="pure" decimals="INF">1</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1573" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aaa1Member" unitRef="EUR" decimals="INF">531000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1574" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aa1Member" unitRef="EUR" decimals="INF">13100000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1575" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA2Member" unitRef="EUR" decimals="INF">222000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1576" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA3Member" unitRef="EUR" decimals="INF">409000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1577" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AMember" unitRef="EUR" decimals="INF">632000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1578" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A1Member" unitRef="EUR" decimals="INF">687000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1579" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A2Member" unitRef="EUR" decimals="INF">18426000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1580" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb4Member" unitRef="EUR" decimals="INF">9195000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1581" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb5Member" unitRef="EUR" decimals="INF">4607000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1582" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb3Member" unitRef="EUR" decimals="INF">1003000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1583" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_BbMember" unitRef="EUR" decimals="INF">4453000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1584" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_WithoutratingMember" unitRef="EUR" decimals="INF">445000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1585" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_TotalexposuresMember" unitRef="EUR" decimals="INF">53709000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1586" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aaa1Member" unitRef="EUR" decimals="INF">3669000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1587" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aa1Member" unitRef="EUR" decimals="INF">7279000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1588" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA2Member" unitRef="EUR" decimals="INF">317000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1589" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA3Member" unitRef="EUR" decimals="INF">265000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1590" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AMember" unitRef="EUR" decimals="INF">3367000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1591" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A1Member" unitRef="EUR" decimals="INF">12895000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1592" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A2Member" unitRef="EUR" decimals="INF">10947000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1593" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb4Member" unitRef="EUR" decimals="INF">9946000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1594" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb5Member" unitRef="EUR" decimals="INF">2966000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1595" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb3Member" unitRef="EUR" decimals="INF">1927000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1596" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_BbMember" unitRef="EUR" decimals="INF">4712000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1597" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_WithoutratingMember" unitRef="EUR" decimals="INF">441000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1598" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_TotalexposuresMember" unitRef="EUR" decimals="INF">58731000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1599" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aaa1Member" unitRef="EUR" decimals="INF">4345000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1600" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aa1Member" unitRef="EUR" decimals="INF">595000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1601" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA2Member" unitRef="EUR" decimals="INF">449000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1602" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA3Member" unitRef="EUR" decimals="INF">406000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1603" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AMember" unitRef="EUR" decimals="INF">5912000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1604" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A1Member" unitRef="EUR" decimals="INF">2112000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1605" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A2Member" unitRef="EUR" decimals="INF">31614000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1606" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb4Member" unitRef="EUR" decimals="INF">8629000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1607" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb5Member" unitRef="EUR" decimals="INF">4054000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1608" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb3Member" unitRef="EUR" decimals="INF">5116000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1609" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_BbMember" unitRef="EUR" decimals="INF">4731000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1610" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_WithoutratingMember" unitRef="EUR" decimals="INF">345000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1611" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_TotalexposuresMember" unitRef="EUR" decimals="INF">68308000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Totalfinancialassetsatthebeginning id="ID_1612" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">1760000000</bbva:Totalfinancialassetsatthebeginning>
  <bbva:Totalfinancialassetsatthebeginning id="ID_1613" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">943000000</bbva:Totalfinancialassetsatthebeginning>
  <bbva:Totalfinancialassetsatthebeginning id="ID_1614" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">1557000000</bbva:Totalfinancialassetsatthebeginning>
  <bbva:Totalfinancialassetsatthebeginning id="ID_1615" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-403000000</bbva:Totalfinancialassetsatthebeginning>
  <bbva:Totalfinancialassetsatthebeginning id="ID_1616" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-155000000</bbva:Totalfinancialassetsatthebeginning>
  <bbva:Totalfinancialassetsatthebeginning id="ID_1617" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">84000000</bbva:Totalfinancialassetsatthebeginning>
  <bbva:Incometaxfinancialassetsatfairvalue id="ID_1618" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">-107000000</bbva:Incometaxfinancialassetsatfairvalue>
  <bbva:Incometaxfinancialassetsatfairvalue id="ID_1619" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">-331000000</bbva:Incometaxfinancialassetsatfairvalue>
  <bbva:Incometaxfinancialassetsatfairvalue id="ID_1620" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">221000000</bbva:Incometaxfinancialassetsatfairvalue>
  <bbva:Incometaxfinancialassetsatfairvalue id="ID_1621" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">23000000</bbva:Incometaxfinancialassetsatfairvalue>
  <bbva:Incometaxfinancialassetsatfairvalue id="ID_1622" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-10000000</bbva:Incometaxfinancialassetsatfairvalue>
  <bbva:Incometaxfinancialassetsatfairvalue id="ID_1623" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-25000000</bbva:Incometaxfinancialassetsatfairvalue>
  <bbva:Totalfinancialassetsattheend id="ID_1624" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">2069000000</bbva:Totalfinancialassetsattheend>
  <bbva:Totalfinancialassetsattheend id="ID_1625" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">1760000000</bbva:Totalfinancialassetsattheend>
  <bbva:Totalfinancialassetsattheend id="ID_1626" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">943000000</bbva:Totalfinancialassetsattheend>
  <bbva:Totalfinancialassetsattheend id="ID_1627" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-1256000000</bbva:Totalfinancialassetsattheend>
  <bbva:Totalfinancialassetsattheend id="ID_1628" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-403000000</bbva:Totalfinancialassetsattheend>
  <bbva:Totalfinancialassetsattheend id="ID_1629" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-155000000</bbva:Totalfinancialassetsattheend>
  <bbva:Valuationgainsandlosses id="ID_1630" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">489000000</bbva:Valuationgainsandlosses>
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  <bbva:Valuationgainsandlosses id="ID_1632" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">-640000000</bbva:Valuationgainsandlosses>
  <bbva:Amountstransferredtoincome id="ID_1633" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">-72000000</bbva:Amountstransferredtoincome>
  <bbva:Amountstransferredtoincome id="ID_1634" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">-119000000</bbva:Amountstransferredtoincome>
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  <bbva:Effectsofchangesinaccountingpoliciesifrs9 id="ID_1636" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">-58000000</bbva:Effectsofchangesinaccountingpoliciesifrs9>
  <bbva:Valuationgainsandlosses id="ID_1637" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-876000000</bbva:Valuationgainsandlosses>
  <bbva:Valuationgainsandlosses id="ID_1638" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-238000000</bbva:Valuationgainsandlosses>
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  <bbva:Effectsofchangesinaccountingpoliciesifrs9 id="ID_1640" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-40000000</bbva:Effectsofchangesinaccountingpoliciesifrs9>
  <bbva:Importstrasferredtoreservesdebtsecurities id="ID_1641" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">0</bbva:Importstrasferredtoreservesdebtsecurities>
  <bbva:Importstrasferredtoreservesdebtsecurities id="ID_1642" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">0</bbva:Importstrasferredtoreservesdebtsecurities>
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  <ifrs-full:ItemsInCourseOfCollectionFromOtherBanks id="ID_1965" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">249000000</ifrs-full:ItemsInCourseOfCollectionFromOtherBanks>
  <bbva:Accrualsassets id="ID_1966" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">756000000</bbva:Accrualsassets>
  <bbva:Accrualsassets id="ID_1967" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">804000000</bbva:Accrualsassets>
  <bbva:Accrualsassets id="ID_1968" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">702000000</bbva:Accrualsassets>
  <bbva:Otheritemsassetsinventories id="ID_1969" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">1025000000</bbva:Otheritemsassetsinventories>
  <bbva:Otheritemsassetsinventories id="ID_1970" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">2277000000</bbva:Otheritemsassetsinventories>
  <bbva:Otheritemsassetsinventories id="ID_1971" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">3886000000</bbva:Otheritemsassetsinventories>
  <ifrs-full:OtherAssets id="ID_1972" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">2513000000</ifrs-full:OtherAssets>
  <ifrs-full:OtherAssets id="ID_1973" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">3800000000</ifrs-full:OtherAssets>
  <ifrs-full:OtherAssets id="ID_1974" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">5472000000</ifrs-full:OtherAssets>
  <ifrs-full:ItemsInCourseOfTransmissionToOtherBanks id="ID_1975" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">75000000</ifrs-full:ItemsInCourseOfTransmissionToOtherBanks>
  <ifrs-full:ItemsInCourseOfTransmissionToOtherBanks id="ID_1976" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">39000000</ifrs-full:ItemsInCourseOfTransmissionToOtherBanks>
  <ifrs-full:ItemsInCourseOfTransmissionToOtherBanks id="ID_1977" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">39000000</ifrs-full:ItemsInCourseOfTransmissionToOtherBanks>
  <ifrs-full:Accruals id="ID_1978" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">1584000000</ifrs-full:Accruals>
  <ifrs-full:Accruals id="ID_1979" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">2456000000</ifrs-full:Accruals>
  <ifrs-full:Accruals id="ID_1980" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">2558000000</ifrs-full:Accruals>
  <bbva:Otheritemsliabilitiesinventories id="ID_1981" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">1144000000</bbva:Otheritemsliabilitiesinventories>
  <bbva:Otheritemsliabilitiesinventories id="ID_1982" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">1247000000</bbva:Otheritemsliabilitiesinventories>
  <bbva:Otheritemsliabilitiesinventories id="ID_1983" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">1704000000</bbva:Otheritemsliabilitiesinventories>
  <ifrs-full:OtherLiabilities id="ID_1984" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">2802000000</ifrs-full:OtherLiabilities>
  <ifrs-full:OtherLiabilities id="ID_1985" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">3742000000</ifrs-full:OtherLiabilities>
  <ifrs-full:OtherLiabilities id="ID_1986" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">4301000000</ifrs-full:OtherLiabilities>
  <bbva:Fairvaluehedges id="ID_1987" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">12351000000</bbva:Fairvaluehedges>
  <ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment id="ID_1988" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_DepreciationratefortangibleassetsAxis_bbva_BuildingforownuseMember">1% - 4%</ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment>
  <ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment id="ID_1989" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_DepreciationratefortangibleassetsAxis_bbva_FurnitureMember">8% - 10%</ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment>
  <ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment id="ID_1990" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_DepreciationratefortangibleassetsAxis_bbva_FixturesMember">6% - 12%</ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment>
  <ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment id="ID_1991" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_DepreciationratefortangibleassetsAxis_bbva_OfficesuppliesandhardwareMember">8% - 25%</ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment>
  <ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment id="ID_1992" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_DepreciationratefortangibleassetsAxis_bbva_RightsofusebyleaseMember">The lesser of the lease term or the useful life of the underlying asset</ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment>
  <bbva:Percentagetreasurystock id="ID_1993" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_RangestreasurystockAxis_ifrs-full_BottomOfRangeMember" unitRef="pure" decimals="INF">0.00008</bbva:Percentagetreasurystock>
  <bbva:Percentagetreasurystock id="ID_1994" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_RangestreasurystockAxis_ifrs-full_TopOfRangeMember" unitRef="pure" decimals="INF">0.00464</bbva:Percentagetreasurystock>
  <bbva:Percentagetreasurystock id="ID_1995" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_RangestreasurystockAxis_bbva_ClosingrangeMember" unitRef="pure" decimals="INF">0.00215</bbva:Percentagetreasurystock>
  <bbva:Percentagetreasurystock id="ID_1996" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_RangestreasurystockAxis_ifrs-full_BottomOfRangeMember" unitRef="pure" decimals="INF">0.00138</bbva:Percentagetreasurystock>
  <bbva:Percentagetreasurystock id="ID_1997" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_RangestreasurystockAxis_ifrs-full_TopOfRangeMember" unitRef="pure" decimals="INF">0.00746</bbva:Percentagetreasurystock>
  <bbva:Percentagetreasurystock id="ID_1998" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_RangestreasurystockAxis_bbva_ClosingrangeMember" unitRef="pure" decimals="INF">0.00213</bbva:Percentagetreasurystock>
  <bbva:Percentagetreasurystock id="ID_1999" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_RangestreasurystockAxis_ifrs-full_BottomOfRangeMember" unitRef="pure" decimals="INF">0.002</bbva:Percentagetreasurystock>
  <bbva:Percentagetreasurystock id="ID_2000" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_RangestreasurystockAxis_ifrs-full_TopOfRangeMember" unitRef="pure" decimals="INF">0.0085</bbva:Percentagetreasurystock>
  <bbva:Percentagetreasurystock id="ID_2001" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_RangestreasurystockAxis_bbva_ClosingrangeMember" unitRef="pure" decimals="INF">0.00709</bbva:Percentagetreasurystock>
  <ifrs-full:LevelOfPriceIndex id="ID_2002" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="pure" decimals="INF">387</ifrs-full:LevelOfPriceIndex>
  <bbva:Averagelevelofpriceindex id="ID_2003" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="pure" decimals="INF">331</bbva:Averagelevelofpriceindex>
  <bbva:Inflationoftheperiod id="ID_2004" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="pure" decimals="INF">0.365</bbva:Inflationoftheperiod>
  <ifrs-full:PurchaseOfTreasuryShares id="ID_2005" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">807000000</ifrs-full:PurchaseOfTreasuryShares>
  <ifrs-full:SaleOrIssueOfTreasuryShares id="ID_2006" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">-830000000</ifrs-full:SaleOrIssueOfTreasuryShares>
  <bbva:Treasurysharesderivativesonshares id="ID_2007" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">7000000</bbva:Treasurysharesderivativesonshares>
  <bbva:Treasurysharesotherchanges id="ID_2008" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Treasurysharesotherchanges>
  <ifrs-full:PurchaseOfTreasuryShares id="ID_2009" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">1088000000</ifrs-full:PurchaseOfTreasuryShares>
  <ifrs-full:SaleOrIssueOfTreasuryShares id="ID_2010" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">-1298000000</ifrs-full:SaleOrIssueOfTreasuryShares>
  <bbva:Treasurysharesderivativesonshares id="ID_2011" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">-23000000</bbva:Treasurysharesderivativesonshares>
  <bbva:Treasurysharesotherchanges id="ID_2012" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Treasurysharesotherchanges>
  <bbva:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparentcompany id="ID_2013" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">1305000000</bbva:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparentcompany>
  <bbva:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparentcompany id="ID_2014" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">3512000000</bbva:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparentcompany>
  <bbva:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparentcompany id="ID_2015" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">5400000000</bbva:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparentcompany>
  <bbva:Adjustmentadditionaltier1securities id="ID_2016" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">-387000000</bbva:Adjustmentadditionaltier1securities>
  <bbva:Adjustmentadditionaltier1securities id="ID_2017" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">-419000000</bbva:Adjustmentadditionaltier1securities>
  <bbva:Adjustmentadditionaltier1securities id="ID_2018" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">-447000000</bbva:Adjustmentadditionaltier1securities>
  <ifrs-full:PurchaseOfTreasuryShares id="ID_2019" 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_2020" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">-1505000000</ifrs-full:SaleOrIssueOfTreasuryShares>
  <bbva:Treasurysharesderivativesonshares id="ID_2021" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">23000000</bbva:Treasurysharesderivativesonshares>
  <bbva:Treasurysharesotherchanges id="ID_2022" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Treasurysharesotherchanges>
  <ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects id="ID_2023" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">917000000</ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects>
  <ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects id="ID_2024" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">3093000000</ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects>
  <ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects id="ID_2025" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">4953000000</ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects>
  <ifrs-full:ProfitLossFromDiscontinuedOperations id="ID_2026" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">-1729000000</ifrs-full:ProfitLossFromDiscontinuedOperations>
  <ifrs-full:ProfitLossFromDiscontinuedOperations id="ID_2027" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">-758000000</ifrs-full:ProfitLossFromDiscontinuedOperations>
  <ifrs-full:ProfitLossFromDiscontinuedOperations id="ID_2028" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">704000000</ifrs-full:ProfitLossFromDiscontinuedOperations>
  <bbva:Keyassumptionsmathematicalreserves id="ID_2029" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:1191,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:1191,75pt;' &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:111,75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:360pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:360pt;' &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 colspan='4' rowspan='1' style='width:360pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:360pt;' &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:360pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:360pt;' &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:12pt;' &gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' 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:8pt;font-weight:bold;color:#072146;' &gt;Mortality table&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' 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:8pt;font-weight:bold;color:#072146;' &gt;Average technical interest type&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' 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:8pt;font-weight:bold;color:#072146;' &gt;Mortality table&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' 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:8pt;font-weight:bold;color:#072146;' &gt;Average technical interest type&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' 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:8pt;font-weight:bold;color:#072146;' &gt;Mortality table&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' 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: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:111,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &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: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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td 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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td 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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td 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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td 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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td 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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td 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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td 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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td 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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td 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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td 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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td 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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:63,6pt;' &gt;&lt;td style='width:111,75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Individual life insurance &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7,7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GRMF 80-2, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GKM 80 / GKMF 95, PASEM,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GKMF 80/95,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PERFM 2000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.25% -2.87%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GRMF 80-2, GKM 80 / GKMF 95&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PERMF 2000&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PASEM&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.26%-3.27%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:52,5pt;' &gt;&lt;td style='width:111,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group insurance&lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7,7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PERFM 2000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PERMF 2000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:Disclosureremunerationfornonexecutivedirectorsexplanatory id="ID_2030" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,75pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:615pt;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 euro)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:45,75pt;' &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;font-weight:bold;color:#004481;' &gt;&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:7pt;font-weight:bold;color:#072146;' &gt;Board of Directors&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:7pt;font-weight:bold;color:#072146;' &gt;Executive Committee&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:7pt;font-weight:bold;color:#072146;' &gt;Audit Committee&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:7pt;font-weight:bold;color:#072146;' &gt;Risk and Compliance Committee&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:7pt;font-weight:bold;color:#072146;' &gt;Remunerations Committee &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: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-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:7pt;font-weight:bold;color:#072146;' &gt;Technology and Cybersecurity Committee&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:7pt;font-weight:bold;color:#072146;' &gt;Other positions &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;(1)&lt;/font&gt;&lt;/sup&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:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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;Jos&amp;#233; Miguel Andr&amp;#233;s Torrecillas &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: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:center;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;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:7pt;color:#000000;' &gt;66&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:7pt;color:#000000;' &gt;36&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: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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;115&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: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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50&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:7pt;color:#000000;' &gt;507&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:center;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:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;165&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:7pt;color:#000000;' &gt;107&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;567&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;Ra&amp;#250;l Galamba de Oliveira &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:61,5pt;text-align:center;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:center;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:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:center;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:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;211&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:center;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:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;66&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;107&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:7pt;color:#000000;' &gt;46&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;349&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:center;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:center;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:center;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:center;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:center;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:center;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:center;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:center;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:center;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;Lourdes M&amp;#225;iz Carro&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:7pt;color:#000000;' &gt;129&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;66&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;43&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;238&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:center;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:center;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:center;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:center;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:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;342&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:center;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:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;66&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;43&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;238&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:center;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:center;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:center;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:center;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:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46&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:7pt;color:#000000;' &gt;43&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:7pt;color:#000000;' &gt;80&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:7pt;color:#000000;' &gt;512&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 Revenga Shanklin &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:61,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:center;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:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:center;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:center;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:center;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:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;168&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:center;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:center;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:center;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:center;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:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;449&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 Salazar Lomel&amp;#237;n &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:61,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:center;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:center;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:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:center;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:center;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:center;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:center;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Jan Verplancke &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:7pt;color:#000000;' &gt;129&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;29&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;43&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:7pt;color:#000000;' &gt;&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:7pt;color:#000000;' &gt;200&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:61,5pt;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 &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(3)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;1.588&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;611&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;431&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;301&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;130&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.078&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureremunerationfornonexecutivedirectorsexplanatory>
  <bbva:Disclosureremunerationofexecutivedirectorsexplanatory id="ID_2031" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:22,5pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:242,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:242,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Annual Fixed Remuneration for 2020 (thousands of euro)&lt;/font&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:13,5pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:170,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:170,25pt;' &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: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:9pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:170,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:170,25pt;' &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: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;2.453&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:170,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:170,25pt;' &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: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;2.179&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;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:72pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;4.632&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureremunerationofexecutivedirectorsexplanatory>
  <bbva:Disclosureremunerationformembersoftheseniormanagementexplanatory id="ID_2032" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,75pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:222,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:222,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Annual Fixed Remuneration for 2020 (thousands of euro)&lt;/font&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:13,5pt;' &gt;&lt;td style='width:135pt;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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Senior Management total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;14.101&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureremunerationformembersoftheseniormanagementexplanatory>
  <bbva:Disclosurenumberofsharesexplanatory id="ID_2033" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:34,5pt;' &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;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#244061;' &gt;Theoretical shares allocated in 2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#244061;' &gt;Theoretical shares accumulated as at 31&amp;#160;December&amp;#160;2020&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Jos&amp;#233; Miguel Andr&amp;#233;s Torrecillas&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20.252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;75.912&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Jaime F&amp;#233;lix Caruana Lacorte&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22.067&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31.387&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Bel&amp;#233;n Garijo L&amp;#243;pez&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14.598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62.126&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Sunir Kumar Kapoor&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22.915&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Lourdes M&amp;#225;iz Carro&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.609&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44.929&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Jos&amp;#233; Maldonado Ramos&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14.245&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108.568&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Ana Peralta Moreno&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.665&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Juan Pi Llorens&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20.676&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;92.817&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Susana Rodr&amp;#237;guez Vidarte&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.724&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;141.138&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Jan Verplancke&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.392&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:145,5pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;145.590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;607.849&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurenumberofsharesexplanatory>
  <bbva:Impairmenttesthypothesescgugoodwillinmexico id="ID_2034" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;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 Mexico&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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;font-weight:bold;color:#0A5FB4;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;15,3%&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;14,8%&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;14,8%&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;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;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;5,9%&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;5,6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Impairmenttesthypothesescgugoodwillinmexico>
  <bbva:Purchasesontreasurysharesnumberofshares id="ID_2035" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">234691887</bbva:Purchasesontreasurysharesnumberofshares>
  <bbva:Salesandotherchangestreasurysharesnumberofshares id="ID_2036" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">-232956244</bbva:Salesandotherchangestreasurysharesnumberofshares>
  <bbva:Treasurysharesderivativesonsharesnumberofshares id="ID_2037" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">0</bbva:Treasurysharesderivativesonsharesnumberofshares>
  <bbva:Treasurysharesotherchangesnumberofshares id="ID_2038" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">0</bbva:Treasurysharesotherchangesnumberofshares>
  <bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros id="ID_2039" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">9000000</bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros>
  <bbva:Treasurysharesheldbycorporacingeneralfinancierasa id="ID_2040" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">37000000</bbva:Treasurysharesheldbycorporacingeneralfinancierasa>
  <bbva:Treasurysharesheldbyothersubsidiaries id="ID_2041" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Treasurysharesheldbyothersubsidiaries>
  <bbva:Purchasesontreasurysharesnumberofshares id="ID_2042" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">214925699</bbva:Purchasesontreasurysharesnumberofshares>
  <bbva:Salesandotherchangestreasurysharesnumberofshares id="ID_2043" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">-249566201</bbva:Salesandotherchangestreasurysharesnumberofshares>
  <bbva:Treasurysharesderivativesonsharesnumberofshares id="ID_2044" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">0</bbva:Treasurysharesderivativesonsharesnumberofshares>
  <bbva:Treasurysharesotherchangesnumberofshares id="ID_2045" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">0</bbva:Treasurysharesotherchangesnumberofshares>
  <bbva:Purchasesontreasurysharesnumberofshares id="ID_2046" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">279903844</bbva:Purchasesontreasurysharesnumberofshares>
  <bbva:Salesandotherchangestreasurysharesnumberofshares id="ID_2047" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">-245985735</bbva:Salesandotherchangestreasurysharesnumberofshares>
  <bbva:Treasurysharesderivativesonsharesnumberofshares id="ID_2048" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">0</bbva:Treasurysharesderivativesonsharesnumberofshares>
  <bbva:Treasurysharesotherchangesnumberofshares id="ID_2049" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">0</bbva:Treasurysharesotherchangesnumberofshares>
  <bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros id="ID_2050" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros>
  <bbva:Treasurysharesheldbycorporacingeneralfinancierasa id="ID_2051" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">62000000</bbva:Treasurysharesheldbycorporacingeneralfinancierasa>
  <bbva:Treasurysharesheldbyothersubsidiaries id="ID_2052" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Treasurysharesheldbyothersubsidiaries>
  <bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros id="ID_2053" 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_2054" 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_2055" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Treasurysharesheldbyothersubsidiaries>
  <ifrs-full:BasicEarningsLossPerShare id="ID_2056" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EURSHARE" decimals="INF">0.47</ifrs-full:BasicEarningsLossPerShare>
  <ifrs-full:BasicEarningsLossPerShareFromContinuingOperations id="ID_2057" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EURSHARE" decimals="INF">0.58</ifrs-full:BasicEarningsLossPerShareFromContinuingOperations>
  <ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations id="ID_2058" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EURSHARE" decimals="INF">0.58</ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations>
  <ifrs-full:BasicEarningsLossPerShareFromDiscontinuedOperations id="ID_2059" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EURSHARE" decimals="INF">-0.11</ifrs-full:BasicEarningsLossPerShareFromDiscontinuedOperations>
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  <bbva:AssetsFromDisposableGroups id="ID_2337" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9,75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:459,75pt;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:7,5pt;color:#5AC4C4;' &gt;CONDENSED ASSETS (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:255,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:255,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FF0000;' &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:7,5pt;font-weight:bold;color:#072146;' &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:7,65pt;font-weight:bold;color:#072146;' &gt;2020&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:7,65pt;font-weight:bold;color:#072146;' &gt;2019&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:7,65pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;11.368&lt;/font&gt;&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:7,5pt;color:#000000;' &gt;5.678&lt;/font&gt;&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:7,5pt;color:#000000;' &gt;2.326&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;821&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;513&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;228&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19,5pt;' &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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;4.974&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;6.834&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;10.030&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;61.558&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;62.860&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;59.302&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;23&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:7,5pt;color:#000000;' &gt;Tangible 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:7,5pt;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:7,5pt;color:#000000;' &gt;799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;900&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;665&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Intangible 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:7,5pt;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:7,5pt;color:#000000;' &gt;1.949&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;4.183&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:7,5pt;color:#000000;' &gt;5.438&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Tax 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:7,5pt;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:7,5pt;color:#000000;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;446&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Other 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:7,5pt;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:7,5pt;color:#000000;' &gt;1.390&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;1.463&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;1.401&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:255,75pt;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:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;83.257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;82.751&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;79.908&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:459,75pt;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:7,5pt;color:#5AC4C4;' &gt;CONDENSED LIABILITIES (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:255,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:255,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#004481;' &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:7,5pt;font-weight:bold;color:#072146;' &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:7,65pt;font-weight:bold;color:#072146;' &gt;2020&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:7,65pt;font-weight:bold;color:#072146;' &gt;2019&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:7,65pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;94&lt;/font&gt;&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:7,5pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;73.132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;70.438&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;66.635&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19,5pt;' &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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Provisions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;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:7,5pt;color:#000000;' &gt;186&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Tax liabilities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;201&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Other liabilities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;464&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;497&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:255,75pt;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:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;74.082&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;71.279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;67.688&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:459,75pt;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:7pt;color:#5AC4C4;' &gt;ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:255,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:255,75pt;' &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: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;font-weight:bold;color:#072146;' &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:7pt;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Actuarial gains (losses) on defined benefit pension plans&lt;/font&gt;&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;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;text-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-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;(80)&lt;/font&gt;&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;(69)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Hedge of net investments in foreign operations (effective portion)&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#004481;' &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;(432)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(432)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(432)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Foreign currency translation &lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#004481;' &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;801&lt;/font&gt;&lt;/td&gt;&lt;td 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;1.576&lt;/font&gt;&lt;/td&gt;&lt;td 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;1.337&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Hedging derivatives. Cash flow hedges (effective portion)&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#004481;' &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;250&lt;/font&gt;&lt;/td&gt;&lt;td 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;81&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;color:#000000;' &gt;Fair value changes of debt instruments measured 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;font-weight:bold;color:#004481;' &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;70&lt;/font&gt;&lt;/td&gt;&lt;td 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;(130)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:255,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;622&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;1.134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;710&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:AssetsFromDisposableGroups>
  <bbva:Adjustedweightedaveragesharesdilutedearningspershare id="ID_2338" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="shares" decimals="INF">6655</bbva:Adjustedweightedaveragesharesdilutedearningspershare>
  <bbva:Adjustedweightedaveragesharesdilutedearningspershare id="ID_2339" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="shares" decimals="INF">6648</bbva:Adjustedweightedaveragesharesdilutedearningspershare>
  <bbva:Adjustedweightedaveragesharesdilutedearningspershare id="ID_2340" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="shares" decimals="INF">6636</bbva:Adjustedweightedaveragesharesdilutedearningspershare>
  <ifrs-full:WeightedAverageShares id="ID_2341" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="shares" decimals="INF">6668</ifrs-full:WeightedAverageShares>
  <ifrs-full:WeightedAverageShares id="ID_2342" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="shares" decimals="INF">6668</ifrs-full:WeightedAverageShares>
  <ifrs-full:WeightedAverageShares id="ID_2343" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="shares" decimals="INF">6668</ifrs-full:WeightedAverageShares>
  <bbva:Weightedaveragesharecorrectivefactor id="ID_2344" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="shares" decimals="INF">6668</bbva:Weightedaveragesharecorrectivefactor>
  <bbva:Weightedaveragesharecorrectivefactor id="ID_2345" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="shares" decimals="INF">6668</bbva:Weightedaveragesharecorrectivefactor>
  <bbva:Weightedaveragesharecorrectivefactor id="ID_2346" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="shares" decimals="INF">6668</bbva:Weightedaveragesharecorrectivefactor>
  <ifrs-full:AdjustedWeightedAverageShares id="ID_2347" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="shares" decimals="INF">6655</ifrs-full:AdjustedWeightedAverageShares>
  <ifrs-full:AdjustedWeightedAverageShares id="ID_2348" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="shares" decimals="INF">6648</ifrs-full:AdjustedWeightedAverageShares>
  <ifrs-full:AdjustedWeightedAverageShares id="ID_2349" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="shares" decimals="INF">6636</ifrs-full:AdjustedWeightedAverageShares>
  <ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory id="ID_2350" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:left;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;2.2. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Accounting principles and policies and applied valuation 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 accounting principles and policies and the valuation methods applied in the preparation of the consolidated financial statements may differ from&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; those used, at the individual level, by some of the entities that are part of the BBVA Group; This is why, in the consolidation process, the necessary adjustments and reclassifications are made to standardize such principles and criteria among themselves &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and bring them into line with the IFRS-EU.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 preparing the accompanying consolidated Annual Accounts, the following accounting principles and policies and assessment criteria have been applied&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;2.2.1. &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 financial assets and liabilities, the impairment of financial assets and hedge accounting. However, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the Group has chosen to continue applying IAS 39 for accounting for hedges, until the completion of the macro-hedging project of IFRS 9 as permitted by IFRS 9.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&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 instruments in the categories of amortized cost or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; fair value depends on the business model with which the entity manages the assets and the contractual characteristics of the cash flows, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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;' &gt;The assessment of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the business model should reflect the way the Group manages groups of financial assets and does not depend on the intention for an individual instrument. Thus, for each entity 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 there are different business models for managing 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;In order to determine the business model, the following aspects are taken into account:&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;' &gt;The way in which the performance of the business model (and that of the assets which comprise such business model) is evaluated and reported to the entity&amp;#39;s key personn&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;el&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: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;The risks and the way in which the risks that affect the performance of the business model are managed&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: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;The way in which business model managers are remunerated&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: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;The frequency, amount and timing of sales in previous years, the reasons for such sales &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and expectations regarding future sales.&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;Regarding the SPPI test, the analysis of the cash flows aims to determine whether the contractual cash flows of the assets correspond only to payments of principal and interest on the principal amount outstanding at&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the beginning of the transaction. Interest is understood here as the consideration for the time value of money; and for the credit risk associated with the principal amount outstanding during a specific period; and for financing and structure costs, plus &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;a profit margin.&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 most significant judgments used by the Group in evaluating compliance with the conditions of the SPPI test are 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;Modified time value: in the event that a financial asset includes a periodic interest rate adjustment but the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; frequency of this adjustment does not coincide with the term of the reference interest rate (for example, the interest rate reset every six months to a one-year rate), the Group assesses, at the time of the initial recognition, this mismatch to determine &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;whether the contractual cash flows (undiscounted) differ significantly or not from the cash flows (undiscounted) of a benchmark financial asset, for which there would be no change in the time value of money. The defined tolerance thresholds are 10% for the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; differences in each period and 5% for the analysis accumulated throughout the financial asset life.&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;Contractual clauses: The contractual clauses can modify the calendar or the amount of the contractual cash flows are analyzed to verify if the contractual &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;cash flows that would be generated during the life of the instrument due to the exercise of those clauses are only payments of principal and interest on the principal amount outstanding. To do this, the contractual cash flows that may be generated before a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;nd after the modification are analyzed.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:36pt;color:#000000;' &gt;The main criteria taken into account in the analysis are:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:54pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &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;color:#000000;' &gt;Early termination clauses: generally a contractual clause that permits the debtor to prepay a debt instrument before maturity is consistent with SPPI when the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; prepayment amount substantially represents unpaid amounts of principal and interest on the principal amount outstanding (which may include reasonable additional compensation for the early termination of the contract).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:54pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &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;color:#000000;' &gt;Instruments with an interest rate lin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ked to contingent events:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:90pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:108pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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;An instrument whose interest rate is reset to a higher rate if the debtor misses a particular payment may meet the SPPI criterion because of the relationship between missed payments and an increase in credit risk.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:90pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:108pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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;An instrument wi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;th contractual cash flows that are inde&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;xed to the debtor&amp;#8217;s performance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; &amp;#8211; e.g. net income or is adjusted based on a certain index or stock market value would not meet the SPPI criterion&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:54pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &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;color:#000000;' &gt;Perpetual instrume&lt;/font&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;ts: to the extent that they can be considered instr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;uments with continuous (multiple) extension options, they meet the SPPI test if the contractual flows meet it. When the issuer can defer the payment of interest, if such payment would affect their solvency, they would meet the SPPI test if the deferred int&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;erest accrues additional interest, while if they do not, they would not meet the test.&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;Non-recourse financial instruments: In the case of debt instruments that are repaid primarily with the cash flows of specific assets or projects and the debtor has no le&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;gal responsibility, the underlying assets or cash flows are evaluated to determine whether the contractual cash flows of the instrument are consistent with payments of principal and interest on the principal amount outstanding.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:54pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &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;color:#000000;' &gt;If the contractual terms do &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;not give rise to additional cash flows to payments of principal and interest on the amount of principal outstanding or limitations to these payments, the SPPI test is met.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:54pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &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;color:#000000;' &gt;If the debt instrument effectively represents an investment in the underlying assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; and its cash flows are inconsistent with principal and interest (because they depend on the performance of a business), the SPPI test is not met.&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;Contractually linked instruments: a look-through analysis is carried out in the case of transactions that are&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; set through the issuance of multiple financial instruments forming tranches that create concentrations of credit risk in which there is an order of priority that specifies how the flows of cash generated by the underlying set of financial instruments are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;allocated to the different tranches. The debt tranches of the instrument will comply with the requirement that their cash flows represent only payment of principal and interest on the outstanding principal if:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:42pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:56,7pt;text-align:right;font-family:Arial;font-size:8pt;' &gt;a)&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 terms of the tranche being ass&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;essed for classification (without looking through to the underlying pool of financial instruments) give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:42pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:56,7pt;text-align:right;font-family:Arial;font-size:8pt;' &gt;b)&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 underlying pool of financial instruments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;comprises instruments with cash flow that are solely payments of principal and interest on the principal amount outstanding, and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:42pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:56,7pt;text-align:right;font-family:Arial;font-size:8pt;' &gt;c)&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 exposure to credit risk in the underlying pool of financial instruments inherent in the tranche is equal to or lower than t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he exposure to credit risk of the underlying pool of financial instruments (for example, the credit rating of the tranche being assessed for classification is equal to or higher than the credit rating that would apply to a single tranche that funded the un&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;derlying pool of financial 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;In any event, the contractual conditions that, at the time of the initial recognition, have a minimal effect on cash flows or depend on the occurrence of exceptional and highly unlikely events do not prevent complian&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ce with the conditions of the SPPI test.&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;Based on the above characteristics, financial assets will be classified and valued as described below.&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 cost portfolio if &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the two following conditions are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 contractual 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;The contractual conditions of the financial asset give rise to cash flows that are only &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;payments of principal and interest.&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 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; business model whose purpose combines collection of the contractual cash flows and sale of 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 interest.&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 instrume&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nt will be classified at fair value with changes in profit and loss provided that the entity&amp;#39;s business model for their management or the contractual characteristics of its cash flows do not require classification into one of the portfolios described above&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;In general, equity instruments will be measured at fair value through profit or loss. However 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;Financi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;al 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;with the exception of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;those financial assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;which &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;are classified 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;All changes in the value of financial assets due to the interest accrual and similar items are recorded in the headings &amp;quot;Interest income and other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;similar income&amp;quot; or &amp;quot;Interest expenses&amp;quot;, of the consolidated income statement of the year in which the accrual occurred (see Note 37),&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;except for trading derivatives that are not economic and accounting hedges.&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 re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cognition, for reasons other than those mentioned in the preceding paragraph, are treated as described below, according to the categories of financial assets.&lt;/font&gt;&lt;/p&gt;&lt;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 thro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;ugh profit and loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;&amp;#8221; or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt; &amp;#8220;Financial assets designated at fair 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. The financial assets recorded &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;in the heading &amp;#8220;Non-trading financial assets mandatorily &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;at fair value through profit or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 its contractual cash flows do not&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 losses on them, on different bases. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;The assets recognized under these headings of the consolidated balance sheet are measured upon acqu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;isition 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 non-trading financial assets mandatori&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;at fair value through profit or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 fair value resulting from variations in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;foreign exchange rates are recognized under the heading &amp;#8220;Exchange differences, net&amp;#8221; 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 other comprehensive income&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;Debt 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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;his 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;sheet. Thus, both interest income on&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 heading &amp;#8220;Accumulated other comprehensive income (loss) - Items that may be reclassified to profit or loss - Fair value changes of debt instruments measured at fair value through&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 recognized under the headings &amp;#8220;Accumulated other comprehensive income (loss) - Items that may be reclassified to profit or loss - Fair value changes of financial ass&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ets measured at fair value through other comprehensive income&amp;#8221; continue to form part of the Group&amp;#39;s consolidated equity until the corresponding asset is derecognized from the consolidated balance sheet or until a loss allowance is recognized on the corresp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;onding financial instrument. If these assets are sold, these amounts are derecognized and included under the headings &amp;#8220;Gains (losses) on financial assets and liabilities, net&amp;#8221; (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 throug&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;h other comprehensive income&amp;#8221; over the year are recognized under the heading &amp;#8220;Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification - Financial assets at fair value through o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ther comprehensive income&amp;#8221; (see Note 48) 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;Interest income on 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='text-align:left;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;Equity 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;At the time of initial recognition of specific investments in equity instruments, the BBVA Group may make the irrevocable &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;decision to present subsequent changes in fair value in other comprehensive income. Subsequent changes in this valuation will be recognized in &amp;quot;Other accumulated comprehensive income - Items that will not be reclassified in results - Changes in the fair va&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lue of equity instruments measured at fair value with changes in other comprehensive income&amp;quot;. Dividends received from these investments are recorded in the heading &amp;quot;Dividend income&amp;quot; in the consolidated income statement (see Note 38). These instruments are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;not subject to the impairment model of IFRS 9.&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 or net gains by modification &amp;#8211; financial assets mea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;sured at amortized cost&amp;#8221; in the consolidated income statement for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;such &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;period&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; (see Note 47)&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: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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;following categories:&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;Financial liabilities 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;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: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;Financial liabilities that are designated at fair value through profit or loss on initial reco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;gnition 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 through profit or loss provided that doing so results in the elimination or significant red&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;uction 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 ri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;sk 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;Financial liabilities are initially recorded at fair value, less transaction costs that are directly attributable to the issuance of instruments, except for financial instruments th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;at are classified 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;Variations in the value of financial liabilities due to the interest accrual and similar items are recorded in the headings &amp;#8220;Interest income and other similar income&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;, of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;consolidated income statement for the period in which the accrual occurred (see Note 37), except for trading derivatives that are not economic and accounting hedges.&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 ment&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ioned in the preceding paragraph, are treated as described 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 chan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ges 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 &amp;#8220;Gains (losses) on financial assets and liabilities held for trading, net&amp;#8221; an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d &amp;#8220;Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net&amp;#8221; in the accompanying consolidated income statements (see Note 41)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. Nevertheless, the changes in the own credit risk of the liabilities designated under the fair value option is presented in &amp;#8220;Accumulated other comprehensive income (loss) &amp;#8211; Items that will not be reclassified to profit or loss &amp;#8211; Fair value changes of financial liabilities at fair value through profit or loss attributable to changes 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;, unless this treatment brings about or increases an asy&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mmetry in the income statement. However, changes in fair value resulting from variations in foreign exchange rates are recognized under the heading &amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Exchange differences,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; net&amp;#8221; 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:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#004580;' &gt;Hybrid financial liab&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;ilities&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;When a financial liability contains an embedded derivative, the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; analyzes whether the economic characteristics and risks of the embedded derivative and the host instrument are closely related.&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;If the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;characteristics and risks of the host and the derivative are closely related, the instrument as a whole will be classified and measured according to the general rules for financial liabilities. If, on the other hand, the economic characteristics and risks &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;of the embedded derivative are not closely related to the economic characteristics and risks of the host, its terms meet the definition of a derivative and the hybrid contract is not measured at fair value with changes in fair value recognized in profit or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; loss, the embedded derivative shall be separated from the host and accounted for as a derivative separately at fair value with changes in profit and loss and the host instrument will be classified and measured according to its nature.&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 A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;ccounting&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;The G&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;roup uses financial derivatives as a tool for managing financial risks, mainly interest rates and exchange rates (See Note 7).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;When these transactions &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;meet certain requirements, they are considered &amp;quot;hedging&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;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 hedg&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e accounting instruments are recognized as follows:&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;In fair value 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;' &gt;ed under the heading &amp;#8220;Gains (l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;osses&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; from hedge accounting, net&amp;#8221; in th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e consolidated income statement, with a corresponding offset under the headings where hedging items (&amp;quot;Hedging derivatives&amp;quot;) and the hedged items are recognized, as applicable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, except for interest-rate risks hedges (which are a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lmost all of the hedges used b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y the 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;, for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; which &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the valuation changes are recognized under the headings &amp;#8220;Interest and other income&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;, as appropriate, in the accompanying consolidated income statement (see Note 37).&lt;/font&gt;&lt;/span&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;In fair value hedges of interest rate risk o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f 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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;with &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the corresponding offset &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on the headings &amp;#8220;Derivatives-Hedge Accounting&amp;#8221; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 ca&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ses under the heading &amp;#8220;Gains (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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; from hedge accounting, net&amp;#8221;, using, as a balancing item, the headings &amp;quot;Fair value changes of the hedged items in portfolio hedges of interest rate risk&amp;quot; in the consolidated balance sheets, as applicable).&lt;/font&gt;&lt;/span&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;In cash flow hedges, the gain or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; loss on the hedging instruments relating to the effective portion are recognized temporarily under the heading &amp;#8220;Accumulated other comprehensive income (loss) - Items that may be reclassified to profit or loss - Hedging derivatives. Cash flow hedges (effec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tive portion)&amp;#8221; in the consolidated balance sheets, with a balancing entry under the heading &amp;#8220;Hedging derivatives&amp;#8221; of the Assets or Liabilities of the consolidated balance sheets as applicable. These differences are recognized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;under&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;headings &amp;#8220;Interest and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;other income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; at the time when the gain or loss in the hedged instrument affects profit or loss, when the forecast transaction is executed or at the maturity date of the hedged item (see Note 37). &lt;/font&gt;&lt;/span&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;Differences in the measurement of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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;' &gt;rectly in the heading &amp;#8220;Gains (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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; 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: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;In the hedges of net investments in fore&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ign operations, the differences attributable to the effective portions of hedging items are recognized temporarily under the heading &amp;quot;Accumulated other comprehensive income (loss) - Items that may be reclassified t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;o profit or loss &amp;#8211; Hedging of net investme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nts in foreign operations (effective portion)&amp;quot; in the consolidated balance sheets with a balancing entry under the heading &amp;#8220;Hedging derivatives&amp;#8221; of the Assets or Liabilities of the consolidated balance sheets as applicable. These differences in valuation a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;re 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 derecognized (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:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The &amp;#8220;expected losses&amp;#8221; impairment &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;model is applied to financial assets valued at amortized cost, to debt instruments valued at fair value with changes in other accumulated comprehensive income, to financial guarantee contracts and other commitments. All financial instruments valued at fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; value through profit or loss are excluded from the impairment 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 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 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 mus&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t 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: &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;Expected loss at 12 months:&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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: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;Expected loss during the life of the transaction: this is the expected credit loss that arises from all &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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;Both, the modeling for expected losses estimates and the factors affecting such losses forecasts require considerable judgment, which must be carried out on a weighted probability&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:0pt;' &gt;The Group &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;has applied a definition of default for financial instruments that is consistent with that used in i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nternal credit risk management, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and coherent with the definition applied by &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the Group within the prudential context. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The Group has considered the existence of 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 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 instrume&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;nt.&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 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, 2020, the Group &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;has not considered periods higher than 90 days for any significant portfolio. &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;These criteria are aligned in all the geographies where the Group operates, being only minor differences kept in order to facilitate management adoption al a national level. In &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;this sense, national criteria are permitted, within the Group standards and searching for consistency and coherence between the geographies, easing the adoption of the default definition management.&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:0pt;' &gt;An asset is credit-impaired accordi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ng 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:&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 financi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;al 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:0pt;' &gt;It may not be possible to identify a single discrete event. Instead, the combined effect of several events may cause financial assets to become credit-impaired.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;definition of impaired financial assets in the Group is aligned with the definition of default explained in the above paragraphs.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Credit risk management for wholesale counterparties is carried out at the customer (or group) level. For this reason, the clas&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sification of any of a client&amp;#39;s exposures as impaired, whether due to more than 90 days of default or due to any of the subjective criteria, implies the classification as impaired of all the client&amp;#39;s exposures. There may be some justified exception that, i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n any case, are not significant.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Regarding retail clients, which are managed at the operation level, the scoring systems review their score, among other reasons, in the event of a breach in any of their &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; which also triggers the necessary recove&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ry actions. These include refinancing measures that, where appropriate, may lead to all customer &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; being considered impaired. Furthermore, given the granularity of the retail portfolios, the differential behavior of these clients in relation to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;their products and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;collateral&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; provided, as well as the time necessary to find the best solution, the Group has established as an indicator that when a transaction of a retail client has default in excess of 90 days and this represents more than 20% of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;client&amp;#39;s total balance, all its &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; are considered impaired, this without prejudice to the fact that lower limits have been established due to management practices in some geography.&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:0pt;' &gt;The objective of the impair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ment 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 whic&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;h 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:0pt;' &gt;The model developed by the Group for assessing the significant increase in credit risk has a two-prong approach that is applied globally (for more detail on the methodology used, see Note 7.2.1):&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14,2pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:32,2pt;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;color:#000000;' &gt;Quantitative criterion: the Group &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 probabi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lity for their residual life (see Note 7&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;.2.1&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:14,2pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:32,05pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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 and scoring systems or macroeconomic scenarios, so the quantitative analysis &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;covers the majority of circumstances. The Group uses additional qualitative criteria to identify significant increase in credit risk and thus, to include circumstances that are not reflected in the rating/score systems or macroeconomic scenarios used. Such&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; qualitative criteria are the following:&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:6pt;' &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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;such non-payment does not represent a significant increase in risk. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;As of December 31, 2020, the Group has not considered periods higher than 30 days.&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:6pt;' &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;color:#000000;' &gt;Watch list: They are subject to special watch by the Risk units because they show negative signs in their&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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:54pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &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;color:#000000;' &gt;Refinance or restructuring that does &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;not show evidence of impairment, or that, having been previously identified, the existence of significant increase in credit risk is still considered.&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, also known as 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;related to certain government institutions and bodies, the standard allows for considering that their credit risk has not increased significantly because they have a low credit risk at the presentation date.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; This possibility is limited to those financial instruments that are classified as having high credit quality and high liquidity to comply with the liquidity coverage ratio (&amp;#8220;LCR&amp;#8221;). This does not prevent these assets from being assigned the credit risk coverage that corresponds to their classification as Stage 1 based on their credit rating and macroeconomic 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;The&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;without&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &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:21,25pt;' &gt;Financial assets which are not &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;significant&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt; 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:21,25pt;' &gt;When the credit risk of a financial asset h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as 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 the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 recogn&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ized 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:21,3pt;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:21,3pt;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:21,3pt;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;Expected losses are measured bot&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;h individually and 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 individualized estimate of credit losses results from calculating the difference between the expected cash flows discounted at the effective interest rate of the transaction and the carrying amount of the instrument (See&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Note 7.2.1).&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;For the collective measurement of expected losses the instruments are classified into groups of assets based on their risk characteristics. Exposure within each group is segmented according to credit risk common characteristics, which indicat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e the payment capacity of the borrower according to the 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 factor&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; (see Note 7)&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: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 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='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Collateral value if it has &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;an impact on the probability of a default event.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-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 derived from the following parameters:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:21,3pt;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:21,3pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;account the changes in exposure after the presentation date of the financial statements. &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;LGD: estimate of the loss in case of default, calculated as the difference between the contractual cash flows and receivables, including guarantees. For these &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;purposes, the probability of executing the guarantee is considered in the estimation, the moment until its ownership and subsequent realization, the expected cashflows and acquisition and sale costs.&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; CCF: cash conversion factor is the estimate made on off&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-balance sheet to determine the exposure subject to credit risk in the event of a 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:0pt;' &gt;At the BBVA Group, the calculated expected credit losses are based on internal models developed for all portfolios within the IFRS 9 scope,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; except for the cases that are subject to individual 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 calculation and recognition of expected losses includes exposures with governments and credit institutions, for which, despite having a reduced number of defaults in the information databa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ses, internal models have been developed, considering, as sources of information, the data provided by external rating agencies or other observed in the market, such as changes in bond yields, prices of credit default swaps or any other public information &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on 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;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 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 standard does not require identification of all possible s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cenarios 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. To achieve this, the Group generally evaluates the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;linear relationship between its estimated loss parameters&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; (PD, GDP, EAD) with the historical&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and future forecasts of the 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;Additionally, when there is no linear relation between the different future economic scenarios and their &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;associated expected losses, more than one future economic scenario must be used for the measurement.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The approach used by the Group consists of using a methodology based on the use of three scenarios. The first is the most probable scenario (base scenario)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that is consistent with that used in the Group&amp;#39;s internal management processes, and two additional ones, one more positive and the other more negative. The combined outcome of these three scenarios is calculated considering the weight given to each of the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;m. The main macroeconomic variables that are valued in each of the scenarios for each of the geographies in which the Group operates are the Gross Domestic Product (GDP), the real estate price index, interest rates and the unemployment rate, although, in t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he first place, the main goal is seeking the greatest predictive capacity with respect to the former two (see Note 7.2.1).&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory>
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  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4262" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAARatingMember" unitRef="pure" decimals="INF">0.004</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4263" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAPlusRatingMember" unitRef="pure" decimals="INF">0.002</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4264" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAARatingMember" unitRef="pure" decimals="INF">0.002</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4265" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAMinusRatingMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4266" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAPlusRatingMember" unitRef="pure" decimals="INF">0</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4267" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsARatingMember" unitRef="pure" decimals="INF">0.017</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4268" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAMinusRatingMember" unitRef="pure" decimals="INF">0.468</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4269" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBPlusRatingMember" unitRef="pure" decimals="INF">0.222</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4270" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBRatingMember" unitRef="pure" decimals="INF">0.026</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4271" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBMinusRatingMember" unitRef="pure" decimals="INF">0.126</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4272" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBPlusRatingMember" unitRef="pure" decimals="INF">0.11</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4273" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_WithoutratingMember" unitRef="pure" decimals="INF">0.021</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4274" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_TotalexposuresMember" unitRef="pure" decimals="INF">1</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4275" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAARatingMember" unitRef="EUR" decimals="INF">39000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4276" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAPlusRatingMember" unitRef="EUR" decimals="INF">6481000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4277" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAARatingMember" unitRef="EUR" decimals="INF">14000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4278" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAMinusRatingMember" unitRef="EUR" decimals="INF">713000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4279" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAPlusRatingMember" unitRef="EUR" decimals="INF">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4280" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsARatingMember" unitRef="EUR" decimals="INF">16806000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4281" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAMinusRatingMember" unitRef="EUR" decimals="INF">607000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4282" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBPlusRatingMember" unitRef="EUR" decimals="INF">3715000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4283" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBRatingMember" unitRef="EUR" decimals="INF">551000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4284" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBMinusRatingMember" unitRef="EUR" decimals="INF">3745000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4285" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBPlusRatingMember" unitRef="EUR" decimals="INF">5123000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4286" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_WithoutratingMember" unitRef="EUR" decimals="INF">1083000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4287" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_TotalexposuresMember" unitRef="EUR" decimals="INF">38877000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4288" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAARatingMember" unitRef="EUR" decimals="INF">49000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4289" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAPlusRatingMember" unitRef="EUR" decimals="INF">1969000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4290" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAARatingMember" unitRef="EUR" decimals="INF">62000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4291" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAMinusRatingMember" unitRef="EUR" decimals="INF">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4292" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAPlusRatingMember" unitRef="EUR" decimals="INF">607000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4293" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsARatingMember" unitRef="EUR" decimals="INF">21000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4294" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAMinusRatingMember" unitRef="EUR" decimals="INF">6117000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4295" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBPlusRatingMember" unitRef="EUR" decimals="INF">13894000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4296" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBRatingMember" unitRef="EUR" decimals="INF">1623000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4297" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBMinusRatingMember" unitRef="EUR" decimals="INF">2694000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4298" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBPlusRatingMember" unitRef="EUR" decimals="INF">4371000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4299" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_WithoutratingMember" unitRef="EUR" decimals="INF">1123000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_4300" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_TotalexposuresMember" unitRef="EUR" decimals="INF">32530000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4301" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAARatingMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4302" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAPlusRatingMember" unitRef="pure" decimals="INF">0.167</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4303" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAARatingMember" unitRef="pure" decimals="INF">0</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4304" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAMinusRatingMember" unitRef="pure" decimals="INF">0.018</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4305" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAPlusRatingMember" unitRef="pure" decimals="INF">0</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4306" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsARatingMember" unitRef="pure" decimals="INF">0.432</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4307" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAMinusRatingMember" unitRef="pure" decimals="INF">0.016</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4308" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBPlusRatingMember" unitRef="pure" decimals="INF">0.096</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4309" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBRatingMember" unitRef="pure" decimals="INF">0.014</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4310" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBMinusRatingMember" unitRef="pure" decimals="INF">0.096</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4311" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBPlusRatingMember" unitRef="pure" decimals="INF">0.132</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4312" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_WithoutratingMember" unitRef="pure" decimals="INF">0.028</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4313" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_TotalexposuresMember" unitRef="pure" decimals="INF">1</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4314" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAARatingMember" unitRef="pure" decimals="INF">0.002</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4315" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAPlusRatingMember" unitRef="pure" decimals="INF">0.061</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4316" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAARatingMember" unitRef="pure" decimals="INF">0.002</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4317" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAMinusRatingMember" unitRef="pure" decimals="INF">0</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4318" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAPlusRatingMember" unitRef="pure" decimals="INF">0.019</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4319" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsARatingMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4320" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAMinusRatingMember" unitRef="pure" decimals="INF">0.188</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4321" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBPlusRatingMember" unitRef="pure" decimals="INF">0.427</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4322" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBRatingMember" unitRef="pure" decimals="INF">0.05</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4323" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBMinusRatingMember" unitRef="pure" decimals="INF">0.083</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4324" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBPlusRatingMember" unitRef="pure" decimals="INF">0.134</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4325" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_WithoutratingMember" unitRef="pure" decimals="INF">0.035</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_4326" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_TotalexposuresMember" unitRef="pure" decimals="INF">1</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <ifrs-full:LiabilitiesDueToCentralBanks id="ID_4327" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TableoffinancialliabilitiesatamortizedcostaxisAxis_bbva_CurrentaccountMember" unitRef="EUR" decimals="INF">163000000</ifrs-full:LiabilitiesDueToCentralBanks>
  <ifrs-full:LiabilitiesDueToCentralBanks id="ID_4328" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_TableoffinancialliabilitiesatamortizedcostaxisAxis_bbva_CurrentaccountMember" unitRef="EUR" decimals="INF">23000000</ifrs-full:LiabilitiesDueToCentralBanks>
  <ifrs-full:LiabilitiesDueToCentralBanks id="ID_4329" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TableoffinancialliabilitiesatamortizedcostaxisAxis_bbva_CurrentaccountMember" unitRef="EUR" decimals="INF">20000000</ifrs-full:LiabilitiesDueToCentralBanks>
  <ifrs-full:LiabilitiesDueToCentralBanks id="ID_4330" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TableoffinancialliabilitiesatamortizedcostaxisAxis_bbva_TermaccountMember" unitRef="EUR" decimals="INF">38274000000</ifrs-full:LiabilitiesDueToCentralBanks>
  <ifrs-full:LiabilitiesDueToCentralBanks id="ID_4331" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_TableoffinancialliabilitiesatamortizedcostaxisAxis_bbva_TermaccountMember" unitRef="EUR" decimals="INF">25101000000</ifrs-full:LiabilitiesDueToCentralBanks>
  <ifrs-full:LiabilitiesDueToCentralBanks id="ID_4332" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TableoffinancialliabilitiesatamortizedcostaxisAxis_bbva_TermaccountMember" unitRef="EUR" decimals="INF">26885000000</ifrs-full:LiabilitiesDueToCentralBanks>
  <ifrs-full:LiabilitiesDueToCentralBanks id="ID_4333" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TableoffinancialliabilitiesatamortizedcostaxisAxis_bbva_TemporalassetleaseMember" unitRef="EUR" decimals="INF">6740000000</ifrs-full:LiabilitiesDueToCentralBanks>
  <ifrs-full:LiabilitiesDueToCentralBanks id="ID_4334" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_TableoffinancialliabilitiesatamortizedcostaxisAxis_bbva_TemporalassetleaseMember" unitRef="EUR" decimals="INF">826000000</ifrs-full:LiabilitiesDueToCentralBanks>
  <ifrs-full:LiabilitiesDueToCentralBanks id="ID_4335" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TableoffinancialliabilitiesatamortizedcostaxisAxis_bbva_TemporalassetleaseMember" unitRef="EUR" decimals="INF">375000000</ifrs-full:LiabilitiesDueToCentralBanks>
  <bbva:Securitizedmortgageassets id="ID_4336" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">23953000000</bbva:Securitizedmortgageassets>
  <bbva:Securitizedmortgageassets id="ID_4337" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">26169000000</bbva:Securitizedmortgageassets>
  <bbva:Securitizedmortgageassets id="ID_4338" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">26556000000</bbva:Securitizedmortgageassets>
  <bbva:Othersecuritizedassets id="ID_4339" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">6144000000</bbva:Othersecuritizedassets>
  <bbva:Othersecuritizedassets id="ID_4340" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">4249000000</bbva:Othersecuritizedassets>
  <bbva:Othersecuritizedassets id="ID_4341" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">3221000000</bbva:Othersecuritizedassets>
  <bbva:Totalsecuritizedassetsloans id="ID_4342" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">30098000000</bbva:Totalsecuritizedassetsloans>
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  <bbva:Goodwillattheendoftheperiod id="ID_4569" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_TK" unitRef="EUR" decimals="INF">254000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4570" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">550000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4571" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4572" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">-72000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4573" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <bbva:Companiesintheprocessofsale1 id="ID_4574" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">0</bbva:Companiesintheprocessofsale1>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4575" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4576" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">478000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4577" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">164000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4578" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4579" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">-21000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4580" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <bbva:Companiesintheprocessofsale1 id="ID_4581" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">0</bbva:Companiesintheprocessofsale1>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4582" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4583" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">143000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4584" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">27000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4585" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4586" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4587" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <bbva:Companiesintheprocessofsale1 id="ID_4588" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">0</bbva:Companiesintheprocessofsale1>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4589" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4590" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">27000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4591" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">22000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4592" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4593" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">-1000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4594" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">-13000000</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <bbva:Companiesintheprocessofsale1 id="ID_4595" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">0</bbva:Companiesintheprocessofsale1>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4596" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4597" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">8000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4598" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">4955000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4599" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4600" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-208000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4601" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-2097000000</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <bbva:Companiesintheprocessofsale1 id="ID_4602" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-1740000000</bbva:Companiesintheprocessofsale1>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4603" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4604" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">910000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4605" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_US" unitRef="EUR" decimals="INF">5066000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4606" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_US" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4607" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_US" unitRef="EUR" decimals="INF">98000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4608" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_US" unitRef="EUR" decimals="INF">-1318000000</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4609" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_US" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4610" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_US" unitRef="EUR" decimals="INF">3846000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4611" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_TK" unitRef="EUR" decimals="INF">382000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4612" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_TK" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4613" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_TK" unitRef="EUR" decimals="INF">-36000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4614" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_TK" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4615" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_TK" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4616" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_TK" unitRef="EUR" decimals="INF">346000000</bbva:Goodwillattheendoftheperiod>
  <ifrs-full:DepositsFromBanks id="ID_4617" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DemanddepositsandotherMember_bbva_GeographydepositsfrombanksAxis_bbva_IssuedinEurosMember" unitRef="EUR" decimals="INF">1981000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4618" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DepositswithagreedmaturityMember_bbva_GeographydepositsfrombanksAxis_bbva_IssuedinEurosMember" unitRef="EUR" decimals="INF">2527000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4619" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_RepurchaseagreementsMember_bbva_GeographydepositsfrombanksAxis_bbva_IssuedinEurosMember" unitRef="EUR" decimals="INF">55000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4620" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_TotalMember_bbva_GeographydepositsfrombanksAxis_bbva_IssuedinEurosMember" unitRef="EUR" decimals="INF">4563000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4621" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DemanddepositsandotherMember_bbva_GeographydepositsfrombanksAxis_country_US" unitRef="EUR" decimals="INF">1701000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4622" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DepositswithagreedmaturityMember_bbva_GeographydepositsfrombanksAxis_country_US" unitRef="EUR" decimals="INF">2677000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4623" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_RepurchaseagreementsMember_bbva_GeographydepositsfrombanksAxis_country_US" unitRef="EUR" decimals="INF">0</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4624" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_TotalMember_bbva_GeographydepositsfrombanksAxis_country_US" unitRef="EUR" decimals="INF">4379000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4625" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DemanddepositsandotherMember_bbva_GeographydepositsfrombanksAxis_country_MX" unitRef="EUR" decimals="INF">280000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4626" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DepositswithagreedmaturityMember_bbva_GeographydepositsfrombanksAxis_country_MX" unitRef="EUR" decimals="INF">286000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4627" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_RepurchaseagreementsMember_bbva_GeographydepositsfrombanksAxis_country_MX" unitRef="EUR" decimals="INF">0</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4628" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_TotalMember_bbva_GeographydepositsfrombanksAxis_country_MX" unitRef="EUR" decimals="INF">566000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4629" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DemanddepositsandotherMember_bbva_GeographydepositsfrombanksAxis_country_TK" unitRef="EUR" decimals="INF">651000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4630" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DepositswithagreedmaturityMember_bbva_GeographydepositsfrombanksAxis_country_TK" unitRef="EUR" decimals="INF">669000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4631" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_RepurchaseagreementsMember_bbva_GeographydepositsfrombanksAxis_country_TK" unitRef="EUR" decimals="INF">4000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4632" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_TotalMember_bbva_GeographydepositsfrombanksAxis_country_TK" unitRef="EUR" decimals="INF">1323000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4633" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DemanddepositsandotherMember_bbva_GeographydepositsfrombanksAxis_country_SA" unitRef="EUR" decimals="INF">442000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4634" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DepositswithagreedmaturityMember_bbva_GeographydepositsfrombanksAxis_country_SA" unitRef="EUR" decimals="INF">1892000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4635" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_RepurchaseagreementsMember_bbva_GeographydepositsfrombanksAxis_country_SA" unitRef="EUR" decimals="INF">0</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4636" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_TotalMember_bbva_GeographydepositsfrombanksAxis_country_SA" unitRef="EUR" decimals="INF">2335000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4637" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DemanddepositsandotherMember_bbva_GeographydepositsfrombanksAxis_bbva_RestofeuropeMember" unitRef="EUR" decimals="INF">3108000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4638" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DepositswithagreedmaturityMember_bbva_GeographydepositsfrombanksAxis_bbva_RestofeuropeMember" unitRef="EUR" decimals="INF">6903000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4639" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_RepurchaseagreementsMember_bbva_GeographydepositsfrombanksAxis_bbva_RestofeuropeMember" unitRef="EUR" decimals="INF">4534000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4640" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_TotalMember_bbva_GeographydepositsfrombanksAxis_bbva_RestofeuropeMember" unitRef="EUR" decimals="INF">14545000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4641" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DemanddepositsandotherMember_bbva_GeographydepositsfrombanksAxis_bbva_RestOftheworldMember" unitRef="EUR" decimals="INF">207000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4642" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DepositswithagreedmaturityMember_bbva_GeographydepositsfrombanksAxis_bbva_RestOftheworldMember" unitRef="EUR" decimals="INF">4061000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4643" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_RepurchaseagreementsMember_bbva_GeographydepositsfrombanksAxis_bbva_RestOftheworldMember" unitRef="EUR" decimals="INF">0</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4644" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_TotalMember_bbva_GeographydepositsfrombanksAxis_bbva_RestOftheworldMember" unitRef="EUR" decimals="INF">4268000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4645" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DemanddepositsandotherMember_bbva_GeographydepositsfrombanksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">8370000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4646" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_DepositswithagreedmaturityMember_bbva_GeographydepositsfrombanksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">19015000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4647" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_RepurchaseagreementsMember_bbva_GeographydepositsfrombanksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">4593000000</ifrs-full:DepositsFromBanks>
  <ifrs-full:DepositsFromBanks id="ID_4648" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DepositsfrombanksbreakdownbygeographyAxis_bbva_TotalMember_bbva_GeographydepositsfrombanksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">31978000000</ifrs-full:DepositsFromBanks>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4649" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">519000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4650" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4651" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">31000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4652" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4653" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4654" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">550000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4655" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">161000000</bbva:Goodwillatthebegginingoftheperiod>
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  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4657" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">3000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4658" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4659" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4660" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">164000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4661" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">29000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4662" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4663" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">-2000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4664" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4665" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4666" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">27000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4667" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">23000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4668" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4669" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">-1000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4670" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4671" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4672" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">22000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4673" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">6180000000</bbva:Goodwillatthebegginingoftheperiod>
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  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4675" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">93000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4676" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-1318000000</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4677" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4678" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">4955000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4679" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_US" unitRef="EUR" decimals="INF">4837000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4680" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_US" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4681" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_US" unitRef="EUR" decimals="INF">229000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4682" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_US" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4683" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_US" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4684" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_US" unitRef="EUR" decimals="INF">5066000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4685" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_TK" unitRef="EUR" decimals="INF">509000000</bbva:Goodwillatthebegginingoftheperiod>
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  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4688" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_TK" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4689" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_TK" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
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  <bbva:Goodwillatthebegginingoftheperiod id="ID_4691" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">493000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4692" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4693" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">26000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4694" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4695" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_MX" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
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  <bbva:Goodwillatthebegginingoftheperiod id="ID_4697" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">168000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4698" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4699" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">-7000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4700" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
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  <bbva:Goodwillattheendoftheperiod id="ID_4702" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_country_CO" unitRef="EUR" decimals="INF">161000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4703" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">32000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4704" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
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  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4706" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_ChileMember" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
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  <bbva:Goodwillatthebegginingoftheperiod id="ID_4709" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">23000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4710" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill id="ID_4711" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4712" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4713" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4714" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_RestMember" unitRef="EUR" decimals="INF">23000000</bbva:Goodwillattheendoftheperiod>
  <bbva:Goodwillatthebegginingoftheperiod id="ID_4715" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">6062000000</bbva:Goodwillatthebegginingoftheperiod>
  <ifrs-full:AdditionalRecognitionGoodwill id="ID_4716" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">0</ifrs-full:AdditionalRecognitionGoodwill>
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  <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill id="ID_4718" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">0</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
  <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill id="ID_4719" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill>
  <bbva:Goodwillattheendoftheperiod id="ID_4720" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">6180000000</bbva:Goodwillattheendoftheperiod>
  <ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections id="ID_4721" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureofimpairmenttesthypothesestableAxis_country_US" unitRef="pure" decimals="INF">0.103</ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections>
  <ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections id="ID_4722" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureofimpairmenttesthypothesestableAxis_country_US" unitRef="pure" decimals="INF">0.03</ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections>
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  <bbva:Cashflowhedges id="ID_4960" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="EUR" decimals="INF">2576000000</bbva:Cashflowhedges>
  <bbva:Cashflowhedges id="ID_4961" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanFiveYearsMember" unitRef="EUR" decimals="INF">6972000000</bbva:Cashflowhedges>
  <bbva:Cashflowhedges id="ID_4962" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">22852000000</bbva:Cashflowhedges>
  <bbva:OfwhichtypeofinterestCashFlowHedges id="ID_4963" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_NotLaterThanThreeMonthsMember" unitRef="EUR" decimals="INF">6756000000</bbva:OfwhichtypeofinterestCashFlowHedges>
  <bbva:OfwhichtypeofinterestCashFlowHedges id="ID_4964" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="EUR" decimals="INF">154000000</bbva:OfwhichtypeofinterestCashFlowHedges>
  <bbva:OfwhichtypeofinterestCashFlowHedges id="ID_4965" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="EUR" decimals="INF">1816000000</bbva:OfwhichtypeofinterestCashFlowHedges>
  <bbva:OfwhichtypeofinterestCashFlowHedges id="ID_4966" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanFiveYearsMember" unitRef="EUR" decimals="INF">6600000000</bbva:OfwhichtypeofinterestCashFlowHedges>
  <bbva:OfwhichtypeofinterestCashFlowHedges id="ID_4967" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">15326000000</bbva:OfwhichtypeofinterestCashFlowHedges>
  <bbva:Coverageofnetinvestmentsinforeignbusinesses id="ID_4968" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_NotLaterThanThreeMonthsMember" unitRef="EUR" decimals="INF">1853000000</bbva:Coverageofnetinvestmentsinforeignbusinesses>
  <bbva:Coverageofnetinvestmentsinforeignbusinesses id="ID_4969" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="EUR" decimals="INF">2910000000</bbva:Coverageofnetinvestmentsinforeignbusinesses>
  <bbva:Coverageofnetinvestmentsinforeignbusinesses id="ID_4970" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="EUR" decimals="INF">0</bbva:Coverageofnetinvestmentsinforeignbusinesses>
  <bbva:Coverageofnetinvestmentsinforeignbusinesses id="ID_4971" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanFiveYearsMember" unitRef="EUR" decimals="INF">0</bbva:Coverageofnetinvestmentsinforeignbusinesses>
  <bbva:Coverageofnetinvestmentsinforeignbusinesses id="ID_4972" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">4763000000</bbva:Coverageofnetinvestmentsinforeignbusinesses>
  <bbva:Fairvaluehedgesoftheporrfoliosinterestraterisk id="ID_4973" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_NotLaterThanThreeMonthsMember" unitRef="EUR" decimals="INF">299000000</bbva:Fairvaluehedgesoftheporrfoliosinterestraterisk>
  <bbva:Fairvaluehedgesoftheporrfoliosinterestraterisk id="ID_4974" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="EUR" decimals="INF">576000000</bbva:Fairvaluehedgesoftheporrfoliosinterestraterisk>
  <bbva:Fairvaluehedgesoftheporrfoliosinterestraterisk id="ID_4975" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="EUR" decimals="INF">1533000000</bbva:Fairvaluehedgesoftheporrfoliosinterestraterisk>
  <bbva:Fairvaluehedgesoftheporrfoliosinterestraterisk id="ID_4976" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanFiveYearsMember" unitRef="EUR" decimals="INF">1029000000</bbva:Fairvaluehedgesoftheporrfoliosinterestraterisk>
  <bbva:Fairvaluehedgesoftheporrfoliosinterestraterisk id="ID_4977" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">3437000000</bbva:Fairvaluehedgesoftheporrfoliosinterestraterisk>
  <bbva:Cashflowhedgesoftheportfoliointerestraterisk id="ID_4978" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_NotLaterThanThreeMonthsMember" unitRef="EUR" decimals="INF">101000000</bbva:Cashflowhedgesoftheportfoliointerestraterisk>
  <bbva:Cashflowhedgesoftheportfoliointerestraterisk id="ID_4979" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="EUR" decimals="INF">11000000</bbva:Cashflowhedgesoftheportfoliointerestraterisk>
  <bbva:Cashflowhedgesoftheportfoliointerestraterisk id="ID_4980" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="EUR" decimals="INF">1049000000</bbva:Cashflowhedgesoftheportfoliointerestraterisk>
  <bbva:Cashflowhedgesoftheportfoliointerestraterisk id="ID_4981" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanFiveYearsMember" unitRef="EUR" decimals="INF">0</bbva:Cashflowhedgesoftheportfoliointerestraterisk>
  <bbva:Cashflowhedgesoftheportfoliointerestraterisk id="ID_4982" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">1161000000</bbva:Cashflowhedgesoftheportfoliointerestraterisk>
  <bbva:DerivativeshedgeaccountingUSAStatement id="ID_4983" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_NotLaterThanThreeMonthsMember" unitRef="EUR" decimals="INF">15933000000</bbva:DerivativeshedgeaccountingUSAStatement>
  <bbva:DerivativeshedgeaccountingUSAStatement id="ID_4984" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="EUR" decimals="INF">17340000000</bbva:DerivativeshedgeaccountingUSAStatement>
  <bbva:DerivativeshedgeaccountingUSAStatement id="ID_4985" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="EUR" decimals="INF">33984000000</bbva:DerivativeshedgeaccountingUSAStatement>
  <bbva:DerivativeshedgeaccountingUSAStatement id="ID_4986" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanFiveYearsMember" unitRef="EUR" decimals="INF">26623000000</bbva:DerivativeshedgeaccountingUSAStatement>
  <bbva:DerivativeshedgeaccountingUSAStatement id="ID_4987" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">93881000000</bbva:DerivativeshedgeaccountingUSAStatement>
  <bbva:Subordinateddeposits id="ID_4988" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">12000000</bbva:Subordinateddeposits>
  <bbva:Subordinateddeposits id="ID_4989" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">384000000</bbva:Subordinateddeposits>
  <bbva:Subordinateddeposits id="ID_4990" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">411000000</bbva:Subordinateddeposits>
  <bbva:Subordinatedsecurities id="ID_4991" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">16476000000</bbva:Subordinatedsecurities>
  <bbva:Subordinatedsecurities id="ID_4992" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">17635000000</bbva:Subordinatedsecurities>
  <bbva:Subordinatedsecurities id="ID_4993" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">17635000000</bbva:Subordinatedsecurities>
  <bbva:Preferredsecurities id="ID_4994" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">194000000</bbva:Preferredsecurities>
  <bbva:Preferredsecurities id="ID_4995" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">159000000</bbva:Preferredsecurities>
  <bbva:Preferredsecurities id="ID_4996" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">181000000</bbva:Preferredsecurities>
  <bbva:Convertiblecompoundfinancialinstruments id="ID_4997" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">6133000000</bbva:Convertiblecompoundfinancialinstruments>
  <bbva:Convertiblecompoundfinancialinstruments id="ID_4998" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">6782000000</bbva:Convertiblecompoundfinancialinstruments>
  <bbva:Convertiblecompoundfinancialinstruments id="ID_4999" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">6363000000</bbva:Convertiblecompoundfinancialinstruments>
  <bbva:Othernonconvertiblesubordinatedfinancing id="ID_5000" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">10149000000</bbva:Othernonconvertiblesubordinatedfinancing>
  <bbva:Othernonconvertiblesubordinatedfinancing id="ID_5001" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">10693000000</bbva:Othernonconvertiblesubordinatedfinancing>
  <bbva:Othernonconvertiblesubordinatedfinancing id="ID_5002" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">11092000000</bbva:Othernonconvertiblesubordinatedfinancing>
  <bbva:Total id="ID_5003" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">16488000000</bbva:Total>
  <bbva:Total id="ID_5004" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">18018000000</bbva:Total>
  <bbva:Total id="ID_5005" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">18047000000</bbva:Total>
  <bbva:Fairvaluehedges id="ID_5006" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_NotLaterThanThreeMonthsMember" unitRef="EUR" decimals="INF">3581000000</bbva:Fairvaluehedges>
  <bbva:Fairvaluehedges id="ID_5007" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" unitRef="EUR" decimals="INF">10945000000</bbva:Fairvaluehedges>
  <bbva:Fairvaluehedges id="ID_5008" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" unitRef="EUR" decimals="INF">28487000000</bbva:Fairvaluehedges>
  <bbva:Fairvaluehedges id="ID_5009" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_ifrs-full_LaterThanFiveYearsMember" unitRef="EUR" decimals="INF">18656000000</bbva:Fairvaluehedges>
  <bbva:Fairvaluehedges id="ID_5010" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_TimeAxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">61668000000</bbva:Fairvaluehedges>
  <bbva:Mortalitytable id="ID_5011" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">GRMF 80-2,
GKM 80 / GKMF 95, PASEM,
GKMF 80/95,
PERFM 2000</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5012" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">Tables of the Comisi&#243;n Nacional de Seguros y Fianzas 2000-individual</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5013" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_SavingsinsuranceMember">PERFM 2000</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5014" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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>
  <bbva:Averagetechnicalinteresttype id="ID_5015" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">0.25% -2.87%</bbva:Averagetechnicalinteresttype>
  <bbva:Averagetechnicalinteresttype id="ID_5016" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">2.5%</bbva:Averagetechnicalinteresttype>
  <bbva:Averagetechnicalinteresttype id="ID_5017" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_SavingsinsuranceMember">Depending on the related portfolio</bbva:Averagetechnicalinteresttype>
  <bbva:Averagetechnicalinteresttype id="ID_5018" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_SavingsinsuranceMember">5.5%</bbva:Averagetechnicalinteresttype>
  <bbva:Mortalitytable id="ID_5019" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">GRMF 80-2, GKMF 80/95. PASEM, PERMF 2000</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5020" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">Tables of the Comisi&#243;n Nacional de Seguros y Fianzas 2000-individual</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5021" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_SavingsinsuranceMember">PERMF 2000</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5022" 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>
  <bbva:Averagetechnicalinteresttype id="ID_5023" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">0.25% -2.91%</bbva:Averagetechnicalinteresttype>
  <bbva:Averagetechnicalinteresttype id="ID_5024" 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_5025" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_SavingsinsuranceMember">Depending on the related portfolio</bbva:Averagetechnicalinteresttype>
  <bbva:Averagetechnicalinteresttype id="ID_5026" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_SavingsinsuranceMember">5.50%</bbva:Averagetechnicalinteresttype>
  <bbva:Mortalitytable id="ID_5027" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">GRMF 80-2, GKM 80 / GKMF 95
PERMF 2000
PASEM</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5028" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">Tables of the Comisi&#243;n Nacional de Seguros y Fianzas 2000-individual</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5029" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_SavingsinsuranceMember">PERMF 2000</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5030" contextRef="FROM_Jan01_2018_TO_Dec31_2018_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>
  <bbva:Averagetechnicalinteresttype id="ID_5031" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">0.26%-3.27%</bbva:Averagetechnicalinteresttype>
  <bbva:Averagetechnicalinteresttype id="ID_5032" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">2.50%</bbva:Averagetechnicalinteresttype>
  <bbva:Averagetechnicalinteresttype id="ID_5033" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_SavingsinsuranceMember">Depending on the related portfolio</bbva:Averagetechnicalinteresttype>
  <bbva:Averagetechnicalinteresttype id="ID_5034" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_SavingsinsuranceMember">5.50%</bbva:Averagetechnicalinteresttype>
  <bbva:Financialassetsmeasuredatfairvaluewithchangesinothercomprehensiveincome id="ID_5035" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_InstrumentscoveredbyfairvaluehedgesaxisAxis_bbva_MicrocoveragebookamountmemberMember" unitRef="EUR" decimals="INF">28091000000</bbva:Financialassetsmeasuredatfairvaluewithchangesinothercomprehensiveincome>
  <bbva:Financialassetsmeasuredatfairvaluewithchangesinothercomprehensiveincome id="ID_5036" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_InstrumentscoveredbyfairvaluehedgesaxisAxis_bbva_HedgeadjustmentsincludedinthecarryingamountofassetsliabilitiesmemberMember" unitRef="EUR" decimals="INF">-99000000</bbva:Financialassetsmeasuredatfairvaluewithchangesinothercomprehensiveincome>
  <bbva:Financialassetsmeasuredatfairvaluewithchangesinothercomprehensiveincome id="ID_5037" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_InstrumentscoveredbyfairvaluehedgesaxisAxis_bbva_OtheradjustmentsfordiscontinuedmicrohedgesincludingnetpositionhedgesmemberMember" unitRef="EUR" decimals="INF">12000000</bbva:Financialassetsmeasuredatfairvaluewithchangesinothercomprehensiveincome>
  <bbva:Financialassetsmeasuredatfairvaluewithchangesinothercomprehensiveincome id="ID_5038" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_InstrumentscoveredbyfairvaluehedgesaxisAxis_bbva_MacrocoveragescoveredelementsofaportfoliowithcoverageofinterestrateriskmemberMember" unitRef="EUR" decimals="INF">0</bbva:Financialassetsmeasuredatfairvaluewithchangesinothercomprehensiveincome>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5039" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_NolaterthanoneyearMember" unitRef="EUR" decimals="INF">1227000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5040" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember" unitRef="EUR" decimals="INF">950000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5041" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_LaterthanthreeyearandnotlaterthantfiveyearsMember" unitRef="EUR" decimals="INF">1616000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5042" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_ifrs-full_LaterThanFiveYearsMember" unitRef="EUR" decimals="INF">6158000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5043" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">9951000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5044" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_NolaterthanoneyearMember" unitRef="EUR" decimals="INF">1571000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5045" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember" unitRef="EUR" decimals="INF">1197000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5046" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_LaterthanthreeyearandnotlaterthantfiveyearsMember" unitRef="EUR" decimals="INF">1806000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5047" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_ifrs-full_LaterThanFiveYearsMember" unitRef="EUR" decimals="INF">6032000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5048" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">10606000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
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  <bbva:Mortalitytable id="ID_5699" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_MX">EMSSA09</bbva:Mortalitytable>
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  <bbva:Companiesinthesaleprocesstangibleassets id="ID_5992" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CarryingamountaccumulatedbreakdownbytypesofinstrumentsandchangesaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ClassesoftangibleassetsaxisAxis_ifrs-full_InvestmentPropertyMember" unitRef="EUR" decimals="INF">0</bbva:Companiesinthesaleprocesstangibleassets>
  <bbva:Transferstangibleassets id="ID_5993" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CarryingamountaccumulatedbreakdownbytypesofinstrumentsandchangesaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ClassesoftangibleassetsaxisAxis_ifrs-full_InvestmentPropertyMember" unitRef="EUR" decimals="INF">7000000</bbva:Transferstangibleassets>
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  <bbva:Additionstangibleassets id="ID_5995" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CarryingamountaccumulatedbreakdownbytypesofinstrumentsandchangesaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ClassesoftangibleassetsaxisAxis_bbva_AssestsleasedoutunderanoperatingleaseMember" unitRef="EUR" decimals="INF">0</bbva:Additionstangibleassets>
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  <bbva:Definedbenefitcommitmentsplan id="ID_6003" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofdefinedbenefitcommitmentsaxisAxis_bbva_InterestexpenseincomenetdefinedbenefitliabilityassetMember_ifrs-full_NetDefinedBenefitLiabilityAssetAxis_ifrs-full_PlanAssetsMember" unitRef="EUR" decimals="INF">206000000</bbva:Definedbenefitcommitmentsplan>
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  <bbva:Definedbenefitcommitmentsplan id="ID_6005" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofdefinedbenefitcommitmentsaxisAxis_bbva_ContributionstoplannetdefinedbenefitliabilityassetMember_ifrs-full_NetDefinedBenefitLiabilityAssetAxis_ifrs-full_PresentValueOfDefinedBenefitObligationMember" unitRef="EUR" decimals="INF">4000000</bbva:Definedbenefitcommitmentsplan>
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  <bbva:Transferstangibleassets id="ID_6065" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CarryingamountaccumulatedbreakdownbytypesofinstrumentsandchangesaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ClassesoftangibleassetsaxisAxis_bbva_AssestsleasedoutunderanoperatingleaseMember" unitRef="EUR" decimals="INF">0</bbva:Transferstangibleassets>
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  <bbva:Additionstangibleassets id="ID_6067" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CarryingamountaccumulatedbreakdownbytypesofinstrumentsandchangesaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ClassesoftangibleassetsaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">125000000</bbva:Additionstangibleassets>
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  <bbva:Companiesinthesaleprocesstangibleassets id="ID_6080" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CarryingamountaccumulatedbreakdownbytypesofinstrumentsandchangesaxisAxis_ifrs-full_AccumulatedDepreciationAndAmortisationMember_bbva_ClassesoftangibleassetsaxisAxis_bbva_WorkinprogressMember" unitRef="EUR" decimals="INF">0</bbva:Companiesinthesaleprocesstangibleassets>
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  <bbva:Provisionstransferredtodiscontinuedoperationstangibleassets id="ID_6084" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CarryingamountaccumulatedbreakdownbytypesofinstrumentsandchangesaxisAxis_ifrs-full_AccumulatedDepreciationAndAmortisationMember_bbva_ClassesoftangibleassetsaxisAxis_bbva_WorkinprogressMember" unitRef="EUR" decimals="INF">0</bbva:Provisionstransferredtodiscontinuedoperationstangibleassets>
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  <ifrs-full:LiabilityAssetOfDefinedBenefitPlans id="ID_6989" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureofnetdefinedbenefitliabilityassetbycountryAxis_bbva_OtherMember" unitRef="EUR" decimals="INF">36000000</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
  <bbva:Derivativeshedgeaccountingandfairvaluechangesofthehedgeditemsinportfoliohedgesofinterestrateriskapplicableinthefinancialyears20182017and2016 id="ID_6990" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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 A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;ccounting&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;The G&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;roup uses financial derivatives as a tool for managing financial risks, mainly interest rates and exchange rates (See Note 7).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;When these transactions &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;meet certain requirements, they are considered &amp;quot;hedging&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;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 hedg&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e accounting instruments are recognized as follows:&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;In fair value 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;' &gt;ed under the heading &amp;#8220;Gains (l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;osses&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; from hedge accounting, net&amp;#8221; in th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e consolidated income statement, with a corresponding offset under the headings where hedging items (&amp;quot;Hedging derivatives&amp;quot;) and the hedged items are recognized, as applicable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, except for interest-rate risks hedges (which are a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lmost all of the hedges used b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y the 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;, for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; which &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the valuation changes are recognized under the headings &amp;#8220;Interest and other income&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;, as appropriate, in the accompanying consolidated income statement (see Note 37).&lt;/font&gt;&lt;/span&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;In fair value hedges of interest rate risk o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f 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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;with &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the corresponding offset &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on the headings &amp;#8220;Derivatives-Hedge Accounting&amp;#8221; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 ca&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ses under the heading &amp;#8220;Gains (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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; from hedge accounting, net&amp;#8221;, using, as a balancing item, the headings &amp;quot;Fair value changes of the hedged items in portfolio hedges of interest rate risk&amp;quot; in the consolidated balance sheets, as applicable).&lt;/font&gt;&lt;/span&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;In cash flow hedges, the gain or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; loss on the hedging instruments relating to the effective portion are recognized temporarily under the heading &amp;#8220;Accumulated other comprehensive income (loss) - Items that may be reclassified to profit or loss - Hedging derivatives. Cash flow hedges (effec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tive portion)&amp;#8221; in the consolidated balance sheets, with a balancing entry under the heading &amp;#8220;Hedging derivatives&amp;#8221; of the Assets or Liabilities of the consolidated balance sheets as applicable. These differences are recognized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;under&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;headings &amp;#8220;Interest and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;other income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; at the time when the gain or loss in the hedged instrument affects profit or loss, when the forecast transaction is executed or at the maturity date of the hedged item (see Note 37). &lt;/font&gt;&lt;/span&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;Differences in the measurement of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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;' &gt;rectly in the heading &amp;#8220;Gains (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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; 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: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;In the hedges of net investments in fore&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ign operations, the differences attributable to the effective portions of hedging items are recognized temporarily under the heading &amp;quot;Accumulated other comprehensive income (loss) - Items that may be reclassified t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;o profit or loss &amp;#8211; Hedging of net investme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nts in foreign operations (effective portion)&amp;quot; in the consolidated balance sheets with a balancing entry under the heading &amp;#8220;Hedging derivatives&amp;#8221; of the Assets or Liabilities of the consolidated balance sheets as applicable. These differences in valuation a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;re 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 derecognized (see Note 41).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Derivativeshedgeaccountingandfairvaluechangesofthehedgeditemsinportfoliohedgesofinterestrateriskapplicableinthefinancialyears20182017and2016>
  <ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory id="ID_6991" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.5. &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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;use&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;This heading includes the 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 con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;solidated entities in full or 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 te&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rms, see Note 2.2.18 &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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;comparing the net carrying amount of each item with its corresponding recoverable amount (see Note 17).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;their residual value; the land is considered 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 Amortiza&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tion&amp;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):&lt;/font&gt;&lt;/p&gt;&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;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:15pt;' &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;font-weight:bold;color:#072146;' &gt;Type of assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:187,5pt;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;tr style='height:21pt;' &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;Lease use rights&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;The lesser of the lease term or the useful life of the underlying asset&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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 analy&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ze 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&amp;#8217;s net carrying amount with its recoverable a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mount (&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 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 for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ward are adjusted to reflect the asset&amp;#8217;s remaining useful life.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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 an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d recognize it in the consolidated income 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;its carrying amount above that which 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 cor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;responding impairment analyses are performed 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 a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;n 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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hose described in 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 depreciatio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n 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 no&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r are destined for 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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hose described in relation 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 invest&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ment property assets&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;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory>
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  <bbva:Exchangedifferencesandothertangibleassets id="ID_7033" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_CarryingamountaccumulatedbreakdownbytypesofinstrumentsandchangesaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_ClassesoftangibleassetsaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-213000000</bbva:Exchangedifferencesandothertangibleassets>
  <ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory id="ID_7034" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The &amp;#8220;expected losses&amp;#8221; impairment &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;model is applied to financial assets valued at amortized cost, to debt instruments valued at fair value with changes in other accumulated comprehensive income, to financial guarantee contracts and other commitments. All financial instruments valued at fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; value through profit or loss are excluded from the impairment 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 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 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 mus&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t 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: &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;Expected loss at 12 months:&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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: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;Expected loss during the life of the transaction: this is the expected credit loss that arises from all &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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;Both, the modeling for expected losses estimates and the factors affecting such losses forecasts require considerable judgment, which must be carried out on a weighted probability&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:0pt;' &gt;The Group &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;has applied a definition of default for financial instruments that is consistent with that used in i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nternal credit risk management, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and coherent with the definition applied by &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the Group within the prudential context. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The Group has considered the existence of 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 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 instrume&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;nt.&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 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, 2020, the Group &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;has not considered periods higher than 90 days for any significant portfolio. &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;These criteria are aligned in all the geographies where the Group operates, being only minor differences kept in order to facilitate management adoption al a national level. In &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;this sense, national criteria are permitted, within the Group standards and searching for consistency and coherence between the geographies, easing the adoption of the default definition management.&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:0pt;' &gt;An asset is credit-impaired accordi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ng 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:&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 financi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;al 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:0pt;' &gt;It may not be possible to identify a single discrete event. Instead, the combined effect of several events may cause financial assets to become credit-impaired.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;definition of impaired financial assets in the Group is aligned with the definition of default explained in the above paragraphs.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Credit risk management for wholesale counterparties is carried out at the customer (or group) level. For this reason, the clas&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sification of any of a client&amp;#39;s exposures as impaired, whether due to more than 90 days of default or due to any of the subjective criteria, implies the classification as impaired of all the client&amp;#39;s exposures. There may be some justified exception that, i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n any case, are not significant.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Regarding retail clients, which are managed at the operation level, the scoring systems review their score, among other reasons, in the event of a breach in any of their &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; which also triggers the necessary recove&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ry actions. These include refinancing measures that, where appropriate, may lead to all customer &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; being considered impaired. Furthermore, given the granularity of the retail portfolios, the differential behavior of these clients in relation to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;their products and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;collateral&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; provided, as well as the time necessary to find the best solution, the Group has established as an indicator that when a transaction of a retail client has default in excess of 90 days and this represents more than 20% of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;client&amp;#39;s total balance, all its &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; are considered impaired, this without prejudice to the fact that lower limits have been established due to management practices in some geography.&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:0pt;' &gt;The objective of the impair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ment 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 whic&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;h 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:0pt;' &gt;The model developed by the Group for assessing the significant increase in credit risk has a two-prong approach that is applied globally (for more detail on the methodology used, see Note 7.2.1):&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14,2pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:32,2pt;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;color:#000000;' &gt;Quantitative criterion: the Group &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 probabi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lity for their residual life (see Note 7&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;.2.1&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:14,2pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:32,05pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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 and scoring systems or macroeconomic scenarios, so the quantitative analysis &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;covers the majority of circumstances. The Group uses additional qualitative criteria to identify significant increase in credit risk and thus, to include circumstances that are not reflected in the rating/score systems or macroeconomic scenarios used. Such&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; qualitative criteria are the following:&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:6pt;' &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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;such non-payment does not represent a significant increase in risk. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;As of December 31, 2020, the Group has not considered periods higher than 30 days.&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:6pt;' &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;color:#000000;' &gt;Watch list: They are subject to special watch by the Risk units because they show negative signs in their&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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:54pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &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;color:#000000;' &gt;Refinance or restructuring that does &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;not show evidence of impairment, or that, having been previously identified, the existence of significant increase in credit risk is still considered.&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, also known as 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;related to certain government institutions and bodies, the standard allows for considering that their credit risk has not increased significantly because they have a low credit risk at the presentation date.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; This possibility is limited to those financial instruments that are classified as having high credit quality and high liquidity to comply with the liquidity coverage ratio (&amp;#8220;LCR&amp;#8221;). This does not prevent these assets from being assigned the credit risk coverage that corresponds to their classification as Stage 1 based on their credit rating and macroeconomic 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;The&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;without&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &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:21,25pt;' &gt;Financial assets which are not &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;significant&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt; 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:21,25pt;' &gt;When the credit risk of a financial asset h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as 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 the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 recogn&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ized 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; debt is forgiven, or other reasons.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory>
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  <bbva:Retirementsduetocompaniesintheprocessofsale id="ID_7111" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_ForeclosuresMember" unitRef="EUR" decimals="INF">5000000</bbva:Retirementsduetocompaniesintheprocessofsale>
  <bbva:Retirementsduetocompaniesintheprocessofsale id="ID_7112" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_AssetsfrompropertyplanandequipmentMember" unitRef="EUR" decimals="INF">0</bbva:Retirementsduetocompaniesintheprocessofsale>
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  <bbva:Retirementsduetocompaniesintheprocessofsale id="ID_7114" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">5000000</bbva:Retirementsduetocompaniesintheprocessofsale>
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  <ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory id="ID_7415" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.6. &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 assets acquired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sets, 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 combination a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;chieved 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 derecognition of n&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on-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, the amount that&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 consolidated ba&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lance 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='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;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 held in the acquired business; and &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 fair value of the assets acquired and liabilities 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;If this difference is negative, it shall be recognized directly in the income statement under the heading &amp;#8220;Negative goodwill recognized in profit or loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; each business combination. BBVA Group has always elected for the second method.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory>
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  <ifrs-full:Assets id="ID_7419" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">30000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_7420" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2192000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_7421" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">11000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_7422" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">223000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_7423" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2454000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_7424" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">3000000</ifrs-full:Assets>
  <ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory id="ID_7425" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;2.7. &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;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory id="ID_7426" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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 from assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 more &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; tha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t 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 generated from &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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='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;Is the lowest level at which the entity manages goodwill internally.&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;Is not larger than an operating 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;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 determining the impairment of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;air value, is compared 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 discounted value of the cash flow &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 growth rate to extrapolate the cash flows indefinitely, and the discount rate used to dis&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;count 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.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 to that unit and, second, if there are s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;till &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 unit. In the event the non-controlling in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;terests 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.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; are recognized under the heading &amp;quot;Impairment or reversal of impairment on non-financial assets &amp;#8211; Intangible assets&amp;#8221; (see Note 49).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory id="ID_7427" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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 an indefinite useful life if, based on an analysis of all relevant factors, it&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 usefu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;l 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 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;color:#222222;' &gt;The consolidated entities recognize any impairment losses on the carr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#222222;' &gt;ying amount of these assets with charge to the heading &amp;#8220;Impairment or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#222222;' &gt;reversal of impairment on non-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#222222;' &gt;financial assets- Intangible assets&amp;#8221; in the accompanying consolidated income statements (see Note 49). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The criteria used to recognize the impairment losses &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:Liabilities id="ID_7428" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">27587000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7429" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">58045000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7430" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">856000000</ifrs-full:Liabilities>
  <ifrs-full:DescriptionOfAccountingPolicyForInsuranceContracts id="ID_7431" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.8. &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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-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 rein&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;surance assets&amp;#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 re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;insurer&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 accompanying consolidated balance sheets includes the technical provisions for dir&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ect 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 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 entities of the BBVA Group recognize the amounts of the premiums written and a c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;harge 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.&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 mos&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t 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:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;According to the type of product, the provisions may be as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;Life insurance provisions:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:18pt;' &gt;Re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;presents 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:36pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:53,85pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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 balance re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;flects 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.&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:36pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:53,85pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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 insuran&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ce 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;/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;Non-life insurance provisions:&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 provisions are intended for the accrual, at the date of calculation, of the premi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ums 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.&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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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.&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;Provis&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ion for claims:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:35,45pt;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 year-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 ye&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t reported, settled or paid, and the total amounts already paid 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:12pt;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;Provision for bonuses and 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:35,45pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17,85pt;text-align:justify;margin-top:12pt;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;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:35,45pt;color:#0D0D0D;' &gt;Calculated by applying th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#0D0D0D;' &gt;e 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 reinsurance contracts.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17,85pt;text-align:justify;margin-top:12pt;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;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:35,45pt;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 ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rket 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 controls and monitors the exposure of the insurance subsidiaries to financial risk and, to this end, uses internal methods and tools th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;at 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>
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  <ifrs-full:Liabilities id="ID_7448" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DebtCertificatesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">3038000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7449" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DebtCertificatesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1492000000</ifrs-full:Liabilities>
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  <ifrs-full:Liabilities id="ID_7451" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_OtherfinancialliabilitiesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">4617000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7452" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_OtherfinancialliabilitiesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Liabilities>
  <ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory id="ID_7453" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.9. &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 co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nsolidated 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. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-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 the corresponding tax rate as per the tax base for the year (after deducting the tax credits or discounts allowable for tax purposes) and t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he 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_7454" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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 and liabilities include temporary differences, defined as the amounts to be payable or recoverable in future years arising from the differ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ences between the carrying amount of assets and liabilities and their tax bases (the &amp;#8220;tax value&amp;#8221;), and tax loss and tax credit or discount carry forwards. These amounts are calculated by applying to each temporary difference the tax rates that are expected&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 accompanying consolidated balance sheets includes the amount of all the assets of a tax nature, broken down into: &amp;quot;Current&amp;#8221; (amounts of tax recov&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;erable in the next twelve months) and &amp;quot;Deferred&amp;quot; (which includes the amount of tax to be recovered in future years, including those arising from tax losses or credits for deductions or rebates that can be compensated). The &amp;quot;Tax Liabilities&amp;quot; line item in th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e accompanying consolidated balance sheets includes the amount of all the liabilities of a tax nature, except for provisions for taxes, broken down into: &amp;quot;Current&amp;#8221; (income tax payable on taxable profit for the year and other taxes payable in the next twelv&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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 attributable to taxable temporary differences associated with investments in subsidiaries, associates or joint venture entities are recognized as s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uch, 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 g&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;enerate enough taxable profits to make deferred tax assets effective and do not correspond to those from initial recognition (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 liabiliti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;es 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 analy&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ses 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 pr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;obable 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.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory id="ID_7455" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:Liabilities id="ID_7456" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">53000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7457" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2250000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7458" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">15000000</ifrs-full:Liabilities>
  <ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory id="ID_7459" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.10. &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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 certa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;in 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;each and every one of the following requirements is met:&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;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 tha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t it will not.&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;It is probable that an outflow of resources embodying economic benefits will be required to settle the obligation.&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 amount of the obligation can be reasonably estimated.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;employees by some of the Group entities mentioned in Note 2.2.11, 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;Contingent assets are possible assets that arise from past events and whose existence is conditional on, and will be confirmed only by, th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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 th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e Consolidated Financial Statements, provided that it is probable will give rise to an increase in resources embodying economic benefits.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Contingent liabilities are possible obligations of the Group that arise from past events and whose existence is condit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ional 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 require&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d to settle them; or when, in extremely rare cases, their amount cannot be measured with sufficient reliability. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Contingent liabilities are not recognized in the consolidated balance sheet or the income statement (excluding contingent liabilities from bus&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;iness&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;es&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; combination&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;) but are disclosed in the Notes to the Consolidated Financial Statements, unless the possibility of an outflow 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;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory>
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  <ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory id="ID_7472" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.11. &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;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;Below we provide&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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).&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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and settled during the year and for which a provision is not required in the entity&amp;#180;s accounts. These include wages and salaries, social security 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 &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 o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f 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 plans 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; Defi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ned-contribution plan expense&amp;#8221; of the consolidated income statement (see Note 44.1). &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#004580;' &gt;Post-employment benefits &amp;#8211; Defined-benefit plans&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Some Group entities maintain pension commitments with employees who have already retired or taken early retirement, certa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;in 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.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 ad&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dition, 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 employee&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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 under the heading &amp;#8220;Provisions &amp;#8211; Provisions for pensions and similar obligations&amp;#8221; in the consolidated balance sheet and determined a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 cos&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ts &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/charges relating to these commitments are charged and recognized in net terms under the headings &amp;#8220;Interest and other income&amp;#8221; or, w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;here appropriated, &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 early retirements granted during the year are recognized under the heading &amp;#8220;Provisions or reversals of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 entities provide long-term service awards to their employees, consisting of monetary amounts or periods o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f 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 amounts recorded under the heading &amp;#8220;Provisions &amp;#8211; Other long-term employee benefits&amp;#8221; of the consolidated ba&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lance 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 determined based on individual member data. Active employee costs are determined using the &amp;#8220;projected unit &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 actuarial assumptions we take into account that:&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;They should be unbiased, i.e. neither unduly optimisti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;c nor excessively conservative.&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;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 asse&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ts, 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.&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 interest rate used to discount benefit commitments is determined by reference to mar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ket yields, at the balance sheet date, on high quality 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;The BBVA G&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;roup recognizes actuarial gains (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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; relating to early retirement benefits, long service awards and other similar items under the heading &amp;#8220;Provisions or reversal of provisions&amp;#8221; of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the consolidated income statement for the period in which they arise&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; (see Note 46). Actuarial gains (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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; relating to pension and medical benefits are directly charged and recognized under the heading &amp;quot;Accumulated other comprehensive income &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(loss) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8211; Ite&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ms 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 (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 defined benefit pension plans&amp;quot; of equity in the consolidated balance sheet (see Note 30).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory>
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  <ifrs-full:Liabilities id="ID_7474" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">8629000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7475" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1382000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7476" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DepositsMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7477" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DepositsMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">944000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7478" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DepositsMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7479" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DebtCertificatesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7480" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DebtCertificatesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">3274000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7481" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DebtCertificatesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1382000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7482" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_OtherfinancialliabilitiesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7483" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_OtherfinancialliabilitiesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">4410000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7484" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_OtherfinancialliabilitiesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7485" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">30000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7486" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2192000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7487" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">11000000</ifrs-full:Liabilities>
  <ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory id="ID_7488" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.12. &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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he heading &amp;#8220;Shareholders&amp;#8217; funds &amp;#8211; Other equity instruments&amp;#8221; in the consolidated balance sheet. These services are measured at fair value for the employees services received, unless such fair value cannot be calculated reliably. In such case, they are measu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;red by reference to the fair value of the equity instruments granted, taking into account the date on which the commitments were granted and the terms and other conditions included in the commitments.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;When the initial compensation agreement includes what m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ay 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-ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rket 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 inc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ome statement with the corresponding increase in total consolidated equity.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7489" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_FinancialassetsheldfortradingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">68074636000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7490" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsheldfortradingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">23969936000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7491" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_EquityinstrumentsfinancialassetsheldfortradingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">11457612000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:Liabilities id="ID_7492" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">22932000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7493" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">56560000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7494" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">269000000</ifrs-full:Liabilities>
  <ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits id="ID_7495" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.13. &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 statements when the BBVA Group agrees to terminate employment contracts with its employees and has&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; established a detailed plan.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits>
  <ifrs-full:Liabilities id="ID_7496" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DepositsMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">7989000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7497" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DepositsMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">29945000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7498" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DepositsMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7499" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_ifrs-full_DerivativesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">3919000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7500" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_ifrs-full_DerivativesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">26615000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7501" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_ifrs-full_DerivativesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">267000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7502" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_OtherfinancialliabilitiesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">11024000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7503" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_OtherfinancialliabilitiesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7504" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_OtherfinancialliabilitiesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1000000</ifrs-full:Liabilities>
  <ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory id="ID_7505" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.14. &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 derivatives on the Bank&amp;#8217;s shares held by some consolidated entities that comply with the requireme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nts to be recognized as equity instruments - are recognized as a decrease to net equity, under the heading &amp;quot;Shareholders&amp;#8217; funds - Treasury stock&amp;quot; in the consolidated balance sheets (see Note 29).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;These financial assets are recognized at acquisition cost, a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nd the gains or losses arising on their disposal are credited or debited, as appropriate, to the heading &amp;#8220;Shareholders&amp;#8217; funds - Retained earnings&amp;#8221; in the consolidated balance sheets (see Note 28).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory>
  <ifrs-full:Liabilities id="ID_7506" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7507" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">3149000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7508" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">3844000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7509" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DepositsMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7510" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_DepositsMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">976000000</ifrs-full:Liabilities>
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  <ifrs-full:Liabilities id="ID_7517" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoffinancialinstrumentsliabilitiesAxis_bbva_OtherfinancialliabilitiesMember_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_FinancialliabilitiesdesignatedatfairvaluethrouhprofitorlossMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2515000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7518" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">223000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7519" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2454000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_7520" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsliabilitiesaxisaxisAxis_bbva_DerivativeshedgeaccountingMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">3000000</ifrs-full:Liabilities>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7521" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_FinancialassetsheldfortradingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">59581000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7522" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsheldfortradingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">25577000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7523" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_EquityinstrumentsfinancialassetsheldfortradingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">5254000000</ifrs-full:MaximumExposureToCreditRisk>
  <bbva:Descriptionofaccountingpolicyforrecognitionofrevenueandexpensesexplanatory id="ID_7524" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.1&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;6&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;/div&gt;</bbva:Descriptionofaccountingpolicyforrecognitionofrevenueandexpensesexplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory id="ID_7525" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;Interest income and expense and similar items:&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:35,45pt;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 of their period of accrual using the effective interest rate 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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;independently from the financial instruments&amp;#8217; portfolio which generates the income or expense:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35,45pt;text-align:justify;margin-top:6pt;margin-bottom:4pt;' &gt;&lt;span style='min-width:53,45pt;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;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;/div&gt;&lt;p style='display:flex;margin-left:35,45pt;text-align:justify;margin-top:6pt;margin-bottom:4pt;' &gt;&lt;span style='min-width:53,45pt;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;The in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;terest income accrued after the initial recognition will form part of the gross carrying amount of the debt instrument until it will be received.&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 origination &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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. These fees&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; are part of the effective interest rate for the loans and advances. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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 amount &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of the asset.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;Income from dividends received:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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:6pt;margin-bottom:4pt;' &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 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. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Those dividends 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;color:#0D0D0D;' &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 consolid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#0D0D0D;' &gt;ated 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 repr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#0D0D0D;' &gt;esents a partial 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#0D0D0D;' &gt;profits during the same period.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory id="ID_7526" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;Commissions, fees and similar items:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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: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;Those 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: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;Those arising from transactions or services that are provided over a period &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;of time, which are recognized over the life of these transactions or services.&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;Those 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;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForRecognisingDifferenceBetweenFairValueAtInitialRecognitionAndAmountDeterminedUsingValuationTechniqueExplanatory id="ID_7527" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;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;/p&gt;&lt;p style='text-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 accounti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ng purposes on an accrual basis.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;Deferred collections and payments:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForRecognisingDifferenceBetweenFairValueAtInitialRecognitionAndAmountDeterminedUsingValuationTechniqueExplanatory>
  <bbva:Descriptionofaccountingpolicyforfunctionalcurrencybalancesheetexplanatory id="ID_7528" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.15. &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 and transactions denominated in currencies other than the euro are deemed to be denominated in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&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='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;Conversion of the foreign currency to the entity&amp;#8217;s functional currency (currency of the main economic environment in which the entity o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;perates); and&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;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;/p&gt;&lt;/div&gt;</bbva:Descriptionofaccountingpolicyforfunctionalcurrencybalancesheetexplanatory>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7529" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocustomersfinancialassetsheldfortradingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">32647000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7530" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">5198000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7531" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancesnontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">709000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7532" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesnontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">356000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7533" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_EquityinstrumentsnontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">4133000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7534" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_FinancialassetsdesignatedatfairvaluethroughtprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">1117000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7535" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DerivativestradingsandhedgingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">46302000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7536" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">69537000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7537" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">68404000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7538" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_EquityinstrumentsfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">1100000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7539" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocreditiinstitutionsfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">33000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7540" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">379857000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7541" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocentralbanksfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">6229000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7542" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocreditinstitutionsfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">14591000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7543" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocustomersfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">323252000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7544" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">35785000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7545" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_TotalfinancialassetsriskMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">570084000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7546" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_TotalloancommitmentsandfinancialguaranteesMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">179440000000</ifrs-full:MaximumExposureToCreditRisk>
  <bbva:Descriptionofaccountingpolicyforfunctionalcurrencyincomestatementexplanatory id="ID_7547" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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 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 curren&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cies 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 functi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;onal currencies using the exchange rate at the close of the financial year. In addition,&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;Non-monetary items valued at their historical cost are converted to the functional currency at the exchange rate applicable on the purchase date.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;Non-monetary items va&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lued 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;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;Monetary items are converted to the functional currency at the closing exchange rate.&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;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;/p&gt;&lt;p style='text-align:justify;margin-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 produced when converting the balances in foreign currency to the functional currency of the cons&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;olidated entities are generally recognized under the heading &amp;quot;Exchange differences, net&amp;quot; in the consolidated income statements (see Note 41). However, the exchange differences in non-monetary items measured at fair value are recorded to equity under the he&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ading &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 (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 that will not be reclassified to profit 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;Fair value changes of equity instruments measured 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 &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: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 euro are converted to euros 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:#000000;' &gt;Assets and liabilities: at the closing spot exchange rates as o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;f the date of each of the consolidated balance sheets.&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;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;/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;Equity items: at the hi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;storical exchange rates. &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 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 comp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rehensive income (loss) &amp;#8211; Items that may be reclassified to profit or loss - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Foreign currency translation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8221; in the consolidated balance sheets (Notes 30 and 31 respectively). Meanwhile, the differences arising from the conversion to euros of the financial s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tatements of entities 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 (loss) - Items that may be reclassified to profit or loss - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of other recognized income and expense of investments in joint ventures and associates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;quot; (Note 30) until the item to which they relate 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; prices before their conversion to euros following the provisions of IAS 29 &amp;quot;Financial information in hyperinflationary economies&amp;quot; (see Note 2.2.19). Both these adjustments for inflation and the exchange differences that arise when converting the financial&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; statements of companies into hyperinflationary economies are accounted for in &amp;#8220;Accumulated other comprehensive income (loss) &amp;#8211; Items that may be reclassified to profit or loss - Foreign currency translation&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 breakdown of the main consolidated balance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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 Venezuela are expressed in Venezuelan Bolivar, and converted into euros for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 Directors considers that the use of these exchanges rates for converti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ng 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 &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 Decem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ber 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 estimated inflation in Venezuela. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of December 31, 2020, 2019 and 2018, 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 2.2.19)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Descriptionofaccountingpolicyforfunctionalcurrencyincomestatementexplanatory>
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  <ifrs-full:MaximumExposureToCreditRisk id="ID_7582" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_TotalloancommitmentsandfinancialguaranteesMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">12682000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7583" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_TotalloancommitmentsandfinancialguaranteesMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">1032000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7584" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">67995000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7585" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">410000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7586" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">0</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7587" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">749524000000</ifrs-full:MaximumExposureToCreditRisk>
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  <ifrs-full:MaximumExposureToCreditRisk id="ID_7590" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">5135000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7591" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancesnontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">1803000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7592" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesnontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">237000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7593" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_EquityinstrumentsnontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">3095000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7594" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_FinancialassetsdesignatedatfairvaluethroughtprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">1313000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7595" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DerivativestradingsandhedgingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">38249000000</ifrs-full:MaximumExposureToCreditRisk>
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  <ifrs-full:MaximumExposureToCreditRisk id="ID_7597" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">53737000000</ifrs-full:MaximumExposureToCreditRisk>
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  <ifrs-full:MaximumExposureToCreditRisk id="ID_7599" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocreditiinstitutionsfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">33000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7600" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">431927000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7601" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocentralbanksfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">3947000000</ifrs-full:MaximumExposureToCreditRisk>
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  <ifrs-full:MaximumExposureToCreditRisk id="ID_7646" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoancommitmentsgrantedmemberMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">6945000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7647" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoancommitmentsgrantedmemberMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">270000000</ifrs-full:MaximumExposureToCreditRisk>
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  <ifrs-full:MaximumExposureToCreditRisk id="ID_7649" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_FinancialguaranteesgrantedmemberMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">9804000000</ifrs-full:MaximumExposureToCreditRisk>
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  <ifrs-full:MaximumExposureToCreditRisk id="ID_7652" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_OthercommitmentsgrantedmemberMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">39209000000</ifrs-full:MaximumExposureToCreditRisk>
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  <ifrs-full:MaximumExposureToCreditRisk id="ID_7655" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_OthercommitmentsgrantedmemberMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">506000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7656" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_FinancialassetsheldfortradingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">69503000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7657" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsheldfortradingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">26309000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7658" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_EquityinstrumentsfinancialassetsheldfortradingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">8892000000</ifrs-full:MaximumExposureToCreditRisk>
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  <ifrs-full:MaximumExposureToCreditRisk id="ID_7661" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancesnontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">1120000000</ifrs-full:MaximumExposureToCreditRisk>
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  <ifrs-full:MaximumExposureToCreditRisk id="ID_7663" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_EquityinstrumentsnontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">4327000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7664" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_FinancialassetsdesignatedatfairvaluethroughtprofitorlossMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">1214000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7665" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DerivativestradingsandhedgingMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">39462000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7666" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">61293000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7667" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">58841000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7668" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_EquityinstrumentsfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">2420000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7669" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocreditiinstitutionsfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">33000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7670" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">451640000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7671" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocentralbanksfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">4285000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7672" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocreditinstitutionsfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">13664000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7673" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocustomersfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">394763000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7674" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">38930000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7675" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_TotalfinancialassetsriskMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">628670000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7676" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_TotalloancommitmentsandfinancialguaranteesMember_bbva_CreditexposureclassesofstageAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">181116000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7677" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_TotalloancommitmentsandfinancialguaranteesMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">169663000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7678" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_TotalloancommitmentsandfinancialguaranteesMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">10452000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7679" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_TotalloancommitmentsandfinancialguaranteesMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">1001000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory id="ID_7680" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.1&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;8&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;. The single lessee accounting model requires the lessee to record assets and liabilities for all &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 elected to apply both exceptions.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; A lessee is required to recognize a right-of-use asset representing its right to use the underlying leased asset, which is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; recorded under the headings &amp;#8216;&amp;#8216;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the consolidated balance 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;/p&gt;&lt;p style='text-align:justify;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 recog&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nition at amortized cost, 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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he 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 &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 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 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 depreciati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on charges are recognized in the accompanying consolidated income statements under the heading &amp;quot;Depreciation and Amortization&amp;quot; (see Note 45).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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 liabili&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ty 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;heading &amp;quot;Other operating expense&amp;#8221; (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;Operating 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 lea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ses 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.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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&amp;#8217;s purchase option on exp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;iration of the lease agreement) are recognized as financing provided to third parties and, therefore, are included under the heading &amp;#8220;Loans and advances&amp;#8221; in the accompanying consolidated balance 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 l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;essors 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 lease&amp;quot; in the consolidated balance sheets (see Note 17). The&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;se 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 &amp;#8220;Other operating &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 recognized in the consolidated income statement at the time of sal&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e (only for the effectively 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 use, and thus rental expense and income is elimin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ated in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;consolidation and the corresponding depreciation is recognized.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7681" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocreditiinstitutionsfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">33000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7682" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocreditiinstitutionsfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">0</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7683" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocreditiinstitutionsfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">0</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7684" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">402024000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7685" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">33624000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7686" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">15993000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7687" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocentralbanksfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">4285000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7688" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocentralbanksfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">0</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7689" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocentralbanksfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">0</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7690" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocreditinstitutionsfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">13500000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7691" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocreditinstitutionsfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">158000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7692" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocreditinstitutionsfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">6000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7693" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocustomersfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">345449000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7694" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocustomersfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">33360000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7695" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_LoansandadvancestocustomersfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">15954000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7696" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">38790000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7697" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">106000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7698" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatamortisedcostMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">33000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7699" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">58590000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7700" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">250000000</ifrs-full:MaximumExposureToCreditRisk>
  <ifrs-full:MaximumExposureToCreditRisk id="ID_7701" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditexposureclassesoffinancialinstrumentsAxis_bbva_DebtsecuritiesfinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_CreditexposureclassesofstageAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">0</ifrs-full:MaximumExposureToCreditRisk>
  <bbva:DescriptionOfAccountingPoliciesForEntitiesAndBranchesLocatedInCountriesWithHiperinflationaryEconomies id="ID_7702" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;2.2.19. 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 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. &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 20&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;,&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;2019 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and 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;, the increase in the reserves of Group entities located in Argentina derived from the re-expression for hyperinflation (IAS 29) amounts to &amp;#8364;343&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;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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;228&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;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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;Equity &amp;#8211; Accumulated other comprehensive income /(loss)&amp;#8221; and &amp;#8364;115&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;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;157&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;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; Accumulated other comprehensive income/(loss)&amp;#8221;. Furthermore, during 20&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;, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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; &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 decrease in the reserves of Group entities located in Argentina derived 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;482&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;#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&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;#8364;773 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;million, respectively, of which &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;320&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;#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; &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;Equity &amp;#8211; Accumulated other comprehensive income/(loss)&amp;#8221;, and &amp;#8364;162,&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;155&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;&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 interests &amp;#8211; Accumulated other comprehensive income/(loss)&amp;#8221;. The net impact of both effects is presented und&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;er 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, &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; 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 net loss in the profit attributable to the parent company of the Group in 2020&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; 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;font style='font-family:Arial;font-size:8pt;' &gt;derived from the application of IAS 29 amounted to &amp;#8364;148&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;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;190 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;209&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;. In addition, there is a net loss in the profit attributable to the parent company of the Group in 2020&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; 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;font style='font-family:Arial;font-size:8pt;' &gt;derived from the application of IAS 2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;1 which amounted to &amp;#8364;26&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;#8364;34&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 &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; &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, 2020 for the inflation of the financial statements of the Group companies located in Argentina 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='2' rowspan='1' style='width:480pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480pt;' &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:397,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:397,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;0&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:7pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7pt;' &gt;&lt;td style='width:397,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:397,5pt;' &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;387&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7pt;' &gt;&lt;td style='width:397,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:397,5pt;' &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;331&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7pt;' &gt;&lt;td style='width:397,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:397,5pt;' &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;36,5%&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: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 Group&amp;#8217;s entities located in Venezuela have therefore been &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 parent company&amp;#8221; in the accompanying consolidated income sta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tement as a result of the adjustment for inflation on net monetary position of the Group entities in Venezuela amounted to &amp;#8364;5, &amp;#8364;8 and &amp;#8364;12 million in 2020, 2019 and 2018, respectively (see Note 2.2.15).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:DescriptionOfAccountingPoliciesForEntitiesAndBranchesLocatedInCountriesWithHiperinflationaryEconomies>
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  <bbva:Accumulatedimpairment id="ID_7918" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">-20000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7919" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="EUR" decimals="INF">76000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7920" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="EUR" decimals="INF">-48000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7921" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">6000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7922" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">-16000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7923" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">14000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7924" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">-39000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7925" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">7477000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7926" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">-6123000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7927" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="EUR" decimals="INF">132000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7928" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="EUR" decimals="INF">-108000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7929" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="EUR" decimals="INF">47000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7930" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="EUR" decimals="INF">-59000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7931" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="EUR" decimals="INF">1486000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7932" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="EUR" decimals="INF">-1129000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7933" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="EUR" decimals="INF">591000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7934" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="EUR" decimals="INF">-509000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7935" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="EUR" decimals="INF">17000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7936" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="EUR" decimals="INF">-15000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7937" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="EUR" decimals="INF">1397000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7938" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="EUR" decimals="INF">-722000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7939" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="EUR" decimals="INF">1456000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7940" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="EUR" decimals="INF">-1223000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7941" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="EUR" decimals="INF">489000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7942" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="EUR" decimals="INF">-368000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7943" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="EUR" decimals="INF">358000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7944" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="EUR" decimals="INF">-294000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7945" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="EUR" decimals="INF">73000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7946" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="EUR" decimals="INF">-60000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7947" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="EUR" decimals="INF">123000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7948" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="EUR" decimals="INF">-132000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7949" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="EUR" decimals="INF">617000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7950" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="EUR" decimals="INF">-494000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7951" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="EUR" decimals="INF">177000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7952" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="EUR" decimals="INF">-124000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7953" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="EUR" decimals="INF">142000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7954" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="EUR" decimals="INF">-192000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7955" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="EUR" decimals="INF">5000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7956" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="EUR" decimals="INF">-4000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7957" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="EUR" decimals="INF">54000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7958" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="EUR" decimals="INF">-43000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7959" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="EUR" decimals="INF">67000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7960" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="EUR" decimals="INF">-59000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7961" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="EUR" decimals="INF">46000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7962" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="EUR" decimals="INF">-65000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7963" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="EUR" decimals="INF">198000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7964" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="EUR" decimals="INF">-523000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7965" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">7106000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7966" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">-5895000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7967" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">14678000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_7968" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-12141000000</bbva:Accumulatedimpairment>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7969" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="pure" decimals="INF">0</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7970" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="pure" decimals="INF">0.004</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7971" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="pure" decimals="INF">0</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7972" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7973" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="pure" decimals="INF">0.052</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7974" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="pure" decimals="INF">0.038</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7975" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="pure" decimals="INF">0.011</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7976" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="pure" decimals="INF">0.044</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7977" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="pure" decimals="INF">0.044</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7978" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="pure" decimals="INF">0.019</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7979" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="pure" decimals="INF">0.139</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7980" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="pure" decimals="INF">0.059</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7981" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="pure" decimals="INF">0.06</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7982" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="pure" decimals="INF">0.043</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7983" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="pure" decimals="INF">0.013</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7984" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="pure" decimals="INF">0.023</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7985" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="pure" decimals="INF">0.062</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7986" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="pure" decimals="INF">0.061</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7987" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="pure" decimals="INF">0.036</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7988" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="pure" decimals="INF">0.035</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7989" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="pure" decimals="INF">0.081</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7990" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="pure" decimals="INF">0.037</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7991" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="pure" decimals="INF">0.041</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7992" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="pure" decimals="INF">0.051</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7993" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="pure" decimals="INF">0.047</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7994" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="pure" decimals="INF">0.043</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_7996" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
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  <bbva:Accumulatedimpairment id="ID_8006" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">-31000000</bbva:Accumulatedimpairment>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8008" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">8467000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_8009" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">-6465000000</bbva:Accumulatedimpairment>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8011" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="EUR" decimals="INF">154000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_8012" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="EUR" decimals="INF">-124000000</bbva:Accumulatedimpairment>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8014" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="EUR" decimals="INF">100000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_8015" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="EUR" decimals="INF">-86000000</bbva:Accumulatedimpairment>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8017" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="EUR" decimals="INF">1711000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_8018" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="EUR" decimals="INF">-1242000000</bbva:Accumulatedimpairment>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8020" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="EUR" decimals="INF">684000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_8021" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="EUR" decimals="INF">-575000000</bbva:Accumulatedimpairment>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8023" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="EUR" decimals="INF">14000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_8024" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="EUR" decimals="INF">-16000000</bbva:Accumulatedimpairment>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8026" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="EUR" decimals="INF">1377000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_8027" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="EUR" decimals="INF">-876000000</bbva:Accumulatedimpairment>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8029" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="EUR" decimals="INF">1799000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_8030" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="EUR" decimals="INF">-1448000000</bbva:Accumulatedimpairment>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8032" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="EUR" decimals="INF">507000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
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  <bbva:Accumulatedimpairment id="ID_8036" 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_8042" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="EUR" decimals="INF">-140000000</bbva:Accumulatedimpairment>
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  <bbva:Accumulatedimpairment id="ID_8045" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="EUR" decimals="INF">-527000000</bbva:Accumulatedimpairment>
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  <bbva:Accumulatedimpairment id="ID_8051" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="EUR" decimals="INF">-134000000</bbva:Accumulatedimpairment>
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  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8073" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="pure" decimals="INF">0</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8074" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="pure" decimals="INF">0.003</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8075" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="pure" decimals="INF">0</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8076" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="pure" decimals="INF">0.002</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8077" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="pure" decimals="INF">0.049</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8078" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="pure" decimals="INF">0.041</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8079" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="pure" decimals="INF">0.021</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8080" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="pure" decimals="INF">0.043</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8081" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="pure" decimals="INF">0.056</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8082" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="pure" decimals="INF">0.016</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8083" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="pure" decimals="INF">0.126</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8084" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="pure" decimals="INF">0.066</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8085" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="pure" decimals="INF">0.053</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8086" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="pure" decimals="INF">0.032</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8087" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="pure" decimals="INF">0.015</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8088" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="pure" decimals="INF">0.028</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8089" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="pure" decimals="INF">0.04</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8090" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="pure" decimals="INF">0.038</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8091" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="pure" decimals="INF">0.034</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8092" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="pure" decimals="INF">0.017</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8093" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="pure" decimals="INF">0.045</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8094" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="pure" decimals="INF">0.014</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8095" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="pure" decimals="INF">0.034</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8096" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="pure" decimals="INF">0.043</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8097" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="pure" decimals="INF">0.041</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8098" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="pure" decimals="INF">0.039</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8099" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1460000000</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8100" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">9000000</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8101" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">143000000</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8102" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">484000000</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8103" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_DerivativesMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8104" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2096000000</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8105" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">11000000</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8106" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">11000000</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8107" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8108" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8109" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_DerivativesMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8110" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">23000000</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8111" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="pure" decimals="INF">0</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8112" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="pure" decimals="INF">0.004</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8113" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8114" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8115" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="pure" decimals="INF">0.049</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8116" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="pure" decimals="INF">0.033</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8117" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="pure" decimals="INF">0.019</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8118" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="pure" decimals="INF">0.046</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8119" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="pure" decimals="INF">0.042</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8120" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="pure" decimals="INF">0.018</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8121" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="pure" decimals="INF">0.125</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8122" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="pure" decimals="INF">0.063</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8123" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="pure" decimals="INF">0.047</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8124" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="pure" decimals="INF">0.04</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8125" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="pure" decimals="INF">0.021</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8126" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="pure" decimals="INF">0.021</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8127" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="pure" decimals="INF">0.048</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8128" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="pure" decimals="INF">0.04</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8129" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="pure" decimals="INF">0.04</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8130" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="pure" decimals="INF">0.016</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8131" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="pure" decimals="INF">0.034</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8132" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="pure" decimals="INF">0.014</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8133" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="pure" decimals="INF">0.045</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8134" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="pure" decimals="INF">0.039</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8135" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="pure" decimals="INF">0.044</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8136" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="pure" decimals="INF">0.041</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets id="ID_8137" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">203000000</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets id="ID_8138" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">4000000</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets id="ID_8139" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets id="ID_8140" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">135000000</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets id="ID_8141" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_DerivativesMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets id="ID_8142" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">342000000</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_8143" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">3947000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8144" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_8145" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">-6000000</bbva:Accumulatedimpairment>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_8146" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="EUR" decimals="INF">28198000000</bbva:Grossvaluefinancialassetsimpaired>
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  <bbva:Accumulatedimpairment id="ID_8148" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="EUR" decimals="INF">-84000000</bbva:Accumulatedimpairment>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8168" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="EUR" decimals="INF">585000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_8169" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="EUR" decimals="INF">-446000000</bbva:Accumulatedimpairment>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_8177" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="EUR" decimals="INF">1624000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
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  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets id="ID_8234" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">17000000</ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets id="ID_8235" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets>
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  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8240" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8241" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8242" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8243" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8244" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8245" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">6000000</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8246" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">6000000</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8247" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_DerivativesMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
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  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8249" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">79000000</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8250" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">6000000</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets id="ID_8251" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1119000000</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets id="ID_8252" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">23000000</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets id="ID_8253" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets>
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  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets id="ID_8255" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_DerivativesMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets id="ID_8256" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1145000000</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8257" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">502000000</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
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  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8259" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
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  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8261" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_DerivativesMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">26000000</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8262" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">739000000</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
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  <bbva:Transfersintolevel1offairvaluehierarchyassets id="ID_8264" 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>
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  <bbva:Transfersintolevel1offairvaluehierarchyassets id="ID_8266" 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_8267" 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>
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  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets id="ID_8270" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">44000000</ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets id="ID_8271" 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>
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  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets id="ID_8273" 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_8274" 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>
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  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8277" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
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  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8279" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets id="ID_8280" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets id="ID_8281" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">134000000</ifrs-full:TransfersOutOfLevel1IntoLevel2OfFairValueHierarchyAssets>
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  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities id="ID_8361" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities id="ID_8362" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesatfairvaluethroughprofitorlossclassifiedasheldfortradingmemberMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities>
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  <ifrs-full:TransfersIntoLevel3OfFairValueHierarchyLiabilities id="ID_8364" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesatfairvaluethroughprofitorlossclassifiedasheldfortradingmemberMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">56000000</ifrs-full:TransfersIntoLevel3OfFairValueHierarchyLiabilities>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities id="ID_8365" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_DerivatesMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities>
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  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities id="ID_8367" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities>
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  <bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities id="ID_8369" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">13000000</bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities>
  <bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities id="ID_8370" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesatfairvaluethroughprofitorlossclassifiedasheldfortradingmemberMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">27000000</bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities>
  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyLiabilities id="ID_8371" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyLiabilities>
  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyLiabilities id="ID_8372" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesatfairvaluethroughprofitorlossclassifiedasheldfortradingmemberMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyLiabilities>
  <bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities id="ID_8373" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_DerivatesMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities>
  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyLiabilities id="ID_8374" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_DerivatesMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyLiabilities>
  <bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities id="ID_8375" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">40000000</bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities>
  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyLiabilities id="ID_8376" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyLiabilities>
  <ifrs-full:ValueAtRisk id="ID_8377" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">29000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8378" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">12000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8379" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">4000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8380" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">11000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8381" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-28000000</ifrs-full:ValueAtRisk>
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  <ifrs-full:ValueAtRisk id="ID_8387" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-14000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8388" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">39000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8389" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">20000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8390" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">3000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8391" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">1000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8392" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">6000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8393" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-39000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8394" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">18000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8395" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">32000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8396" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">12000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8397" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">2000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8398" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">11000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8399" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-29000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8400" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">28000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8401" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">21000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8402" contextRef="AS_OF_Dec31_2019_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_8403" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">4000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8404" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">9000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8405" contextRef="AS_OF_Dec31_2019_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_8406" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">19000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8407" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">28000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8408" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">6000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8409" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">3000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8410" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">9000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8411" contextRef="AS_OF_Dec31_2019_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_8412" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">25000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8413" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">13000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_8414" 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_8415" 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_8416" 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_8417" 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_8418" 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_8419" 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_8420" 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_8421" 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_8422" 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_8423" 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_8424" 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_8425" 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_8426" 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>
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  <bbva:Disclosureshareholderremunerationsystemexplanatory id="ID_8449" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &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: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:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Throughout 2018, 2019 and 2020, BBVA&amp;#8217;s Board of Directors approved the payment of the following dividends (interim or final dividends) fully in cash, recorded in &amp;#8220;Total&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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: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 Annual General Meeting of BBVA held on March 16, 2018 approved, under item 1 of the Agenda, the payment of a final dividend for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 the Group&amp;#8217;s compani&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;es, amounted&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; &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: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 Board of Directors, at its meeting held on September 26, 2018, approved the payment in cash of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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 million and is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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: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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Annual General Meeting of BBVA &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;held on March 15, 2019, approved&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, under item 1 of the Agenda,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the payment &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;of a final dividend for 2018, in addition to other dividends previously paid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, in cash for an amount equal to &amp;#8364;0.16 (&amp;#8364;0.1296 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;net of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 Companie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;s, amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,064 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &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: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 Board of Directors, at its meeting held on October 2, 2019, approved the payment in cash of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.10 (&amp;#8364;0.081 net of withholding tax) 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;color:#000000;' &gt;665 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;million and is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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;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 Annual General Meeting of BBVA held on March 1&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&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;2020,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; approved, under item 1 of the Agenda, the payment of a final dividend for 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;, in addition to other dividends previously paid, in cash for an amount equal to &amp;#8364;0.16 (&amp;#8364;0.1296 net of withholding tax) per BBVA share. The total amount paid to shareholders on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;April 9, 2020, after deducting treasury shares held by the Group&amp;#8217;s Companies, amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,065 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &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, 2020.&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;In accordance with rec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ommendation ECB/2020/19 issued by the ECB on March 27, 2020 on dividend distributions during the COVID-19 pandemic, the Board of Directors of BBVA resolved to modify for the financial year corresponding to 2020 the dividend policy of the Group, announced o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;n February 1, 2017, determining as new policy for 2020 not to pay any dividend amount corresponding to 2020 until the uncertainties caused by COVID-19 disappear and, in any case, not before the end of such fiscal year. On July 27, 2020, the ECB prolonged t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;his recommendation until January 1, 2021 by adopting recommendation ECB/2020/35.&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;On December 15, 2020 the ECB issued recommendation ECB/2020/62, repealing recommendation ECB/2020/35 and recommending that significant credit institutions exercise extreme pru&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;dence when deciding on or paying out dividends or performing share buy-backs aimed at remunerating shareholders. Recommendation ECB/2020/62 circumscribes prudent distributions to results of 2019 and 2020 but excluding distributions regarding 2021 until Sep&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;tember 30, 2021, when the ECB will reevaluate the economic situation. BBVA intends to reinstate its dividend policy of the Group announced on February 1, 2017 once the recommendation ECB/2020/62 is repealed and there are no additional restrictions or limit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ations.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Proposal on allocation of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;earnings of BBVA, S.A. for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;2020&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The Board of Directors will submit for the approval of the Ordinary General Shareholders&amp;#8217; Meeting the proposal to apply the result of Banco Bilbao Vizcaya Argentaria, S.A. for the 2020 financial year amounting to &amp;#8364;2,182 million of losses to the prior years&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8217; losses account. Furthermore, the offsetting of the prior years&amp;#8217; losses will likewise be submitted for approval, the amount of which amounts to &amp;#8364;2,182 million, after the application of the 2020 financial year results in accordance with the previous paragr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;aph, against the voluntary reserves account under the &amp;quot;Retained earnings&amp;quot; heading.&lt;/font&gt;&lt;/p&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:9pt;margin-left:0pt;color:#004580;' &gt;Other shareholder 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;On January 29, 2021, it was announced that a cash distribution in the amount of &amp;#8364;0.059 gross per share as shareholder remuneration in relation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; to the Group&amp;#8217;s result in the 2020 financial year was expected to be submitted to the relevant governing bodies of BBVA for consideration (see Note 56).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureshareholderremunerationsystemexplanatory>
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  <bbva:Perectageimpactonnetinterestincome id="ID_8515" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_srt_EuropeMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">[1.5% , 3.5%]</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_8516" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_MX_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">[0.5% , 1.5%]</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_8517" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_TK_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">[-0.5% , 0.5%]</bbva:Perectageimpactonnetinterestincome>
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  <bbva:Perectageimpactonnetinterestincome id="ID_8519" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_bbva_BbvagroupMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">[3.5% , 5.5%]</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_8520" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_srt_EuropeMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">[-1.5% , -0.5%]</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_8521" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_MX_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">[-1.5% , -0.5%]</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_8522" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_TK_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">[-0.5% , 0.5%]</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_8523" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_bbva_RestMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">[-0.5% , 0.5%]</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_8524" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_bbva_BbvagroupMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">[-3.5% , -1.5%]</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonneteconomicvalue id="ID_8525" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_srt_EuropeMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">[3.5% , 5.5%]</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_8526" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_MX_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">[-1.5% , -0.5%]</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_8527" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_TK_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">[-0.5% , 0.5%]</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_8528" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_bbva_RestMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">[-0.5% , 0.5%]</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_8529" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_bbva_BbvagroupMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">[3.5% , 5.5%]</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_8530" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_srt_EuropeMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">[-3.5% , -1.5%]</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_8531" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_MX_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">[0.5% , 1.5%]</bbva:Perectageimpactonneteconomicvalue>
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  <bbva:Perectageimpactonneteconomicvalue id="ID_8534" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_bbva_BbvagroupMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">[-3.5% , -1.5%]</bbva:Perectageimpactonneteconomicvalue>
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  <bbva:Tier3financialinstruments id="ID_8536" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">-60000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8537" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_LoansandreceivablesMember" unitRef="EUR" decimals="INF">204000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8538" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_LoansandreceivablesMember" unitRef="EUR" decimals="INF">-29000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8539" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">15000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8540" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">-15000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8541" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">9000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8542" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-16000000</bbva:Tier3financialinstruments>
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  <bbva:Tier3financialinstruments id="ID_8547" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">239000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8548" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">-101000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8549" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
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  <bbva:Tier3financialinstruments id="ID_8554" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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_8555" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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_8556" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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>
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  <bbva:Gdpscenarioslineitems id="ID_8834" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">4,31%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8835" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">4,38%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8836" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">4,50%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8837" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1,16%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8838" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2,12%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8839" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">3,13%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8840" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1,00%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8841" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1,81%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8842" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2,62%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8843" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1,84%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8844" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1,92%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8845" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2,03%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8846" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1,83%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8847" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1,86%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8848" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">1,91%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8849" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1,88%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8850" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1,91%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8851" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">1,94%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8852" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">0,34%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8853" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2,92%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8854" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">5,43%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8855" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">0,32%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8856" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2,46%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8857" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">4,56%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8858" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">3,07%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8859" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">3,28%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8860" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">3,49%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8861" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">3,39%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8862" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">3,39%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8863" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">3,39%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8864" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">3,86%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8865" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">3,86%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8866" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">3,86%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8867" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">(7,41%)</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8868" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">(2,47%)</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8869" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2,40%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8870" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">(6,62%)</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8871" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">(2,57%)</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8872" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">0,85%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8873" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">2,08%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8874" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2,30%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8875" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2,51%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8876" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1,64%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8877" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1,78%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8878" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">1,88%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8879" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1,95%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8880" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2,10%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8881" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2,23%</bbva:Gdpscenarioslineitems>
  <bbva:Averageltscd id="ID_8882" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">95%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_8883" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">108%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_8884" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">106%</bbva:Averageltscd>
  <bbva:Gdpscenarioslineitems id="ID_8885" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1,93%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8886" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">3,29%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8887" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">4,58%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8888" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1,71%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8889" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2,73%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8890" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">3,74%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8891" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">3,61%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8892" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">3,61%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8893" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">3,61%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8894" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">3,59%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8895" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">3,59%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8896" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">3,59%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8897" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">3,59%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8898" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">3,59%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_8899" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CountryaxisAxis_country_CO_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">3,59%</bbva:Gdpscenarioslineitems>
  <bbva:Maximumcreditriskexposure id="ID_8900" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_MX_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">52211000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_8901" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_MX_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">46373000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_8902" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_MX_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">4071000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_8903" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_MX_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">1767000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_8904" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_TK_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">39633000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_8905" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_TK_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">30832000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_8906" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_TK_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">5806000000</bbva:Maximumcreditriskexposure>
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  <bbva:Loansandadvancesbylevels id="ID_9184" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_Transferstostage3Member_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-2659000000</bbva:Loansandadvancesbylevels>
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  <bbva:Loansandadvancesbylevels id="ID_9236" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_Transferstostage3Member_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-2698000000</bbva:Loansandadvancesbylevels>
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  <bbva:Averagelcr id="ID_9320" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LmutypeaxisAxis_bbva_OtherlumsMember" unitRef="pure" decimals="INF">1.03</bbva:Averagelcr>
  <bbva:Averagelcr id="ID_9321" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LmutypeaxisAxis_bbva_OtherlumsMember" unitRef="pure" decimals="INF">0.99</bbva:Averagelcr>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9322" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="INF">6153000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9323" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="INF">6831000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9324" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="INF">7019000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9325" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="INF">6237000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9326" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="INF">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9327" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="INF">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9328" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2btradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="INF">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9329" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2btradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="INF">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9330" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_OthernoneligibleliquidassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="INF">701000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9331" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_OthernoneligibleliquidassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="INF">745000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9332" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_NontradableassetseligibleforcentralbanksMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="INF">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9333" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_NontradableassetseligibleforcentralbanksMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="INF">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9334" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_TotalMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="INF">13873000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9335" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_TotalMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="INF">13814000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9336" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvaeurozonememebrMember" unitRef="EUR" decimals="INF">39330000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9337" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_MexicomemberMember" unitRef="EUR" decimals="INF">8930000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9338" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvaeurozonememebrMember" unitRef="EUR" decimals="INF">48858000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9339" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_MexicomemberMember" unitRef="EUR" decimals="INF">9205000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9340" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvaeurozonememebrMember" unitRef="EUR" decimals="INF">5119000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9341" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_MexicomemberMember" unitRef="EUR" decimals="INF">106000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9342" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2btradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvaeurozonememebrMember" unitRef="EUR" decimals="INF">6080000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9343" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2btradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_MexicomemberMember" unitRef="EUR" decimals="INF">11000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9344" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_OthernoneligibleliquidassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvaeurozonememebrMember" unitRef="EUR" decimals="INF">20174000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9345" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_OthernoneligibleliquidassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_MexicomemberMember" unitRef="EUR" decimals="INF">421000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9346" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_NontradableassetseligibleforcentralbanksMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvaeurozonememebrMember" unitRef="EUR" decimals="INF">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9347" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_NontradableassetseligibleforcentralbanksMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_MexicomemberMember" unitRef="EUR" decimals="INF">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9348" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_TotalMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvaeurozonememebrMember" unitRef="EUR" decimals="INF">119560000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9349" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_TotalMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_MexicomemberMember" unitRef="EUR" decimals="INF">18672000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9350" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember">Present-value method
(Discounted future cash flows)</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9351" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember">Present-value method
(Discounted future cash flows)
Observed prices in non active markets</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9352" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember">Comparable pricing (Observable price in a similar market)
Net asset value</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9353" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember">Interest rate products (Interest rate Swaps, Call money Swaps and FRA): Discounted cash flows
Caps/Floors: Black, Hull-White and SABR
Bond options: Black
Swaptions: Black, Hull-White and LGM
Other Interest rate Options: Black, Hull-White and LGM
Constant Maturity Swaps: SABR</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9354" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember">Future and Equity Forward: Discounted future cash flows
Equity Options: Local Volatility, Momentum adjustment</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9355" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember">Future and Equity Forward: Discounted future cash flows
Foreign exchange Options: Local volatility, moments adjustment</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9356" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember">Credit Derivatives: Default model and Gaussian copula</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9357" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CommoditieshedgememberMember">Commodities: Momentum adjustment and discounted cash flows</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9358" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvaeurozonememebrMember" unitRef="EUR" decimals="INF">26506000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9359" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_MexicomemberMember" unitRef="EUR" decimals="INF">7666000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9360" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvausaMember" unitRef="EUR" decimals="INF">1667000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9361" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="INF">7633000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9362" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="INF">6677000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9363" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvaeurozonememebrMember" unitRef="EUR" decimals="INF">29938000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9364" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_MexicomemberMember" unitRef="EUR" decimals="INF">4995000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9365" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvausaMember" unitRef="EUR" decimals="INF">10490000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9366" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="INF">6502000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9367" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="INF">3652000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9368" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvaeurozonememebrMember" unitRef="EUR" decimals="INF">449000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9369" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_MexicomemberMember" unitRef="EUR" decimals="INF">409000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9370" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvausaMember" unitRef="EUR" decimals="INF">510000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9371" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="INF">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_9372" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="INF">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
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  <bbva:Mainobservableinputs id="ID_9429" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember">- Issuer&#180;s credit risk
- Current market interest rates
- Non active markets prices</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9430" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember">- Brokers quotes
- Market operations
- NAVs published</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9431" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember">- 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_9432" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember">- Prepayment rates
- Issuer&#180;s credit risk
- Recovery rates
- Funding interest rates not observed in the market or in consensus services</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9433" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember">- Prepayment rates
- Issuer&#180;s credit risk
- Recovery rates</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9434" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember">- NAV not published</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9435" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember">- Beta
- Implicit correlations between tenors
- interest rates volatility</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9436" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember">- Volatility of volatility
- Implicit assets correlations
- Long term implicit correlations
- Implicit dividends and long term repos</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9437" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember">- Volatility of volatility
- Implicit assets correlations
- Long term implicit correlations</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9438" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember">- Correlation default
- Credit spread
- Recovery rates
- Interest rate yield
- Default volatility</bbva:Mainunobservableinputs>
  <bbva:Averageltscd id="ID_9439" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_BbvaeurozoneMember">173%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_9440" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_BbvaeurozoneMember">147%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_9441" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_BbvaeurozoneMember">145%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_9442" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_GarantibankmemberMember">183%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_9443" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_GarantibankmemberMember">206%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_9444" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_GarantibankmemberMember">209%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_9445" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_BbvausaMember">144%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_9446" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_BbvausaMember">145%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_9447" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_BbvausaMember">143%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_9448" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_MexicomemberMember">196%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_9449" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_MexicomemberMember">147%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_9450" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_MexicomemberMember">154%</bbva:Averageltscd>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9451" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember">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>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9452" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember">Present-value method
(Discounted future cash flows)</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9453" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember">Comparable pricing (Observable price in a similar market)
Net asset value</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9454" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember">- Issuer credit risk
- Current market interest rates</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9455" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember">- Brokers quotes
- Market operations
- NAVs published</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9456" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember">- Prepayment rates
- Business plan of the underlying asset, WACC, macro scenario
- Property valuation</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9457" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember">- Prepayment rates
- Issuer credit risk
- Recovery rates</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9458" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember">- NAV provided by the administrator of the fund</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9459" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember">Present-value method
(Discounted future cash flows)</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9460" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember">- Issuer credit risk
- Current market interest rates</bbva:Mainobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9461" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember">Present-value method
(Discounted future cash flows)
Observed prices in non active markets</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9462" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember">Comparable pricing (Observable price in a similar market)
Net asset value</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9463" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember">- Issuer&#180;s credit risk
- Current market interest rates
- Non active market prices</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9464" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember">- Brokers quotes
- Market operations
- NAVs published</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9465" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember">- Prepayment rates
- Issuer credit risk
- Recovery rates</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9466" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember">- NAV provided by the administrator of the fund</bbva:Mainunobservableinputs>
  <bbva:Mexicanpesoforeigncurrency id="ID_9467" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">4900000</bbva:Mexicanpesoforeigncurrency>
  <bbva:Mexicanpesoforeigncurrency id="ID_9468" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">12700000</bbva:Mexicanpesoforeigncurrency>
  <bbva:Mexicanpesoforeigncurrency id="ID_9469" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">13000000</bbva:Mexicanpesoforeigncurrency>
  <bbva:Turkishliraforeigncurrency id="ID_9470" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">4500000</bbva:Turkishliraforeigncurrency>
  <bbva:Turkishliraforeigncurrency id="ID_9471" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">3100000</bbva:Turkishliraforeigncurrency>
  <bbva:Turkishliraforeigncurrency id="ID_9472" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">3000000</bbva:Turkishliraforeigncurrency>
  <bbva:Peruviansolforeigncurrency id="ID_9473" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">400000</bbva:Peruviansolforeigncurrency>
  <bbva:Peruviansolforeigncurrency id="ID_9474" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">1900000</bbva:Peruviansolforeigncurrency>
  <bbva:Peruviansolforeigncurrency id="ID_9475" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">1300000</bbva:Peruviansolforeigncurrency>
  <bbva:Chilenialpesoforeigncurrency id="ID_9476" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">300000</bbva:Chilenialpesoforeigncurrency>
  <bbva:Chilenialpesoforeigncurrency id="ID_9477" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">500000</bbva:Chilenialpesoforeigncurrency>
  <bbva:Chilenialpesoforeigncurrency id="ID_9478" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">700000</bbva:Chilenialpesoforeigncurrency>
  <bbva:Colombialpesoforeigncurrency id="ID_9479" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">1400000</bbva:Colombialpesoforeigncurrency>
  <bbva:Colombialpesoforeigncurrency id="ID_9480" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">2600000</bbva:Colombialpesoforeigncurrency>
  <bbva:Colombialpesoforeigncurrency id="ID_9481" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">1900000</bbva:Colombialpesoforeigncurrency>
  <bbva:Argentinianpesoforeigncurrency id="ID_9482" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">900000</bbva:Argentinianpesoforeigncurrency>
  <bbva:Argentinianpesoforeigncurrency id="ID_9483" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">1300000</bbva:Argentinianpesoforeigncurrency>
  <bbva:Argentinianpesoforeigncurrency id="ID_9484" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">-300000</bbva:Argentinianpesoforeigncurrency>
  <bbva:Usdollarforeigncurrency id="ID_9485" contextRef="AS_OF_Dec31_2020_Entity_0000842180" unitRef="EUR" decimals="INF">4300000</bbva:Usdollarforeigncurrency>
  <bbva:Usdollarforeigncurrency id="ID_9486" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">5900000</bbva:Usdollarforeigncurrency>
  <bbva:Usdollarforeigncurrency id="ID_9487" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">7300000</bbva:Usdollarforeigncurrency>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9488" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember">Interest rate products (Interest rate Swaps, Call money Swaps and FRA): Discounted cash flows
Caps/Floors: Black, Hull-White and SABR
Bond options: Black
Swaptions: Black, Hull-White and LGM
Other Interest rate Options: Black, Hull-White and LGM
Constant maturity Swaps: SABR</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9489" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember">Future and Equity Forward: Discounted future cash flows
Equity Options: Local volatility, Momentum adjustment</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9490" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember">Future and Equity Forward: Discounted future cash flows
Foreign exchange Options: Local volatility, moments adjustment</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9491" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember">Credit Derivatives: Default model and Gaussian copula</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9492" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CommoditieshedgememberMember">Commodities: Momentum adjustment and Discounted cash flows</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9493" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember">- 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:Financialassetsforliquidity id="ID_9494" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TableOfFinancialInstrumentAxis_bbva_CashandbalanceswithcentralbanksandotherdemanddepositsMember_ifrs-full_MaturityAxis_ifrs-full_OnDemandMember" unitRef="EUR" decimals="INF">42518000000</bbva:Financialassetsforliquidity>
  <bbva:Financialassetsforliquidity id="ID_9495" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TableOfFinancialInstrumentAxis_bbva_CashandbalanceswithcentralbanksandotherdemanddepositsMember_ifrs-full_MaturityAxis_ifrs-full_NotLaterThanOneMonthMember" unitRef="EUR" decimals="INF">32741000000</bbva:Financialassetsforliquidity>
  <bbva:Financialassetsforliquidity id="ID_9496" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TableOfFinancialInstrumentAxis_bbva_CashandbalanceswithcentralbanksandotherdemanddepositsMember_ifrs-full_MaturityAxis_ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember" unitRef="EUR" decimals="INF">0</bbva:Financialassetsforliquidity>
  <bbva:Financialassetsforliquidity id="ID_9497" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TableOfFinancialInstrumentAxis_bbva_CashandbalanceswithcentralbanksandotherdemanddepositsMember_ifrs-full_MaturityAxis_ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" unitRef="EUR" decimals="INF">0</bbva:Financialassetsforliquidity>
  <bbva:Financialassetsforliquidity id="ID_9498" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TableOfFinancialInstrumentAxis_bbva_CashandbalanceswithcentralbanksandotherdemanddepositsMember_ifrs-full_MaturityAxis_bbva_LaterthansixmonthsandnotlaterthanninemonthsmemberMember" unitRef="EUR" decimals="INF">0</bbva:Financialassetsforliquidity>
  <bbva:Financialassetsforliquidity id="ID_9499" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TableOfFinancialInstrumentAxis_bbva_CashandbalanceswithcentralbanksandotherdemanddepositsMember_ifrs-full_MaturityAxis_bbva_LaterthanninemonthsandnotlaterthanoneyearmemberMember" unitRef="EUR" decimals="INF">0</bbva:Financialassetsforliquidity>
  <bbva:Financialassetsforliquidity id="ID_9500" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TableOfFinancialInstrumentAxis_bbva_CashandbalanceswithcentralbanksandotherdemanddepositsMember_ifrs-full_MaturityAxis_ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" unitRef="EUR" decimals="INF">0</bbva:Financialassetsforliquidity>
  <bbva:Financialassetsforliquidity id="ID_9501" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_TableOfFinancialInstrumentAxis_bbva_CashandbalanceswithcentralbanksandotherdemanddepositsMember_ifrs-full_MaturityAxis_ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" unitRef="EUR" decimals="INF">0</bbva:Financialassetsforliquidity>
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  <bbva:Valuationtecnniques id="ID_9980" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_DepositsMember">Present-value method
(Discounted future cash flows)</bbva:Valuationtecnniques>
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Caps/Floors: Black, Hull-White and SABR
Bond options: Black
Swaptions: Black, Hull-White and LGM
Other Interest rate Options: Black, Hull-White and LGM
Constant Maturity Swaps: SABR</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9982" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember">Future and Equity forward: Discounted future cash flows
Equity Options: Local volatility, momentum adjustment</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9983" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember">Future and Equity Forward: Discounted future cash flows
Foreign exchange Options: Local volatility, moments adjustment</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9984" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember">Credit Derivatives: Default model and Gaussian copula</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9985" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CommoditieshedgememberMember">Commodities: Momentum adjustment and discounted cash flows</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9986" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ShortpositionsMember">Present-value method
(Discounted future cash flows)</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9987" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember">Present-value method
(Discounted future cash flows)</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9988" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember">Interest rate products (Interest rate Swaps, Call money Swaps and FRA): Discounted cash flows
Caps/Floors: Black, Hull-White and SABR
Bond options: Black
Swaptions: Black, Hull-White and LGM
Other Interest rate Options: Black, Hull-White and LGM
Constant Maturity Swaps: SABR</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9989" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember">Future and Equity Forward: Discounted future cash flows
Equity Options: Local volatility, momentum adjustment</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9990" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember">Future and Equity Forward: Discounted future cash flows
Foreign exchange Options: Local Volatility, moments adjustment</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9991" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember">Credit Derivatives: Default model and Gaussian copula</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9992" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CommoditieshedgememberMember">Commodities: Momentum adjustment and discounted cash flows</bbva:Valuationtecnniques>
  <bbva:Mainobservableinputs id="ID_9993" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_DepositsMember">- Interest rate yield
- Funding interest rates observed in the market or in consensus services
- Exchange rates</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9994" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_ifrs-full_DerivativesMember">- 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_9995" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember">- Prepayment rates
- Issuer&#180;s credit risk
- Current market interest rates</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9996" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember">- 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_9997" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_DepositsMember">- Funding interest rates not observed in the market or in consensus services</bbva:Mainunobservableinputs>
  <ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory id="ID_9998" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;9. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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='5' rowspan='1' style='width:471pt;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;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: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:8pt;font-weight:bold;color:#44546A;' &gt;&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;font-weight:bold;color:#072146;' &gt;Notes&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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;Cash on hand&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;6.447&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;7.060&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;6.346&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &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:8pt;color:#000000;' &gt;Cash balances at central banks (*)&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;53.079&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;31.755&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;43.880&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;Other demand deposits&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;5.994&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;5.488&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;7.970&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:261pt;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;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;8.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;65.520&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;44.303&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;58.196&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:justify;margin-top:3pt;margin-bottom:12pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)   The variation in 2020 is mainly due to an increase in balances of BBVA, S.A. at the Bank of Spain.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory>
  <bbva:Mainunobservableinputs id="ID_9999" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember">- Beta
- Correlation between tenors
- Interest rates volatility</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10000" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember">- Volatility of volatility
- Assets correlation</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10001" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember">- Volatility of volatility
- Assets correlation</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10002" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember">- Correlation default
- Credit spread
- Recovery rates
- Interest rate yield
- Default volatility</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10003" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ShortpositionsMember">- Prepayment rates
- Issuer&#180;s credit risk
- Current market interest rates</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10004" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember">- Prepayment rates
- Issuer&#180;s credit risk
- Current market interest rates</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10005" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember">- Beta
- Implicit correlations between tenors
- interest rates volatility</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10006" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember">- Volatility of volatility
- Implicit assets correlations
- Long term implicit correlations
- Implicit dividends and long term repos</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10007" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember">- Volatility of volatility
- Implicit assets correlations
- Long term implicit correlations</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10008" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember">- Correlation default
- Credit spread
- Recovery rates
- Interest rate yield
- Default volatility</bbva:Mainunobservableinputs>
  <ifrs-full:Liabilities id="ID_10009" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">58045000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10010" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">856000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10011" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_DepositsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">23495000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10012" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_DepositsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">621000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10013" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_ifrs-full_DerivativesMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">34046000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10014" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_ifrs-full_DerivativesMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">232000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10015" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ShortpositionsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">504000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10016" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ShortpositionsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">3000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10017" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">8558000000</ifrs-full:Liabilities>
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  <ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory id="ID_10102" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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;1. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Introduction, basis for the presentation of the Consolidated Financial Statements, Internal Control over Financial Reporting and other information&lt;/font&gt;&lt;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: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. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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;, &amp;#8220;BBVA&amp;quot; or &amp;#8220;BBVA, S.A.&amp;#8221;) is a private-law entity subject to the laws and regulations governing banking entities operating in Spain. It carries out its activity through branches&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and agencies 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 carri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;es 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 &amp;#8220;Group&amp;#8221; or the &amp;#8220;BBVA Gro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;up&amp;#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.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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, 2020, the BBVA Group had 269 consolidated entities and 4&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;8 entities accounted 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 Consolidated Financial Statements of the BBVA Group for the year ended December 31, 2020 have been authorized for issue on February 26, 2021.&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;1.2. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Basis for the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;presentation 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;p style='text-align:justify;margin-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&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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;well as in accordance with the International Financial Reporting Standards endorsed by the European Union (&amp;#8220;EU-IFRS&amp;#8221;) applicable as of December 31, 2020, considering the Bank of Spain Circular 4/2017, and with any other legislation governing financial repo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rting which is applicable and with the format and mark-up requirements established in the EU Delegated Regulation 2019/815 of the European &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Commission.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-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, 20&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; were&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; prepared by the Group&amp;#8217;s Directors (through the Board of Directors m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eeting held on February &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;, 2021&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;) 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;consolidated equity and financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;position as of December 31, 2020&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, together with the consolidated results of its operations and cash flows generated during&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the year ended December 31, 2020&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;These Consolidated Financial Statements were prepared on the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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)&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 effective accounting standards and valuation criteria with a significant effect in the 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 m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;illions 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 accounti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ng 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.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-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 tho&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;usands of euros&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;1.3. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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;' &gt;The information included in the accompanying consolidated financial statements for the years ended December 31, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;9 and December 31, 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;, is presented in accordance with the applicable regulation, for the pur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;pose of comparison with the information for the year ended December 31, &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;.&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;color:#004580;' &gt;Agreement for the sale of BBVA&amp;#8217;s U.S. subsidiary to PNC Financial Service 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 mentioned in Note 3, in 2020 BBVA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; reached an agreement to sell its entire stake in BBVA USA Bancshares, Inc., parent company of the Group companies engaged in the banking business in the United States. As required by IFRS 5 &amp;quot;Non-current assets held for sale and discontinued operations&amp;quot;, t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he balances of assets and liabilities corresponding to said companies for sale have been reclassified from their corresponding accounting headings to the headings &amp;quot;Non-current assets and disposal groups classified as held for sale&amp;#8221; and &amp;#8220;Liabilities include&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d in disposal groups classified as held for sale&amp;#8221; respectively, from the consolidated balance sheet as of December 31, 2020. Similarly, as required by the aforementioned IFRS 5, the results generated by these companies during the financial year 2020 are pr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;esented in the heading &amp;#8220;Profit (loss) after taxes from discontinued operations&amp;#8221; of the consolidated income statement for such year, and in the heading &amp;quot;Non-current assets and disposal groups classified as held for sale&amp;quot; in the consolidated statements of re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cognized income and expense for such year. Additionally, the results corresponding to the years 2019 and 2018 have been reclassified, to facilitate the comparison between years, to that same section of the respective consolidated income statements and cons&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;olidated statements of recognized income and expense for both years. Finally, in the consolidated statements of cash flows, the balances corresponding to cash and cash equivalents have been reclassified to the heading &amp;quot;Total cash and cash equivalents class&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ified as non-current assets and disposal groups classified as held for sale&amp;quot; as of and for the year ended December 31, 2020.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 21 includes the condensed consolidated balance sheets, the condensed consolidated income statements and the condensed consolid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ated cash flow statements of the companies for sale in the United States as of and for the years 2020, 2019 and 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;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;Considering the interpretation issued by the International Financial Reporting Interpretations Committee &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(IFRIC) in its &amp;#8220;IFRIC Update&amp;#8221; of March 2020 on IAS 29 &amp;#8220;Financial information in hyperinflationary economies&amp;#8221;, the Group made an accounting policy change which involves recording the differences generated when translating the restated financial statements o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f the subsidiaries in hyperinflationary economies into euros in the line item &amp;#8220;Accumulated other comprehensive income (loss) &amp;#8211; Items that may be reclassified to profit or loss &amp;#8211; Foreign currency translation&amp;#8221; of our consolidated balance sheet net 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; order to make the information as of December 31, 2019 and 2018 comparable with information as of December 31, 2020, such information has been restated by reclassifying &amp;#8364;2,985 million and &amp;#8364;2,987 million, respectively, from &amp;#8220;Shareholders&amp;#8217; funds &amp;#8211; Retained e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;arnings&amp;#8221; and &amp;#8364;6 million and &amp;#8364;20 million, respectively, from &amp;#8220;Shareholders&amp;#8217; funds &amp;#8211; Other reserves&amp;#8221; to the headings &amp;#8220;Accumulated other comprehensive income (loss) &amp;#8211; Items that may be re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;classified to profit or loss &amp;#8211;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Foreign currency translation &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;#8220;Accumul&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ated other comprehensive income (loss) &amp;#8211; Items that may be reclassified to profit or loss &amp;#8211; Share of other recognized income and expense of investments in joint ventures and associates&amp;#8221; as of December 31, 2019 and 2018, 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 reclassifications &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;corresponding to January 1, 2020 and 2019 are included as &amp;quot;Effect of changes in accounting policies&amp;quot; in the Consolidated Total Statements of Changes in Equity corresponding to the years ended December 31, 2019 and 2018, 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;color:#004580;' &gt;IFRS 9&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;- collection of interest on impaired financial assets&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;As a consequence of the application of the interpretation issued by the IFRIC in its &amp;#8220;IFRIC Update&amp;#8221; of March 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; regarding the collection of interest on impaired financial assets under IFRS 9, such collections are presented since 2020 as reductions in credit-related write-offs whereas previously they were included as interest income. In order to make the information&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; comparable, the consolidated income statement information for the years ended December 31, 2019 and 2018 has been restated by recognizing a &amp;#8364;78 and &amp;#8364;80 million reduction in the heading &amp;#8220;Interest and other income&amp;#8221;, respectively against the heading &amp;#8220;Impairm&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ent or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification&amp;#8221;. This reclassification has had no net impact on the profit for the years ended December 31, 2019 and 2018, respectively, nor o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;consolidated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;net equity as of December 31, 2019 and 2018, 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;color:#004580;' &gt;Trading derivatives recognition&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Information as of and for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the year ended &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;December 31, 2020 has been subject to certain non-significant presentation modifications, in the balance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sheet related to the derivative activity. In order to make the information as of and for the years ended December 31, 2019 and 2018 comparable with the information as of and for the year ended December 31, 2020, figures as of and for the years ended Decemb&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;er 31, 2019 and 2018 have been restated by recognizing a &amp;#8364;953 million and &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;&amp;#8364;1,013 million reduction in the Total Assets and Total Liabilities, respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.4. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 seasonal 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. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Management and imp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;acts of the COVID-19 pandemic&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The appearance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the Coronavirus COVID-19 in China and its global expansion to a large number of countries, motivated the viral outbreak to be classified as a global pandemic by the World Health Organization since last March 11, 2020. The pandemic has affected and cont&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;inues to adversely affect the world economy and economic activity and conditions in the countries in which the Group operates, leading many of them to economic recession. The governments of the different countries in which the Group operates have adopted d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ifferent measures that have conditioned the evolution of the year (see Note 7.2).&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;In this pandemic situation, BBVA has focused its attention on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;enabling&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the continuity of the business operational security as a priority and monitoring the impacts on the bus&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;iness and on the risks of the Group (such as the impacts on results, capital or liquidity). Additionally, BBVA adopted from the beginning a series of measures to support its main interest groups. In this sense, the purpose and the Group&amp;#39;s long-term strateg&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ic priorities remain the same and are even reinforced, with a commitment to technology and data-driven decision-making.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 the aim of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mitigating the impact of COVID-19, various European and International bodies have made pronouncements to be taken into a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ccount in the implementation of the accounting and prudential frameworks. The BBVA Group has taken these pronouncements into consideration when preparing these consolidated financial&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; statements (see Note 7.2.1).&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 main impacts of COVID-19 pandemic in the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; BBVA Group&amp;#39;s consolidated Financial Statements are detailed in the following Notes:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14,2pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:32,2pt;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;color:#000000;' &gt;Note 1.6 includes information on the consideration of the COVID-19 pandemic in the estimates made.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14,2pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:28,35pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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;Note 4 mentions the amendment of the Group&amp;#8217;s shareholder remuneration po&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;licy, in accordance with the recommendation issued by the European Central Bank, which no longer pays any amount as a dividend for the financial year 2020 until as long as the uncertainties generated by the pandemic remain.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14,2pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:28,35pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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;Note 7.1 details the main risks &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;associated with the pandemic as well as the impacts that have occurred both in the operations and in the consolidated financial statements for the year ended December 31, 2020. Information on the impact of COVID-19 is included in the macroeconomic forecast&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;s and in the calculation of expected losses.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14,2pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:28,35pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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;Note 7.2 includes information related to the initiatives carried out by the Group to help the most affected clients, jointly with the corresponding governments. Likewise, it contains, among others, information &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;regarding the level of activity and the amount corresponding to moratorium measures, both public and private, granted by the Group worldwide.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14,2pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:28,35pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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;Note 7.5 presents information regarding the impact on liquidity and financing risk.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14,2pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:28,35pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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;Note 18.1 includes information&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; concerning the impairment of the goodwill in the United States carried out &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;during&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;the first quarter of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2020, mainly due to the impact of COVID-19 in updating the macroeconomic scenario and the expected evolution of interest rates.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14,2pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:28,35pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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;Note 32 includes informa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;tion with regard to the impact on the Group&amp;#39;s capital.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14,2pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:28,35pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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;Note 47 includes information on the impact of the update of the macroeconomic scenario affected by the COVID-19 pandemic&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: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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 be made at times when preparing these Consolidated Financial Statements in order to calculate the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;recorded or disclosed amount of some assets, liabilities, inc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ome, 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 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 quanti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;fy certain provisions (see Notes 23 and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 impairment 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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, 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;p style='text-align:justify;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 before, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on March 11, 2020, COVID-19 was declared as a global pandemic by the World Health Organization (see Note 1.5). The great uncertainty associated to the unprecedented nature of this pandemic entails a greater complexity of developing reliable estimations and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; applying judgment. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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, these estimates were made on the basis of the best available information on the matters analyzed, as of December 31, 2020. However, it is possible that events may take place in the future which could make it necessary to ame&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nd these estimations (upward or downward), which would be carried out prospectively, recognizing the effects of the change in estimation 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 2020 there have been no relevant changes in the assumptions &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and estimates made as of December 31, 2019 and 2018, with the exception of those 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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.7. &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 prepared under an Internal Control over Financial Reporting Model (ICFR). It provides reasonable assurance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 transactions 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 f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ramework established in 2013 by the &amp;#8220;Committee of Sponsoring Organizations of the Treadway Commission&amp;#8221; (hereinafter, &amp;quot;COSO&amp;quot;). The COSO 2013 framework sets five components that constitute the basis of the effectiveness and efficiency of the internal control&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 of 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 a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;n 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; they 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 reflec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t the reality of the BBVA Group&amp;#8217;s businesses and processes, as well as the risks and controls designed to mitigate them. It is subject to a continuous evaluation by the internal control units located in the 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; control units are integrated within the BBVA internal control model, defined and led by Regulation &amp;amp; Internal Control, and which is based in two pillars:&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 control system organi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;zed into three lines of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; defense that has been updated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and strengthened in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, as described below:&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 mi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tigate them. In 2019, in order to reinforce the adequate risk management in each area&amp;#8217;s 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) comprises the specialized control units for each type of risk (Finance, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Legal, IT, Third Party, 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 organization and performs challenge to the control model (supervises the imple&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mentation 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, 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: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 committee st&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ructure in the Group, 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.&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 internal control units &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;within Finance comply with a common and standard methodology established at the Group level, as set out in the following diagram&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;The ICFR Model is subject to annual evaluations by the Group&amp;#8217;s Internal Audit Unit. It is also supervised by the Audit Comm&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ittee of the Bank&amp;#8217;s 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 BBVA Group is also required to comply with the Sarbanes-Oxley Act (hereafter &amp;#8220;SOX&amp;#8221;) for Consolidated Financial Statements as a listed company with the U.S. Securities and Exchange Commission (&amp;#8220;SEC&amp;#8221;). The main sen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ior executives of the Group are involved in the design, compliance and implementation of the internal control model to make it effective and 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; the quality and accuracy of the financial information.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory>
  <bbva:Period2020 id="ID_10103" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_SpainmemberMember">(11,76%)</bbva:Period2020>
  <bbva:Period2020 id="ID_10104" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_SpainmemberMember">17,44%</bbva:Period2020>
  <bbva:Period2020 id="ID_10105" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_HpimemberMember_bbva_NationaxisAxis_bbva_SpainmemberMember">(2,60%)</bbva:Period2020>
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  <bbva:Period2020 id="ID_10123" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_HpimemberMember_bbva_NationaxisAxis_bbva_MexicomemberMember">1,89%</bbva:Period2020>
  <bbva:Period2021 id="ID_10124" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_MexicomemberMember">2,84%</bbva:Period2021>
  <bbva:Period2021 id="ID_10125" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_MexicomemberMember">5,75%</bbva:Period2021>
  <bbva:Period2021 id="ID_10126" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_HpimemberMember_bbva_NationaxisAxis_bbva_MexicomemberMember">(1,48%)</bbva:Period2021>
  <bbva:Period2022 id="ID_10127" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_MexicomemberMember">3,25%</bbva:Period2022>
  <bbva:Period2022 id="ID_10128" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_MexicomemberMember">5,53%</bbva:Period2022>
  <bbva:Period2022 id="ID_10129" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_HpimemberMember_bbva_NationaxisAxis_bbva_MexicomemberMember">(0,06%)</bbva:Period2022>
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  <bbva:Period2023 id="ID_10131" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_MexicomemberMember">5,34%</bbva:Period2023>
  <bbva:Period2023 id="ID_10132" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_HpimemberMember_bbva_NationaxisAxis_bbva_MexicomemberMember">0,17%</bbva:Period2023>
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  <bbva:Period2025 id="ID_10136" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_MexicomemberMember">1,41%</bbva:Period2025>
  <bbva:Period2025 id="ID_10137" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_MexicomemberMember">5,02%</bbva:Period2025>
  <bbva:Period2025 id="ID_10138" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_HpimemberMember_bbva_NationaxisAxis_bbva_MexicomemberMember">1,70%</bbva:Period2025>
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  <bbva:Period2020 id="ID_10140" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_TurkeymemberMember">14,49%</bbva:Period2020>
  <bbva:Period2021 id="ID_10141" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_TurkeymemberMember">1,75%</bbva:Period2021>
  <bbva:Period2021 id="ID_10142" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_TurkeymemberMember">15,51%</bbva:Period2021>
  <bbva:Period2022 id="ID_10143" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_TurkeymemberMember">3,56%</bbva:Period2022>
  <bbva:Period2022 id="ID_10144" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_TurkeymemberMember">13,64%</bbva:Period2022>
  <bbva:Period2023 id="ID_10145" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_TurkeymemberMember">3,92%</bbva:Period2023>
  <bbva:Period2023 id="ID_10146" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_TurkeymemberMember">12,33%</bbva:Period2023>
  <bbva:Period2024 id="ID_10147" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_TurkeymemberMember">3,91%</bbva:Period2024>
  <bbva:Period2024 id="ID_10148" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_TurkeymemberMember">11,56%</bbva:Period2024>
  <bbva:Period2025 id="ID_10149" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_TurkeymemberMember">3,91%</bbva:Period2025>
  <bbva:Period2025 id="ID_10150" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_TurkeymemberMember">11,20%</bbva:Period2025>
  <bbva:Period2020 id="ID_10151" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_PerumemberMember">(14,33%)</bbva:Period2020>
  <bbva:Period2020 id="ID_10152" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_PerumemberMember">12,85%</bbva:Period2020>
  <bbva:Period2021 id="ID_10153" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_PerumemberMember">7,53%</bbva:Period2021>
  <bbva:Period2021 id="ID_10154" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_PerumemberMember">10,69%</bbva:Period2021>
  <bbva:Period2022 id="ID_10155" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_PerumemberMember">3,78%</bbva:Period2022>
  <bbva:Period2022 id="ID_10156" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_PerumemberMember">10,48%</bbva:Period2022>
  <bbva:Period2023 id="ID_10157" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_PerumemberMember">3,69%</bbva:Period2023>
  <bbva:Period2023 id="ID_10158" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_PerumemberMember">9,15%</bbva:Period2023>
  <bbva:Period2024 id="ID_10159" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_PerumemberMember">3,57%</bbva:Period2024>
  <bbva:Period2024 id="ID_10160" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_PerumemberMember">7,62%</bbva:Period2024>
  <bbva:Period2025 id="ID_10161" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_PerumemberMember">3,35%</bbva:Period2025>
  <bbva:Period2025 id="ID_10162" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_PerumemberMember">7,27%</bbva:Period2025>
  <bbva:Period2020 id="ID_10163" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_ArgentinaMemberMember">(15,28%)</bbva:Period2020>
  <bbva:Period2020 id="ID_10164" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_ArgentinaMemberMember">14,34%</bbva:Period2020>
  <bbva:Period2021 id="ID_10165" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_ArgentinaMemberMember">0,89%</bbva:Period2021>
  <bbva:Period2021 id="ID_10166" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_ArgentinaMemberMember">16,38%</bbva:Period2021>
  <bbva:Period2022 id="ID_10167" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_ArgentinaMemberMember">1,33%</bbva:Period2022>
  <bbva:Period2022 id="ID_10168" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_ArgentinaMemberMember">13,69%</bbva:Period2022>
  <bbva:Period2023 id="ID_10169" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_ArgentinaMemberMember">1,86%</bbva:Period2023>
  <bbva:Period2023 id="ID_10170" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_ArgentinaMemberMember">10,19%</bbva:Period2023>
  <bbva:Period2024 id="ID_10171" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_ArgentinaMemberMember">1,83%</bbva:Period2024>
  <bbva:Period2024 id="ID_10172" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_ArgentinaMemberMember">8,63%</bbva:Period2024>
  <bbva:Period2025 id="ID_10173" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_ArgentinaMemberMember">1,86%</bbva:Period2025>
  <bbva:Period2025 id="ID_10174" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_ArgentinaMemberMember">7,75%</bbva:Period2025>
  <bbva:Period2020 id="ID_10175" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_ColombiamemberMember">(8,25%)</bbva:Period2020>
  <bbva:Period2020 id="ID_10176" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_ColombiamemberMember">18,31%</bbva:Period2020>
  <bbva:Period2021 id="ID_10177" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_ColombiamemberMember">4,16%</bbva:Period2021>
  <bbva:Period2021 id="ID_10178" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_ColombiamemberMember">16,66%</bbva:Period2021>
  <bbva:Period2022 id="ID_10179" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_ColombiamemberMember">3,16%</bbva:Period2022>
  <bbva:Period2022 id="ID_10180" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_ColombiamemberMember">15,10%</bbva:Period2022>
  <bbva:Period2023 id="ID_10181" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_ColombiamemberMember">3,15%</bbva:Period2023>
  <bbva:Period2023 id="ID_10182" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_ColombiamemberMember">14,84%</bbva:Period2023>
  <bbva:Period2024 id="ID_10183" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_ColombiamemberMember">3,27%</bbva:Period2024>
  <bbva:Period2024 id="ID_10184" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_ColombiamemberMember">13,04%</bbva:Period2024>
  <bbva:Period2025 id="ID_10185" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_GdpmemberMember_bbva_NationaxisAxis_bbva_ColombiamemberMember">3,60%</bbva:Period2025>
  <bbva:Period2025 id="ID_10186" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationofgdpunemploymenthpiaxisaxisAxis_bbva_UnemploymentmemberMember_bbva_NationaxisAxis_bbva_ColombiamemberMember">12,80%</bbva:Period2025>
  <bbva:Period2020favorable id="ID_10187" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">(11,20%)</bbva:Period2020favorable>
  <bbva:Period2020favorable id="ID_10188" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">16,44%</bbva:Period2020favorable>
  <bbva:Period2020favorable id="ID_10189" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_HpimemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">(1,44%)</bbva:Period2020favorable>
  <bbva:Period2021favorable id="ID_10190" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">6,63%</bbva:Period2021favorable>
  <bbva:Period2021favorable id="ID_10191" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">16,03%</bbva:Period2021favorable>
  <bbva:Period2021favorable id="ID_10192" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_HpimemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">(3,28%)</bbva:Period2021favorable>
  <bbva:Period2022favorable id="ID_10193" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">6,27%</bbva:Period2022favorable>
  <bbva:Period2022favorable id="ID_10194" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">12,72%</bbva:Period2022favorable>
  <bbva:Period2022favorable id="ID_10195" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_HpimemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">4,56%</bbva:Period2022favorable>
  <bbva:Period2023favorable id="ID_10196" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">2,95%</bbva:Period2023favorable>
  <bbva:Period2023favorable id="ID_10197" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">10,82%</bbva:Period2023favorable>
  <bbva:Period2023favorable id="ID_10198" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_HpimemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">5,79%</bbva:Period2023favorable>
  <bbva:Period2024favorable id="ID_10199" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">2,07%</bbva:Period2024favorable>
  <bbva:Period2024favorable id="ID_10200" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">9,58%</bbva:Period2024favorable>
  <bbva:Period2024favorable id="ID_10201" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_HpimemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">3,66%</bbva:Period2024favorable>
  <bbva:Period2025favorable id="ID_10202" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">2,01%</bbva:Period2025favorable>
  <bbva:Period2025favorable id="ID_10203" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">8,55%</bbva:Period2025favorable>
  <bbva:Period2025favorable id="ID_10204" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_HpimemberMember_bbva_NationfavorableAxis_bbva_SpainmemberMember">3,57%</bbva:Period2025favorable>
  <bbva:Period2020favorable id="ID_10205" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">(8,85%)</bbva:Period2020favorable>
  <bbva:Period2020favorable id="ID_10206" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">4,57%</bbva:Period2020favorable>
  <bbva:Period2020favorable id="ID_10207" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_HpimemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">1,71%</bbva:Period2020favorable>
  <bbva:Period2021favorable id="ID_10208" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">4,58%</bbva:Period2021favorable>
  <bbva:Period2021favorable id="ID_10209" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">5,40%</bbva:Period2021favorable>
  <bbva:Period2021favorable id="ID_10210" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_HpimemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">(1,23%)</bbva:Period2021favorable>
  <bbva:Period2022favorable id="ID_10211" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">3,80%</bbva:Period2022favorable>
  <bbva:Period2022favorable id="ID_10212" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">5,17%</bbva:Period2022favorable>
  <bbva:Period2022favorable id="ID_10213" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_HpimemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">0,32%</bbva:Period2022favorable>
  <bbva:Period2023favorable id="ID_10214" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">1,62%</bbva:Period2023favorable>
  <bbva:Period2023favorable id="ID_10215" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">5,04%</bbva:Period2023favorable>
  <bbva:Period2023favorable id="ID_10216" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_HpimemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">0,31%</bbva:Period2023favorable>
  <bbva:Period2024favorable id="ID_10217" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">1,47%</bbva:Period2024favorable>
  <bbva:Period2024favorable id="ID_10218" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">4,91%</bbva:Period2024favorable>
  <bbva:Period2024favorable id="ID_10219" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_HpimemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">1,01%</bbva:Period2024favorable>
  <bbva:Period2025favorable id="ID_10220" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">1,47%</bbva:Period2025favorable>
  <bbva:Period2025favorable id="ID_10221" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">4,76%</bbva:Period2025favorable>
  <bbva:Period2025favorable id="ID_10222" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_HpimemberMember_bbva_NationfavorableAxis_bbva_MexicomemberMember">1,72%</bbva:Period2025favorable>
  <bbva:Period2020favorable id="ID_10223" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_TurkeymemberMember">2,07%</bbva:Period2020favorable>
  <bbva:Period2020favorable id="ID_10224" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_TurkeymemberMember">13,45%</bbva:Period2020favorable>
  <bbva:Period2021favorable id="ID_10225" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_TurkeymemberMember">9,08%</bbva:Period2021favorable>
  <bbva:Period2021favorable id="ID_10226" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_TurkeymemberMember">12,60%</bbva:Period2021favorable>
  <bbva:Period2022favorable id="ID_10227" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_TurkeymemberMember">5,30%</bbva:Period2022favorable>
  <bbva:Period2022favorable id="ID_10228" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_TurkeymemberMember">11,58%</bbva:Period2022favorable>
  <bbva:Period2023favorable id="ID_10229" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_TurkeymemberMember">4,13%</bbva:Period2023favorable>
  <bbva:Period2023favorable id="ID_10230" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_TurkeymemberMember">11,58%</bbva:Period2023favorable>
  <bbva:Period2024favorable id="ID_10231" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_TurkeymemberMember">4,11%</bbva:Period2024favorable>
  <bbva:Period2024favorable id="ID_10232" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_TurkeymemberMember">11,19%</bbva:Period2024favorable>
  <bbva:Period2025favorable id="ID_10233" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_TurkeymemberMember">4,10%</bbva:Period2025favorable>
  <bbva:Period2025favorable id="ID_10234" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_TurkeymemberMember">10,85%</bbva:Period2025favorable>
  <bbva:Period2020favorable id="ID_10235" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_PerumemberMember">(11,74%)</bbva:Period2020favorable>
  <bbva:Period2020favorable id="ID_10236" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_PerumemberMember">12,75%</bbva:Period2020favorable>
  <bbva:Period2021favorable id="ID_10237" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_PerumemberMember">12,56%</bbva:Period2021favorable>
  <bbva:Period2021favorable id="ID_10238" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_PerumemberMember">10,29%</bbva:Period2021favorable>
  <bbva:Period2022favorable id="ID_10239" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_PerumemberMember">5,25%</bbva:Period2022favorable>
  <bbva:Period2022favorable id="ID_10240" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_PerumemberMember">10,00%</bbva:Period2022favorable>
  <bbva:Period2023favorable id="ID_10241" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_PerumemberMember">3,68%</bbva:Period2023favorable>
  <bbva:Period2023favorable id="ID_10242" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_PerumemberMember">8,73%</bbva:Period2023favorable>
  <bbva:Period2024favorable id="ID_10243" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_PerumemberMember">3,58%</bbva:Period2024favorable>
  <bbva:Period2024favorable id="ID_10244" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_PerumemberMember">7,23%</bbva:Period2024favorable>
  <bbva:Period2025favorable id="ID_10245" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_PerumemberMember">3,35%</bbva:Period2025favorable>
  <bbva:Period2025favorable id="ID_10246" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_PerumemberMember">6,88%</bbva:Period2025favorable>
  <bbva:Period2020favorable id="ID_10247" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_ArgentinaMemberMember">(10,64%)</bbva:Period2020favorable>
  <bbva:Period2020favorable id="ID_10248" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_ArgentinaMemberMember">13,60%</bbva:Period2020favorable>
  <bbva:Period2021favorable id="ID_10249" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_ArgentinaMemberMember">9,95%</bbva:Period2021favorable>
  <bbva:Period2021favorable id="ID_10250" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_ArgentinaMemberMember">14,39%</bbva:Period2021favorable>
  <bbva:Period2022favorable id="ID_10251" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_ArgentinaMemberMember">3,52%</bbva:Period2022favorable>
  <bbva:Period2022favorable id="ID_10252" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_ArgentinaMemberMember">11,88%</bbva:Period2022favorable>
  <bbva:Period2023favorable id="ID_10253" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_ArgentinaMemberMember">2,08%</bbva:Period2023favorable>
  <bbva:Period2023favorable id="ID_10254" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_ArgentinaMemberMember">8,99%</bbva:Period2023favorable>
  <bbva:Period2024favorable id="ID_10255" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_ArgentinaMemberMember">2,11%</bbva:Period2024favorable>
  <bbva:Period2024favorable id="ID_10256" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_ArgentinaMemberMember">7,69%</bbva:Period2024favorable>
  <bbva:Period2025favorable id="ID_10257" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_ArgentinaMemberMember">2,14%</bbva:Period2025favorable>
  <bbva:Period2025favorable id="ID_10258" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_ArgentinaMemberMember">6,78%</bbva:Period2025favorable>
  <bbva:Period2020favorable id="ID_10259" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_ColombiamemberMember">(6,80%)</bbva:Period2020favorable>
  <bbva:Period2020favorable id="ID_10260" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_ColombiamemberMember">18,14%</bbva:Period2020favorable>
  <bbva:Period2021favorable id="ID_10261" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_ColombiamemberMember">6,80%</bbva:Period2021favorable>
  <bbva:Period2021favorable id="ID_10262" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_ColombiamemberMember">16,14%</bbva:Period2021favorable>
  <bbva:Period2022favorable id="ID_10263" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_ColombiamemberMember">3,70%</bbva:Period2022favorable>
  <bbva:Period2022favorable id="ID_10264" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_ColombiamemberMember">14,53%</bbva:Period2022favorable>
  <bbva:Period2023favorable id="ID_10265" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_ColombiamemberMember">3,15%</bbva:Period2023favorable>
  <bbva:Period2023favorable id="ID_10266" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_ColombiamemberMember">14,28%</bbva:Period2023favorable>
  <bbva:Period2024favorable id="ID_10267" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_ColombiamemberMember">3,27%</bbva:Period2024favorable>
  <bbva:Period2024favorable id="ID_10268" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_ColombiamemberMember">12,49%</bbva:Period2024favorable>
  <bbva:Period2025favorable id="ID_10269" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_GdpmemberMember_bbva_NationfavorableAxis_bbva_ColombiamemberMember">3,60%</bbva:Period2025favorable>
  <bbva:Period2025favorable id="ID_10270" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FavorablegdpumemplomenthpiAxis_bbva_UnemploymentmemberMember_bbva_NationfavorableAxis_bbva_ColombiamemberMember">12,28%</bbva:Period2025favorable>
  <bbva:Period2020estimation id="ID_10271" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">(11,48%)</bbva:Period2020estimation>
  <bbva:Period2020estimation id="ID_10272" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">16,95%</bbva:Period2020estimation>
  <bbva:Period2020estimation id="ID_10273" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_HpimemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">(1,98%)</bbva:Period2020estimation>
  <bbva:Period2021estimation id="ID_10274" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">5,99%</bbva:Period2021estimation>
  <bbva:Period2021estimation id="ID_10275" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">17,51%</bbva:Period2021estimation>
  <bbva:Period2021estimation id="ID_10276" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_HpimemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">(5,08%)</bbva:Period2021estimation>
  <bbva:Period2022estimation id="ID_10277" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">6,04%</bbva:Period2022estimation>
  <bbva:Period2022estimation id="ID_10278" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">14,35%</bbva:Period2022estimation>
  <bbva:Period2022estimation id="ID_10279" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_HpimemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">3,48%</bbva:Period2022estimation>
  <bbva:Period2023estimation id="ID_10280" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">2,93%</bbva:Period2023estimation>
  <bbva:Period2023estimation id="ID_10281" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">12,41%</bbva:Period2023estimation>
  <bbva:Period2023estimation id="ID_10282" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_HpimemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">5,44%</bbva:Period2023estimation>
  <bbva:Period2024estimation id="ID_10283" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">2,07%</bbva:Period2024estimation>
  <bbva:Period2024estimation id="ID_10284" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">11,14%</bbva:Period2024estimation>
  <bbva:Period2024estimation id="ID_10285" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_HpimemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">3,20%</bbva:Period2024estimation>
  <bbva:Period2025estimation id="ID_10286" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">2,01%</bbva:Period2025estimation>
  <bbva:Period2025estimation id="ID_10287" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">9,99%</bbva:Period2025estimation>
  <bbva:Period2025estimation id="ID_10288" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_HpimemberMember_bbva_NationEstimationAxis_bbva_SpainmemberMember">3,12%</bbva:Period2025estimation>
  <bbva:Period2020estimation id="ID_10289" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">(9,25%)</bbva:Period2020estimation>
  <bbva:Period2020estimation id="ID_10290" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">4,62%</bbva:Period2020estimation>
  <bbva:Period2020estimation id="ID_10291" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_HpimemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">1,81%</bbva:Period2020estimation>
  <bbva:Period2021estimation id="ID_10292" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">3,71%</bbva:Period2021estimation>
  <bbva:Period2021estimation id="ID_10293" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">5,57%</bbva:Period2021estimation>
  <bbva:Period2021estimation id="ID_10294" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_HpimemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">(1,32%)</bbva:Period2021estimation>
  <bbva:Period2022estimation id="ID_10295" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">3,53%</bbva:Period2022estimation>
  <bbva:Period2022estimation id="ID_10296" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">5,35%</bbva:Period2022estimation>
  <bbva:Period2022estimation id="ID_10297" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_HpimemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">0,15%</bbva:Period2022estimation>
  <bbva:Period2023estimation id="ID_10298" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">1,55%</bbva:Period2023estimation>
  <bbva:Period2023estimation id="ID_10299" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">5,19%</bbva:Period2023estimation>
  <bbva:Period2023estimation id="ID_10300" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_HpimemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">0,31%</bbva:Period2023estimation>
  <bbva:Period2024estimation id="ID_10301" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">1,45%</bbva:Period2024estimation>
  <bbva:Period2024estimation id="ID_10302" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">5,03%</bbva:Period2024estimation>
  <bbva:Period2024estimation id="ID_10303" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_HpimemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">1,02%</bbva:Period2024estimation>
  <bbva:Period2025estimation id="ID_10304" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">1,46%</bbva:Period2025estimation>
  <bbva:Period2025estimation id="ID_10305" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">4,88%</bbva:Period2025estimation>
  <bbva:Period2025estimation id="ID_10306" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_HpimemberMember_bbva_NationEstimationAxis_bbva_MexicomemberMember">1,71%</bbva:Period2025estimation>
  <bbva:Period2020estimation id="ID_10307" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_TurkeymemberMember">(0,01%)</bbva:Period2020estimation>
  <bbva:Period2020estimation id="ID_10308" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_TurkeymemberMember">13,98%</bbva:Period2020estimation>
  <bbva:Period2021estimation id="ID_10309" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_TurkeymemberMember">5,52%</bbva:Period2021estimation>
  <bbva:Period2021estimation id="ID_10310" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_TurkeymemberMember">14,05%</bbva:Period2021estimation>
  <bbva:Period2022estimation id="ID_10311" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_TurkeymemberMember">4,53%</bbva:Period2022estimation>
  <bbva:Period2022estimation id="ID_10312" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_TurkeymemberMember">12,58%</bbva:Period2022estimation>
  <bbva:Period2023estimation id="ID_10313" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_TurkeymemberMember">4,01%</bbva:Period2023estimation>
  <bbva:Period2023estimation id="ID_10314" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_TurkeymemberMember">11,95%</bbva:Period2023estimation>
  <bbva:Period2024estimation id="ID_10315" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_TurkeymemberMember">3,99%</bbva:Period2024estimation>
  <bbva:Period2024estimation id="ID_10316" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_TurkeymemberMember">11,38%</bbva:Period2024estimation>
  <bbva:Period2025estimation id="ID_10317" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_TurkeymemberMember">3,98%</bbva:Period2025estimation>
  <bbva:Period2025estimation id="ID_10318" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_TurkeymemberMember">11,03%</bbva:Period2025estimation>
  <bbva:Period2020estimation id="ID_10319" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_PerumemberMember">(13,04%)</bbva:Period2020estimation>
  <bbva:Period2020estimation id="ID_10320" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_PerumemberMember">12,80%</bbva:Period2020estimation>
  <bbva:Period2021estimation id="ID_10321" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_PerumemberMember">10,05%</bbva:Period2021estimation>
  <bbva:Period2021estimation id="ID_10322" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_PerumemberMember">10,48%</bbva:Period2021estimation>
  <bbva:Period2022estimation id="ID_10323" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_PerumemberMember">4,52%</bbva:Period2022estimation>
  <bbva:Period2022estimation id="ID_10324" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_PerumemberMember">10,23%</bbva:Period2022estimation>
  <bbva:Period2023estimation id="ID_10325" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_PerumemberMember">3,69%</bbva:Period2023estimation>
  <bbva:Period2023estimation id="ID_10326" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_PerumemberMember">8,93%</bbva:Period2023estimation>
  <bbva:Period2024estimation id="ID_10327" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_PerumemberMember">3,58%</bbva:Period2024estimation>
  <bbva:Period2024estimation id="ID_10328" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_PerumemberMember">7,41%</bbva:Period2024estimation>
  <bbva:Period2025estimation id="ID_10329" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_PerumemberMember">3,35%</bbva:Period2025estimation>
  <bbva:Period2025estimation id="ID_10330" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_PerumemberMember">7,06%</bbva:Period2025estimation>
  <bbva:Period2020estimation id="ID_10331" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_ArgentinaMemberMember">(13,00%)</bbva:Period2020estimation>
  <bbva:Period2020estimation id="ID_10332" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_ArgentinaMemberMember">13,98%</bbva:Period2020estimation>
  <bbva:Period2021estimation id="ID_10333" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_ArgentinaMemberMember">5,54%</bbva:Period2021estimation>
  <bbva:Period2021estimation id="ID_10334" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_ArgentinaMemberMember">15,40%</bbva:Period2021estimation>
  <bbva:Period2022estimation id="ID_10335" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_ArgentinaMemberMember">2,54%</bbva:Period2022estimation>
  <bbva:Period2022estimation id="ID_10336" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_ArgentinaMemberMember">12,80%</bbva:Period2022estimation>
  <bbva:Period2023estimation id="ID_10337" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_ArgentinaMemberMember">1,98%</bbva:Period2023estimation>
  <bbva:Period2023estimation id="ID_10338" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_ArgentinaMemberMember">9,60%</bbva:Period2023estimation>
  <bbva:Period2024estimation id="ID_10339" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_ArgentinaMemberMember">1,98%</bbva:Period2024estimation>
  <bbva:Period2024estimation id="ID_10340" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_ArgentinaMemberMember">8,18%</bbva:Period2024estimation>
  <bbva:Period2025estimation id="ID_10341" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_ArgentinaMemberMember">2,01%</bbva:Period2025estimation>
  <bbva:Period2025estimation id="ID_10342" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_ArgentinaMemberMember">7,28%</bbva:Period2025estimation>
  <bbva:Period2020estimation id="ID_10343" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_ColombiamemberMember">(13,00%)</bbva:Period2020estimation>
  <bbva:Period2020estimation id="ID_10344" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_ColombiamemberMember">13,98%</bbva:Period2020estimation>
  <bbva:Period2021estimation id="ID_10345" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_ColombiamemberMember">5,54%</bbva:Period2021estimation>
  <bbva:Period2021estimation id="ID_10346" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_ColombiamemberMember">15,40%</bbva:Period2021estimation>
  <bbva:Period2022estimation id="ID_10347" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_ColombiamemberMember">2,54%</bbva:Period2022estimation>
  <bbva:Period2022estimation id="ID_10348" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_ColombiamemberMember">12,80%</bbva:Period2022estimation>
  <bbva:Period2023estimation id="ID_10349" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_ColombiamemberMember">1,98%</bbva:Period2023estimation>
  <bbva:Period2023estimation id="ID_10350" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_ColombiamemberMember">9,60%</bbva:Period2023estimation>
  <bbva:Period2024estimation id="ID_10351" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_ColombiamemberMember">1,98%</bbva:Period2024estimation>
  <bbva:Period2024estimation id="ID_10352" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_ColombiamemberMember">8,18%</bbva:Period2024estimation>
  <bbva:Period2025estimation id="ID_10353" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_GdpmemberMember_bbva_NationEstimationAxis_bbva_ColombiamemberMember">2,01%</bbva:Period2025estimation>
  <bbva:Period2025estimation id="ID_10354" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_EstimationbasishpigdpunemploymentAxis_bbva_UnemploymentmemberMember_bbva_NationEstimationAxis_bbva_ColombiamemberMember">7,28%</bbva:Period2025estimation>
  <ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory id="ID_10355" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;10. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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:13,8pt;' &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;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:10,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:420pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:420pt;' &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:21pt;' &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-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;Notes&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:#072146;' &gt;2020&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:#072146;' &gt;2019&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:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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: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:#E7E6E6;' &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:#E7E6E6;' &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:#E7E6E6;' &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:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:45pt;border-top-style:solid;border-top-width:1;text-align:center;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;40.183&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;32.232&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;29.523&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.2.2&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;11.458&lt;/font&gt;&lt;/td&gt;&lt;td 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;8.892&lt;/font&gt;&lt;/td&gt;&lt;td 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;5.254&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;633&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;1.037&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;880&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;10.824&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;7.855&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;4.374&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.2.2&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;23.970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26.309&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:8pt;color:#000000;' &gt;25.577&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;1.011&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;840&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;1.001&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;19.942&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;23.918&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;22.950&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;1.479&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;679&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;790&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;1.538&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;872&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;836&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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.2.2&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;32.647&lt;/font&gt;&lt;/td&gt;&lt;td 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;34.303&lt;/font&gt;&lt;/td&gt;&lt;td 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;28.750&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;2.163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;2.163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;20.499&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;21.286&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:8pt;color:#808080;' &gt;14.566&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;20.491&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;21.219&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;13.305&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;12.095&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;12.482&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;12.021&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;11.493&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;12.187&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:8pt;font-style:italic;color:#808080;' &gt;11.794&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:240pt;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:45pt;text-align:center;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;8.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;108.257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;101.735&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;89.103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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-weight:bold;color:#004481;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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:#E7E6E6;' &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:#E7E6E6;' &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:#E7E6E6;' &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:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:45pt;border-top-style:solid;border-top-width:1;text-align:center;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;41.680&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;34.066&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;30.801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Short positions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;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;12.312&lt;/font&gt;&lt;/td&gt;&lt;td 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;12.249&lt;/font&gt;&lt;/td&gt;&lt;td 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;11.025&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;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;32.496&lt;/font&gt;&lt;/td&gt;&lt;td 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;42.365&lt;/font&gt;&lt;/td&gt;&lt;td 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;37.934&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Deposits from central banks &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;6.277&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;7.635&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;10.511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;font-style:italic;color:#666666;' &gt;Repurchase agreement (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;6.277&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;7.635&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;10.511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Deposits from credit institutions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;16.558&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;24.969&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;15.687&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;font-style:italic;color:#666666;' &gt;Repurchase agreement (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;16.217&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:8pt;font-style:italic;color:#808080;' &gt;24.578&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;14.839&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;9.660&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;9.761&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:#808080;' &gt;11.736&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;font-style:italic;color:#666666;' &gt;Repurchase agreement (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;9.616&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;9.689&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-style:italic;color:#808080;' &gt;11.466&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:240pt;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:45pt;text-align:center;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;8.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;86.488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;88.680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;79.761&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;(*)   The variation in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;2020 is mainly due to the evolution of exchange rate derivatives at BBVA, S.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:6pt;' &gt;The information for 2019 and 2018 has been subject to certain modifications related to the operation of non-significant cross currency swaps in order to improve comparability &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;with the figures for 2020.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;(**) See Note 35.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of December 31, 2020, 2019 and 2018 &amp;#8220;Short positions&amp;#8221; include &amp;#8364;11,696, &amp;#8364;11,649 and &amp;#8364;10,255 million, respectively, held with general governments.&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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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, 2020, 2019 and 2018, trading derivatives were mainly contracted in over-the-counter (OTC) marke&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ts, with counterparties, consisting primarily of foreign credit institutions and other financial corporations, and are related to foreign-exchange, interest-rate and equity risk. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Below is a breakdown of the net positions by transaction type of the fair va&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lue 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:12,75pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:504,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:504,75pt;' &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:93pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:93pt;' &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:137,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:137,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:137,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:137,25pt;' &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 colspan='3' rowspan='1' style='width:137,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:137,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27,75pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:93pt;' &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;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;26.451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;26.028&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;3.252.066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;21.004&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;20.378&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;3.024.794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;18.546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;18.169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;2.929.371&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC &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:7pt;color:#000000;' &gt;26.447&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:7pt;color:#000000;' &gt;26.020&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:7pt;color:#000000;' &gt;3.233.718&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:7pt;color:#000000;' &gt;21.004&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:7pt;color:#000000;' &gt;20.377&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:7pt;color:#000000;' &gt;2.997.443&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:7pt;color:#000000;' &gt;18.546&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:7pt;color:#000000;' &gt;18.169&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:7pt;color:#000000;' &gt;2.910.016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Organized market&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;18.348&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;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:7pt;color:#000000;' &gt;27.351&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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: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:7pt;color:#000000;' &gt;19.355&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Equity instruments&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:7pt;font-weight:bold;color:#004481;' &gt;2.626&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:7pt;font-weight:bold;color:#004481;' &gt;4.143&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:7pt;font-weight:bold;color:#004481;' &gt;72.176&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:7pt;font-weight:bold;color:#004481;' &gt;2.263&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:7pt;font-weight:bold;color:#004481;' &gt;3.499&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:7pt;font-weight:bold;color:#004481;' &gt;84.140&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:7pt;font-weight:bold;color:#004481;' &gt;2.799&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:7pt;font-weight:bold;color:#004481;' &gt;2.956&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:7pt;font-weight:bold;color:#004481;' &gt;114.184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC&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:7pt;color:#000000;' &gt;584&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:7pt;color:#000000;' &gt;1.836&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:7pt;color:#000000;' &gt;42.351&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:7pt;color:#000000;' &gt;353&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:7pt;color:#000000;' &gt;1.435&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:7pt;color:#000000;' &gt;40.507&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:7pt;color:#000000;' &gt;631&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:7pt;color:#000000;' &gt;463&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:7pt;color:#000000;' &gt;39.599&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Organized market&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.042&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.307&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:7pt;color:#000000;' &gt;29.825&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:7pt;color:#000000;' &gt;1.910&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;74.586&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Foreign exchange and gold&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:7pt;font-weight:bold;color:#004481;' &gt;10.952&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:7pt;font-weight:bold;color:#004481;' &gt;11.216&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:7pt;font-weight:bold;color:#004481;' &gt;461.898&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:7pt;font-weight:bold;color:#004481;' &gt;8.608&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:7pt;font-weight:bold;color:#004481;' &gt;9.788&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:7pt;font-weight:bold;color:#004481;' &gt;472.194&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:7pt;font-weight:bold;color:#004481;' &gt;7.942&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:7pt;font-weight:bold;color:#004481;' &gt;9.280&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:7pt;font-weight:bold;color:#004481;' &gt;432.283&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC&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:7pt;color:#000000;' &gt;10.942&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:7pt;color:#000000;' &gt;11.216&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:7pt;color:#000000;' &gt;457.180&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:7pt;color:#000000;' &gt;8.571&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:7pt;color:#000000;' &gt;9.782&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:7pt;color:#000000;' &gt;463.662&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:7pt;color:#000000;' &gt;7.931&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:7pt;color:#000000;' &gt;9.225&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:7pt;color:#000000;' &gt;426.952&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Organized market&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;4.719&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5.331&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Credit&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:7pt;font-weight:bold;color:#004481;' &gt;153&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:7pt;font-weight:bold;color:#004481;' &gt;292&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:7pt;font-weight:bold;color:#004481;' &gt;23.411&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:7pt;font-weight:bold;color:#004481;' &gt;353&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:7pt;font-weight:bold;color:#004481;' &gt;397&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:7pt;font-weight:bold;color:#004481;' &gt;29.077&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:7pt;font-weight:bold;color:#004481;' &gt;232&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:7pt;font-weight:bold;color:#004481;' &gt;393&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:7pt;font-weight:bold;color:#004481;' &gt;25.452&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit default swap&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:7pt;color:#000000;' &gt;146&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:7pt;color:#000000;' &gt;156&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:7pt;color:#000000;' &gt;21.529&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:7pt;color:#000000;' &gt;338&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:7pt;color:#000000;' &gt;283&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:7pt;color:#000000;' &gt;26.702&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:7pt;color:#000000;' &gt;228&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:7pt;color:#000000;' &gt;248&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:7pt;color:#000000;' &gt;22.791&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit spread option&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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: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: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: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:7pt;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:7pt;color:#000000;' &gt;150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Total return swap&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.882&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.161&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Commodities&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;26&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:7pt;font-weight:bold;color:#004481;' &gt;4&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:7pt;font-weight:bold;color:#004481;' &gt;4&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:7pt;font-weight:bold;color:#004481;' &gt;64&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:7pt;font-weight:bold;color:#004481;' &gt;3&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:7pt;font-weight:bold;color:#004481;' &gt;3&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:7pt;font-weight:bold;color:#004481;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;DERIVATIVES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;40.183&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;41.680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;3.809.577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;32.232&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;34.066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;3.610.269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;29.523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;30.801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;3.501.358&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;Of which: OTC - credit institutions&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:7pt;font-style:italic;color:#808080;' &gt;24.432&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:7pt;font-style:italic;color:#808080;' &gt;27.244&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:7pt;font-style:italic;color:#808080;' &gt;958.017&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:7pt;font-style:italic;color:#808080;' &gt;19.962&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:7pt;font-style:italic;color:#808080;' &gt;22.973&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:7pt;font-style:italic;color:#808080;' &gt;1.000.243&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:7pt;font-style:italic;color:#808080;' &gt;16.305&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:7pt;font-style:italic;color:#808080;' &gt;18.055&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:7pt;font-style:italic;color:#808080;' &gt;897.384&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;Of which: OTC - other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;8.211&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:7pt;font-style:italic;color:#808080;' &gt;8.493&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:7pt;font-style:italic;color:#808080;' &gt;2.663.978&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;6.028&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;6.089&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:7pt;font-style:italic;color:#808080;' &gt;2.370.988&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;7.136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;7.522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;Of which: OTC - other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;5.484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;3.627&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:7pt;font-style:italic;color:#808080;' &gt;134.690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;4.294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;2.932&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;3.902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;2.677&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory>
  <bbva:Disclosureofnontradingfinancialassetsmndatoryatfairvaluethroughprofitorlossexplanatory id="ID_10356" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;11. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-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:17,15pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:419,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:419,25pt;' &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:21,5pt;' &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;font-weight:bold;color:#000000;' &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:8pt;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: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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &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:8pt;color:#000000;' &gt;Equity instruments&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;7.2.2&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;4.133&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;4.327&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;3.095&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &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;Debt securities&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;7.2.2&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;356&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;110&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;237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &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;Loans and advances to customers&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;7.2.2&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;709&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;1.120&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;1.803&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:203,25pt;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;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;8.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;5.198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;5.557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;5.135&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofnontradingfinancialassetsmndatoryatfairvaluethroughprofitorlossexplanatory>
  <bbva:Maximumcreditriskexposure id="ID_10357" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">19439000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10358" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">19163000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10359" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">200000000</bbva:Maximumcreditriskexposure>
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  <bbva:Accumulatedvaluecorrection id="ID_10438" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">-15000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10439" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-22000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10440" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">-21000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10441" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-31000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10442" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">-19000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10443" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-2000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10444" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">-10000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10445" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-6465000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10446" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">-811000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10447" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-904000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10448" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">-4750000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10449" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-5847000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10450" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">-1283000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10451" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-1252000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10452" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">-3312000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10453" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-12402000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10454" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">-2129000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10455" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-2181000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10456" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">-8093000000</bbva:Accumulatedvaluecorrection>
  <bbva:Netamount id="ID_10457" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">28222000000</bbva:Netamount>
  <bbva:Netamount id="ID_10458" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">27496000000</bbva:Netamount>
  <bbva:Netamount id="ID_10459" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">660000000</bbva:Netamount>
  <bbva:Netamount id="ID_10460" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">66000000</bbva:Netamount>
  <bbva:Netamount id="ID_10461" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">11207000000</bbva:Netamount>
  <bbva:Netamount id="ID_10462" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">11066000000</bbva:Netamount>
  <bbva:Netamount id="ID_10463" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">134000000</bbva:Netamount>
  <bbva:Netamount id="ID_10464" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">8000000</bbva:Netamount>
  <bbva:Netamount id="ID_10465" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">166789000000</bbva:Netamount>
  <bbva:Netamount id="ID_10466" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">147957000000</bbva:Netamount>
  <bbva:Netamount id="ID_10467" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">15114000000</bbva:Netamount>
  <bbva:Netamount id="ID_10468" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">3718000000</bbva:Netamount>
  <bbva:Netamount id="ID_10469" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">176142000000</bbva:Netamount>
  <bbva:Netamount id="ID_10470" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">156801000000</bbva:Netamount>
  <bbva:Netamount id="ID_10471" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">15272000000</bbva:Netamount>
  <bbva:Netamount id="ID_10472" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">4069000000</bbva:Netamount>
  <bbva:Netamount id="ID_10473" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">382360000000</bbva:Netamount>
  <bbva:Netamount id="ID_10474" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">343320000000</bbva:Netamount>
  <bbva:Netamount id="ID_10475" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">31179000000</bbva:Netamount>
  <bbva:Netamount id="ID_10476" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">7861000000</bbva:Netamount>
  <ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory id="ID_10477" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;12. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Financial assets and liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/p&gt;&lt;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:24pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:430,5pt;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;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:18pt;' &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;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/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:50,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&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;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.2.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.117 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.313 &lt;/font&gt;&lt;/td&gt;&lt;/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;font-weight:bold;color:#004481;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;902 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;944&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;976 &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:50,25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.531 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.656&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.858 &lt;/font&gt;&lt;/td&gt;&lt;/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;Other financial liabilities: Unit-linked products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.617 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.410&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.159 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &gt;&lt;td style='width:229,5pt;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:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;8.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;10.050 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;10.010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;6.993 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;Within &amp;#8220;Financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 products in which the policyholder assumes th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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 included in these headings to reduce inconsistencies (asymmetries) in the valuation of those operations and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;those used to manage their risk.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory>
  <bbva:Maximumcreditriskexposure id="ID_10478" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">28632000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10479" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">27740000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10480" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">764000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10481" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">128000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10482" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">9490000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10483" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">9189000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10484" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">291000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10485" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">11000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10486" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">169764000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10487" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">145875000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10488" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">15516000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10489" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">8372000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10490" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">178339000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10491" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">156400000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10492" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">14102000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10493" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">7838000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10494" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">386225000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10495" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">339204000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_10496" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">30673000000</bbva:Maximumcreditriskexposure>
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  <bbva:Accumulatedvaluecorrection id="ID_10498" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-84000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10499" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">-21000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10500" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-25000000</bbva:Accumulatedvaluecorrection>
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  <bbva:Accumulatedvaluecorrection id="ID_10508" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-1190000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10509" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">-4341000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10510" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-5833000000</bbva:Accumulatedvaluecorrection>
  <bbva:Accumulatedvaluecorrection id="ID_10511" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">-1305000000</bbva:Accumulatedvaluecorrection>
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  <bbva:Accumulatedvaluecorrection id="ID_10514" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-12199000000</bbva:Accumulatedvaluecorrection>
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  <bbva:Accumulatedvaluecorrection id="ID_10516" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-2374000000</bbva:Accumulatedvaluecorrection>
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  <bbva:Netamount id="ID_10518" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">28549000000</bbva:Netamount>
  <bbva:Netamount id="ID_10519" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">27719000000</bbva:Netamount>
  <bbva:Netamount id="ID_10520" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">739000000</bbva:Netamount>
  <bbva:Netamount id="ID_10521" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_GeneralgovernmentMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">91000000</bbva:Netamount>
  <bbva:Netamount id="ID_10522" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">9468000000</bbva:Netamount>
  <bbva:Netamount id="ID_10523" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">9176000000</bbva:Netamount>
  <bbva:Netamount id="ID_10524" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">286000000</bbva:Netamount>
  <bbva:Netamount id="ID_10525" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">6000000</bbva:Netamount>
  <bbva:Netamount id="ID_10526" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">163503000000</bbva:Netamount>
  <bbva:Netamount id="ID_10527" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">145145000000</bbva:Netamount>
  <bbva:Netamount id="ID_10528" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">14327000000</bbva:Netamount>
  <bbva:Netamount id="ID_10529" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_NonfinancialinstitutionsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">4031000000</bbva:Netamount>
  <bbva:Netamount id="ID_10530" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">172506000000</bbva:Netamount>
  <bbva:Netamount id="ID_10531" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">155094000000</bbva:Netamount>
  <bbva:Netamount id="ID_10532" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">12946000000</bbva:Netamount>
  <bbva:Netamount id="ID_10533" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_PrivateindividualsMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">4466000000</bbva:Netamount>
  <bbva:Netamount id="ID_10534" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">374027000000</bbva:Netamount>
  <bbva:Netamount id="ID_10535" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">337134000000</bbva:Netamount>
  <bbva:Netamount id="ID_10536" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">28299000000</bbva:Netamount>
  <bbva:Netamount id="ID_10537" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CreditriskbycounterpartytableaxisaxisAxis_bbva_TotalMember_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">8593000000</bbva:Netamount>
  <bbva:Disclosureofavailableforsalefinancialassetsthroughtothertcomprehensiveincomeexplanatory id="ID_10538" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;13. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;13.1. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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:22,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:440,25pt;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;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:21pt;' &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;font-weight:bold;color:#000000;' &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:8pt;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: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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Equity instruments&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;7.2.2&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;1.100&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;2.420&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;2.595&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Debt securities (*)&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;68.308&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;58.731&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;53.709&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Loans and advances to credit institutions&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;7.2.2&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;33&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;33&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;33&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:224,25pt;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:54pt;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;8.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;69.440&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;61.183&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;56.337&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: loss allowances of debt securities&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;font-style:italic;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;font-style:italic;color:#666666;' &gt;(97)&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;font-style:italic;color:#666666;' &gt;(110)&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;font-style:italic;color:#666666;' &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:left;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0,0500000000000007pt;' &gt;(*) The variation corresponds mainly to the increase in financial assets issued by governments in BBVA, S.A.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;During financial years 2020 and 2019, there have been no significant reclassifications from &amp;#8220;Financial assets at fair value through other&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; comprehensive income&amp;#8221; to other headings or from other headings to &amp;#8220;Financial assets at fair value through other comprehensive income&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top: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;13.2. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Equity instruments&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The breakdown of the balance under the heading &amp;quot;Equity instruments&amp;quot; of the accompanying consoli&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dated financial statements as of December 31, 2020, 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:15pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:734,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:734,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:11,25pt;' &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:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:212,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:212,25pt;' &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 colspan='4' rowspan='1' style='width:189pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:189pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:198pt;' &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:33,75pt;' &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:8pt;font-weight:bold;color:#0066CC;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:#003366;' &gt;Unrealized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;gains&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:#003366;' &gt;Unrealized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt; value &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:#003366;' &gt;Amortized cost&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:#003366;' &gt;Unrealized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;gains&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:#003366;' &gt;Unrealized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &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:8pt;font-weight:bold;color:#003366;' &gt;Amortized cost&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;border-color:Black;min-width:53,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;font-weight:bold;color:#003366;' &gt;Unrealized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;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: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:8pt;font-weight:bold;color:#004481;' &gt;Equity 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:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;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:#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:#000000;' &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:#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;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:8pt;font-weight:bold;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:right;vertical-align:middle;border-color:Black;min-width:53,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#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;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: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:8pt;color:#000000;' &gt;Spanish companies shares&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;2.182&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;(1.309)&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;873&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;2.181&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: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;(507)&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;1.674&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:8pt;color:#000000;' &gt;2.172&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;-&lt;/font&gt;&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;(210)&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;1.962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Foreign companies shares&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;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align: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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;121&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;136&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;87&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;(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;213&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:8pt;color:#000000;' &gt;90&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;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: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;121&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;The United States&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:56,25pt;text-align: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:45,75pt;text-align: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: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;30&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;47&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:45,75pt;text-align: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:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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;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;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: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;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;Mexico&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;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;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:45,75pt;text-align: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;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&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;33&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:45,75pt;text-align: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;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:8pt;color:#000000;' &gt;1&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;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: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;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;Turkey&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:56,25pt;text-align: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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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: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;3&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;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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;-&lt;/font&gt;&lt;/td&gt;&lt;td 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:45,75pt;text-align: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;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;Other countries&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;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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&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;102&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;5&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;(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;96&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:8pt;color:#000000;' &gt;66&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;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:11,25pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &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:54pt;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;2.282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;(1.326)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;995&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;2.317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;(518)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;1.886&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2.262&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53,25pt;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;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;(222)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;2.083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Equity instruments&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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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:8pt;font-weight:bold;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:8pt;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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:8pt;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;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: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:8pt;color:#000000;' &gt;Spanish companies shares&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;5&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&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: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: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;5&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;1&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: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: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:8pt;color:#000000;' &gt;6&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: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: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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Foreign companies shares &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;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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:45,75pt;text-align: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: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;450&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;79&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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;528&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:8pt;color:#000000;' &gt;453&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;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: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;506&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;The United States&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;td style='width:56,25pt;text-align: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:45,75pt;text-align: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: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;387&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;32&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:45,75pt;text-align: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:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;388&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;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: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;411&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;Turkey&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;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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:45,75pt;text-align: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: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;5&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&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:45,75pt;text-align: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:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;Other countries&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;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;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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:45,75pt;text-align: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: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;57&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;43&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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99&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: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;27&lt;/font&gt;&lt;/td&gt;&lt;td 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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &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:54pt;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;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;105&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;80&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;533&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53,25pt;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;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;513&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &gt;&lt;font 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;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;2.344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;(1.327)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;1.100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;2.772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;(519)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;2.420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2.721&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53,25pt;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;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;(223)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;2.595&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:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;13.3. &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: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;Debt securities&amp;#8221; of the accompanying consolidated financial statements as of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;December 31, 2020, 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:11,25pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:724,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:724,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Financial assets at fair value through other comprehensive income. Debt securities (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:192,75pt;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:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:198pt;' &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:198,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:198,75pt;' &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:22,5pt;' &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:8pt;font-weight:bold;color:#0066CC;' &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;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: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;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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;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: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;Amortized      cost &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;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: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;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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;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: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;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: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;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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;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: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:8pt;font-weight:bold;color:#004481;' &gt;Domestic debt securities&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:#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:#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;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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;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: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:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;td style='width:49,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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:22,5pt;' &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:8pt;color:#000000;' &gt;Government and other government agency debt securities&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;28.582&lt;/font&gt;&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;801&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;(16)&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;29.367&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;20.740&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;830&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;(20)&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;21.550&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;17.205&lt;/font&gt;&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;661&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;(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;17.857&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Credit institutions&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;1.363&lt;/font&gt;&lt;/td&gt;&lt;td 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;76&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.439&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;959&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;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;793&lt;/font&gt;&lt;/td&gt;&lt;td 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;63&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;855&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Other issuers&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;867&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;906&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;907&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;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;804&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:11,25pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &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:48,75pt;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;30.811&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;917&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;31.712&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;22.607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;935&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;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;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;23.521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;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;18.802&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;19.553&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Foreign debt securities&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;font-weight:bold;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;font-weight:bold;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:8pt;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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-weight:bold;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;font-weight:bold;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-weight:bold;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;font-weight:bold;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-weight:bold;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;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: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:8pt;font-weight:bold;color:#004481;' &gt;Mexico&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:#002060;' &gt;9.107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#002060;' &gt;291&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:#002060;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#002060;' &gt;9.395&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:#002060;' &gt;7.790&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:#002060;' &gt;22&lt;/font&gt;&lt;/td&gt;&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:#002060;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#002060;' &gt;7.786&lt;/font&gt;&lt;/td&gt;&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:#002060;' &gt;6.299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#002060;' &gt;6&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:#002060;' &gt;(142)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#002060;' &gt;6.163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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:8pt;color:#000000;' &gt;Government and other government agency debt securities&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;8.309&lt;/font&gt;&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;271&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;(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;8.579&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;6.869&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;18&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;(19)&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;6.868&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;5.286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color: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: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;(121)&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;5.169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Credit institutions&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;113&lt;/font&gt;&lt;/td&gt;&lt;td 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&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;118&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;77&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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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: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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:11,25pt;' &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:8pt;color:#000000;' &gt;Other issuers&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;685&lt;/font&gt;&lt;/td&gt;&lt;td 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;15&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;(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;698&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;843&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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;978&lt;/font&gt;&lt;/td&gt;&lt;td 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: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;(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;961&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;The United States&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;font-weight:bold;color:#002060;' &gt;4.642&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;font-weight:bold;color:#002060;' &gt;52&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;font-weight:bold;color:#002060;' &gt;(3)&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-weight:bold;color:#002060;' &gt;4.691&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;font-weight:bold;color:#002060;' &gt;11.376&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;font-weight:bold;color:#002060;' &gt;68&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-weight:bold;color:#002060;' &gt;(51)&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-weight:bold;color:#002060;' &gt;11.393&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-weight:bold;color:#002060;' &gt;14.507&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;font-weight:bold;color:#002060;' &gt;47&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-weight:bold;color:#002060;' &gt;(217)&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-weight:bold;color:#002060;' &gt;14.338&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;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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: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;2.307&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&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;(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;2.315&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;8.570&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;42&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;(12)&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;8.599&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;11.227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&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;(135)&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;11.130&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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:8pt;color:#808080;' &gt;Treasury and other government agencies&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:#808080;' &gt;2.307&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;9&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:#808080;' &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:#808080;' &gt;2.315&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:#808080;' &gt;5.595&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:#808080;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;5.624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;7.285&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;29&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:#808080;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;7.258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#808080;' &gt;States and political subdivisions &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:#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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &gt;2.975&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:#808080;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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:#808080;' &gt;2.975&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;3.942&lt;/font&gt;&lt;/td&gt;&lt;td 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:#808080;' &gt;8&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:#808080;' &gt;(79)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;3.872&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Credit institutions&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;186&lt;/font&gt;&lt;/td&gt;&lt;td 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: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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&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;122&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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td 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: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:45,75pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Other issuers&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;2.149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&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;(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;2.187&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;2.684&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;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.670&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.231&lt;/font&gt;&lt;/td&gt;&lt;td 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;9&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;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Turkey&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;font-weight:bold;color:#002060;' &gt;3.456&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;font-weight:bold;color:#002060;' &gt;90&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;font-weight:bold;color:#002060;' &gt;(73)&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-weight:bold;color:#002060;' &gt;3.473&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;font-weight:bold;color:#002060;' &gt;3.752&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;font-weight:bold;color:#002060;' &gt;38&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-weight:bold;color:#002060;' &gt;(76)&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-weight:bold;color:#002060;' &gt;3.713&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-weight:bold;color:#002060;' &gt;4.164&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;font-weight:bold;color:#002060;' &gt;20&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-weight:bold;color:#002060;' &gt;(269)&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-weight:bold;color:#002060;' &gt;3.916&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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:8pt;color:#000000;' &gt;Government and other government agency debt securities&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;3.456&lt;/font&gt;&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;90&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;(73)&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;3.473&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;3.752&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;38&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;(76)&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;3.713&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;4.007&lt;/font&gt;&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;20&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;(256)&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;3.771&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Credit institutions&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: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: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:45,75pt;text-align: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: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: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;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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: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;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Other countries&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;font-weight:bold;color:#002060;' &gt;18.340&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;font-weight:bold;color:#002060;' &gt;739&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;font-weight:bold;color:#002060;' &gt;(42)&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-weight:bold;color:#002060;' &gt;19.037&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;font-weight:bold;color:#002060;' &gt;11.870&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;font-weight:bold;color:#002060;' &gt;554&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-weight:bold;color:#002060;' &gt;(106)&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-weight:bold;color:#002060;' &gt;12.318&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-weight:bold;color:#002060;' &gt;9.551&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;font-weight:bold;color:#002060;' &gt;319&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-weight:bold;color:#002060;' &gt;(130)&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-weight:bold;color:#002060;' &gt;9.740&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33,75pt;' &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:8pt;color:#000000;' &gt;Other foreign governments and other government agency debt securities&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;10.458&lt;/font&gt;&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;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:Black;min-width:47,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;10.943&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;6.963&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;383&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;(78)&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;7.269&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;4.510&lt;/font&gt;&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;173&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;(82)&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;4.601&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Central banks&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;1.599&lt;/font&gt;&lt;/td&gt;&lt;td 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;21&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;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.611&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;1.005&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;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size: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;1.010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;987&lt;/font&gt;&lt;/td&gt;&lt;td 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: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;(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;986&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Credit institutions&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;2.521&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:8pt;color:#000000;' &gt;116&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;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.629&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;1.795&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;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(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;1.892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.856&lt;/font&gt;&lt;/td&gt;&lt;td 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;111&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;(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;1.947&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Other issuers&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;3.762&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.854&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;2.106&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;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(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;2.147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.197&lt;/font&gt;&lt;/td&gt;&lt;td 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;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;(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;2.206&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &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:48,75pt;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;35.545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;1.172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;(120)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;36.596&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;34.788&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;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;(259)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;35.210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;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;34.521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;(758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;34.157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &gt;&lt;font 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;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;66.356&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;2.089&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;(137)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;68.308&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;57.395&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;1.617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;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;(280)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;58.731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;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;53.323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;1.153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;(768)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;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 credit ratings of the issuers of debt securities as of December 31,&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;,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 2019&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;d 2018&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:22,5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:561pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:561pt;' &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;text-align:left;vertical-align:bottom;border-color:Black;min-width:129,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' 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:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:140,25pt;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:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:140,25pt;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:#072146;' &gt;2018&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:100,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &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:50,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:90,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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: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;%&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;border-color:Black;min-width:91,5pt;' &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: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;/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:100,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.345&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,2%&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;531&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;1,0%&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:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;13.100&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;24,4%&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;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;449&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &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:91,5pt;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;222&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;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;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &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:91,5pt;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;409&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;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;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.912&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;632&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;1,2%&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;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &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:91,5pt;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;687&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;1,3%&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:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31.614&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;18.426&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;34,3%&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:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.629&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;9.195&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;17,1%&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:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;4.607&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;8,6%&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:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;1.003&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;1,9%&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:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &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:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;4.453&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;8,3%&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:9pt;color:#000000;' &gt;Unclassified&lt;/font&gt;&lt;/td&gt;&lt;td style='width:100,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;345&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0,5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:90,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49,5pt;' &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:91,5pt;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;445&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;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;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:100,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:100,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;68.308&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;100,0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:90,75pt;' &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:49,5pt;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;100,0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91,5pt;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;53.709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;13.4. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;in December 31&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 2020, 2019 and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of debt securities &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;under the equity heading &amp;#8220;Accumulated other comprehensive income (loss) &amp;#8211; Items that may be reclassified to profit or loss &amp;#8211; Fair value changes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of debt instruments measured at fair value through other comprehensive income&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and equity instruments&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; recognized under the equity heading&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &amp;#8220;Accumulated other comprehensive income &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(loss) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8211; Items &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;that will not be reclassified to profit 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;&amp;#8211;&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;air value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ch&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;anges &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;equity instruments measur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed at fair value through other comprehensive income&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:11,25pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:633,75pt;text-align:left;vertical-align:top;background-color:#E9E9E9;border-color:Black;min-width:633,75pt;' &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:11,25pt;' &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;&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;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:180pt;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:8pt;font-weight:bold;color:#072146;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:180pt;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:8pt;font-weight:bold;color:#072146;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:center;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;Notes&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;font-weight:bold;color:#072146;' &gt;2020&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;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;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;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;2020&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;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;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;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:213,75pt;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:60pt;text-align:center;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;1.760&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;1.557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;(403)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;(155)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;84&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Effect of changes in accounting policies (IFRS 9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:center;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;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;text-align:right;vertical-align:middle;background-color:#C0C0C0;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;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;(58)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;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;text-align:right;vertical-align:middle;background-color:#C0C0C0;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;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;(40)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Valuation gains and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:center;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004FA4;' &gt;&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;489&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;1.267&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;(640)&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;(876)&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;(238)&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;(174)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Amounts transferred to income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:center;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004FA4;' &gt;&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;(72)&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;(119)&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;(137)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;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;text-align:right;vertical-align:middle;background-color:#C0C0C0;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;text-align:right;vertical-align:middle;background-color:#C0C0C0;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:11,25pt;' &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;Income tax and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:center;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004FA4;' &gt;&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;(107)&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;(331)&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;221&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;23&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;(10)&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;(25)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:213,75pt;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:60pt;text-align:center;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;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;2.069&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;1.760&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;(1.256)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;(403)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;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;(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:left;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In 2020, the debt securities impaired recognized in the heading &amp;#8220;Impairment or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification&amp;#8211; Financial assets at fair value through other comprehensive income&amp;#8221; in the accompanying consolidated income statement amounted to &amp;#8364;19 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;million (see Note 47).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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, the debt securities impaired recognized in the heading &amp;#8220;Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification&amp;#8211; Financial assets at fair value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;through other comprehensive income&amp;#8221; in the accompanying consolidated income statement amounted to &amp;#8364;82 million (see Note 47) as a result of the decrease in the rating of debt securities in 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 securit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ies impaired recognized in the heading &amp;#8220;Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &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;net gains by modification&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8211; Financial assets at fair value through other comprehensive income&amp;#8221; in the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;accompanying consolidated income statement amounted to &amp;#8364;1 million (see Note 47).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 2020, equity securities presented a decrease of 876 million euros in the heading &amp;#8220;Gains and losses from valuation - Accumulated other comprehensive income - Items that will&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; not be reclassified to profit and loss - Fair value changes of equity instruments measured at fair value through other comprehensive income&amp;#8221;, mainly due to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;' &gt;Telef&amp;#243;nica&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; quotation.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 2020, 2019 and 2018 there has been no significant impairment recor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ded 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 or net gains by modification- Financial assets at fair value through other comprehensive income&amp;#8221; (see No&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;te 47).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofavailableforsalefinancialassetsthroughtothertcomprehensiveincomeexplanatory>
  <bbva:Disclosureoffinancialassetsatamortisedcost id="ID_10539" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;14. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;14.1. &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 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:10,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:399,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:399,75pt;' &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:21pt;' &gt;&lt;td 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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:8,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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: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;2020&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;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:8,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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: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;35.737&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;38.877&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;32.530&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government&lt;/font&gt;&lt;/td&gt;&lt;td style='width:8,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;28.727&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;31.526&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;25.014&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;783&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;719&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;644&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;5.027&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;5.254&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;5.421&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;1.200&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;1.379&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;1.451&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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: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;6.209&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;4.275&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;3.941&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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: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;14.575&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;13.649&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;9.163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;1.914&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;1.817&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;478&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;12.661&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;11.832&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;8.685&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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: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;311.147&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;382.360&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;374.027&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government&lt;/font&gt;&lt;/td&gt;&lt;td style='width:8,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;19.391&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;28.222&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;28.114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;9.817&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;11.207&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;9.468&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;136.424&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;166.789&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;163.922&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:234pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:8,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &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;145.515&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;176.142&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;172.522&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:8,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:8,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8.1&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;367.668&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;439.162&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;419.660&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &gt;&lt;td style='width:234pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;font-style:italic;color:#808080;' &gt;14.672&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;font-style:italic;color:#808080;' &gt;15.954&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;font-style:italic;color:#808080;' &gt;16.349&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &gt;&lt;td style='width:234pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:#808080;' &gt;(12.141)&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:#808080;' &gt;(12.427)&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:#808080;' &gt;(12.217)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11pt;' &gt;&lt;td style='width:234pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234pt;' &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:8,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:8,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:#808080;' &gt;(48)&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:#808080;' &gt;(52)&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:#808080;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;See Note 7.2&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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;See Note 35.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(***)      Amount in 2020 is mainly due to the stake in BBVA USA (see Note 21).&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 financial years 2020, 2019 and 2018, there have been no significant reclassifications &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;14.2. Debt securities&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;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 balance under the heading &amp;#8220;Debt securities&amp;#8221; in the accompanying consolidated bala&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nce 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='13' rowspan='1' style='width:756,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:756,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Financial assets at amortized cost: Debt securities. (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:216pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:216pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:216pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:216pt;' &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:216pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:216pt;' &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:28,5pt;' &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:8pt;font-weight:bold;color:#0066CC;' &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;border-color:Black;min-width:54pt;' &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: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: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: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: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: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: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: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:6pt;font-weight:bold;color:#072146;' &gt;Amortized      cost &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: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: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: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: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: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: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:6pt;font-weight:bold;color:#072146;' &gt;Amortized      cost &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: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: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: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: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: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:11,25pt;' &gt;&lt;td style='width:108,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &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: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:#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;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;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;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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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;border-color:Black;min-width:54pt;' &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: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:8pt;color:#000000;' &gt;Government and other government agencies&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:6pt;color:#000000;' &gt;13.656&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:6pt;color:#000000;' &gt;1.212&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:6pt;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:6pt;color:#000000;' &gt;14.868&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:6pt;color:#000000;' &gt;12.755&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:6pt;color:#000000;' &gt;630&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:6pt;color:#000000;' &gt;(21)&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:6pt;color:#000000;' &gt;13.363&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:6pt;color:#000000;' &gt;10.953&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:6pt;color:#000000;' &gt;458&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:6pt;color:#000000;' &gt;(265)&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:6pt;color:#000000;' &gt;11.146&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;color:#000000;' &gt;26&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;26&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:6pt;color:#000000;' &gt;53&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&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:6pt;color:#000000;' &gt;4.835&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:6pt;color:#000000;' &gt;59&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:6pt;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:6pt;color:#000000;' &gt;4.887&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:6pt;color:#000000;' &gt;4.903&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:6pt;color:#000000;' &gt;38&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:6pt;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:6pt;color:#000000;' &gt;4.931&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:6pt;color:#000000;' &gt;5.014&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:6pt;color:#000000;' &gt;41&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:6pt;color:#000000;' &gt;(25)&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:6pt;color:#000000;' &gt;5.030&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18.492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1.271&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;19.756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;17.684&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18.320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;16.019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(290)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;16.228&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Foreign debt securities&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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;font-weight:bold;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:6pt;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: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:8pt;font-weight:bold;color:#004481;' &gt;Mexico&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:6pt;font-weight:bold;color:#002060;' &gt;7.771&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:6pt;font-weight:bold;color:#002060;' &gt;534&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:6pt;font-weight:bold;color:#002060;' &gt;(16)&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:6pt;font-weight:bold;color:#002060;' &gt;8.289&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:6pt;font-weight:bold;color:#002060;' &gt;6.374&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:6pt;font-weight:bold;color:#002060;' &gt;168&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:6pt;font-weight:bold;color:#002060;' &gt;(18)&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:6pt;font-weight:bold;color:#002060;' &gt;6.525&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:6pt;font-weight:bold;color:#002060;' &gt;5.148&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:6pt;font-weight:bold;color:#002060;' &gt;10&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:6pt;font-weight:bold;color:#002060;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;5.157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33,75pt;' &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:8pt;color:#000000;' &gt;Government and other government agencies debt securities&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:6pt;color:#000000;' &gt;6.963&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:6pt;color:#000000;' &gt;479&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:6pt;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:6pt;color:#000000;' &gt;7.442&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:6pt;color:#000000;' &gt;5.576&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:6pt;color:#000000;' &gt;166&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:6pt;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:6pt;color:#000000;' &gt;5.742&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:6pt;color:#000000;' &gt;4.571&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:6pt;color:#000000;' &gt;9&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:6pt;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:6pt;color:#000000;' &gt;4.579&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&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:6pt;color:#000000;' &gt;632&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:6pt;color:#000000;' &gt;55&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:6pt;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:6pt;color:#000000;' &gt;687&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:6pt;color:#000000;' &gt;526&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;529&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:6pt;color:#000000;' &gt;350&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:6pt;color:#000000;' &gt;1&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:6pt;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:6pt;color:#000000;' &gt;351&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&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:6pt;color:#000000;' &gt;176&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:6pt;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:6pt;color:#000000;' &gt;(16)&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:6pt;color:#000000;' &gt;160&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:6pt;color:#000000;' &gt;272&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:6pt;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:6pt;color:#000000;' &gt;(18)&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:6pt;color:#000000;' &gt;254&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:6pt;color:#000000;' &gt;227&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;The United States&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:6pt;font-weight:bold;color:#002060;' &gt;52&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:6pt;font-weight:bold;color:#002060;' &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:6pt;font-weight:bold;color:#002060;' &gt;(26)&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:6pt;font-weight:bold;color:#002060;' &gt;26&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:6pt;font-weight:bold;color:#002060;' &gt;6.125&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:6pt;font-weight:bold;color:#002060;' &gt;111&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:6pt;font-weight:bold;color:#002060;' &gt;(20)&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:6pt;font-weight:bold;color:#002060;' &gt;6.217&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:6pt;font-weight:bold;color:#002060;' &gt;2.559&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:6pt;font-weight:bold;color:#002060;' &gt;15&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:6pt;font-weight:bold;color:#002060;' &gt;(3)&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:6pt;font-weight:bold;color:#002060;' &gt;2.570&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Government securities &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:6pt;color:#000000;' &gt;14&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;14&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:6pt;color:#000000;' &gt;5.690&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:6pt;color:#000000;' &gt;111&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:6pt;color:#000000;' &gt;(18)&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:6pt;color:#000000;' &gt;5.783&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:6pt;color:#000000;' &gt;2.070&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:6pt;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:6pt;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:6pt;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:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &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:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;14&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:6pt;color:#808080;' &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:6pt;color:#808080;' &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:6pt;color:#808080;' &gt;14&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:6pt;color:#808080;' &gt;1.161&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:6pt;color:#808080;' &gt;50&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:6pt;color:#808080;' &gt;(17)&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:6pt;color:#808080;' &gt;1.193&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:6pt;color:#808080;' &gt;118&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:6pt;color:#808080;' &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:6pt;color:#808080;' &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:6pt;color:#808080;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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:8pt;color:#808080;' &gt;States and political subdivisions &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:6pt;color:#808080;' &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:6pt;color:#808080;' &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:6pt;color:#808080;' &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:6pt;color:#808080;' &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:6pt;color:#808080;' &gt;4.530&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:6pt;color:#808080;' &gt;61&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:6pt;color:#808080;' &gt;(1)&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:6pt;color:#808080;' &gt;4.590&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:6pt;color:#808080;' &gt;1.952&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:6pt;color:#808080;' &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:6pt;color:#808080;' &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:6pt;color:#808080;' &gt;1.952&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&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:6pt;color:#000000;' &gt;23&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:6pt;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:6pt;color:#000000;' &gt;(16)&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:6pt;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:6pt;color:#000000;' &gt;25&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:6pt;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:6pt;color:#000000;' &gt;(1)&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:6pt;color:#000000;' &gt;25&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:6pt;color:#000000;' &gt;23&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:6pt;color:#000000;' &gt;9&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:6pt;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:6pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&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:6pt;color:#000000;' &gt;15&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:6pt;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:6pt;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:6pt;color:#000000;' &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:6pt;color:#000000;' &gt;410&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:6pt;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:6pt;color:#000000;' &gt;(1)&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:6pt;color:#000000;' &gt;409&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:6pt;color:#000000;' &gt;466&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:6pt;color:#000000;' &gt;6&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:6pt;color:#000000;' &gt;(1)&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:6pt;color:#000000;' &gt;470&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Turkey&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:6pt;font-weight:bold;color:#002060;' &gt;3.628&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:6pt;font-weight:bold;color:#002060;' &gt;95&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:6pt;font-weight:bold;color:#002060;' &gt;(25)&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:6pt;font-weight:bold;color:#002060;' &gt;3.698&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:6pt;font-weight:bold;color:#002060;' &gt;4.113&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:6pt;font-weight:bold;color:#002060;' &gt;48&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:6pt;font-weight:bold;color:#002060;' &gt;(65)&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:6pt;font-weight:bold;color:#002060;' &gt;4.097&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:6pt;font-weight:bold;color:#002060;' &gt;4.062&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:6pt;font-weight:bold;color:#002060;' &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:6pt;font-weight:bold;color:#002060;' &gt;(261)&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:6pt;font-weight:bold;color:#002060;' &gt;3.801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33,75pt;' &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:8pt;color:#000000;' &gt;Government and other government agencies debt securities&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:6pt;color:#000000;' &gt;3.621&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:6pt;color:#000000;' &gt;95&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:6pt;color:#000000;' &gt;(25)&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:6pt;color:#000000;' &gt;3.691&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:6pt;color:#000000;' &gt;4.105&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:6pt;color:#000000;' &gt;47&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:6pt;color:#000000;' &gt;(65)&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:6pt;color:#000000;' &gt;4.088&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:6pt;color:#000000;' &gt;4.054&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:6pt;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:6pt;color:#000000;' &gt;(261)&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:6pt;color:#000000;' &gt;3.793&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&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:6pt;color:#000000;' &gt;6&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;6&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:6pt;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:6pt;color:#000000;' &gt;1&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:6pt;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:6pt;color:#000000;' &gt;8&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:6pt;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:6pt;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:6pt;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:6pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&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:6pt;color:#000000;' &gt;1&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;1&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:6pt;color:#000000;' &gt;1&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;1&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:6pt;color:#000000;' &gt;1&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other countries&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:6pt;font-weight:bold;color:#002060;' &gt;5.795&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:6pt;font-weight:bold;color:#002060;' &gt;505&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:6pt;font-weight:bold;color:#002060;' &gt;(1)&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:6pt;font-weight:bold;color:#002060;' &gt;6.299&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:6pt;font-weight:bold;color:#002060;' &gt;4.581&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:6pt;font-weight:bold;color:#002060;' &gt;82&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:6pt;font-weight:bold;color:#002060;' &gt;(26)&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:6pt;font-weight:bold;color:#002060;' &gt;4.637&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:6pt;font-weight:bold;color:#002060;' &gt;4.741&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:6pt;font-weight:bold;color:#002060;' &gt;32&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:6pt;font-weight:bold;color:#002060;' &gt;(152)&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:6pt;font-weight:bold;color:#002060;' &gt;4.622&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33,75pt;' &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:8pt;color:#000000;' &gt;Other foreign governments and other government agency debt securities&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:6pt;color:#000000;' &gt;4.473&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:6pt;color:#000000;' &gt;467&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:6pt;color:#000000;' &gt;(1)&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:6pt;color:#000000;' &gt;4.939&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:6pt;color:#000000;' &gt;3.400&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:6pt;color:#000000;' &gt;82&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:6pt;color:#000000;' &gt;(22)&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:6pt;color:#000000;' &gt;3.459&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:6pt;color:#000000;' &gt;3.366&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:6pt;color:#000000;' &gt;27&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:6pt;color:#000000;' &gt;(152)&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:6pt;color:#000000;' &gt;3.242&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Central banks&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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;color:#000000;' &gt;64&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&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:6pt;color:#000000;' &gt;122&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;122&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:6pt;color:#000000;' &gt;135&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;135&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:6pt;color:#000000;' &gt;147&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:6pt;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:6pt;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:6pt;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&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:6pt;color:#000000;' &gt;1.200&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:6pt;color:#000000;' &gt;38&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:6pt;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:6pt;color:#000000;' &gt;1.238&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:6pt;color:#000000;' &gt;1.047&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:6pt;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:6pt;color:#000000;' &gt;(4)&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:6pt;color:#000000;' &gt;1.043&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:6pt;color:#000000;' &gt;1.164&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:6pt;color:#000000;' &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:6pt;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:6pt;color:#000000;' &gt;1.169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;17.245&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1.134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18.311&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;21.194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(129)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;21.476&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;16.510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(416)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;16.150&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:108,75pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;35.737&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2.405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(75)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;38.067&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;38.877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1.077&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;39.796&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;32.530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;556&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(706)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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, 2020, 2019 and 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='7' rowspan='1' style='width:527,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:527,25pt;' &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;text-align:left;vertical-align:bottom;border-color:Black;min-width:171,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:118,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:118,5pt;' &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 colspan='2' rowspan='1' style='width:118,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:118,5pt;' &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:118,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:118,5pt;' &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: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;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: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;%&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;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: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;%&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;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: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;%&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:8pt;color:#000000;' &gt;AAA&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;151&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;0,4%&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;39&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;0,1%&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;49&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;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: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;74&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;0,2%&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;6.481&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;16,7%&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;1.969&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:#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: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;64&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;0,2%&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;14&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;62&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;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: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;48&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;0,1%&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;713&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;1,8%&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: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: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&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;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;607&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;1,9%&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: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;590&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;1,7%&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;16.806&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;43,2%&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;21&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;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:8pt;color:#000000;' &gt;A-&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;16.736&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:#000000;' &gt;46,8%&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;607&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;1,6%&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;6.117&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;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: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;7.919&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;22,2%&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;3.715&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;9,6%&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;13.894&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;42,7%&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: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;942&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;2,6%&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;551&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;1,4%&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;1.623&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;5,0%&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: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;4.499&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;12,6%&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;3.745&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;9,6%&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;2.694&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;8,3%&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: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;3.928&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;11,0%&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;5.123&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;13,2%&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;4.371&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;13,4%&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;Unclassified&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;743&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;2,1%&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;1.083&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;2,8%&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;1.123&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;3,5%&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;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:59,25pt;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;35.737&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;100,0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;38.877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;100,0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;32.530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;14.3. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Loans &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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 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:13pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:435,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:435,75pt;' &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:21pt;' &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-weight:bold;color:#44546A;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: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;2.835&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;3.050&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;3.641&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: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;13.093&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;16.354&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;15.445&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: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;15.544&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.436&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: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;7.650&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.650&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: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;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;294&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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: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;267.031&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;332.160&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;324.767&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.924&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.794&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:240pt;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:65,25pt;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;311.147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;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;382.360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;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;374.027&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;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 an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d advances to customers&amp;#8221; in the accompanying consolidated balance sheets also includes certain secured loans that, as pursuant to the Mortgage Market Act, are linked to long-term mortgage covered bonds.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The following table sets forth a breakdown of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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, 2020:&lt;/font&gt;&lt;/p&gt;&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='7' rowspan='1' style='width:588pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:588pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;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:11,25pt;' &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:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:216pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:216pt;' &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 colspan='3' rowspan='1' style='width:216pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:216pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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: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;Domestic&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;Foreign&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;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;border-color:Black;min-width:72pt;' &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: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;Foreign&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;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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: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;46.104&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;66.444&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;112.548&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;55.920&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;68.915&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;124.835&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Variable rate&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;86.710&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;41.452&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;128.162&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;79.329&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;97.765&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;177.095&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:156pt;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:72pt;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;132.814&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;107.895&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;240.710&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;135.249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;166.680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;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;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, 2020, 2019 and 2018, 47%, 41% and 38%, respectively, of &amp;quot;Loans and a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dvances to customers&amp;quot; with maturity greater than one year have fixed-interest rates and 53%, 59% and 62%, respectively, have variable interest rates.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;This heading also includes some loans that have been securitized. The balances recognized in the accompany&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ing 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:20,25pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:477pt;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-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-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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;23.953&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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:245,25pt;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;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;6.144&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;4.249&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;3.221&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &gt;&lt;td style='width:245,25pt;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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77,25pt;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;30.098&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77,25pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoffinancialassetsatamortisedcost>
  <bbva:Disclosureofhedgingderivativesandfairvaluechangesofthehedgeditemsinportfoliohedgeofinterestrateriskexplanatory id="ID_10540" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &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:23,25pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:486,75pt;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;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:21pt;' &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-weight:bold;color:#44546A;' &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-weight:bold;color:#44546A;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:276,75pt;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;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;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;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;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;/tr&gt;&lt;tr style='height:11,25pt;' &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;Derivatives - Hedge accounting&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:#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:8pt;color:#000000;' &gt;1.991&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;1.729&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;2.892&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;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:8pt;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:8pt;color:#000000;' &gt;51&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;28&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276,75pt;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;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;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;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;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;/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;Hedging derivatives&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:#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:8pt;color:#000000;' &gt;2.318&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;2.233&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;2.680&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: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, 2020, 2019 and 2018, 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: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;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: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;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;color:#000000;' &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: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;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 an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;d 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 consolidate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d 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:12,75pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:477,75pt;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:12,75pt;' &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:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:102pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:102pt;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-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;/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;989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;525&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/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;989&lt;/font&gt;&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;525&lt;/font&gt;&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;/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;font-weight:bold;color:#004481;' &gt;Equity&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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &gt;3&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;font-weight:bold;color:#004481;' &gt;6&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;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;-&lt;/font&gt;&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;/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;font-weight:bold;color:#004481;' &gt;Foreign exchange and gold&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;font-weight:bold;color:#004481;' &gt;435&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;font-weight:bold;color:#004481;' &gt;350&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;font-weight:bold;color:#004481;' &gt;420&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;font-weight:bold;color:#004481;' &gt;316&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;font-weight:bold;color:#004481;' &gt;587&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;font-weight:bold;color:#004481;' &gt;398&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;435&lt;/font&gt;&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;350&lt;/font&gt;&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;/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;1.424&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;874&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/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;154&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1.055&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/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;154&lt;/font&gt;&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;1.041&lt;/font&gt;&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;/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;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: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;/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;225&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;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;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;/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;225&lt;/font&gt;&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;50&lt;/font&gt;&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;/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;color:#000000;' &gt;Organized market&lt;/font&gt;&lt;/td&gt;&lt;td 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;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: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;/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;379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;1.111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/tr&gt;&lt;tr style='height:22,5pt;' &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;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;166&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;139&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/tr&gt;&lt;tr style='height:22,5pt;' &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;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;170&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/tr&gt;&lt;tr style='height:22,5pt;' &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 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;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;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;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;/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;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;1.991&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;2.318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;/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;1.718&lt;/font&gt;&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;1.965&lt;/font&gt;&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;/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;273&lt;/font&gt;&lt;/td&gt;&lt;td 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;333&lt;/font&gt;&lt;/td&gt;&lt;td 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;/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;-&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&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 there is a breakdown of the items covered by fair value hedges:&lt;/font&gt;&lt;/p&gt;&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:701,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:701,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Hedged items in fair value hedges. December 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:67,5pt;' &gt;&lt;td style='width:328,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;Carrying amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;Hedge adjustments included in the carrying amount of assets/liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Remaining adjustments for discontinued micro hedges including hedges of net positions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;Hedged items in portfolio hedge of interest rate risk&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:328,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &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:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &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:109,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:109,5pt;' &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:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &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;tr style='height:12,75pt;' &gt;&lt;td style='width:328,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial assets measured at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;28.091&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;(99)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:328,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;28.059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &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:328,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &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:328,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial assets measured at amortized cost&lt;/font&gt;&lt;/td&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:#004481;' &gt;11.177&lt;/font&gt;&lt;/td&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:#004481;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&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:#004481;' &gt;2.500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:328,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;11.177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &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:328,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &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:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &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:109,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:109,5pt;' &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:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &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;tr style='height:12,75pt;' &gt;&lt;td style='width:328,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial liabilities measured at amortized costs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;23.546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;(576)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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:#004481;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:328,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;23.543&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &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:328,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:328,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:109,5pt;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:109,5pt;' &gt;&lt;font style='font-family:ARIAL;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#999999;border-color:Black;min-width:87,75pt;' &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:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The following is the calendar of the notional maturities of the hedging instruments as of December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020:&lt;/font&gt;&lt;/p&gt;&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:510,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:510,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#5AC4C4;' &gt;Calendar of the notional maturities of the hedging instruments (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &gt;&lt;td style='width:240,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:240,75pt;' &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: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;font-weight:bold;color:#072146;' &gt;Up to 3 months&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;font-weight:bold;color:#072146;' &gt;From 3 months to 1 year&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;font-weight:bold;color:#072146;' &gt;From 1 to 5 years&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;font-weight:bold;color:#072146;' &gt;More than 5 years&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;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:240,75pt;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:240,75pt;' &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: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:#004481;' &gt;3.581&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:#004481;' &gt;10.945&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:#004481;' &gt;28.487&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:#004481;' &gt;18.656&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:#004481;' &gt;61.668&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;Of which: Interest rate&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;color:#000000;' &gt;3.569&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;color:#000000;' &gt;10.879&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;color:#000000;' &gt;26.946&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;color:#000000;' &gt;18.609&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;color:#000000;' &gt;60.003&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &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: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:#004481;' &gt;10.495&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:#004481;' &gt;2.808&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:#004481;' &gt;2.576&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:#004481;' &gt;6.972&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:#004481;' &gt;22.852&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;Of which: Interest rate&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;color:#000000;' &gt;6.756&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;color:#000000;' &gt;154&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;color:#000000;' &gt;1.816&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;color:#000000;' &gt;6.600&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;color:#000000;' &gt;15.326&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &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: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:#004481;' &gt;1.853&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:#004481;' &gt;2.910&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:#004481;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;4.763&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &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: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:#004481;' &gt;299&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:#004481;' &gt;576&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:#004481;' &gt;1.533&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:#004481;' &gt;1.029&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:#004481;' &gt;3.437&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &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: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:#004481;' &gt;101&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:#004481;' &gt;11&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:#004481;' &gt;1.049&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:#004481;' &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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1.161&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:240,75pt;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:240,75pt;' &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: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:#004481;' &gt;15.933&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:#004481;' &gt;17.340&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:#004481;' &gt;33.984&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:#004481;' &gt;26.623&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;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;93.881&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In 2020, 2019 and 2018, 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). &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;derivatives designated as accounting hedges that did not pass the effecti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;veness test in December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019&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;2018 were not material.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofhedgingderivativesandfairvaluechangesofthehedgeditemsinportfoliohedgeofinterestrateriskexplanatory>
  <ifrs-full:Assets id="ID_10541" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">15066000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10542" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">324005000000</ifrs-full:Assets>
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  <ifrs-full:Assets id="ID_10544" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CounterpartiesbylevelsaxisAxis_bbva_CentralbanksMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10545" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CounterpartiesbylevelsaxisAxis_bbva_LoansandadvancestocreditinstitutionsMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1883000000</ifrs-full:Assets>
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  <ifrs-full:Assets id="ID_10549" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_CounterpartiesbylevelsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">9279000000</ifrs-full:Assets>
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  <ifrs-full:Assets id="ID_10551" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">217279000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10552" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">196119000000</ifrs-full:Assets>
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  <ifrs-full:Assets id="ID_10555" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CounterpartiesbylevelsaxisAxis_bbva_LoansandadvancestocreditinstitutionsMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">9049000000</ifrs-full:Assets>
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  <bbva:Disclosureofinvestmentsinsubsidiariesjointventuresandassociatesexplanatory id="ID_10571" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;16. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Investments in joint ventures and associates&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: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;16.1. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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 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:356,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:356,25pt;' &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:160,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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: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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:160,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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:160,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;77&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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;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;32&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;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;td style='width: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;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:160,5pt;' &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;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;149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;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;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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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-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-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-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:160,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;567&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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;285&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Allianz Seguros y Reaseguros, 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;250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:160,5pt;' &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;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;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:160,5pt;' &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;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;1.288&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;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;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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:160,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:160,5pt;' &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;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;1.437&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65,25pt;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;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;/tr&gt;&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;Details of the joint ventures and associates as of December 31, 2020 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, 2020, 2019 and 2018 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;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;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:54pt;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;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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;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;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;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;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;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;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;Acquisitions and capital increases&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;257&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;161&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;309&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;(47)&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;/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;(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;(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;/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;(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;/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;(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;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;/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;Dividends, valuation adjustments and others&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;(188)&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;(43)&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;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;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;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;1.437&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;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;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;/tr&gt;&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 the year 2020, the most significant changes in the heading &amp;#8220;Investments in joint ventures and associates&amp;#8221; correspond to the valuation of Metrovacesa and BBVA Allianz Seguros y Reaseguros, S.A.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Duri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ng the year 2019, there was no significant change in the heading &amp;#8220;Investment in joint ventures and associates&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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 Pro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;moci&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: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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;subsidiaries, joint ventures and associates, in compliance with article 155 of the Corporations Act and article 125 of the Securities Market Act 4/2015.&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;16.2. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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 ra&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ther 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.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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, 2020, 2019 and 2018 there was no financial support agreement or other contr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;actual 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). &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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, 2020, 2019 and 2018 there was no contingent liability in connection wi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;th 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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;16.3. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;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;As described in IAS 36, the book value of the associates and joint venture entities has been compared with their recoverable amount, being the latter calculated as the h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;igher between the value in use and the fair value minus the cost of sale. For the year ended December 31, 2020, &amp;#8364;158 million have been recorded in the Group&amp;#8217;s consolidated income statement due to impairment. For the year ended December 31, 2019, &amp;#8364;46 millio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n were recorded due to impairment. There were no impairments recognized in 2018 (see Note 48).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofinvestmentsinsubsidiariesjointventuresandassociatesexplanatory>
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  <bbva:Disclosureoftangibleassetsexplanatory id="ID_10608" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;17. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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:11,25pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:574,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:574,5pt;' &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 2020. (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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:135pt;text-align:center;vertical-align:middle;border-color:Black;min-width:135pt;' &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:90pt;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:6pt;font-weight:bold;color:#072146;' &gt;Right to use asset&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:11,25pt;' &gt;&lt;td colspan='1' rowspan='2' 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;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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 colspan='1' rowspan='2' style='width:45pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:45pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &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:11,25pt;' &gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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: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;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-top-style: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;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color: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;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-top-style: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;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color: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;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:11,25pt;' &gt;&lt;td style='width:187,5pt;border-top-style:solid;border-top-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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:27pt;' &gt;&lt;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;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;6.001&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;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;56&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;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;6.351&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;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;3.516&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;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;101&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;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;216&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;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;337&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;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;16.578&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;157&lt;/font&gt;&lt;/td&gt;&lt;td 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;54&lt;/font&gt;&lt;/td&gt;&lt;td 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;255&lt;/font&gt;&lt;/td&gt;&lt;td 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;183&lt;/font&gt;&lt;/td&gt;&lt;td 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;td 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;651&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(10)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(23)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(294)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(157)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(498)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Companies held for sale (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(925)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(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: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;(294)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(1.616)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(248)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(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;(60)&lt;/font&gt;&lt;/td&gt;&lt;td 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;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:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td 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;(272)&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:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(595)&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;(2)&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;(426)&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;(127)&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;(24)&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;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.166)&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;background-color:#5AC4C4;border-color:Black;min-width:187,5pt;' &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:27pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:27pt;' &gt;&lt;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;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;4.380&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;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;52&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;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;5.515&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;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;3.061&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;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;123&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;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;201&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;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;345&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;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;13.677&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Accrued depreciation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:right;vertical-align:middle;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;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;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;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;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;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;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;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;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:187,5pt;border-top-style:solid;border-top-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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:27pt;' &gt;&lt;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;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;1.253&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;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;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;4.344&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;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;370&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;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;11&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;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&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;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;74&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;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;6.067&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;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: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;312&lt;/font&gt;&lt;/td&gt;&lt;td 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;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:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;781&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Additions transfer to discontinued operations (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;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;-&lt;/font&gt;&lt;/td&gt;&lt;td 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;20&lt;/font&gt;&lt;/td&gt;&lt;td 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;-&lt;/font&gt;&lt;/td&gt;&lt;td 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;76&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;td 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;(248)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(10)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(260)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Companies held for sale (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(373)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(321)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(71)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(765)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(42)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(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:8pt;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: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;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td 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;(58)&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:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(110)&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;(294)&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;(42)&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;(3)&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;(21)&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;(470)&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;background-color:#5AC4C4;border-color:Black;min-width:187,5pt;' &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:27pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:27pt;' &gt;&lt;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;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;833&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;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;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;3.859&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;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;582&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;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;27&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;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&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;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;54&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;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;5.371&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:187,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;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;font-weight:bold;color:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;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:27pt;' &gt;&lt;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;212&lt;/font&gt;&lt;/td&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;-&lt;/font&gt;&lt;/td&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;191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45pt;' &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: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;26&lt;/font&gt;&lt;/td&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;443&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:187,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&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;18&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;26&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;68&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;12&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;1&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;125&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Companies held for sale (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td 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;(8)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(68)&lt;/font&gt;&lt;/td&gt;&lt;td 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;10&lt;/font&gt;&lt;/td&gt;&lt;td 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;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td 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;(51)&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:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &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;(5)&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;(26)&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;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&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;background-color:#5AC4C4;border-color:Black;min-width:187,5pt;' &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:27pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:27pt;' &gt;&lt;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;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;149&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;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;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;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;274&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;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;26&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;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;34&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;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;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;483&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;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: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;font-weight:bold;color:#004481;' &gt;Net tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;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: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;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;font-weight:bold;color:#FFFFFF;' &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;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: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;font-weight:bold;color:#004481;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;4.536&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &gt;2.007&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &gt;2.955&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &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:8pt;font-weight:bold;color:#094FA4;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &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:8pt;font-weight:bold;color:#094FA4;' &gt;10.068&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;font-weight:bold;color:#004481;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:27pt;text-align:center;vertical-align:middle;border-color:Black;min-width:27pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;3.398&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;1.656&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &gt;2.205&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;7.823&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)     &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Amount is mainly due to the stake in BBVA USA (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:12,75pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:525,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:525,75pt;' &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:12,75pt;' &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:#FF0000;' &gt;&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:8pt;color:#FF0000;' &gt;&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:8pt;color:#FF0000;' &gt;&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:8pt;color:#FF0000;' &gt;&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:8pt;color:#FF0000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Right to use asset &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:8pt;color:#FF0000;' &gt;&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:8pt;color:#FF0000;' &gt;&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:8pt;color:#FF0000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:161,25pt;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 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:6pt;color:#072146;' &gt;&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:6pt;font-weight:bold;color:#072146;' &gt;&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:6pt;font-weight:bold;color:#072146;' &gt;&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:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' 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:6pt;font-weight:bold;color:#072146;' &gt;Own use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' 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:6pt;font-weight:bold;color:#072146;' &gt;Investment properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' 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:6pt;font-weight:bold;color:#072146;' &gt;Investment properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' 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: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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &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: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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td&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;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: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:#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;&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:#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;&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:#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;&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;/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: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:40,5pt;border-top-style:solid;border-top-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;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;5.939&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;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;70&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;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;6.314&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;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;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;-&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;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;201&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;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;386&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;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;12.910&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Additions&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: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;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;63&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;335&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;3.574&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;101&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;-&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;4.175&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:40,5pt;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;&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;(20)&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;(302)&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;(57)&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;(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;-&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;(433)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:40,5pt;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;&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;(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;(8)&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;-&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;-&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;(88)&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:#000000;' &gt;Exchange difference and other&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: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;57&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;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;-&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;(49)&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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:161,25pt;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:40,5pt;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;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;6.001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;6.351&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;3.516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;16.578&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Accrued depreciation &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;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:161,25pt;border-top-style:solid;border-top-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:40,5pt;border-top-style:solid;border-top-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;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;1.138&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;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;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;4.212&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;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;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;-&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;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;11&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;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;76&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;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;5.437&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Additions&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:8pt;color:#000000;' &gt;45&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;92&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;431&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;338&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;4&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;876&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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;Additions transfer to discontinued operations (*)&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: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;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;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;26&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;43&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;103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:40,5pt;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;&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;(38)&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;(255)&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;-&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;(296)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:40,5pt;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;&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;-&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;(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;-&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;(30)&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:#000000;' &gt;Exchange difference and other&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: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;43&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;(57)&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;(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;(23)&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;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:40,5pt;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;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;1.253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;4.344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;6.067&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Impairment &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;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:161,25pt;border-top-style:solid;border-top-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:40,5pt;border-top-style:solid;border-top-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;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;217&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;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;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;-&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;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;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;-&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;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;27&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;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;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;244&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Additions&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:8pt;color:#000000;' &gt;49&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;-&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;20&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;60&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;94&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:40,5pt;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;&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;-&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;-&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;/tr&gt;&lt;tr style='height:12,75pt;' &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:40,5pt;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;&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;-&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;127&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;(4)&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;121&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:#000000;' &gt;Exchange difference and other&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: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;(20)&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;4&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;-&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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:161,25pt;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:40,5pt;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;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;212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;443&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: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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;4.584&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;font-weight:bold;color:#094FA4;' &gt;70&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;font-weight:bold;color:#094FA4;' &gt;2.102&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;font-weight:bold;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;163&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;font-weight:bold;color:#094FA4;' &gt;310&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;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:161,25pt;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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;font-weight:bold;color:#094FA4;' &gt;4.536&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;font-weight:bold;color:#094FA4;' &gt;56&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;font-weight:bold;color:#094FA4;' &gt;2.007&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;font-weight:bold;color:#094FA4;' &gt;2.955&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;font-weight:bold;color:#094FA4;' &gt;76&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;font-weight:bold;color:#094FA4;' &gt;175&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;font-weight:bold;color:#094FA4;' &gt;263&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;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:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)     &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Amount in 2019 is mainly due to the stake in BBVA USA (see Note 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 right to use asset consists mainly of the rental of commercial real &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 no&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rmal market conditions in the country where the property is rented.&lt;/font&gt;&lt;/p&gt;&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:485,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:485,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#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;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 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:6pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' 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:6pt;font-weight:bold;color:#072146;' &gt;For own use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' 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: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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &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: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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &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: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:6pt;font-weight:bold;color:#072146;' &gt;Land and buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' 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:6pt;font-weight:bold;color:#072146;' &gt;Work in progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' 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: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: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:#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;&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:#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;&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:#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;&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;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:40,5pt;border-top-style:solid;border-top-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;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;5.490&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;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;234&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;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;6.628&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;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;12.352&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;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;228&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;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;492&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;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;13.072&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;Additions&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: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;445&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;78&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;404&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;927&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;-&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;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:40,5pt;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;&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;(98)&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;(17)&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;(492)&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;(607)&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;(149)&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;(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:40,5pt;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;&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;(177)&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;(125)&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;(130)&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;Exchange difference and other&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: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;38&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;(48)&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;(214)&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;(224)&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;116&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;(105)&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;(213)&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;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:40,5pt;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;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;5.939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;6.314&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;12.323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;201&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;12.910&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: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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#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-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: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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;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;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:40,5pt;border-top-style:solid;border-top-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;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;1.076&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;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;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;4.380&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;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;5.456&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;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;13&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;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;77&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;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;5.546&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;Additions&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:8pt;color:#000000;' &gt;45&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;86&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;442&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;528&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;533&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;Additions transfer to discontinued operations (*)&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: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;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;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;61&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;61&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:40,5pt;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;&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;(36)&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;(403)&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;(439)&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;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;(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:40,5pt;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;&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;-&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;-&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;/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:40,5pt;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;&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;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;(22)&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;(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;-&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;(55)&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;Exchange difference and other&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: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;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;-&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;(212)&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;(200)&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;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;(198)&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;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:40,5pt;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;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;1.138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;4.212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;5.350&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;5.437&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: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:40,5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &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:#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-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: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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;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;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:40,5pt;border-top-style:solid;border-top-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;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;315&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;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;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;-&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;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;315&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;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;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;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;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;335&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;Additions&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:8pt;color:#000000;' &gt;49&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;29&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;29&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;(25)&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;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21,75pt;' &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;Additions transfer to discontinued operations (*)&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: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;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;-&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;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;-&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;1&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:40,5pt;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;&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;-&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;-&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;/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:40,5pt;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;&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;(77)&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;(77)&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;-&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;(80)&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;Exchange difference and other&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: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;(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;-&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;(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;62&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;11&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;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:40,5pt;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;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;217&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;217&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;244&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:bottom;border-color:Black;min-width:161,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Net tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;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;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:40,5pt;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:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#004481;' &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;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;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:40,5pt;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:#004481;' &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;font-weight:bold;color:#004481;' &gt;4.099&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;font-weight:bold;color:#004481;' &gt;234&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;font-weight:bold;color:#004481;' &gt;2.248&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;font-weight:bold;color:#004481;' &gt;6.581&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;font-weight:bold;color:#004481;' &gt;195&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;font-weight:bold;color:#004481;' &gt;415&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;font-weight:bold;color:#004481;' &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;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:40,5pt;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:#004481;' &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;font-weight:bold;color:#004481;' &gt;4.584&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;font-weight:bold;color:#004481;' &gt;70&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;font-weight:bold;color:#004481;' &gt;2.102&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;font-weight:bold;color:#004481;' &gt;6.756&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;font-weight:bold;color:#004481;' &gt;163&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;font-weight:bold;color:#004481;' &gt;310&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;font-weight:bold;color:#004481;' &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;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)     &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Amount is mainly due to the stake in BBVA USA (see Note 3).&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, 2020, 2019 and 2018, the cost of fully amortized tangible asset&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s that remained in use were &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2,299, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8364;2,658 and &amp;#8364;2,624&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 subsid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;iaries as of December 31, 2020, 2019 and 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:486,75pt;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-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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;4.294&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;/tr&gt;&lt;tr style='height:13,5pt;' &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;Foreign subsidiaries&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;3.529&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;5.203&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;4.524&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:276,75pt;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;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;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;7.823&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoftangibleassetsexplanatory>
  <ifrs-full:DisclosureOfIntangibleAssetsExplanatory id="ID_10609" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;18. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;18.1 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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 (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hereinafter &amp;#8220;&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;&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;) to which goodwill has been &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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;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-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-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#002146;' &gt;The United States&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;font-weight:bold;color:#002146;' &gt;Mexico&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;font-weight:bold;color:#002146;' &gt;Turkey&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;font-weight:bold;color:#002146;' &gt;Colombia&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;font-weight:bold;color:#002146;' &gt;Chile&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;font-weight:bold;color:#002146;' &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;font-weight:bold;color:#002146;' &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;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;text-align: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;text-align: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;text-align: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;text-align: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;text-align: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;text-align: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;text-align: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;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;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;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;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;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;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;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;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;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;(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;(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;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;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;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;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;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;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;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;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;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;(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;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;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;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;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;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;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;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;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;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;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;(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;(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;(92)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(21)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(208)&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;(2.084)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(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:8pt;color:#000000;' &gt;(2.097)&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;Companies held for sale&lt;/font&gt;&lt;/td&gt;&lt;td 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;(1.740)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(1.740)&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;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, 2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;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;478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;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;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;910&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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, 2020, the remaining goodwill of the United States CGU was reclassified to the heading &amp;#8220;Non-current assets and disposal groups classified as held for sale&amp;#8221; of the consolidated balance sheet, whereas the impairment was reclassified to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;heading &amp;#8220;Profit (loss) after tax from discontinued operations&amp;#8221; of the consolidated income statements (see Notes 1.3, 3 and 21).&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;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 &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;, 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; and 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;/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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; mentioned in Note 2.2.8, the CGUs to which goodwill has been allocated&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; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of impairment. Furthermore, it is analyzed whether certain changes in the valuation assumptions used could give rise to differences in the result of the 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;The BBVA Group performs estimations on the recoverable amount of certain CGU&amp;#180;s by calc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ulating 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: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 forecast cash flows, including net interest margin and cost of risk, estimated by the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group&amp;#39;s management, and based on the latest available budgets for the next 4 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 rate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;s 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: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 constant growth rate for extrapolating cash flows, starting in the fourth 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: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 discount rate on future cash flo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ws, 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 determine the values o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f 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 valuation of the goodwill of the CGU of Turkey has been reviewed by independent &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;experts (not the Group&amp;#39;s external auditors). &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, 2020, as a result of the CGU&amp;#180;s assessment, the Group concluded there is no evidence of further indicators of impairment losses that requires recognizing significant additional impairment &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;losses in any of the CGUs where goodwill that the Group has recognized in the consolidated balance sheet is allocated.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of March 31, 2020, the Group identified an indicator of impairment of goodwill in the United States CGU and as a result of the goodwi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ll impairment test, the Group estimated impairment in the United States CGU, of &amp;#8364;2,084 million, which was mainly due to the negative impact of the update of the macroeconomic scenario following the COVID-19 pandemic (see Note 1.5) and the expected evolutio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n of interest rates. This recognition did not affect the tangible book value nor the liquidity nor the solvency ratio of the BBVA Group.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of December 31, 2019, the Group estimated impairment losses in the United States CGU of &amp;#8364;1,318 million, which was m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ainly as a result of the negative evolution of interest rates, especially in the second half of the year, which accompanied by the slowdown of the economy caused the expected evolution of results below the previous estimation. This recognition did not affe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ct the tangible book value nor the liquidity nor the solvency ratio of the BBVA Group.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of December 31, 2018, no impairment had 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:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of December 31, 2020, the remaining goodwill cor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;responding to the United States CGU has been reclassified to the heading &amp;quot;Non-current assets and disposal groups classified as held for sale&amp;quot; in the consolidated balance sheets (see Notes 1.3, 3 and 21). Pursuant to IFRS 5.15, the CGU must be measured at t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he lower of fair value less costs to sell and the carrying amount. Given the price agreed in the sale agreement, the fair value less costs to sell is higher than carrying amount of the assets and liabilities of the CGU, which means that as of December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020 these will remain valued at their carrying amount (included goodwill) on the reclassification date.&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 most significant assumptions used in the latest impairment tests of such 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:12,75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:285pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:285pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Impairment test assumptions CGU goodwill - United States&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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: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:8pt;font-weight:bold;color:#072146;' &gt;March 2020&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;font-weight:bold;color:#072146;' &gt;December 2019&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;font-weight:bold;color:#072146;' &gt;December 2018&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:middle;border-color:Black;min-width:124,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:8pt;color:#000000;' &gt;10,3%&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;10,0%&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;10,5%&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:middle;border-color:Black;min-width:124,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Growth rate&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:8pt;color:#000000;' &gt;3,0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,5%&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;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:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) Post-tax discount rates.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;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;accordance with paragraph 33.c of IAS 36, as of March 31, 2020, the Group used a constant growth rate of 3.0%, 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 State&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The assumptions that carry the most weight and whose volatility could affect the most in determining the present value of cash flows from the fifth year on are the discount rate and the growth rate. The following shows the amount that would increase (o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r decrease) the recoverable value of the CGU, as a consequence of a reasonably possible variation (in basis points, &amp;#8220;bp&amp;#8221;) of each of the key assumptions as of March 31, 2020:&lt;/font&gt;&lt;/p&gt;&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:374,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:374,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Sensitivity analysis for main assumptions - United States (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:103,5pt;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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:139,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:139,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Increase of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:131,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:131,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Decrease of 50 basis points (*)&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:middle;border-color:Black;min-width:103,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:139,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:139,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(755)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:131,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:131,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;869&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:middle;border-color:Black;min-width:103,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:139,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:139,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:131,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:131,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(235)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; The use of very different discount or growth rates would be inconsistent with the macroeconomic assumptions under which the Unit builds its business plan, such as inflation assumptions or interest rate curves used to determine cash flows.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:8pt;line-height:12,95pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#004580;' &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 - Mex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;ico 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 significant goodwill&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;co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rresponds to the CGU in Mexico, the main significant assumptions used in the impairment test of this mentioned CGU as of December 31, 2020, 2019 and 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13,5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:482,25pt;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 Mexico&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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;font-weight:bold;color:#0A5FB4;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;15,3%&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;14,8%&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;14,8%&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;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;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;5,9%&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;5,6%&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:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) Post-tax discount &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;rates.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In accordance with paragraph 33.c of IAS 36, as of December 31, 2020, the Group used a growth rate of 5.7% based on the real GDP growth rate of Mexico, the expected inflation and the potential growth of the banking sector in Mexico. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The assumption&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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 fourth year are the discount rate and the growth rate. Below, in a simplified way, is shown the increased (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or decreased) amount of the CGU recoverable amount as a result of a reasonable variation (in basis points) of each of the key assumptions, considered in isolation as of December 31, 2020, where, in any case, the value in use &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;would continue to exceed their &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;book value&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:12,75pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:382,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:382,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Sensitivity analysis for main assumptions - Mexico (Millions of Euros)&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;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:132pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;Impact of an increase of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110,25pt;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;Impact of a decrease of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:132pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:132pt;' &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: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;1.156&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19,5pt;' &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;Growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:132pt;text-align:right;vertical-align:middle;border-color:Black;min-width:132pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;688&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;(620)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;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.&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 - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;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 as of December 31, 2020, 2019 and 2018 are:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:471,75pt;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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;21,0%&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;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;/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;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:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) Post-tax discount rates.&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;Given the potential growth of the sector in Turkey, in accordance with paragraph 33.c of IAS 36, as of December 31, 2020, 2019 and 2018 the Group used a steady growth rate of 7.0% based on the real GDP growth rate of Turkey and expected inflation. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The ass&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;umptions 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 growth rate. Below, in a simplified way, is shown the increased (or d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ecreased) amount of the recoverable amount as a result of a reasonable variation (in basis points) of each of the key assumptions, considered in isolation as of December 31, 2020, where, in any case, the value in use would continue to exceed their book val&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;u&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;:&lt;/font&gt;&lt;/p&gt;&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:365,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:365,25pt;' &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:41,25pt;' &gt;&lt;td style='width:103,5pt;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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&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: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:132pt;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;Impact of a decrease of 50 basis points (*)&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:middle;border-color:Black;min-width:103,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:129,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:129,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:132pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:132pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24,75pt;' &gt;&lt;td style='width:103,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:103,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:129,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:129,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:132pt;text-align:right;vertical-align:middle;border-color:Black;min-width:132pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height: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;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.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Considering the unce&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rtainty caused by the current economic situation, the Group has carried out additional sensitivities on other variables such as the net interest income and the cost of risk forecasts, not having detected any modification on the result of the impairment tes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t on the CGU.&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;As of March 31, 2020, a goodwill impairment test of the Turkey CGU was carried out due to the identification of indicators of impairment. As a result of such test, the Group determined that there was no impairment in this CGU. &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 -&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt; 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 assumptions carried out for the rest of the CGUs of the Group indicate that their value in use would continue to exceed 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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;18.2.&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;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:449,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:449,25pt;' &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: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;font-weight:bold;color:#44546A;' &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;font-weight:bold;color:#44546A;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Computer software acquisition expense&lt;/font&gt;&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;1.202&lt;/font&gt;&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;1.598&lt;/font&gt;&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;1.605&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:245,25pt;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 intangible assets with an infinite useful life&lt;/font&gt;&lt;/td&gt;&lt;td 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;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:8pt;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:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:245,25pt;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 intangible assets with a definite useful life&lt;/font&gt;&lt;/td&gt;&lt;td 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;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:8pt;color:#000000;' &gt;401&lt;/font&gt;&lt;/td&gt;&lt;td 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;518&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &gt;&lt;td style='width:245,25pt;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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;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;1.435&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;2.010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;2.134&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:8pt;margin-left:0pt;' &gt;The changes of this heading in December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018&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:12,75pt;' &gt;&lt;td colspan='11' rowspan='1' style='width:835,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:835,5pt;' &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:12,75pt;' &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:63,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;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;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:191,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:191,25pt;' &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 colspan='3' rowspan='1' style='width:191,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:191,25pt;' &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 colspan='3' rowspan='1' style='width:191,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:191,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;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: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;Notes&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:#072146;' &gt;Computer software&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:#072146;' &gt;Other intangible &lt;/font&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: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:#072146;' &gt;Total of intangible assets&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:#072146;' &gt;Computer software&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:#072146;' &gt;Other intangible &lt;/font&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: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:#072146;' &gt;Total of intangible assets&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:#072146;' &gt;Computer software&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:#072146;' &gt;Other intangible &lt;/font&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: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:#072146;' &gt;Total of intangible assets&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;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;Balance at the beginning&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;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;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;1.598&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;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;412&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;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;2.010&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;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;1.605&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;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;529&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;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;2.134&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;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;1.682&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;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;721&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;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;2.402&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;Additions&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;452&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;460&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;525&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;533&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;540&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;12&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;552&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;Amortization in the year&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;45&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;(448)&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;(59)&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;(507)&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;(447)&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;(63)&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;(510)&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;(436)&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;(65)&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;(500)&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;Amortization transfer to discontinued operations (*)&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;(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;(3)&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;(80)&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;(106)&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;(110)&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;(105)&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;(114)&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;Exchange differences and other &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;(38)&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;(91)&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;(129)&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;32&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;(58)&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;(74)&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;(49)&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;(123)&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;Impairment&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;(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;-&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;(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;(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;(12)&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;(81)&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;(83)&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;Decreases by companies held for sale (*)&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;(279)&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;(34)&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;(313)&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;-&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;-&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;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;1.202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;1.435&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;1.598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;412&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;2.010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;1.605&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;529&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;2.134&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:left;margin-top:12pt;margin-bottom:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)     &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Amount is mainly due to the stake in BBVA USA (see Note 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;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of December 31, 2020, 2019 and 2018, the cost of fully amortized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;intangible assets that remained in use were &amp;#8364;2,622 million, &amp;#8364;2,702 million, &amp;#8364;2,412 million respectively, while their recoverable value was not significant.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIntangibleAssetsExplanatory>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10610" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_LoansandadvancesatamortizedcostatthebeginningMember" unitRef="EUR" decimals="INF">-2149000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10611" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_LoansandadvancesatamortizedcostatthebeginningMember" unitRef="EUR" decimals="INF">-2183000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10612" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_LoansandadvancesatamortizedcostatthebeginningMember" unitRef="EUR" decimals="INF">-8094000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10613" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_LoansandadvancesatamortizedcostatthebeginningMember" unitRef="EUR" decimals="INF">-12427000000</bbva:Valuecorrectionsloansandadvancesbylevels>
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  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10616" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_TransfersoffinancialassetsMember" unitRef="EUR" decimals="INF">-1806000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10617" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_TransfersoffinancialassetsMember" unitRef="EUR" decimals="INF">-2133000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10618" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transfersfromstage1tostage2notcreditimpairedMember" unitRef="EUR" decimals="INF">156000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10619" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transfersfromstage1tostage2notcreditimpairedMember" unitRef="EUR" decimals="INF">-923000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10620" contextRef="AS_OF_Dec31_2020_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_10622" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transfersfromstage2tostage1notcreditimpairedMember" unitRef="EUR" decimals="INF">-50000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10623" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transfersfromstage2tostage1notcreditimpairedMember" unitRef="EUR" decimals="INF">253000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10624" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transfersfromstage2tostage1notcreditimpairedMember" unitRef="EUR" decimals="INF">0</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10625" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transfersfromstage2tostage1notcreditimpairedMember" unitRef="EUR" decimals="INF">202000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10626" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transferstostage3Member" unitRef="EUR" decimals="INF">81000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10627" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transferstostage3Member" unitRef="EUR" decimals="INF">218000000</bbva:Valuecorrectionsloansandadvancesbylevels>
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  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10633" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transfersfromstage3tostage1or2Member" unitRef="EUR" decimals="INF">83000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10634" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_NetproductionfinnancialassetsMember" unitRef="EUR" decimals="INF">-872000000</bbva:Valuecorrectionsloansandadvancesbylevels>
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  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10638" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_WritteoffsMember" unitRef="EUR" decimals="INF">0</bbva:Valuecorrectionsloansandadvancesbylevels>
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  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10641" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_WritteoffsMember" unitRef="EUR" decimals="INF">2568000000</bbva:Valuecorrectionsloansandadvancesbylevels>
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  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10647" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_NetforeignexchangelossMember" unitRef="EUR" decimals="INF">256000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10648" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_NetforeignexchangelossMember" unitRef="EUR" decimals="INF">721000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10649" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_NetforeignexchangelossMember" unitRef="EUR" decimals="INF">1204000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10650" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_IncreasedecreasethroughothermovementsfinancialassetsMember" unitRef="EUR" decimals="INF">12000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10651" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_IncreasedecreasethroughothermovementsfinancialassetsMember" unitRef="EUR" decimals="INF">-118000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10652" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_IncreasedecreasethroughothermovementsfinancialassetsMember" unitRef="EUR" decimals="INF">-177000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10653" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_IncreasedecreasethroughothermovementsfinancialassetsMember" unitRef="EUR" decimals="INF">-283000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10654" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_OtherimpairmentlossesMember" unitRef="EUR" decimals="INF">160000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10655" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_OtherimpairmentlossesMember" unitRef="EUR" decimals="INF">618000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10656" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_OtherimpairmentlossesMember" unitRef="EUR" decimals="INF">25000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10657" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_OtherimpairmentlossesMember" unitRef="EUR" decimals="INF">803000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10658" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_InterruptedoperationsmemberMember" unitRef="EUR" decimals="INF">401000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10659" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_InterruptedoperationsmemberMember" unitRef="EUR" decimals="INF">444000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10660" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_InterruptedoperationsmemberMember" unitRef="EUR" decimals="INF">278000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10661" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_InterruptedoperationsmemberMember" unitRef="EUR" decimals="INF">1123000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10662" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_LoansandadvancesatamortizedcostattheendMember" unitRef="EUR" decimals="INF">-2037000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10663" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_LoansandadvancesatamortizedcostattheendMember" unitRef="EUR" decimals="INF">-2289000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10664" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_LoansandadvancesatamortizedcostattheendMember" unitRef="EUR" decimals="INF">-7815000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10665" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_LoansandadvancesatamortizedcostattheendMember" unitRef="EUR" decimals="INF">-12141000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Disclosureoftaxassetsandliabiltiiesexplanatory id="ID_10666" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;19. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Tax assets and liabilities&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;19.1. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;19.2. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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;At 31 December 2020, the BBVA consolidated tax group in Spain is currently under inspection for the years 2014 to 2016 inclusive for the main taxes applicable to it.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The remainder of the Spanish &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;other hand, in relation to the main jurisdictions in which the Group is present and carries out its activity, in the case of Mexico, BBVA Bancomer &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;S.A., &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;is currently under inspection by the Mexican Tax Authorities for the years 2016 and 2017 corresponding &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to Corporate Income Tax and Value Added Tax.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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, in the case of Turkey, the head entity in this country, Garanti BBVA A.S., is currently under inspection by the Tax Authorities of that country for all the taxes applicable to it corresponding to th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e years 2017 and 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;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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ax 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 wo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uld 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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;19.3. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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 the Spanish corporation income tax rate and the inco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;me 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;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  (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;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-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;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:91,5pt;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-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;/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:11,5pt;' &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:#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;3.576&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;td style='width:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;5.248&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;7.046&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;7.565&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:11,5pt;' &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 discontinued operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1.672)&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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(648)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;881&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:20,5pt;' &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;1.073&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;1.920&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;/tr&gt;&lt;tr style='height:11,5pt;' &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;(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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;/tr&gt;&lt;tr style='height:11,5pt;' &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;(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;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;(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;/tr&gt;&lt;tr style='height:11,5pt;' &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;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;(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;/tr&gt;&lt;tr style='height:11,5pt;' &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;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;31%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;/tr&gt;&lt;tr style='height:11,5pt;' &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;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(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;/tr&gt;&lt;tr style='height:11,5pt;' &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;(73)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(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;/tr&gt;&lt;tr style='height:11,5pt;' &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;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;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;(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;17%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;20%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;93&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:11,5pt;' &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;(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;/tr&gt;&lt;tr style='height:11,5pt;' &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;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;/tr&gt;&lt;tr style='height:11,5pt;' &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;Other effects (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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:#004481;' &gt;Income tax&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-weight:bold;color:#004481;' &gt;1.516&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-weight:bold;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;font-weight:bold;color:#004481;' &gt;2.053&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-weight:bold;color:#004481;' &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-weight:bold;color:#004481;' &gt;2.219&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-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;1.459&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-style:italic;color:#000000;' &gt;1.943&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;2.042&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:11,5pt;' &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:#666666;' &gt;Of which: Discontinued operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:#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;font-style:italic;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;font-style:italic;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-style:italic;color:#000000;' &gt;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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;(*)        &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 the one applied to the Group&amp;#8217;s earnings in each &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;jurisdiction.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(**)        &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;This amount is generated in 2020 and 2019 mainly as a result of the impact of the goodwill impairment of The United State&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;s&amp;#39; CGU.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The effective income tax rate for the Group in the years ended December 31, &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;, 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; and 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; 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:315pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:315pt;' &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:25pt;' &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:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:12pt;' &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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;font-weight:bold;color:#004481;' &gt;Income from:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:12pt;' &gt;&lt;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:11,5pt;' &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:8pt;color:#000000;' &gt;Consolidated tax group in Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:12pt;' &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;259&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;/tr&gt;&lt;tr style='height:11,5pt;' &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:8pt;color:#000000;' &gt;Other Spanish entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;text-align:right;vertical-align:middle;border-color:Black;min-width:12pt;' &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;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;/tr&gt;&lt;tr style='height:11,5pt;' &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:8pt;color:#000000;' &gt;Foreign entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;text-align:right;vertical-align:middle;border-color:Black;min-width:12pt;' &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;4.982&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;7.757&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;6.050&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:145,5pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Gains (losses) before taxes from continuing operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:12pt;' &gt;&lt;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;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;5.248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;7.046&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;7.565&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:145,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:145,5pt;' &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:12pt;text-align:right;vertical-align:middle;border-color:Black;min-width:12pt;' &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;1.459&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;1.943&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;2.042&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:145,5pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Effective tax rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:12pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:12pt;' &gt;&lt;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;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;27,8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;27,6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;27,0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In the year 2020, 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 36% compared to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the tax rate applicable last year 33%. In the year 2019, there has been no changes in the nominal tax rate on corporate income tax, except for Colombia where the applicable tax rate has been 33% compared to the initially forecasted 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; &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;19.4. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Income tax 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;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;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:25pt;' &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-weight:bold;color:#0A5FB4;' &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-weight:bold;color:#0A5FB4;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;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: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;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:11,5pt;' &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: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;(230)&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;/tr&gt;&lt;tr style='height:11,5pt;' &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:#000000;' &gt;Equity instruments&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;(43)&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;(40)&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;(56)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:287,25pt;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;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;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;(273)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:287,25pt;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;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;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;(273)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;19.5. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Current and 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 d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eferred tax liabilities. The details of the mentioned tax assets and liabilities are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:366pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:366pt;' &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:25pt;' &gt;&lt;td style='width:154,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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: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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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:11,5pt;' &gt;&lt;td style='width:154,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;1.199&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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;15.327&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: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;439&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;1.292&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;1.683&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;1.069&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;1.045&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;1.292&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;9.361&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;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;1.483&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;1.432&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;1.480&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:154,5pt;' &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:70,5pt;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;16.526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70,5pt;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;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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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-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-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-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:11,5pt;' &gt;&lt;td style='width:154,5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;545&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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;1.809&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;908&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:154,5pt;' &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;901&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;914&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;910&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:154,5pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:154,5pt;' &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:70,5pt;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;2.355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70,5pt;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;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;/tr&gt;&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 most significant variations of the deferred assets and liabilities in the years 20&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;20, 2019 and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:492pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:492pt;' &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;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:45,75pt;text-align: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 colspan='2' rowspan='1' style='width:91,5pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:91,5pt;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-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;/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: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-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;Deferred 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;font-weight:bold;color:#072146;' &gt;Deferred 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;font-weight:bold;color:#072146;' &gt;Deferred 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;font-weight:bold;color:#072146;' &gt;Deferred 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;font-weight:bold;color:#072146;' &gt;Deferred 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;font-weight:bold;color:#072146;' &gt;Deferred liabilities&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:171,75pt;border-top-style:solid;border-top-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:45,75pt;border-top-style:solid;border-top-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;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;15.318&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;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;1.928&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;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;15.316&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;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;2.046&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;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;14.725&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;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;2.184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;Pensions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;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:#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;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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;Financials instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(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;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(52)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(291)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:11,5pt;' &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;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(247)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;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:#000000;' &gt;153&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;Guaranteed tax assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;td style='width:45,75pt;text-align: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;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:11,5pt;' &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;Tax 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:#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;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:#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;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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;268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align: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:11,5pt;' &gt;&lt;td style='width:171,75pt;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:45,75pt;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;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;15.327&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;1.809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;15.318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;1.928&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;15.316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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;2.046&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:5pt;margin-bottom:5pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;With respect to the changes in assets and liabilities due to deferred tax in &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; contained in the above table, the following should be pointed out:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35,4pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:53,4pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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;Secur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ed tax assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;maintain a very similar balance to that of the previous year&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:35,4pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:53,4pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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 increase in tax assets due to tax loss arises as a result of the generation of tax losses and deductions in the year.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35,4pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:53,4pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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 evolution of deferred tax assets (other than those guaranteed and those linked to tax losses) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;net of deferred tax liabilities is due to the agreement to sell the US business unit (its deferred tax assets and liabilities in 2020 are shown under &amp;quot;Non-current assets or liabilities and disposal groups classified as held for sale&amp;quot;), the effect of exchan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ge rates, especially in the case of Mexico and Turkey, and the operation of corporate income tax, where the differences between accounting and taxation give rise to constant movements in 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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, 2020, 2019 and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;106&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million euros, 4&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;7&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;3 million euros and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;443&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 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:498,75pt;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;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-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:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &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-bottom-style:solid;border-bottom-width:1;text-align:right;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;Pensions&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;&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;1.924&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;1.924&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;1.924&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &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;Loss allowances&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;7.437&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;7.439&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;7.439&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,5pt;' &gt;&lt;td style='width:234,75pt;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:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9.361&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &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:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of December 31, &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;, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;non-guaranteed net deferred tax assets of t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he above table amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;4,156&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million (&amp;#8364;4,027 and &amp;#8364;3,907&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 as of December 31, 2019 and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; respectively), which broken down by major geographies is as follows: &lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35,4pt;text-align:justify;margin-top:12pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53,4pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&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 r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ecognized in Spain totaled &amp;#8364;2,590&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million as of Dece&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mber 31, 20&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; (&amp;#8364;2,447 and &amp;#8364;2,653&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million 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; and 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;, respectively). &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;1,480 million of the figure recorded in the year ended December 31, 2020 for net deferred tax assets related to tax credit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s and t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ax loss carry forwards and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;1,110&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 relate to temporary differences. &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35,4pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:53,4pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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: Net deferred tax assets recognized in Mexico amounted to &amp;#8364;1,036&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; million as of December 31, 2020&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,083&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;826&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; million as of December 31, 2019 and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, respectively). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Practically all of deferred tax assets as of December 31, 2020 relate to temporary differences.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35,4pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:53,4pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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: Net deferred tax assets recognized in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; South America amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; million as of December 31, 20&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;84&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.4&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; million 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; and 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, respectively). Practically all the deferred tax assets are related&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; to temporary differences&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:35,4pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:53,4pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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: Net deferred tax assets recognized in the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; United States amounted to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; &amp;#8364;2&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;million as of December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2020&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;164&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; and 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, respectively). All the deferred tax assets relate to temporary differences.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In this respect, it should be noted that the 2020 figure is affected by the sale agreement of the US business unit (the deferred &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;tax assets and liabilities of the business subject to the sale agreement in 2020 are shown as &amp;quot;Non-current assets or liabilities and disposal groups that have been classified as held for sale&amp;quot;).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35,4pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:53,4pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#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: Net deferred tax assets recognized in Turkey amounted&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; to &amp;#8364;395&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; million as of December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2020&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;278&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;color:#000000;' &gt;&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;250&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; million as of December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2019&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;color:#000000;' &gt;2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, respectively). Practically all the deferred tax assets are related 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 a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;vailable as of December 31, &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;, including historical levels of benefits and projected results available to the Group for the coming &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;15 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;years, the Group has carried out an analysis of its recovery of deferred tax assets and liabilities taking into account the impact of COVID-19 pandemic&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; (see Note 1.5). It is considered that sufficient taxable income will be generated for the recovery of above mentioned unsecured deferred tax assets when they become deductible accor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ding to the tax laws&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;On the other hand, the Gro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;up has not recognized certain &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;negative tax bases and deductions for which, in general, there is no legal period for offsetting, amounting &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to approximately &amp;#8364; 2,156 million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, which are mainly originated by Catalunya Banc.&lt;/font&gt;&lt;/p&gt;</bbva:Disclosureoftaxassetsandliabiltiiesexplanatory>
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  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10709" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_IncreasedecreasethroughothermovementsfinancialassetsMember" unitRef="EUR" decimals="INF">-89000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10710" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_IncreasedecreasethroughothermovementsfinancialassetsMember" unitRef="EUR" decimals="INF">-254000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10711" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_OtherimpairmentlossesMember" unitRef="EUR" decimals="INF">215000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10712" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_OtherimpairmentlossesMember" unitRef="EUR" decimals="INF">366000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10713" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_OtherimpairmentlossesMember" unitRef="EUR" decimals="INF">183000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10714" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_OtherimpairmentlossesMember" unitRef="EUR" decimals="INF">764000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10715" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_LoansandadvancesatamortizedcostattheendMember" unitRef="EUR" decimals="INF">-2149000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10716" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_LoansandadvancesatamortizedcostattheendMember" unitRef="EUR" decimals="INF">-2183000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10717" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_LoansandadvancesatamortizedcostattheendMember" unitRef="EUR" decimals="INF">-8094000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_10718" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_LoansandadvancesatamortizedcostattheendMember" unitRef="EUR" decimals="INF">-12427000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Disclosureofotherassetsandliabilitiesexplanatory id="ID_10719" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;20.&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;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 composition of the balance of these captions of the accompanying consolidated balance sheets is:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:305,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:305,25pt;' &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:21pt;' &gt;&lt;td style='width:110,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &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: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;font-weight:bold;color:#44546A;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;border-top-style:solid;border-top-width:1;text-align:left;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;ASSETS&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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Inventories&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;572&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;581&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;635&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &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: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;160&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;138&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;249&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accruals&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;756&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;804&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;702&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &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: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;1.025&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;2.277&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;3.886&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:110,25pt;' &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:48,75pt;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;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;2.513&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;3.800&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;5.472&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;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;LIABILITIES&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-weight:bold;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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &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: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;75&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;39&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;39&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accruals&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;1.584&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;2.456&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;2.558&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:110,25pt;' &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: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;1.144&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;1.247&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;1.704&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:110,25pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:110,25pt;' &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:48,75pt;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;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;2.802&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;3.742&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;4.301&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofotherassetsandliabilitiesexplanatory>
  <ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory id="ID_10720" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Non-current assets and disposal groups classified as held for sale and liabilities included in disposal groups&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &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 composition of the balances under the headings &amp;#8220;Non-current assets and disposal groups classified as 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; in the accompanying consolidated balance sheets, broken down by the origin 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:10,5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:452,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:452,25pt;' &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:18,75pt;' &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;font-weight:bold;color:#44546A;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Foreclosures and recoveries (*)&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;1.398&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;1.647&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;2.210&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Assets from tangible assets&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;480&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;310&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;433&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Companies held for sale (**)&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;84.792&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;1.716&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;29&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Accrued amortization (***)&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;(89)&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;(51)&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;(44)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Impairment losses &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;(594)&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;(543)&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;(628)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:261pt;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 non-current assets and disposal groups classified as held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;85.987&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;3.079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;2.001&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;Companies held for sale (**)&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;75.446&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;1.554&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;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:261pt;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 liabilities included in disposal groups classified as held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;75.446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;1.554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63,75pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;(*)        &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;2018 figures correspo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;nd mainly to the agreement with Cerberus to transfer the &amp;quot;Real Estate&amp;quot; business in Spain (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size: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;2020 figures correspond mainly to the sale of BBVA&amp;#180;s stake in BBVA USA (see Note 3). 2019 figures correspond mainly to the BBVA&amp;#180;s stake in BBV&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;A Paraguay (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;(***)   Corresponds to the accumulated depreciation of assets before their classification as &amp;quot;Non-current assets and disposal groups classified as held for sale&amp;quot;.&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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Assets and liabilities from 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;As mentioned in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Note 3, in 2020 the agreement for the sale of the BBVA subsidiary in the United States was announced. The assets and liabilities corresponding to the companies for sale were reclassified to the headings &amp;#8220;Non-current assets and disposal groups classified a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s held for sale&amp;#8221; and &amp;#8220;Liabilities included in disposal grou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ps classified as held for sale&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the consolidated balance sheet as of December 31, 2020; and the earnings of these companies for the years ended December 31, 2020, 2019 and 2018 were classified u&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nder the heading &amp;quot;Profit (loss) after tax from discontinued operations&amp;quot; of the accompanying consolidated income statements (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 condensed consolidated balance sheets, condensed consolidated income statements and condensed consolidated state&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ments of cash flow of the companies for sale in the United States subsidiary for the years 2020, 2019 and 2018 are provided 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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Condensed balance sheet&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt; of companies held for sale in the United States subsidiary as of December 31, 2020, 2019 and 2018&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9,75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:459,75pt;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:7,5pt;color:#5AC4C4;' &gt;CONDENSED ASSETS (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:255,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:255,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FF0000;' &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:7,5pt;font-weight:bold;color:#072146;' &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:7,65pt;font-weight:bold;color:#072146;' &gt;2020&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:7,65pt;font-weight:bold;color:#072146;' &gt;2019&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:7,65pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;11.368&lt;/font&gt;&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:7,5pt;color:#000000;' &gt;5.678&lt;/font&gt;&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:7,5pt;color:#000000;' &gt;2.326&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;821&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;513&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;228&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19,5pt;' &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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;4.974&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;6.834&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;10.030&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;61.558&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;62.860&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;59.302&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;23&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:7,5pt;color:#000000;' &gt;Tangible 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:7,5pt;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:7,5pt;color:#000000;' &gt;799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;900&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;665&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Intangible 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:7,5pt;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:7,5pt;color:#000000;' &gt;1.949&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;4.183&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:7,5pt;color:#000000;' &gt;5.438&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Tax 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:7,5pt;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:7,5pt;color:#000000;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;446&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Other 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:7,5pt;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:7,5pt;color:#000000;' &gt;1.390&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;1.463&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;1.401&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:255,75pt;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:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;83.257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;82.751&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;79.908&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:459,75pt;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:7,5pt;color:#5AC4C4;' &gt;CONDENSED LIABILITIES (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:255,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:255,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#004481;' &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:7,5pt;font-weight:bold;color:#072146;' &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:7,65pt;font-weight:bold;color:#072146;' &gt;2020&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:7,65pt;font-weight:bold;color:#072146;' &gt;2019&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:7,65pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;94&lt;/font&gt;&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:7,5pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;73.132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;70.438&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;66.635&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19,5pt;' &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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Provisions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;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:7,5pt;color:#000000;' &gt;186&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Tax liabilities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;201&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;color:#000000;' &gt;Other liabilities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;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:7,5pt;color:#000000;' &gt;492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;464&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#000000;' &gt;497&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:255,75pt;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:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;74.082&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;71.279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7,5pt;font-weight:bold;color:#FFFFFF;' &gt;67.688&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;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:7,5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:459,75pt;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:7pt;color:#5AC4C4;' &gt;ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:255,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:255,75pt;' &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: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;font-weight:bold;color:#072146;' &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:7pt;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Actuarial gains (losses) on defined benefit pension plans&lt;/font&gt;&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;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;text-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-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;(80)&lt;/font&gt;&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;(69)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Hedge of net investments in foreign operations (effective portion)&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#004481;' &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;(432)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(432)&lt;/font&gt;&lt;/td&gt;&lt;td 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;(432)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Foreign currency translation &lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#004481;' &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;801&lt;/font&gt;&lt;/td&gt;&lt;td 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;1.576&lt;/font&gt;&lt;/td&gt;&lt;td 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;1.337&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Hedging derivatives. Cash flow hedges (effective portion)&lt;/font&gt;&lt;/td&gt;&lt;td 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;font-weight:bold;color:#004481;' &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;250&lt;/font&gt;&lt;/td&gt;&lt;td 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;81&lt;/font&gt;&lt;/td&gt;&lt;td 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;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;color:#000000;' &gt;Fair value changes of debt instruments measured 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;font-weight:bold;color:#004481;' &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;70&lt;/font&gt;&lt;/td&gt;&lt;td 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;(130)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:255,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;622&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;1.134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;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;710&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Condensed income statement&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt; of companies held for sale in the United States subsidiary &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;for the years ended&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt; December 31, 2020, 2019 and 2018&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:497,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:497,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#5AC4C4;' &gt;CONDENSED INCOME STATEMENTS (Millions of Euros)&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:right;vertical-align:middle;border-color:Black;min-width:266,25pt;' &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: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:7pt;font-weight:bold;color:#072146;' &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:7pt;font-weight:bold;color:#072146;' &gt;2020&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:7pt;font-weight:bold;color:#072146;' &gt;2019&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: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: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:7pt;color:#000000;' &gt;Interest and other income&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:7pt;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:7pt;color:#000000;' &gt;2.638&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:7pt;color:#000000;' &gt;3.221&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:7pt;color:#000000;' &gt;2.797&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:7pt;color:#000000;' &gt;Interest 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:7pt;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:7pt;color:#000000;' &gt;(429)&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:7pt;color:#000000;' &gt;(887)&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:7pt;color:#000000;' &gt;(570)&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:7pt;font-weight:bold;color:#004481;' &gt;NET INTEREST INCOME&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;2.209&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:7pt;font-weight:bold;color:#004481;' &gt;2.335&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:7pt;font-weight:bold;color:#004481;' &gt;2.227&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:7pt;color:#000000;' &gt;Dividend income &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:7pt;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:7pt;color:#000000;' &gt;4&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:7pt;color:#000000;' &gt;10&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:7pt;color:#000000;' &gt;13&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:7pt;color:#000000;' &gt;Fee and commission income &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:7pt;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:7pt;color:#000000;' &gt;677&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:7pt;color:#000000;' &gt;736&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:7pt;color:#000000;' &gt;670&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:7pt;color:#000000;' &gt;Fee and commission 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:7pt;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:7pt;color:#000000;' &gt;(183)&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:7pt;color:#000000;' &gt;(205)&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:7pt;color:#000000;' &gt;(194)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;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:57,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;19&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:7pt;color:#000000;' &gt;54&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:7pt;color:#000000;' &gt;25&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:7pt;color:#000000;' &gt;Gains (losses) on financial assets and liabilities held for trading, net&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:7pt;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:7pt;color:#000000;' &gt;90&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:7pt;color:#000000;' &gt;30&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:7pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;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:57,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;8&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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;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:57,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;3&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:7pt;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:7pt;color:#000000;' &gt;Gains (losses) from hedge accounting, net &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:7pt;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:7pt;color:#000000;' &gt;4&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:7pt;color:#000000;' &gt;4&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:7pt;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:7pt;color:#000000;' &gt;Exchange differences, net&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:7pt;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:7pt;color:#000000;' &gt;19&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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;(22)&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:7pt;color:#000000;' &gt;Other operating income &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:7pt;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:7pt;color:#000000;' &gt;19&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:7pt;color:#000000;' &gt;32&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:7pt;color:#000000;' &gt;20&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:7pt;color:#000000;' &gt;Other operating 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:7pt;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:7pt;color:#000000;' &gt;(63)&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:7pt;color:#000000;' &gt;(64)&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:7pt;color:#000000;' &gt;(79)&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:7pt;font-weight:bold;color:#004481;' &gt;GROSS INCOME&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;2.808&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:7pt;font-weight:bold;color:#004481;' &gt;2.941&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:7pt;font-weight:bold;color:#004481;' &gt;2.731&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:7pt;color:#000000;' &gt;Administration costs&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:7pt;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:7pt;color:#000000;' &gt;(1.462)&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:7pt;color:#000000;' &gt;(1.534)&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:7pt;color:#000000;' &gt;(1.474)&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:7pt;color:#000000;' &gt;Depreciation and amortization&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:7pt;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:7pt;color:#000000;' &gt;(205)&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:7pt;color:#000000;' &gt;(214)&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:7pt;color:#000000;' &gt;(174)&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:7pt;color:#000000;' &gt;Provisions or reversal of provisions&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:7pt;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:7pt;color:#000000;' &gt;2&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:7pt;color:#000000;' &gt;(3)&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:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;color:#000000;' &gt;Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification&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:7pt;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:7pt;color:#000000;' &gt;(729)&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:7pt;color:#000000;' &gt;(521)&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:7pt;color:#000000;' &gt;(221)&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:7pt;font-weight:bold;color:#004481;' &gt;NET OPERATING INCOME&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;413&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:7pt;font-weight:bold;color:#004481;' &gt;670&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:7pt;font-weight:bold;color:#004481;' &gt;884&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;color:#000000;' &gt;Impairment or reversal of impairment on non-financial assets&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:7pt;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:7pt;color:#000000;' &gt;(2.084)&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:7pt;color:#000000;' &gt;(1.318)&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:7pt;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:7pt;color:#000000;' &gt;Gains (losses) on derecognition of non-financial assets and subsidiaries, net&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:7pt;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:7pt;color:#000000;' &gt;(3)&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:7pt;color:#000000;' &gt;2&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:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;color:#000000;' &gt;Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations  &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:7pt;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:7pt;color:#000000;' &gt;2&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:7pt;color:#000000;' &gt;(2)&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:7pt;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:7pt;font-weight:bold;color:#004481;' &gt;PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;(1.671)&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:7pt;font-weight:bold;color:#004481;' &gt;(648)&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:7pt;font-weight:bold;color:#004481;' &gt;881&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:7pt;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: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:7pt;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;text-align:right;vertical-align:middle;border-color:Black;min-width:57,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(57)&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:7pt;color:#000000;' &gt;(110)&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:7pt;color:#000000;' &gt;(177)&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:7pt;font-weight:bold;color:#004481;' &gt;PROFIT (LOSS) AFTER TAX FROM CONTINUING OPERATIONS&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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;(1.729)&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:7pt;font-weight:bold;color:#004481;' &gt;(758)&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:7pt;font-weight:bold;color:#004481;' &gt;704&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:266,25pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;PROFIT (LOSS) FOR THE PERIOD&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(1.729)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;704&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;background-color:#5AC4C4;border-color:Black;min-width:266,25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;ATTRIBUTABLE TO OWNERS OF THE PARENT&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(1.729)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;704&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Condensed statements of cash flows of companies held for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;sale in the United States subsidiary for the years ended December 31, 2020, 2019 and 2018&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:396,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:396,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#5AC4C4;' &gt;CONDENSED STATEMENTS OF CASH FLOWS (Millions of Euros)&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:right;vertical-align:middle;border-color:Black;min-width:213,75pt;' &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-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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: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:7pt;font-weight:bold;color:#072146;' &gt;2020&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:7pt;font-weight:bold;color:#072146;' &gt;2019&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: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: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:7pt;color:#000000;' &gt;A) CASH FLOWS FROM OPERATING ACTIVITIES&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: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:7pt;color:#000000;' &gt;6.874&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:7pt;color:#000000;' &gt;3.888&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:7pt;color:#000000;' &gt;(228)&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:7pt;color:#000000;' &gt;B) CASH FLOWS FROM INVESTING ACTIVITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;(145)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;(123)&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:7pt;color:#000000;' &gt;C) CASH FLOWS FROM FINANCING ACTIVITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &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:7pt;color:#000000;' &gt;(468)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(256)&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:7pt;color:#000000;' &gt;D) EFFECT OF EXCHANGE RATE CHANGES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;(974)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &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:7pt;color:#000000;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:213,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(INCREASE/DECREASE) NET CASH AND CASH EQUIVALENTS (A+B+C+D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;5.690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;3.352&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;(522)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;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;Non-current &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt; 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 changes in the balances of &amp;#8220;Non-current assets and disposal &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;groups classified as held for sale&amp;#8221; in 2020, 2019 and 2018 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:11,25pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:615pt;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;Non-current assets and disposal groups classified as held for sale. Changes in the year 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25,5pt;' &gt;&lt;td style='width:229,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:229,5pt;' &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:center;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-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Foreclosed assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;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;Property, Plant and Equipment (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;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:#072146;' &gt;Companies held for sale (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;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;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Cost (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &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: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:#000000;' &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:#000000;' &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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:229,5pt;border-top-style:solid;border-top-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;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;border-top-style:solid;border-top-width:1;text-align:center;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;text-align:center;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;1.648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;258&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;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;1.716&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;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;3.622&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&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;83.266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83.551&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(288)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(45)&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;(190)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(523)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Transfers, other movements and exchange differences (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(228)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;180&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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(48)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Disposals by companies held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:center;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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;(21)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:229,5pt;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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;text-align:center;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;1.398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:center;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;84.792&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;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;86.581&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:229,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:229,5pt;' &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:69,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Impairment (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &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:90pt;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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;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:#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;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:229,5pt;border-top-style:solid;border-top-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;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;border-top-style:solid;border-top-width:1;text-align:center;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;text-align:center;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;411&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;132&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;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;-&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;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;543&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86,25pt;' &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;103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(69)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60&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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;18&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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:8pt;color:#000000;' &gt;Disposals by companies held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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:center;vertical-align:middle;border-color:Black;min-width:69,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:229,5pt;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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;text-align:center;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;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:center;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;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;594&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:229,5pt;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;Balance at the end of net carrying value (1)-(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;text-align:center;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;text-align:center;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;1.012&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;183&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86,25pt;text-align:center;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;84.792&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69,75pt;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;85.987&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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 accumulated amortization until assets were reclassified as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;&amp;#8220;Non-current assets and disposal groups classified as held for sale&amp;#8221;&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;(** )      &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 agreement for the sale of BBVA USA (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:11,25pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:616,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:616,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:33,75pt;' &gt;&lt;td style='width:240pt;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;&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:#072146;' &gt;Notes&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:#072146;' &gt;Foreclosed assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Property, Plant and Equipment (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;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:8pt;font-weight:bold;color:#072146;' &gt;Companies held for sale (**)&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:#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-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;Cost (1)&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:#000000;' &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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:81,75pt;' &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: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:8pt;font-weight:bold;color:#000000;' &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:#000000;' &gt;&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: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;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;border-top-style:solid;border-top-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;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;2.211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;389&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:94,5pt;' &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:66,75pt;border-top-style:solid;border-top-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;2.629&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Additions &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:#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;665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.676&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;2.351&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Contributions from merger transactions&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:#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;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Retirements (sales and other decreases)&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:#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;(1.023)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(206)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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;(1.229)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Transfers, other movements and exchange differences (**)&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:#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;(207)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(131)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:240pt;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;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;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;1.648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1.716&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;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;3.622&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:240pt;' &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: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:#094FA4;' &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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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-weight:bold;color:#004481;' &gt;Impairment (2)&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:#000000;' &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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:81,75pt;' &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:94,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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: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-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:240pt;border-top-style:solid;border-top-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;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;border-top-style:solid;border-top-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;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;504&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:81,75pt;' &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:94,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:94,5pt;' &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:66,75pt;border-top-style:solid;border-top-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;628&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Additions &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:#000000;' &gt;50&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;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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;72&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Additions transfer to discontinued operations&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:#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;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Retirements (sales and other decreases)&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:#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;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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;(186)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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 movements and exchange differences&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:#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;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:94,5pt;' &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;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:240pt;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;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;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;411&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:81,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:94,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:94,5pt;' &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:66,75pt;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;543&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:240pt;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;Balance at the end of net carrying value (1)-(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;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;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;1.237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:81,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:81,75pt;' &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:94,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:94,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1.716&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;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;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;         &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Net of accumulated amortization until assets were reclassified as &amp;#8220;Non-current assets and disposal groups classified as held for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;sale&amp;#8221;&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: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;The variation corresponds mainly to the BBVA&amp;#8217;s stake in BBVA Paraguay (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:11,25pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:552,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:552,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Non-current assets and disposal groups classified as held for sale. Changes in the year 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33,75pt;' &gt;&lt;td style='width:271,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:271,5pt;' &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;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;Notes&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;Foreclosed assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align: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;From own use assets &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: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;Companies held for sale (**)&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;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;font-weight:bold;color:#004481;' &gt;Cost (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:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:271,5pt;border-top-style:solid;border-top-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;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;text-align:center;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;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;6.207&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;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;371&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;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;18.623&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;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;25.201&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:center;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;692&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;696&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:center;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;(4.489)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;(18.594)&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;(23.310)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Transfers, other movements and exchange differences (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:center;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;(199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;241&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:271,5pt;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:center;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;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;2.211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;389&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;2.629&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:271,5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:271,5pt;' &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:56,25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;td style='width:56,25pt;text-align: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:11,25pt;' &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;font-weight:bold;color:#004481;' &gt;Impairment (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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:#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;font-weight:bold;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;font-weight:bold;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;font-weight:bold;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;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:271,5pt;border-top-style:solid;border-top-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;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;text-align:center;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;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;1.154&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;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;194&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;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;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;1.348&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:center;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;204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;td style='width:56,25pt;text-align: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;206&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Additions transfer to discontinued operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:center;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;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:center;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;(830)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;(931)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &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;Other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:center;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;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:271,5pt;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:center;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;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;504&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;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;628&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:271,5pt;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;Balance at the end of net carrying value (1)-(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:center;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;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;1.707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;2.001&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 accumulated amortization unt&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;il assets were reclassified as &amp;#8220;Non-current assets and disposal groups classified as held for sale&amp;#8221;&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;(** )       &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 indicated in Note 2.2.4, &amp;#8220;Non-current assets and disposal grou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ps 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;carrying amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. As of December 31, 2020, 2019 and 2018 practically all of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:0pt;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;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, 2020, 2019 and 2018, assets from foreclosures and recoveries, net of impairment losses,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; by nature of the asset, amounted to &amp;#8364;747, &amp;#8364;871 and &amp;#8364;1,072 million in assets for residential use; &amp;#8364;215, &amp;#8364;259 and &amp;#8364;182 million in assets for tertiary use (industrial, commercial or office) and &amp;#8364;21, &amp;#8364;28 and &amp;#8364;19 million in assets for agricultural use, respect&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ively.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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, 2020, 2019 and 2018, 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 2020, 2019 and 2018, some of the sale transactions for these assets were financed by Group companies. Th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e amount of loans granted to the buyers of these assets in those years amounted to &amp;#8364;78, &amp;#8364;79 and &amp;#8364;82 million, respectively; with an average financing of 28.3% of the sales price during 2020.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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, 2020, 2019 and 2018, the amount of the profits &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;arising from the sale of assets financed by Group companies that are not recognized in the consolidated income statement amounted to &amp;#8364;1 million.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory>
  <bbva:Disclosureoffinancialliabilitiesatamortizedcostexplanatory id="ID_10721" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;22. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.1. &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: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='5' rowspan='1' style='width:402,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:402,75pt;' &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: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: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;font-weight:bold;color:#072146;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;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: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;Deposits&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;415.467&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;438.919&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;435.229&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;color:#000000;' &gt;Deposits from central banks&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;45.177&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;25.950&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;27.281&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;color:#666666;' &gt;Demand deposits&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;&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;163&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;23&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;20&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;color:#666666;' &gt;Time deposits and other&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;&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;38.274&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;25.101&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;26.885&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,75pt;' &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;color:#666666;' &gt;Repurchase agreements (*)&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;&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;6.740&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;826&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;375&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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;Deposits from credit institutions&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;27.629&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;28.751&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;31.978&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;color:#666666;' &gt;Demand deposits&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;&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;7.196&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;7.161&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;8.370&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;color:#666666;' &gt;Time deposits and other &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;&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;16.079&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:#666666;' &gt;18.896&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;19.015&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;color:#666666;' &gt;Repurchase agreements (*)&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;&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;4.354&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;2.693&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;4.593&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;color:#000000;' &gt;Customer deposits (**)&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;342.661&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;384.219&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;375.970&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;color:#666666;' &gt;Demand deposits&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;&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;266.250&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:#666666;' &gt;280.391&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;260.573&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;color:#666666;' &gt;Time deposits and other &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;&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;75.666&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;103.293&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;114.188&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;color:#666666;' &gt;Repurchase agreements (*)&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;&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;746&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;535&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;1.209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Debt certificates&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;61.780&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;63.963&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;61.112&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;color:#000000;' &gt;Other financial liabilities&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;13.358&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;13.758&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;12.844&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14,25pt;' &gt;&lt;td style='width:171,75pt;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:57,75pt;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;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;490.606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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;516.641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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;509.185&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;(*) See Note 35. &lt;/font&gt;&lt;/p&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;(**) Amount in 2020 is mainly due to the stake in BBVA USA (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 amount recorded in Deposits from central banks - Time deposits includes the provisions of the TLTRO III facilities of the European Central Bank, mainl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y BBVA S.A. amounting to &amp;#8364;35,032 million as of December 31, 2020, that basically explains the change compared to the previous year (see Note 7.5).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 April 30, 2020, the European Central Bank modified some of the terms and conditions of the TLTRO III facil&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ities in order to support the continued access of companies and households to bank credit in the face of interruptions and temporary shortages of funds associated with the COVID-19 pandemic. Entities whose eligible net lending exceeds 0% between March 1, 2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;020 and March 31, 2021 will pay an interest rate 0.5% lower than the average rate of the deposit facilities during the period that includes from June 24, 2020 to June 23, 2021. This means that the interest rate applicable to the facilities drawn down is -1&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;%. Outside of this period, the average interest rate of the deposit facilities will be applied (currently -0.5%) provided that the financing objectives are met according to the conditions of the European Central 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;The Group is reasonably certain about &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the fulfillment of these financing objectives. Therefore, the effective interest rate of each facility is -0.5% and the accounting registration of the discount in the interest rate associated with the COVID-19 pandemic is recognized during the annual perio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d from June 24, 2020 to June 23, 2021.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The positive remuneration currently being generated by the drawdowns of the TLTRO III facilities is recorded under the heading of &amp;quot;Interest income and other similar income &amp;#8211; other income&amp;quot; in the consolidated income st&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;atements and amounts to &amp;#8364;211 million as of December 31, 2020 (See Note 37.1).&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:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.2. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;' &gt;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:466,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:466,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#5AC4C4;' &gt;Deposits from credit institutions. December 2020 (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-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: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;font-weight:bold;color:#072146;' &gt;Demand deposits &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;font-weight:bold;color:#072146;' &gt;Time deposits and other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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: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: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;345&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;1.405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.751&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: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;689&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;672&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.549&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: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;8&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;580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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: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: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;557&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;1.484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.041&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: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;2.842&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;4.531&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.070&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11.444&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 the world&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;2.755&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;7.406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.228&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;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:72pt;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;7.196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80,25pt;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;16.079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4.354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;27.629&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;(*)      Subordinated deposits are included amounting &amp;#8364;12 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:483pt;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:#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: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:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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: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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.104&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:177pt;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;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:177pt;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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:177pt;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;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:177pt;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;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;394&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:177pt;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;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.652&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:177pt;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;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:177pt;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:76,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:76,5pt;' &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:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)      Subordinated deposits 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:483pt;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:#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: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:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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: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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:12pt;' &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:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:12pt;' &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:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;280&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:12pt;' &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:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;669&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:12pt;' &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:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:12pt;' &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:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:12pt;' &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:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:76,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:76,5pt;' &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:12pt;' &gt;&lt;td style='width:177pt;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:76,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:76,5pt;' &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:76,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:76,5pt;' &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;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;      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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.3. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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:475,5pt;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:#5AC4C4;' &gt;Customer deposits. December 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40,5pt;' &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:87,75pt;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;Demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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;Time deposits and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;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;Total&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:middle;border-color:Black;min-width:124,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;168.690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;20.065&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;188.757&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:middle;border-color:Black;min-width:124,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43.768&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.514&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54.398&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:middle;border-color:Black;min-width:124,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.906&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34.621&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:middle;border-color:Black;min-width:124,5pt;' &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:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25.730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11.259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36.989&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:middle;border-color:Black;min-width:124,5pt;' &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:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.435&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21.427&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:middle;border-color:Black;min-width:124,5pt;' &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:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.720&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.748&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.468&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:124,5pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;266.250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;75.666&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;746&lt;/font&gt;&lt;/td&gt;&lt;td style='width:87,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;342.661&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:471pt;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 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-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-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-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 and other (*)&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;font-weight:bold;color:#072146;' &gt;Repurchase agreements&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;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;146.651&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;24.958&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&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;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: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;46.372&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;19.810&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;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: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;43.326&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;12.714&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;523&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;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: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;13.775&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;22.257&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;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:#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: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;22.748&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;13.913&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;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: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;6.610&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;8.749&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;15.360&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 the world&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;909&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;892&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;1.801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:156pt;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;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;280.391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78,75pt;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;103.293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78,75pt;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;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78,75pt;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;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:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &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:471pt;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 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-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-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-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 and other (*)&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;font-weight:bold;color:#072146;' &gt;Repurchase agreements&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;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;138.236&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;28.165&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&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;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: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;41.222&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;21.317&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;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: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;38.383&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;11.837&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;770&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;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: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;10.856&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;22.564&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;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:#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: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;23.811&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;14.159&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;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: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;7.233&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;14.415&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;429&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;22.077&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 the world&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;831&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;1.731&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;2.563&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:156pt;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;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;260.573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78,75pt;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;114.188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78,75pt;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;1.209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78,75pt;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;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:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &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;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;22.4. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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 instruments 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:13pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:419,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:419,25pt;' &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:21pt;' &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-weight:bold;color:#0A5FB4;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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:#004481;' &gt;In 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:#004481;' &gt;42.462&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;40.185&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;37.436&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Promissory bills and notes&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;860&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;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;267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Non-convertible bonds and debentures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14.538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.638&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Covered bonds (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.274&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.542&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.809&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Hybrid 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;355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;814&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Securitization bonds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.630&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.331&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.566&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.968&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.136&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Convertible perpetual 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:#666666;' &gt;4.500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.490&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Non-convertible 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:#666666;' &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:#666666;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;107&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Other non-convertible subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;3.907&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;2.885&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;3.540&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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-weight:bold;color:#004481;' &gt;In foreign currencies&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-weight:bold;color:#004481;' &gt;19.318&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-weight:bold;color:#004481;' &gt;23.778&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-weight:bold;color:#004481;' &gt;23.676&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Promissory bills and notes&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;1.024&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;1.210&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;3.237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Non-convertible bonds and debentures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Covered bonds (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;217&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;569&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Hybrid 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;455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.156&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.455&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Securitization bonds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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:13pt;' &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;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;780&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:13pt;' &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;Subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.911&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.666&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.499&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Convertible perpetual 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:#666666;' &gt;1.633&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;1.782&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:#666666;' &gt;873&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Non- convertible 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:#666666;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;74&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Other non-convertible subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;6.243&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;7.808&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;7.552&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:234,75pt;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;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;61.780&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;63.963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;61.112&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;(*) Including mortgage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;-covered bonds&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;.&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:6pt;margin-left:0pt;' &gt;(**)  Corresponds to the issuance of structured notes whose underlying risk differs from the underlying risk of the derivative.&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;Most of the foreign currency issues are denominated in U.S. dollars.&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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.4.1. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;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:9pt;margin-left:0pt;' &gt;The breakdown of this &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;' &gt;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:13pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:461,25pt;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:8pt;color:#02A5A5;' &gt;Memorandum item: Subordinated liabilities at amortized cost &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:right;vertical-align:middle;border-color:Black;min-width:276,75pt;' &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: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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;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;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;12&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;/tr&gt;&lt;tr style='height:13pt;' &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;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;16.476&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&lt;tr style='height:13pt;' &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;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;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&lt;tr style='height:13pt;' &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;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;6.133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&lt;tr style='height:13pt;' &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;Other non-convertible subordinated liabilities (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:276,75pt;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:61,5pt;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;16.488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Subordinated issues of BBVA Paraguay as of December 31, 2020 and 2019 are recorded in the consolidated balance sheet under the heading &amp;#8220;Liabilities included in disposal groups classified as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;held for sale&amp;quot; amounting to &amp;#8364;37 and &amp;#8364;40 million, respectively. The subordinated issues of BBVA USA as of December 31, 2020 are recognized in the consolidated balance sheet under the heading &amp;#8220;Liabilities included in disposal groups classified as held for sa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;le&amp;quot; amounting to &amp;#8364;735 million (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;color:#000000;' &gt;The issuances of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA International Preferred, S.A.U., Ltd., Caixa Terrassa Societat de Participacions Preferents, S.A.U. and CaixaSabadell Preferents, S.A.U.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; are jointly, severally and irrevocably guaranteed by&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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;color:#000000;' &gt;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 authority to the Board of Directors to issue securities &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 billion or its equivalent in any other currency. L&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ikewise, 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 convertible securities, although this power was limited to&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;enable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the nominal amount of the capital increases resolved or effectively carried out for conversion of mandatory convertible issuances made under this authority (without prejudice to anti-dilution adjustments), with exclusion of pre-emptive subscription&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 nom&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;inal 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 following issuances that qualify as additional tier 1 capital&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the Bank and the Group in accordance with Regulation (EU) 575/2013:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;In May and November 2017, BBVA carried out two issues of perpetually convertible securities (additional Tier 1 capital instruments) excluding shareholders&amp;#39; pre-emptive rights, for a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;nominal amount of 500 million euros and 1,000 million U.S. dollars, respectively. These issues are listed on the Global Exchange Market of Euronext Dublin of the Irish Stock Exchange and were directed only to qualified investors and foreign private banking&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; clients, and cannot be placed or subscribed in Spain or among investors resident in Spain.&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 September 2018 and March 2019, BBVA carried out both issuances of perpetual contingent convertible securities (additional tier 1 instruments), with exclusion of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;pre-emptive subscription rights of shareholders, for a total nominal amount of &amp;#8364;1 billion each. These issuances are listed in the AIAF Fixed Income Securities Market and were targeted only at professional clients and eligible counterparties, not being offe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;red or sold to any retail clients. &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;On September 5, 2019, BBVA carried out an issuance of perpetual contingent convertible securities (additional tier 1 instruments), with exclusion of pre-emptive subscription rights of shareholders, for a total nominal am&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ount of $1 billion. 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. &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;On July 15, 2020, BBVA carried&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; out an issuance of perpetual contingent convertible securities (additional tier 1 instruments), with exclusion of pre-emptive subscription rights of shareholders, for a total nominal amount of &amp;#8364;1 billion. This issuance is listed in the AIAF Fixed Income S&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ecurities Market and was targeted only at professional clients and eligible counterparties, not being offered or sold to any retail clients.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;Additionally, an issue of perpetually convertible securities (additional Tier 1 capital instruments) is outstanding&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, which was carried out in April 2016, for an amount of 1,000 million euros, by virtue of previous delegations of the shareholders&amp;#39; meeting. This issue was directed only to qualified investors and foreign private banking clients, and cannot be placed or su&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;bscribed in Spain or among investors residing in Spain. This issue is listed on the Global Exchange Market of Euronext Dublin of the Irish Stock Exchange and is computed as additional Tier 1 capital of the Bank and the Group, in accordance with Regulation &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(EU) 575/2013.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 may be fully redeemed at BBVA&amp;#8217;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:&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;On May 9, 2018, the Bank early &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;redeemed the issuance of contingently convertible preferred securities (additional tier 1 instruments) carried out by the Bank on May 9, 2013, for an amount of $1.5 billion on the First Reset Date of the issuance and once the prior consent from the Regulat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;or had 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;color:#000000;' &gt;On February 19, 2019 the Bank early redeemed the issuance of contingently convertible preferred securities (additional tier 1 instruments), carried out by the Bank on February 19, 2014, for a total amount of &amp;#8364;1.5 billion and once the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; prior consent from the Regulator had 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;color:#000000;' &gt;On February 18, 2020, the Bank early redeemed the issuance of contingently convertible preferred securities (additional tier 1 instruments) carried out by the Bank on February 18, 2015, for an amount of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8364;1.5 billion on the First Reset Date of the issuance and once the prior consent from the Regulator had been obtained.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:8pt;line-height:12,95pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;margin-left:0pt;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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;P&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;referred securities&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The breakdown by issuer of the balance under this heading in the accompanying consolidated balance sheets is as follo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ws:&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:13pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:487,5pt;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:13pt;' &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;font-weight:bold;color:#44546A;' &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;font-weight:bold;color:#004481;' &gt;2020&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;font-weight:bold;color:#004481;' &gt;2019&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;font-weight:bold;color:#004481;' &gt;2018&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;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;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;/tr&gt;&lt;tr style='height:13,5pt;' &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;159&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;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;/tr&gt;&lt;tr style='height:13pt;' &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;-&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:13pt;' &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;-&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;/tr&gt;&lt;tr style='height:13pt;' &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;Other&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;-&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;-&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;9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:255,75pt;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;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;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77,25pt;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;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;/tr&gt;&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;A breakdown of the maturity of the lease liabilities, due after December 31, 2020 is provided below:&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:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(1) Call exercised. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:3pt;margin-bottom:10pt;line-height:13,8pt;' &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;p style='text-align:justify;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 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 is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;suance 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;margin-left:0pt;' &gt;In connection with the above, once the necessary authorization from the European Central Bank was received and in conformity with its authority to redeem:&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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; Extraordinary&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; and Universal General Meeting of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Caixasabadell Preferents, S.A. Unipersonal, at its meeting held on December 11, 2020, decided to delegate on the company&amp;#8217;s Board of Directors the authority to agree on the total early redemption of its only live issuance, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;subject to the applicable legal provisions and having previously obtained all necessary authorisations. In use of such delegation, having satisfied all legal and contractual formalities required and having obtained all relevant authorizations, the company&amp;#8217;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;s Board of Directors, on the same date, agreed to carry out the early redemption of the total nominal amount of the issuance on January 14, 2021. As a result, once all necessary communications were released, on January 14, 2021 the total early redemption o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;f the issuance took place.&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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; Extraordinary and Universal General Meeting of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA International Preferred, S.A. Unipersonal, at its meeting held on December 11, 2020, decided to delegate on the company&amp;#8217;s Board of Directors the authority to agree on the to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;tal early redemption of its only live issuance, subject to the applicable legal provisions and having previously obtained all necessary authorisations. In use of such delegation, having satisfied all legal and contractual formalities required and having ob&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;tained all relevant authorizations, the company&amp;#8217;s Board of Directors, on the same date, agreed to carry out the early redemption of the total nominal amount of the issuance on January 19, 2021. As a result, once all necessary communications were released, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;on January 19, 2021 the total early redemption of the issuance took place.&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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; Extraordinary and Universal General Meeting of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Caixa Terrassa Societat de Participacions Preferents, S.A. Unipersonal, at its meeting held on December 11, 2020, decided to deleg&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ate on the company&amp;#8217;s Board of Directors the implementation of all necessary actions in order to modify its only live issuance so as to include a new clause regarding the early redemption of the preferred securities. In use of the delegated authority and ha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ving obtained all necessary authorizations, the company&amp;#8217;s Board of Directors, on the same date, agreed to modify the relevant issuance in order to include a new clause for the total early redemption of the preferred securities on January 29, 2021, therefor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;e convening the relevant meeting of noteholders of the issuance to be held in Bilbao, on January 14, 2021, at first call, or on January 15, 2021, at second call. Having satisfied all applicable legal requirements, the noteholders&amp;#8217; meeting was held at first&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; call and passed, with the necessary majority of votes, among other resolutions, the inclusion of a new total early redemption clause. As a result, on January 29, 2021 the total early redemption of the issuance took place.&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:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.5. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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 breakdown of the balance under this heading in the accompanying consolidate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d 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:440,25pt;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;Other financial liabilities (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25pt;' &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;font-weight:bold;color:#0A5FB4;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;Lease liabilities&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;2.674&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;3.335&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;background-color:#E9E9E9;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: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;Creditors for other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.408&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.891&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;Collection accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.275&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.305&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;Creditors for other payment obligations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.648&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;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;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;13.358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;13.758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;12.844&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11,25pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:447,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:447,75pt;' &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-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:5,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:5,25pt;' &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: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;font-weight:bold;color:#072146;' &gt;Up to 1 year&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;font-weight:bold;color:#072146;' &gt;1 to 3 years&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;font-weight:bold;color:#072146;' &gt;3 to 5 years&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;font-weight:bold;color:#072146;' &gt;Over 5 years&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;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:5,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:5,25pt;' &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;244&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;430&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;397&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;1.602&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;2.674&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoffinancialliabilitiesatamortizedcostexplanatory>
  <bbva:Financialinstrumentsvaluationmethodsassets id="ID_10722" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_bbva_DescriptionofvaluationtechniquesusedinfairvaluemeasurementassetsMember">Present-value method
(Discounted future cash flows)</bbva:Financialinstrumentsvaluationmethodsassets>
  <bbva:Maininputsusedinfinancialinstrumentsassets id="ID_10723" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CounterpartiesbylevelsaxisAxis_bbva_CentralbanksMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_bbva_DescriptionofinputsusedinfairvaluemeasurementassetsMember">- Credit spread
- Prepayment rates
- Interest rate yield</bbva:Maininputsusedinfinancialinstrumentsassets>
  <bbva:Maininputsusedinfinancialinstrumentsassets id="ID_10724" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CounterpartiesbylevelsaxisAxis_bbva_LoansandadvancestocreditinstitutionsMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_bbva_DescriptionofinputsusedinfairvaluemeasurementassetsMember">- Credit spread
- Prepayment rates
- Interest rate yield</bbva:Maininputsusedinfinancialinstrumentsassets>
  <bbva:Maininputsusedinfinancialinstrumentsassets id="ID_10725" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CounterpartiesbylevelsaxisAxis_bbva_CustomersMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_bbva_DescriptionofinputsusedinfairvaluemeasurementassetsMember">- Credit spread
- Prepayment rates
- Interest rate yield</bbva:Maininputsusedinfinancialinstrumentsassets>
  <bbva:Maininputsusedinfinancialinstrumentsassets id="ID_10726" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_CounterpartiesbylevelsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_bbva_DescriptionofinputsusedinfairvaluemeasurementassetsMember">- Credit spread
- Interest rate yield</bbva:Maininputsusedinfinancialinstrumentsassets>
  <bbva:Financialinstrumentsvaluationmethodsliabilities id="ID_10727" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesliabilitiesclassesofassetsaxisAxis_bbva_FinancialliabilitiesatamortizedcostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesliabilitiesleveloffairvalueaxisAxis_bbva_DescriptionofvaluationtechniquesusedinfairvaluemeasurementassetsMember">Present-value method
(Discounted future cash flows)</bbva:Financialinstrumentsvaluationmethodsliabilities>
  <bbva:Maininputsusedinfinancialinstrumentsliabilities id="ID_10728" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesliabilitiesclassesofassetsaxisAxis_bbva_FinancialliabilitiesatamortizedcostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesliabilitiesleveloffairvalueaxisAxis_bbva_DescriptionofinputsusedinfairvaluemeasurementliabilitiesMember">- Issuer&#180;s credit risk
- Prepayment rates
- Interest rate yield</bbva:Maininputsusedinfinancialinstrumentsliabilities>
  <bbva:Disclosureofliabilitiesunderinsurancecontractsandreinsurancecontractsissuedexplanatory id="ID_10729" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;23. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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 is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;life insurance to cover the risk of death (risk insurance) and life-savings insurance. Within life and accident insurance, a distinction is made between freely sold products and those offered to customers who have taken mortgage or consumer loans, which co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ver 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 out b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y 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 methodology f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or risk measurement applied in the insurance activity is similar (see Note 7), although it has a differentiated management due to the particular characteristics of the insurance business, such as the coverage of contracted obligations and the long term of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 such &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hat 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 accompany&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ing 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 technica&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;l provisions recognized by the consolidated insurance subsidiaries. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;As of December 31, 2020, 2019 and 2018, the balance under this heading amounted to &amp;#8364;306 million, &amp;#8364;341 million and &amp;#8364;366 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;consolidated 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 he&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ading 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:492,75pt;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-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-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-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-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;/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;8.731&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;/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;6.268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/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;5.431&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/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;836&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/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;2.463&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/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;2.298&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/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;165&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;/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;672&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;Provisions for unexpired risks and other provisions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;548&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:324pt;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;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;9.951&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;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;/tr&gt;&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;sup&gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;          &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Provides coverage in the event of death or disability.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(2)&lt;/font&gt;&lt;/sup&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 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;Liabilities under insurance and 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:504,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:504,75pt;' &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-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:64,5pt;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;Up to 1 year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;3 to 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;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;2020&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;1.227&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;950&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;1.616&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;6.158&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;9.951&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;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.571&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.197&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.806&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;6.032&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;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:64,5pt;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;1.686&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.822&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;5.285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;9.834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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 tec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hniques approved by the respective country&amp;#8217;s insurance regulator or supervisor. The most important insurance entities are located in Spain and Mexico (which together account for approximately 96% of the insurance revenues), where the modeling methods and t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;echniques 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 insu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rance 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 &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; this technical interest rate, asset-li&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ability management is carried out, acquiring a portfolio of securities 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, 2020, used in the calculat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ion of the mathematical reserves for insurance products in Spain and Mexico, 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='13' rowspan='1' style='width:1191,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:1191,75pt;' &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:111,75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:360pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:360pt;' &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 colspan='4' rowspan='1' style='width:360pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:360pt;' &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:360pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:360pt;' &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:12pt;' &gt;&lt;td style='width:111,75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' 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:8pt;font-weight:bold;color:#072146;' &gt;Mortality table&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' 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:8pt;font-weight:bold;color:#072146;' &gt;Average technical interest type&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' 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:8pt;font-weight:bold;color:#072146;' &gt;Mortality table&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' 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:8pt;font-weight:bold;color:#072146;' &gt;Average technical interest type&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' 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:8pt;font-weight:bold;color:#072146;' &gt;Mortality table&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' 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: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:111,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:111,75pt;' &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: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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td 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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td 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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td 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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td 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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td 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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td 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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td 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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td 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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td 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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td 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;Spain&lt;/font&gt;&lt;/td&gt;&lt;td 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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:63,6pt;' &gt;&lt;td style='width:111,75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Individual life insurance &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7,7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GRMF 80-2, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GKM 80 / GKMF 95, PASEM,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GKMF 80/95,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PERFM 2000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.25% -2.87%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GRMF 80-2, GKM 80 / GKMF 95&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PERMF 2000&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PASEM&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.26%-3.27%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:52,5pt;' &gt;&lt;td style='width:111,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group insurance&lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7,7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PERFM 2000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PERMF 2000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:90pt;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &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:13,8pt;' &gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;          &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;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:13,8pt;' &gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; &lt;/font&gt;&lt;/sup&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;         &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Insurance policies &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;purchased by companies (other than BBVA Group entities) on behalf of their employees.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofliabilitiesunderinsurancecontractsandreinsurancecontractsissuedexplanatory>
  <bbva:Disclosureofprovisions id="ID_10730" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;24. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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 ty&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;pe 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:13pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:534,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:534,75pt;' &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:21pt;' &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;font-weight:bold;color:#44546A;' &gt;&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;font-weight:bold;color:#072146;' &gt;Notes&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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Provisions for pensions and similar obligations&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;25&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;4.272 &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;4.631&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;4.787&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Other long term employee benefits&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;49 &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;61&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:13pt;' &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;Provisions for taxes and other legal contingencies&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;612 &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;677&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;686&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Provisions for contingent risks and commitments&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;728 &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;711&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;636&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;Other provisions (*)&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;479 &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;457&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;601&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &gt;&lt;td style='width:297,75pt;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:59,25pt;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;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;6.141 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;6.538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;6.772&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) Individually insignificant provisions or contingencies, for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;various concepts in different geographies.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:8pt;line-height:12,95pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &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 provisions for pensions and similar obligations for the years ended December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 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; 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;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-bottom-style:solid;border-bottom-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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;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;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;&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;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;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;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;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;Add&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;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;298&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;327&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;125&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;44&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;63&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;77&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;49&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;49&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;/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:8pt;color:#000000;' &gt;205&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;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:8pt;color:#000000;' &gt;(10)&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;&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;191&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;/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;sup&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(2)&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;&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;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;(29)&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;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#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;(654)&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;/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;Employer contributions&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;(124)&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;(103)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;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;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;4.272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59,25pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='display:flex;margin-left:0pt;text-align:justify;margin-top:12pt;margin-bottom:0pt;' &gt;&lt;span style='min-width:18pt;text-align:right;font-family:Arial;font-size:6pt;' &gt;(1)&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Correspond to actuarial losses (gains) arising from certain&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; post-employment defined-benefit commitments for pensions recognized in &amp;#8220;Equity&amp;#8221; (see Note 2.2.12).&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:0pt;' &gt;&lt;span style='min-width:18pt;text-align:right;font-family:Arial;font-size:6pt;' &gt;(2)&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;It includes the amount of the sale of BBVA&amp;#180;s U.S. subsidiary (see Notes 1.3, 3 and 21).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&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;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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;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;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;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;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;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;Additions&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;555&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;396&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;455&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;(215)&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;/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;Amount used and other variations&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;(383)&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;(453)&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;(410)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:313,5pt;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;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;1.091&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;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;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;/tr&gt;&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:0pt;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 increased regulatory pressure and litigation. In this environment, the various Group entities are often sued on lawsuits and are therefore involved in individual or collective legal proceedings and litigation ar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ising from their activity and operations, including proceedings arising from their lending activity, from their &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;labor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; relations and from other commercial, regulatory or tax issues, as well as in arbitration. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;On the basis of the information available, the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; Group considers that, as of December 31, 2020, the provisions made in relation to judicial proceedings and arbitration, where so required, are adequate and reasonably cover the liabilities that might arise, if any, from such proceedings. Furthermore, on t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he basis of the information available and with the exceptions indicated in Note 7.1 &amp;quot;Risk factors&amp;quot;, BBVA considers that the liabilities that may arise from such proceedings will not have, on a case-by-case basis, a significant adverse effect on the Group&amp;#39;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; business, financial situation or results of operations.&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;font-weight:bold;margin-left:0pt;color:#094580;' &gt;IRPH index &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;In relation to consumer mortgage loan contracts linked to the interest rate index known as IRPH (average rate for mortgage loans over three years for the acquisition of free housing), the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; Spanish Supreme Court issued on 14 December 2017 its judgment 669/2017 confirming that it was not possible to determine the lack of transparency of the interest rate of the loan merely by reference to one or other of the official indexes nor, therefore, w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;as it abuse according to Directive 93/13. In a separate legal proceeding, albeit concerning the same clause, the matter was referred to the Court of Justice of the European Union (the EU Court of Justice), raising a preliminary question in which the applic&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ation of the above referred IRPH index and the decision of the Supreme Court on the matter was questioned again. &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;March &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2020, the EU Court of Justice resolved the referred question for a preliminary ruling.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;In that resolution, the EU Court of Justice&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; concluded that the fact that the main elements relating to the calculation of the saving banks IRPH index used by the bank to which the question referred (Bankia, S&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&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;) were provided in the Bank of Spain Regulation (Circular 8/1990), published in the Span&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ish Official Gazette, which allowed consumers to understand the calculation of such index. In addition, the EU Court of Justice indicated that the national court shall determine whether the bank that is party to this proceeding complied with the applicable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; information obligations under national legislation. In the event that the entity had not complied with the applicable transparency regulations, the EU Court of Justice decision does not declare the contract null and void but provides that the national cou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;rt could replace the IRPH index applied in the case under trial for a substitute index. The resolution sets forth that, in the absence of an agreement to the contrary of the parties to the contract, the referred substitute index could be the IRPH index for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; credit entities in Spain (as established in the fifteenth additional &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;provision of Law 14/2013, of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;September &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2013). &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;On November 13, 2020, the Supreme Court has issued new judgments on which it has again analyzed the legality of the above referred cla&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;use after the EU Court of Justice ruling which indicated that it was up to the national judge to rule on its tr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ansparency and possible abuse. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In the particular cases analyzed, the Supreme Court has ruled that, even if the entity had not adequately complied&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; with some regulatory requirement of transparency, such as reporting the evolution of the index in the past, this would not mean that the clause was abusive. In short, it considers that the control rules are different from transparency and abuse, so that i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;f the clause is not abusive, the possible breach of any obligation of transparency cannot have legal consequences. Following these rulings, the Supreme Court is rejecting the appeals on the grounds of the existence of case law on the matter and lack of int&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;erest in the case. Therefore, BBVA considers that the ruling of the EU Court of Justice and these recent rulings of the Supreme Court should not have significant effects on the Group&amp;#39;s business, financial situation or results of operations.&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;font-weight:bold;margin-left:0pt;color:#094580;' &gt;Revolving credi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094580;' &gt;t cards &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 also claims before the Spanish courts challenging the application of certain interest rates and other mandatory regulations to certain revolv&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ing credit card contracts. On &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;March&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; 2020, the Supreme Court issued a ruling (number 149/2020) confirming the nullity of a revolving credit card agreement entered into by another entity (Wizink Bank) on the grounds that the interest applied to the card was usurious. In that ru&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ling, the Supreme Court recogniz&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed that the reference to the &amp;quot;normal interest on money&amp;quot; to be used for this product must be the average interest applicable to credit transactions by means of credit and revolving cards published in the Bank of Spain&amp;#39;s statistics, which is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; slightly higher than 2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;0% annually&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. The Supreme Court also cons&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;idered usurious a rate of 26.82% annually, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;when compared to such average rate. The Supreme Court concluded that for an interest rate to be usurious, it must be &amp;quot;manifestly disproportionate to t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he circumstances of the case&amp;quot;, and therefore the ruling limits its effects to the case under analysis, and the marketing by credit entitie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s of this product must be analyz&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed on a case-by-case 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;BBVA considers that this ruling of the Supreme Court shou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ld not have a significant effect on the Group&amp;#39;s business, financial situation or results of operations.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofprovisions>
  <ifrs-full:DisclosureOfEmployeeBenefitsExplanatory id="ID_10731" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;25. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Post-employment and other employee benefit commitments&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;As stated in Note 2.2.11, 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:10pt;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 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&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;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he breakdown of the net defined benefit liability recorded on the balance sheet as of December 31, 20&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;, 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; and 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; 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='5' rowspan='1' style='width:513pt;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;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-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:42pt;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:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;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:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;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:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;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: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: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: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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;4.539&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:8pt;color:#000000;' &gt;5.050&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:8pt;color:#000000;' &gt;4.678&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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;1.247&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:8pt;color:#000000;' &gt;1.486&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:8pt;color:#000000;' &gt;1.793&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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;1.562&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:8pt;color:#000000;' &gt;1.580&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:8pt;color:#000000;' &gt;1.114&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;Other long term employee benefits&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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;49&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:8pt;color:#000000;' &gt;61&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: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:345pt;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:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7.398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &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;/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;Pension plan assets&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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;1.608&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:8pt;color:#000000;' &gt;1.961&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:8pt;color:#000000;' &gt;1.694&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 benefit plan assets&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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;1.484&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:8pt;color:#000000;' &gt;1.532&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:8pt;color:#000000;' &gt;1.146&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,75pt;' &gt;&lt;td style='width:345pt;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:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.092&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:345pt;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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &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;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:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4.305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:42pt;' &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;/tr&gt;&lt;tr style='height:13,5pt;' &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 asset on the consolidated balance sheet (2)&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:8pt;font-style:italic;color:#787878;' &gt;&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:8pt;font-style:italic;color:#A5A5A5;' &gt;(16)&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:8pt;font-style:italic;color:#A5A5A5;' &gt;(8)&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:8pt;font-style:italic;color:#A5A5A5;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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:42pt;text-align:left;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;24&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:8pt;font-style:italic;color:#A5A5A5;' &gt;4.272&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:8pt;font-style:italic;color:#A5A5A5;' &gt;4.631&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:8pt;font-style:italic;color:#A5A5A5;' &gt;4.787&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:42pt;text-align:left;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;24&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:8pt;font-style:italic;color:#A5A5A5;' &gt;49&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:8pt;font-style:italic;color:#A5A5A5;' &gt;61&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:8pt;font-style:italic;color:#A5A5A5;' &gt;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:3pt;margin-bottom:3pt;line-height:13,8pt;' &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;           &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;In Turkey, the foundation responsible for managing the benefit commitments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;holds an additional asset of &amp;#8364;125 million as of December 31, 20&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;20&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; 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 contr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ibutions it could not be immediately refunded to the employer.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(2)&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;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:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(3)&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;Recorded under the heading &amp;#8220;Provisions - Provisions for pensions and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; similar obligations&amp;#8221; of the consolidated balance sheet.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(4)          &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Recorded under the heading &amp;#8220;Provisions &amp;#8211; Other long-term employee benefits&amp;#8221; of the consolidated balance sheet.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &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;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he impact relating to benefit commitments charged to consolidated income s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tatement for the years 20&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;20, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 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; 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:475,5pt;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-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-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;Notes&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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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 other 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:right;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;44&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;63&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;77&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:right;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;265&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;293&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;282&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;Interest income&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: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;(220)&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;(230)&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;(206)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &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;font-weight:bold;color:#004481;' &gt;Personnel expense&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:#004481;' &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;font-weight:bold;color:#004481;' &gt;121&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;font-weight:bold;color:#004481;' &gt;143&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;font-weight:bold;color:#004481;' &gt;130&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:right;vertical-align:middle;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44.1&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;72&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;95&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;72&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;Defined benefit plan 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;44.1&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;49&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;49&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;58&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &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;font-weight:bold;color:#004481;' &gt;Provisions or (reversal) of provisions&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;46 &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;font-weight:bold;color:#004481;' &gt;210&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;font-weight:bold;color:#004481;' &gt;213&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;font-weight:bold;color:#004481;' &gt;125&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:right;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;224&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;/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:right;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;(8)&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;/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:right;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;(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;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;/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;Other provision 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: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;4&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;28&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:313,5pt;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;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;419&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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;332&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;(*)       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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;charged to the income statements (see Note 2.2.12).&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 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 pen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sion and medical commitments before income taxes as of December 31 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018 &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:12,75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:482,25pt;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-bottom-style:solid;border-bottom-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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;161&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;/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;Post-employment medical benefits&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;30&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;74&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;(47)&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;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;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;191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66,75pt;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;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;/tr&gt;&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 2020, the aggregate impact of this heading amounted to &amp;#8364;191 million driven by, first of all, the variation in interest rates, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;91 million losses on commitments in Mexico and &amp;#8364;68 million in Spain, and secondly due to updating of the mortality tables in Spain (&amp;#8364;49 million losses). These amounts are partially offset by the effect in other geographies and experience. In 2019, this hea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ding amounted to &amp;#8364;329 million mainly due to the variation in two geographies. Firstly, as a consequence of the &amp;#8364;231 million increase in actuarial losses on commitments in Spain, due to the variation in discount rates from 1.75% to 1%. Secondly, driven by t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he &amp;#8364;83 million increase in actuarial losses on commitments in Mexico, due to the decrease in discount rates from 10.45% to 9.04%.&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:10pt;font-weight:bold;margin-left:0pt;color:#004480;' &gt;25.1. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004480;' &gt;Defined benefit plans&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;Defined benefit commitments relate mainly to employees&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 requi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;red premiums to fully insure the related liability. The change in these pension commitments during the years ended December 31&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;2020, 2019 and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:537pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:537pt;' &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;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: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:7pt;font-weight:bold;color:#072146;' &gt;&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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;&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;font-weight:bold;color:#072146;' &gt;&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;font-weight:bold;color:#072146;' &gt;2019&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:7pt;font-weight:bold;color:#072146;' &gt;&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;font-weight:bold;color:#072146;' &gt;&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;font-weight:bold;color:#072146;' &gt;2018&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;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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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: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:7pt;font-weight:bold;color:#072146;' &gt;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;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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:53,25pt;border-top-style:solid;border-top-width:1;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;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;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:45,75pt;border-top-style:solid;border-top-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:7pt;font-weight:bold;color:#FFFFFF;' &gt;8.116&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;background-color:#5AC4C4;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.622&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;background-color:#5AC4C4;border-color:Black;min-width:45,75pt;' &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:45,75pt;border-top-style:solid;border-top-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:7pt;font-weight:bold;color:#FFFFFF;' &gt;2.839&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;background-color:#5AC4C4;border-color:Black;min-width:54,75pt;' &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:45,75pt;border-top-style:solid;border-top-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:7pt;font-weight:bold;color:#FFFFFF;' &gt;8.384&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;background-color:#5AC4C4;border-color:Black;min-width:45,75pt;' &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:53,25pt;border-top-style:solid;border-top-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;5.378&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;Current service 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:7pt;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: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:7pt;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:7pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:54,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &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:7pt;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:7pt;color:#000000;' &gt;61&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;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:7pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;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:7pt;color:#000000;' &gt;230&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:7pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;206&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;74&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;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:7pt;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: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:7pt;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:7pt;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:7pt;color:#000000;' &gt;1&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:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(124)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;65&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:7pt;color:#000000;' &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: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:7pt;color:#000000;' &gt;103&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;(103)&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;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: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:7pt;color:#000000;' &gt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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: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;109&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;364&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;783&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;454&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:7pt;color:#000000;' &gt;329&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(263)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(286)&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;21&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:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(176)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;454&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:7pt;color:#000000;' &gt;(454)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;(286)&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;286&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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: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:7pt;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:7pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:54,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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: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;14&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:7pt;color:#000000;' &gt;276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;688&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;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:54,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;688&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(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:7pt;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:7pt;color:#000000;' &gt;(274)&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 gains and 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:7pt;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: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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(3)&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(839)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(185)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(654)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(905)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(187)&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:7pt;color:#000000;' &gt;(718)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(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:7pt;color:#000000;' &gt;(200)&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;(779)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7pt;' &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;Business combinations and disposals (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(371)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(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:7pt;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:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;2&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(459)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(409)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(50)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(22)&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;Other effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;4&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;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:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;7.348&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;3.092&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.256&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;8.116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;3.493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;7.585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;2.840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53,25pt;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;4.745&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: Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &gt;4.288&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &gt;4.039&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:7pt;color:#A5A5A5;' &gt;4.592&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:7pt;font-style:italic;color:#A5A5A5;' &gt;266&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:7pt;font-style:italic;color:#A5A5A5;' &gt;4.326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#A5A5A5;' &gt;4.807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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: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;font-style:italic;color:#A5A5A5;' &gt;4.547&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &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:7pt;color:#A5A5A5;' &gt;2.122&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:7pt;color:#A5A5A5;' &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:7pt;color:#A5A5A5;' &gt;2.231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#A5A5A5;' &gt;2.124&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:7pt;font-style:italic;color:#A5A5A5;' &gt;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:7pt;font-style:italic;color:#A5A5A5;' &gt;1.615&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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: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;font-style:italic;color:#A5A5A5;' &gt;28&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &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:7pt;color:#A5A5A5;' &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:7pt;color:#A5A5A5;' &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:7pt;color:#A5A5A5;' &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:7pt;font-style:italic;color:#A5A5A5;' &gt;323&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:7pt;font-style:italic;color:#A5A5A5;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#A5A5A5;' &gt;326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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: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;font-style:italic;color:#A5A5A5;' &gt;39&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:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &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:7pt;color:#A5A5A5;' &gt;282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A5A5A5;' &gt;444&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#A5A5A5;' &gt;359&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:7pt;font-style:italic;color:#A5A5A5;' &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:7pt;font-style:italic;color:#A5A5A5;' &gt;422&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45,75pt;' &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: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;font-style:italic;color:#A5A5A5;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;(*)        The amount in 2020 in mainly due to the stake in BBV&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;A USA (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(1)        Including gains and losses arising from settlements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(2)        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:10pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;benefit obligations&amp;#8221; of the accompanying consolidated balance sheet as of December 31, &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; includes &amp;#8364;356 million relating 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:10pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The most &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;significant commitments are those in Spain and Mexico and, to a lesser extent, in 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:10pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Both 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;enable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;assist&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that all decisions are made taking into consideration all of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;associated impacts.&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 table sets out the key actuarial assumptions used in the valuation of these commitments as of December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:6,75pt;' &gt;&lt;td colspan='12' rowspan='1' style='width:476,25pt;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:6pt;color:#02A5A5;' &gt;Actuarial assumptions (%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:94,5pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:126pt;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-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;/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;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;0,53%&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;8,37%&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;13,00%&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;/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;4,00%&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;11,20%&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;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;/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;1,94%&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;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;/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;13,90%&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;/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:bottom;border-color:Black;min-width:31,5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;PER 2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31,5pt;text-align:right;vertical-align:bottom;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:bottom;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:bottom;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:bottom;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:bottom;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:bottom;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:bottom;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:bottom;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:bottom;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:bottom;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, &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;, corresponds&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; to the weighted average rate, the actual discount rates used are 0% and 0.75% depending on the type of commitment.&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;In Mexico, the discount rate shown as of December 31, 2020, corresponds to the weighted average rate, with the discount rates between 6.84% &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and 8.76% depending on the plan.&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;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 and Mexican peso for Mexico, and government bon&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ds denominated in Turkish Lira for Turkey.&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 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:10pt;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 contrac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tually 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:10pt;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 changes in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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='8' rowspan='1' style='width:654,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:654,75pt;' &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: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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' 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;font-weight:bold;color:#072146;' &gt;Basis points change&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:127,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:127,5pt;' &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 colspan='2' rowspan='1' style='width:127,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:127,5pt;' &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:127,5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:127,5pt;' &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:16,5pt;' &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;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;Increase&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;Decrease&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;Increase&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;Decrease&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;Increase&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;Decrease&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18,75pt;' &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;Discount rate&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;50&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;(354)&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;390&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;(367)&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;405&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;(298)&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;332&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,75pt;' &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;Rate of salary increase&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;50&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;(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;3&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;(3)&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;3&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;(3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,75pt;' &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;Rate of pension increase&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;50&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;29&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;(27)&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;27&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;(26)&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;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;(18)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;Medical cost trend rate&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;50&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;145&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;(129)&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;169&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;(133)&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;115&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;(91)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19,5pt;' &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;Change in obligation from each additional year of longevity&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;211&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;137&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;108&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;/tr&gt;&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 the rest o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f 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: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 commitments to employees shown above, the Group has other less material long-term employee benefits. These include long-service&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the actuarial liabilities for the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;outstanding awards amounted to &amp;#8364;50&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, &amp;#8364;61 million and &amp;#8364;62&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;25.1.1. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Post-employment commitments and similar obligations&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;These commitments relate mostly to pension&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;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.&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;In addition, during the year &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;, 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 781 emp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;loyees (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;616&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;489&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; during years 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; and 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;, 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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the value of these commitments amounted to &amp;#8364;1,247, &amp;#8364;1,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;486&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;1,793&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million, 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: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 the benefit plan obligations and plan assets during the year ended December 31, 20&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; 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:12,95pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:379,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:379,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Post-employment commitments 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;font-weight:bold;color:#072146;' &gt;Rest of the world&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;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Defined benefit obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:#000000;' &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:#000000;' &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:#000000;' &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:#000000;' &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:#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;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:40,5pt;border-top-style:solid;border-top-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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.592&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;background-color:#5AC4C4;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;664&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;background-color:#5AC4C4;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;375&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;background-color:#5AC4C4;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;444&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;background-color:#5AC4C4;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;460&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Current service cost&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;30&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;45&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:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:40,5pt;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;-&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;4&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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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: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:40,5pt;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;224&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;136&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:7pt;color:#000000;' &gt;93&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:7pt;color:#000000;' &gt;31&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:7pt;color:#000000;' &gt;(4)&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:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:40,5pt;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;60&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;79&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:7pt;color:#000000;' &gt;(19)&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:7pt;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:7pt;color:#000000;' &gt;54&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:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#666666;' &gt;Other actuarial gains 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:7pt;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:7pt;color:#000000;' &gt;112&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;(703)&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:7pt;color:#000000;' &gt;(58)&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:40,5pt;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;-&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:7pt;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:7pt;color:#000000;' &gt;(371)&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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(32)&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:7pt;color:#000000;' &gt;(126)&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:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Other effects&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.288&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;666&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:40,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;4.198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:40,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:40,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#A6A6A6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:4,5pt;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Plan assets&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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;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;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:40,5pt;border-top-style:solid;border-top-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:7pt;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;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:7pt;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;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:7pt;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;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:7pt;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;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;422&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;37&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:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;4&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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;color:#000000;' &gt;86&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;color:#000000;' &gt;31&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:7pt;color:#000000;' &gt;35&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:7pt;color:#000000;' &gt;(23)&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:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#666666;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;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:7pt;color:#000000;' &gt;31&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:7pt;color:#000000;' &gt;35&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:7pt;color:#000000;' &gt;(23)&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:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;(60)&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:7pt;color:#000000;' &gt;(57)&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:7pt;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:7pt;color:#000000;' &gt;(8)&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:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;color:#000000;' &gt;19&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:7pt;color:#000000;' &gt;(327)&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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(77)&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:7pt;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:7pt;color:#000000;' &gt;(100)&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:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Other effects&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;638&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;439&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:4,5pt;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &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:7pt;font-style:italic;color:#787878;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Net liability (asset)&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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;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:7pt;font-weight:bold;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;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:40,5pt;border-top-style:solid;border-top-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:7pt;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;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:7pt;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;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:7pt;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;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:7pt;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;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Current service cost&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;8&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:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(86)&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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: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:40,5pt;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;224&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;95&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:7pt;color:#000000;' &gt;62&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:7pt;color:#000000;' &gt;(4)&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:7pt;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:7pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#666666;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;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:7pt;color:#000000;' &gt;(31)&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:7pt;color:#000000;' &gt;(35)&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:7pt;color:#000000;' &gt;23&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:7pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;60&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;79&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:7pt;color:#000000;' &gt;(19)&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:7pt;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:7pt;color:#000000;' &gt;54&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:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#666666;' &gt;Other actuarial gains 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:7pt;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:7pt;color:#000000;' &gt;112&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;color:#000000;' &gt;(643)&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(19)&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(26)&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:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &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:7pt;color:#000000;' &gt;Other effects&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.039&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;(1)        Including gains and losses arising from settlements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(2)        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: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 net liabilities (ass&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ets) during the years ended 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 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; 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:528,75pt;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: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;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:183,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:183,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2019: Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:183,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:183,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018: 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:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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;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;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(18)&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 &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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&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 &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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(67)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(90)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(50)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8,25pt;' &gt;&lt;td style='width: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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(12)&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 gains and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(702)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(763)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;Business combinations and disposals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;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:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size: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;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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4.326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:36,75pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36,75pt;' &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:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(1)        Includes gains and losses from settlements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(2)        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:10pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:10pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;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.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; However, a significant number of the insurance contracts are with BBVA Seguros, 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 un&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;der these policies are fully recognized under the heading &amp;quot;Provisions &amp;#8211; Pensions 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;included within the Group&amp;#180;s consolidated assets (recorded according to the classification of the corresponding financial instruments). As of December 31, &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; the value of these separate assets was &amp;#8364;2,572 million, (&amp;#8364;2,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;620&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;2,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;543&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million as of December &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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; and 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;, respectively) representing direct rights of the insured employees held in the consolidated balance sheet, hence these benefits are effectively fully funded.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;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 c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ontracts 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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018&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;he value of the aforementioned insurance policies (&amp;#8364;249&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, &amp;#8364;266&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;260&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&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;P&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ension 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 &amp;#8220;cash flow matching&amp;#8221; techniques to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;assist&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that benefi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ts can be met when due, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;enabling&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; both the actuarial and interest rate 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:8pt;margin-left:0pt;' &gt;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 constitute&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d locally to meet benefit payments as required by local regulation.&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;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 va&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rious previously established funds.&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 financial sector is in this stage at present, maintaining these pension commitments managed by external pension funds (foundations) established for that purpose.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;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 liabiliti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;es relating to employees of Garanti BBVA in Turkey, as per the local regulatory requirements, has registered an obligation amounting to &amp;#8364;250&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million as of December 31, 2020&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; pending future transfer to the Social Security system.&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;Furthermore, Garanti BBVA &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;has set up a defined benefit pension plan for employees, additional to the social security benefits, reflected in the consolidated balance sheet.&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;25.1.2. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Medical benefit commitments&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 change in defined benefit obligations and plan assets during the years&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 2020, 2019 and 2018 was as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:585,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:585,75pt;' &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:187,5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187,5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:132,75pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:132,75pt;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-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;/tr&gt;&lt;tr style='height:42,75pt;' &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: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:187,5pt;border-top-style:solid;border-top-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: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;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;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;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;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;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;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;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;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;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;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;td style='width: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;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;27&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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: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;117&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;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;/tr&gt;&lt;tr style='height:9pt;' &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: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;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;(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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(66)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;(37)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(37)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(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;/tr&gt;&lt;tr style='height:9pt;' &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: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;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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: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;(207)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(201)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Other effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:187,5pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44,25pt;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;1.562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44,25pt;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;1.484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44,25pt;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;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44,25pt;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;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;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;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;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;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;/tr&gt;&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;(1)         Including gains and losses arising from settlements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(2)        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:10pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&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;In Turkey, employees are currently&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&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 valuation of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; these benefits and their accounting treatment follow the same methodology as that employed in the valuation of pension commitments.&lt;/font&gt;&lt;/p&gt;&lt;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;25.1.3. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Estimated benefit payments&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;As of December 31, &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;, the estimated benefit payments over the next ten years for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; all the entities in Spain, Mexico 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;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-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-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-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-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-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-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&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;font-weight:bold;color:#072146;' &gt;2026-2030&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;556&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;474&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;388&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;313&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;257&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;856&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;111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;774&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 Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;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;180&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:140,25pt;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;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;683&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;602&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;452&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;408&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;1.810&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;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:10pt;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 e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ntity. However, in accordance with local regulation, some commitments are not externally funded 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:10pt;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 se&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ttle 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.&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;To manage t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he 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.&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 investment policy consists of investing in a low &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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&amp;#8216; risks.&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;In &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&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 risks associated with these commitments are those which give &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e economy resulting in more write-downs and credit rating downgrades.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;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 table below shows the allocation of plan assets of the main companies of the BBVA Group as of December 31, 2020, 2019 and 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:603pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:603pt;' &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:245,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:245,25pt;' &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:119,25pt;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:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;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:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;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: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: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;Cash or cash equivalents&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:245,25pt;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;Debt securities (government bonds)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &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:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.080&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:245,25pt;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;Mutual funds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &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:245,25pt;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;Insurance contracts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:245,25pt;text-align:left;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:245,25pt;' &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:119,25pt;text-align:right;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2.887&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119,25pt;text-align:right;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:119,25pt;' &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:119,25pt;text-align:right;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2.241&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:245,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:245,25pt;' &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:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &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:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &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:119,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:119,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top: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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;are plan assets relating to the previously mentioned insurance contracts in Spain and the foundation in Turkey.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top: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 provides details of investments in listed securities (Level 1) as of December 31, 2020, 2019 and 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:676,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:676,5pt;' &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:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145,5pt;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145,5pt;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-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;/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;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;38&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;/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;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;2.707&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;/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;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;1&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;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:240pt;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:145,5pt;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;2.747&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145,5pt;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;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;/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:#787878;' &gt;Of which: Bank account in 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;4&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;4&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 the classification established under IFRS 13 (mainly insurance contracts). As of December 31, 2020, almost all of the assets related to employee commitments corres&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ponded to fixed income securities.&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:#004480;' &gt;25.2. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004480;' &gt;Defined &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004480;' &gt;contribution&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004480;' &gt; plans&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;Certain Group entities 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:10pt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEmployeeBenefitsExplanatory>
  <bbva:Disclosureofcommonstockexplanatory id="ID_10732" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;26. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Common &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 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;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;under the ticker &amp;#8220;BBVA&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;Additionally, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as of December 31, 2020, the shares of Banco BBVA Peru, S.A., BBVA 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 (&amp;#8220;DR&amp;#8221;) of Garanti BBVA, A.S. are listed in the London Stock Exchange. BBVA is also currently included, amongst other indexes, in the IBEX 35&amp;#174; Index, which 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&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, 2020, State Street Bank and Trust Co., The Bank of New Y&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ork Mellon SA NV and Chase Nominees Ltd in their capacity as international custodian/depositary banks, held 10.94%, 1.31%, and 8.36% of BBVA common stock, respectively. Of said positions held by the custodian banks, BBVA is not aware of any individual shar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eholders with direct or indirect holdings greater than or equal to 3% of BBVA common stock outstanding.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;On May 8, 2020, Norges&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Bank reported that it had voting power over 3.366% of BBVA&amp;#8217;s common stock, of which 3.235% are voting rights attributed to shares, and 0.131%, 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;On January 28, 2021, Blackrock, Inc. reported to the SEC that it be&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;neficially owned 5.8% 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 8, 2021, GQG Partners LLC reported that it directly had voting power over 3.090% of BBVA&amp;#8217;s common stock, all are voting rights attributed to 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;On the other hand, BBVA is not aware of any direc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t or indirect interests through which control of the Bank may be exercised. Furthermore, 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; or placing conditions on the free transferability of BBVA shares. No agreement is known that could give rise to changes in the control of the Bank&lt;/font&gt;&lt;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;BBVA banking subsidiaries, associates and joint ventures worldwide, are subject to supervision and regulati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:6pt;margin-bottom:10pt;line-height:13,8pt;' &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:10pt;line-height:13,8pt;' &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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the 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 totall&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y or partially exclude shareholders&amp;#8217; pre-emptive subscription rights over any specific issue that may be made under such 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;margin-left:0pt;' &gt;However, the power to exclude pre-emptive subscription rights was limited, such that the nominal amount of the capital incre&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ases resolved or effectively carried out with the exclusion of pre&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;emptive subscription rights in use of the referred authority and those that may be resolved or carried out to cover the conversion of mandatory con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;vertible issues that may also&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; be made with&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the exclusion of pre&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;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 appli&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cable 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; conferred by the AGM.&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;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 introduces the details of the convertible &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and/or exchangea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ble securities.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofcommonstockexplanatory>
  <bbva:Disclosureofsharepremiumexplanatory id="ID_10733" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &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&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;2020, 2019 and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 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_10734" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;28. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Retained earnings, revaluation reserves and other reserves&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:left;margin-top:6pt;margin-bottom:10pt;line-height:13,8pt;' &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:393,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:393,75pt;' &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-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:#44546A;' &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:#44546A;' &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:#072146;' &gt;2020&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:#072146;' &gt;2019&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:#072146;' &gt;2018&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: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;653&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;653&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;653&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: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;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;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:8pt;color:#000000;' &gt;133&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: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;3&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;Voluntary reserves&lt;/font&gt;&lt;/td&gt;&lt;td 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;8.117&lt;/font&gt;&lt;/td&gt;&lt;td 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;8.331&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:8pt;color:#000000;' &gt;8.010&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: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:45pt;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;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;8.890&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;9.108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;8.799&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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;Consolidation reserves attributed to the Bank and subsidiary consolidated companies.&lt;/font&gt;&lt;/td&gt;&lt;td 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;21.454&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:8pt;color:#000000;' &gt;20.161&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:8pt;color:#000000;' &gt;18.018&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: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:45pt;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;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;30.344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;29.269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;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;26.028&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;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:6pt;margin-bottom:10pt;line-height:13,8pt;' &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:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Under the amended&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Spanish&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;vailable.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:6pt;margin-bottom:10pt;line-height:13,8pt;' &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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of December 31, 2020, 2019 and 2018, 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:14,25pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:546pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:546pt;' &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:14,25pt;' &gt;&lt;td style='width:318,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:318,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;Restricted reserve for retired capital&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;88&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;88&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;88&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;Restricted reserve for parent company shares and loans for those shares&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;30&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;34&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;44&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;Restricted reserve for redenomination of capital in euros&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;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;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;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:318,75pt;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:75,75pt;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;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75,75pt;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;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75,75pt;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;133&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; capital resulted from the reduction of the nominal par value of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA shares made in April 2000.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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 fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r the purchase of, o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r are secured by, the parent c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ompany 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 th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e redenomination of the parent c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ompany common &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;stock in euros.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:6pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004481;' &gt;28.4. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004481;' &gt;Retained earnings, Revaluation reserves and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004481;' &gt;o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004481;' &gt;ther 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&amp;#8221;, &amp;#8220;Revaluation reserves&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; and &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 reserves&amp;#8221; in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:533,25pt;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 company or corporate group (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-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-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:#44546A;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;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;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;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;15.014&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;14.698&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 Bancomer 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;12.890&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;2.509&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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 Banco Provincial 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;1.731&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:#000000;' &gt;1.736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.745&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 Argentine 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;1.302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.220&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;1.287&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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 Peru 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;984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;168&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;160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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 de 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;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;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;/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;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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;(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;(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;/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;(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;(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;/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;(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;(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;/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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;363&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;Sociedades inmobiliarias Unnim&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;(617)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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 USA Bancshares 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;(1.078)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/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.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;(5.409)&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;(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;/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;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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&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: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;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;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;30.508&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;29.388&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;26.066&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;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-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-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:#004481;' &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:#004481;' &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:#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;ATOM Bank PLC&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;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;border-top-style:solid;border-top-width:1;text-align: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;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;(56)&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)&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;Metrovacesa, 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;font-weight:bold;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;(84)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align: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;/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;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;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;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&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;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;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;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;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;(119)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;(38)&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;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;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;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;30.344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;29.269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;26.028&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:3pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;arising from the dividends paid and transactions between these entities 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_10735" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;29. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:13pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:621,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:621,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Treasury shares (Millions of euros)&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:bottom;border-color:Black;min-width:234,75pt;' &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:129pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:129pt;' &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 colspan='2' rowspan='1' style='width:129pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:129pt;' &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:129pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:129pt;' &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:21pt;' &gt;&lt;td style='width:234,75pt;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:64,5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;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;Number of Shares&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:center;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;Millions of Euros&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:center;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;Number of Shares&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:center;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;Millions of Euros&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:center;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;Number of Shares&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:center;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;Millions of Euros&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;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;Balance at beginning&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;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12.617.189&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;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;47.257.691&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;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;296&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;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13.339.582&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;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;96&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:bottom;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; + Purchases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;234.691.887&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;214.925.699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.088&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;279.903.844&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;1.683&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:bottom;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; - Sales and other changes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(232.956.244)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(830)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(249.566.201)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(1.298)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(245.985.735)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(1.505)&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:bottom;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; +/- Derivatives on BBVA shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;23&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;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;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;14.352.832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12.617.189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;47.257.691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;296&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;font-style:italic;color:#000000;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&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;font-style:italic;color:#666666;' &gt;Held by BBVA, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;592.832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &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:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &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:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &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:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &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: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;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:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;13.760.000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;12.617.189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;47.257.691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:64,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;296&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:bottom;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Average purchase price in Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;3,44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;5,06&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;6,11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&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:bottom;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Average selling price in Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;3,63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;5,20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;6,25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;Net gains or losses on transactions &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(Shareholders&amp;#39; funds-Reserves)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64,5pt;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;(24)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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 ended December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018 &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:12pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:515,25pt;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;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-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:7pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' 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: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-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:7pt;font-weight:bold;color:#072146;' &gt;2018&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:13,5pt;' &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;0,008%&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;0,464%&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;0,215%&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;/tr&gt;&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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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='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;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-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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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;39.407.590&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;/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;0,59%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&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 third parties but under management of a company within the Group as of December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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;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-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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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;18.266.509&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;/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;0,27%&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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTreasurySharesExplanatory>
  <bbva:Accumulatedothercomprehensiveincomeexplanatory id="ID_10736" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &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:10,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:609pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:609pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Accumulated other comprehensive income (loss) (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:66pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(2.815)&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:right;vertical-align:middle;border-color:Black;min-width:66pt;' &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:66pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &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;/tr&gt;&lt;tr style='height:10,5pt;' &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;color:#000000;' &gt;Actuarial gains (losses) on defined benefit pension plans&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;&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;(1.474)&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;(1.498)&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;(1.245)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale&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;(65)&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;Fair value changes of equity instruments measured at fair value through other comprehensive income&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;13.4&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;(1.256)&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;(404)&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;(155)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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;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: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;(21)&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;24&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;116&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;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:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(11.541)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(8.351)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(8.939)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;color:#000000;' &gt;Hedge of net investments in foreign operations (effective portion)&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;&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;(62)&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;(896)&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;(218)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: US Dollar&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(432)&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;font-style:italic;color:#666666;' &gt;(432)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: Mexican peso&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(362)&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;font-style:italic;color:#666666;' &gt;(588)&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;font-style:italic;color:#666666;' &gt;(78)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: Turkish lira&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;317&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;font-style:italic;color:#666666;' &gt;163&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;font-style:italic;color:#666666;' &gt;322&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: other exchanges&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(18)&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;font-style:italic;color:#666666;' &gt;(38)&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;font-style:italic;color:#666666;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;color:#000000;' &gt;Foreign currency translation &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;(14.185)&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;(9.147)&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;(9.630)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: US Dollar&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(16)&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;font-style:italic;color:#666666;' &gt;1.565&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;font-style:italic;color:#666666;' &gt;1.326&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: Mexican peso&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(5.220)&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;font-style:italic;color:#666666;' &gt;(3.557)&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;font-style:italic;color:#666666;' &gt;(4.205)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: Turkish lira&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(4.960)&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;font-style:italic;color:#666666;' &gt;(3.750)&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;font-style:italic;color:#666666;' &gt;(3.326)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: Argentine peso&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(1.247)&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;font-style:italic;color:#666666;' &gt;(1.124)&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;font-style:italic;color:#666666;' &gt;(1.118)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: Venezuelan Bol&amp;#237;var&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(1.860)&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;font-style:italic;color:#666666;' &gt;(1.854)&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;font-style:italic;color:#666666;' &gt;(1.862)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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:#666666;' &gt;Of which: other exchanges&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(882)&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;font-style:italic;color:#666666;' &gt;(427)&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;font-style:italic;color:#666666;' &gt;(445)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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;color:#000000;' &gt;Hedging derivatives. Cash flow hedges (effective portion)&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;10&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;(44)&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;(6)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23,25pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:top;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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: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;13.4&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;2.069&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;1.760&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;943&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &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: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: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;644&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;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;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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 of other recognized income and expense of investments in subsidiaries, joint ventures and associates&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;(17)&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;(5)&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;(29)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10,5pt;' &gt;&lt;td style='width:345pt;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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(14.356)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(10.226)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(10.223)&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:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)  The variation for the year 2020 corresponds, mainly, to the BBVA USA sale agreement (see Notes 21).&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 headings are presented net of tax.&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 changes in 2020 are explained as a result of the depreciation of the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; main currencies of the geographies where the Group operates against the euro. The main depreciations against the euro have been: US dollar (-8.5%), Mexican peso (-13.1%), Turkish lira (-26.7%), Peruvian sol (-16.3%), Colombian peso (-12.6%) and Argentine &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;peso (-34.8%).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Accumulatedothercomprehensiveincomeexplanatory>
  <ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory id="ID_10737" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:18pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;31. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Non-controlling interest&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 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 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:387,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:387,75pt;' &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: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;font-weight:bold;color:#44546A;' &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-weight:bold;color:#44546A;' &gt;2020&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-weight:bold;color:#44546A;' &gt;2019&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-weight:bold;color:#44546A;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Garanti BBVA&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;3.692&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;4.240&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;4.058&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:bottom;border-color:Black;min-width:203,25pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.334&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.167&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:bottom;border-color:Black;min-width:203,25pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;416&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:12,75pt;' &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:8pt;color:#000000;' &gt;BBVA Colombia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:203,25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203,25pt;' &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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:203,25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203,25pt;' &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:61,5pt;text-align: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;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&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;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;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.471&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;6.201&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.764&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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:18pt;' &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 interests)&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:12,75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:408,75pt;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;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-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:#0A5FB4;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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: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;579&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;524&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;585&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:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;236&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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: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:61,5pt;text-align: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;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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)&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:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&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:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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)&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;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;td style='width:61,5pt;text-align:right;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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:224,25pt;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;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;756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;827&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;Dividends distributed to non-controlling interest of the Group during the year 2020 are: &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;BBVA Banco Continental Group &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;79 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;million, BBVA Garanti Group &amp;#8364;&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;million, BBVA Colombia Group &amp;#8364;4 million, and other Group entities accounted for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FF0000;' &gt; &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;4 &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:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory id="ID_10738" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;32. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Capital base and capital management&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt; XE &amp;quot;Capital base and capital management&amp;quot; &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: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. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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, 2020, 2019 and 2018, own funds is calculated in accordance to the applicable regulation of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;each year on minimum capital requirements for Spanish credit institutions &amp;#8211;both as individual entities and as consolidated group&amp;#8211; that establish how to calculate them, as well as the various internal capital adequacy assessment processes they should have i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n place and the information they should disclose to the 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;With respect to the capital requirement the ECB, in its announcement on March 12, 2020, in reaction to COVID-19, has allowed the banks to use additional Tier 1 or Tier 2 capital instruments to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; meet partially the Pillar II (P2R) requirements for 2021, which is known as &amp;quot;Pillar 2 tiering.&amp;quot; This measure has been reinforced by the relaxation of the Countercyclical Capital Buffer (CCyB) announced by various national macroprudential authorities and b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y other complementary measures published by the ECB. All of this has resulted in a reduction of 66 basis points in the CET1 requirement for BBVA, with that requirement standing at 8.59% and the requirement &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;in terms of total capital at 12.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;75%, both &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;requirements at consolidated level. The reduction in the requirement at the total ratio level is only around 2 basis points, as a result of the lower applicable countercyclical buffer&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;From 2021 onwards, the BBVA Group has set the objective of maintaining &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;a CET1 ratio at a consolidated level of between 11.5% -12.0%, increasing the target distance to the minimum requirement (currently at 8.59 %) at 291-341 basis points. At closing of the financial year 2020, the CET1 ratio is within this target management ra&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nge.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;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 reconciliation of the main figures between the accounting and regulatory own funds as of December 31, 2020, 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:8,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:591pt;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-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-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-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;2020 &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-weight:bold;color:#072146;' &gt;2019 &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-weight:bold;color:#072146;' &gt;2018 &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;30.344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29.269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26.029&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;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;(46)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;Profit (loss) 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;1.305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;Interim dividend&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;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;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;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;58.904&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;58.950&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;57.333&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;Accumulated other comprehensive income (loss)&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;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(14.356)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10.226)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10.223)&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;Non-controlling interest&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;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:8pt;color:#000000;' &gt;5.472&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;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;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;50.020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/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;Goodwill and other intangible assets&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;(3.455)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;/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;Indirect and synthetic 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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(320)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;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;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;(3.775)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/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;Differences from solvency and accounting perimeter&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;(186)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;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;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;(186)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/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 adjustments and deductions (1)&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;(3.128)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3.832)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4.049)&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;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;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;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;42.931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/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;Additional Tier 1 before Regulatory Adjustments&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;6.666&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.048&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.634&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;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;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;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;49.597&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;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;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;8.548&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;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;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;58.145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/tr&gt;&lt;tr style='height:9,75pt;' &gt;&lt;td style='width:345pt;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;&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:#094FA4;' &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:#094FA4;' &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:#094FA4;' &gt;&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;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;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;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;45.042&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/tr&gt;&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:0pt;' &gt; (1) Other adjustments and deductions includes the amount of minority interest not eligi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ble as capital, amount of dividends not distributed and other deductions and filters set by the CRR.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;In addition it includes other remuneration to shareholders (see Note 4)&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:6pt;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 Group&amp;#8217;s own funds in accordance with the aforementioned applicable regulation a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s of December 31, 2020, 2019 and 2018 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:15,5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:460,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:460,5pt;' &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:15,5pt;' &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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;2020&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;/tr&gt;&lt;tr style='height:15,5pt;' &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: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:15,5pt;' &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: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;29.974&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;29.127&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;25.896&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;(14.023)&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;(10.133)&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;(10.130)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;3.656&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;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;Net interim attributable profit&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;860&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;1.316&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;3.188&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Common Equity Tier I (CET1) before other regulatory adjustments&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;font-weight:bold;color:#004481;' &gt;47.726&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;font-weight:bold;color:#004481;' &gt;51.974&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;font-weight:bold;color:#004481;' &gt;50.022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;Goodwill and intangible 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;(3.455)&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;(6.803)&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;(8.199)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;Direct and indirect holdings in own Common Equity Tier I 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;(366)&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;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;(1.478)&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;(1.463)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;Other deductions and filters (**)&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;504&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;386&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;386&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Total common equity Tier 1 regulatory adjustments&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;font-weight:bold;color:#004481;' &gt;(4.795)&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;font-weight:bold;color:#004481;' &gt;(8.321)&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;font-weight:bold;color:#004481;' &gt;(9.709)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Common equity TIER 1 (CET1)&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;font-weight:bold;color:#004481;' &gt;42.931&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;font-weight:bold;color:#004481;' &gt;43.653&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;font-weight:bold;color:#004481;' &gt;40.313&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20,5pt;' &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:7pt;color:#000000;' &gt;Capital instruments and share premium accounts classified as liabilities and qualifying as Additional Tier I&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;6.130&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;5.400&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;5.005&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20,5pt;' &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: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;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;536&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;648&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;629&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;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;6.666&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;font-weight:bold;color:#004481;' &gt;6.048&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;font-weight:bold;color:#004481;' &gt;5.634&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Additional Tier 1 (AT1) &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;font-weight:bold;color:#004481;' &gt;6.666&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;font-weight:bold;color:#004481;' &gt;6.048&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;font-weight:bold;color:#004481;' &gt;5.634&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &gt;&lt;td style='width:255,75pt;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: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;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;49.597&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68,25pt;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;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;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;Capital instruments and share premium accounted as Tier 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;4.540&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;3.242&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;3.768&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20,5pt;' &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:7pt;color:#000000;' &gt;Qualifying Tier 2 capital included in consolidated T2 capital issued by subsidiaries and held by third parties&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;3.410&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;4.512&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;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;Credit risk adjustments&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;604&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;631&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;579&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Tier 2 before regulatory adjustments&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;font-weight:bold;color:#004481;' &gt;8.554&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;font-weight:bold;color:#004481;' &gt;8.385&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;font-weight:bold;color:#004481;' &gt;8.756&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Tier 2 regulatory adjustments &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;font-weight:bold;color:#004481;' &gt;(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;font-weight:bold;color:#004481;' &gt;(82)&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;font-weight:bold;color:#004481;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Tier 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;font-weight:bold;color:#004481;' &gt;8.548&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;font-weight:bold;color:#004481;' &gt;8.304&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;font-weight:bold;color:#004481;' &gt;8.756&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &gt;&lt;td style='width:255,75pt;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: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;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;58.145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68,25pt;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;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;/tr&gt;&lt;tr style='height:15,5pt;' &gt;&lt;td style='width:255,75pt;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:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total RWA&amp;#39;s&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68,25pt;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;353.273&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68,25pt;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;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;/tr&gt;&lt;tr style='height:15,5pt;' &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:7pt;color:#000000;' &gt;CET 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;12,2%&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;12,0%&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;11,6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;14,0%&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;/tr&gt;&lt;tr style='height:15,5pt;' &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: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;16,5%&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;/tr&gt;&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;(*) According to EBA Standards published in June 2020 (EBA / ITS / 2020/04), the table has been adapted according to the format established by the EBA in those rows that are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;applicable to the date of the report, between which is the transitory impact by IFRS 9 in CET1, which has been reclassified from the row &amp;quot;Common Equity Tier 1 before regulatory adjustments&amp;quot; as a regulatory adjustment of Common Equity Tier 1 capital, within&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; the row &amp;quot;Other deductions and filters &amp;quot;. &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:6pt;margin-left:0pt;' &gt;(**) Additionally, it includes other shareholder remuneration (see Note 4).&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;As of December 2020 Common Equity Tier 1 (CET1) phased-in ratio stood at 12.15% which represented and in increase of +17 basis points wit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;h respect to 2019. In terms of CET1 fully loaded, the consolidated ratio stood at 11.73% (which represents a reduction of 1 basis point compared to 2019). The difference is mainly explained by the effect of the transitory adjustments for the treatment in t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he solvency ratios of the impacts of IFRS 9 and subsequent modifications in response to the COVID-19 pandemic.&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;This evolution had been affected by the positive BBVA&amp;#180;s organic profit generation which has it made possible to cover the growth of risk weighted&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; assets (RWA) and the relative stabilization of the financial markets during the second half of the year, largely motivated by the measures to stimulate the economy and the announced guaranteed programs by the different national and supranational authoriti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;es and the approval by the Parliament and the European Council of regulation 2020/873 (known as CRR quick fix).&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;Regarding the shareholder remuneration proposal in relation to the Group&amp;#39;s 2020 result, explained in Note 4, this amount has been anticipated as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; a prudential buffer in the Group&amp;#39;s capital ratios, with an impact of 11 basis points&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:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Phased-in additional Tier 1 capital (AT1) stood at 1, 89% at the end of December 2020, an improvement of +23 basis points compared to the previous year. In this respect,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in July 2020, the first green CoCo from a financial institution worldwide was issued for an amount of &amp;#8364;1,000 million, with a coupon of 6% and an option for early amortization in five and a half years. Moreover, a CoCo of &amp;#8364;1,500 million (coupon of 6.75%) w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as amortized in February, on the first date of the early amortization option; in January 2021, the early amortization options were implemented for two preferential issuances, issued by BBVA International Preferred and Caixa Sabadell Preferents for 31 milli&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on pounds sterling and &amp;#8364;90m respectively; and finally, for a third preferential issuance issued by Caixa Terrassa Societat de Participacions Preferents, the bondholders&amp;#39; meeting has approved its early amortization on January 29, 2021 (versus the amortizati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on option date of August 10, 2021). As of December 31, 2020, these issuances do not form part of the Group&amp;#39;s capital adequacy ratios. &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 phased-in Tier 2 ratio stood at 2.42%, an increase of +14 basis points over the previous years. Two Tier 2 issuances &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;were issued in 2020: an issuance of &amp;#8364;1,000 million in January, with a maturity of 10 years and an amortization option from the fifth year, with a coupon of 1%; and another issuance of 300 million pounds sterling in July, with a maturity of 11 years and wit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;h an early amortization option from the sixth year, with a coupon of 3.104%.&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;Regarding the MREL (Minimum Requirement for own funds and Eligible Liabilities) requirements, BBVA has continued its issuance plan during 2020 by closing two public issuances of n&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on-preferred senior debt, one in January 2020 for &amp;#8364;1,250m with a maturity of seven years and a coupon of 0.5%, and another in February 2020 for CHF 160m with a maturity of six and a half years and a coupon of 0.125%. In May 2020, the first issuance of a CO&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;VID-19 social bond by a private financial institution in Europe was completed. This is a five-year senior preferred bond, for &amp;#8364;1,000 million and a coupon of 0.75%. Finally, in order to optimize the MREL requirement, in September BBVA issued preferred senio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r debt of USD 2,000 million in two tranches, with maturities of three and five years, for USD 1,200 million and USD 800 million and coupons of 0.875% and 1.125% respectively. &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 estimates that, following the entry into force of Regulation (EU) No. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2019/877 of the European Parliament and of the Council of May 20 (which, among other matters, establishes the MREL in terms of RWAs and new periods for said requirement&amp;#39;s transition and implementation), the current structure of shareholders&amp;#8217; funds and admi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ssible liabilities enables compliance with the MREL.&lt;/font&gt;&lt;/p&gt;&lt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;enable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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, being the carrying amount of the assets u&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sed in this ratio adjusted to reflect the bank&amp;#8217;s current or potential leverage of 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 leverage ratio as of December 31, 2020, 2019 and 2018, 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;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;Leverage ratio&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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;font-weight:bold;color:#0A5FB4;' &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;font-weight:bold;color:#0A5FB4;' &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;font-weight:bold;color:#072146;' &gt;2020 &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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;49.597&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;/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;741.095&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;/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;6,69%&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;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;3&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#004580;' &gt;2.3. Ca&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#004580;' &gt;pital management&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 aim of capital management within BBVA and the Group is to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;assist&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that both BBVA and the Group have the necessary capital at any given time to develop the corporate strategy reflected in the Strategic Plan, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;in line with the risk profile set out in the Group Risk Appetite Framework (RAF).&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;In this regard, BBVA&amp;#39;s capital management is also part of the most relevant forward-looking strategic decisions in the Group&amp;#39;s management and monitoring, which include the An&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nual Budget and the Liquidity and Funding Plan, with which it is coordinated &amp;#8212; all with the aim of achieving the Group&amp;#39;s overall strategy.&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;Capital must be allocated optimally in order to meet the need to preserve the solvency of BBVA and the Group at all &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;times. Together with the Group&amp;#39;s solvency risk profile included in the RAF, this optimal allocation serves as a guide for the Group&amp;#39;s capital management and means a continuous need for a solid capital position that makes it possible to:&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;Anticipate ordinary&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; and extraordinary consumption that may occur, even under stress;&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;Promote the development of the Group&amp;#39;s business and align it with capital and profitability objectives by allocating resources appropriately and efficiently;&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;(Cover all risks&amp;#8212;including poten&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;tial risks&amp;#8212;to which it is exposed&amp;#172;;&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;Comply with regulatory and internal management requirements at all times; 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;Remunerate BBVA shareholders in accordance with the Shareholder Remuneration Policy in force at any given time.&lt;/font&gt;&lt;/span&gt;&lt;/p&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 areas involved in capital &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;management in the Group shall follow and respect the following principles in their respective areas of responsibility:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:6pt;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;Supporting&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that capital management is integrated and consistent with the Group&amp;#39;s Strategic Plan, RAF, Annual Budget and other strategic-p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rospective processes, to help achieve the Group&amp;#39;s long-term sustainability.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:6pt;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;Taking into account both the applicable regulatory and supervisory requirements and the risks to which the Group is&amp;#8212;or may be&amp;#8212;exposed when conducting its business (economic vision)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, when establishing a target capital level, all while adopting a forward-looking vision that takes adverse scenarios into consideration.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:6pt;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;Carrying out efficient capital allocation that promotes good business development, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;supporting&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that expectations for the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; evolution of activity meet the strategic objectives of the Group and anticipating the ordinary and extraordinary consumption that may occur.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:6pt;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;Enabling&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; compliance with the solvency levels, including the minimum requirement for own funds and eligible liabili&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ties (MREL), required at any given time.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:6pt;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;Compensating BBVA shareholders in an adequate and sustainable manner.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:6pt;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;Optimizing the cost of all instruments used for the purpose of meeting the target capital level at any given time&lt;/font&gt;&lt;/span&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;To achieve the aforementioned &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;principles, capital management will be based on the following essential elements:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:6pt;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;An adequate governance and management scheme, both at the corporate body level and at the executive level.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:6pt;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;Planning, managing and monitoring capital properly, using the measu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rement systems, tools, structures, resources and quality data necessary to do so. &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:6pt;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 set of metrics, which is duly updated, to facilitate the tracking of the capital situation and to identify any relevant deviations from the target capital level.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:6pt;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;transparent, correct, consistent and timely communication and dissemination of capital information outside the Group.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17,85pt;text-align:justify;margin-top:6pt;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;An internal regulatory body, which is duly updated, including the regulations and procedures that, &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; adequate capital management&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory>
  <ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory id="ID_10739" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;33. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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:549pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:549pt;' &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-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: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-weight:bold;color:#072146;' &gt;Notes&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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-weight:bold;color:#072146;' &gt;2018&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;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: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-weight:bold;color:#004481;' &gt;7.2.2&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;font-weight:bold;color:#004481;' &gt;132.584&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-weight:bold;color:#004481;' &gt;130.923&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-weight:bold;color:#004481;' &gt;118.959&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;font-style:italic;color:#787878;' &gt;Of which: defaulted&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:#787878;' &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;font-style:italic;color:#787878;' &gt;270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#787878;' &gt;247&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: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:#787878;' &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;2.919&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;3.117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;2.318&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: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:#787878;' &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;11.426&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;font-style:italic;color:#000000;' &gt;11.742&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;9.635&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: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:#787878;' &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;5.862&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;4.578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.664&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: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:#787878;' &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;71.011&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;65.475&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;58.405&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;Households &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:#787878;' &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;41.366&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;46.011&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;42.936&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:303pt;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: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-weight:bold;color:#004481;' &gt;7.2.2&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;font-weight:bold;color:#004481;' &gt;10.665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;10.984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;16.454&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;font-style:italic;color:#787878;' &gt;Of which: defaulted (*)&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:#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:#787878;' &gt;290&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#787878;' &gt;224&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#787878;' &gt;332&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: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:#787878;' &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;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;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;2&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: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:#787878;' &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;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;159&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: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:#787878;' &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;339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;font-style:italic;color:#000000;' &gt;1.274&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: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:#787878;' &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;587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;font-style:italic;color:#000000;' &gt;730&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: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:#787878;' &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;9.376&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;8.986&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;13.970&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;Households &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:#787878;' &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;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;319&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:303pt;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: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-weight:bold;color:#004481;' &gt;7.2.2&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;font-weight:bold;color:#004481;' &gt;36.190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;39.209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;35.098&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;font-style:italic;color:#787878;' &gt;Of which: defaulted (*)&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:#787878;' &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;font-style:italic;color:#787878;' &gt;506&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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:#787878;' &gt;408&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: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:#787878;' &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;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;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: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:#787878;' &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;199&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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: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:#787878;' &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;5.285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.952&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;5.875&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: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:#787878;' &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;2.902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;2.902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;2.990&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: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:#787878;' &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;27.496&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;29.682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;25.723&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;Households &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:#787878;' &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;182&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;151&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;261&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:303pt;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:61,5pt;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;7.2.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;179.440&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;181.116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;170.511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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:13,8pt;' &gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*&lt;/font&gt;&lt;/sup&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;)&lt;/font&gt;&lt;/sup&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; Non&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;-performing financial guarant&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ees given amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;767, &amp;#8364;7&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;3&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;1 and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;740&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; million, res&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;pectively, as of December 31, 2020&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;9 and 2018&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;As of December 31, &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;, the provisions for loan commitments given, financial guarantees given and other commitments given, recorded in the consolidated balance sheet amounted &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;280&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, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;182&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 and 266&amp;#8364; million, respectively (see Note 24).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size: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 balan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ce of these commitments cannot be considered to be the ac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tual 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 &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;, 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; and 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;, no issuance of debt securities carried out by associates of the BBVA Group, joint venture entities or non-Group entities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; have been guaranteed&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory>
  <bbva:Disclosureofothercontingentassetsandliabilitiesexplanatory id="ID_10740" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;December 2020, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 2018 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_10741" contextRef="FROM_Jan01_2020_TO_Dec31_2020_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. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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 purchase and sale commitments of the BBVA Group are disclosed in Notes 10, 14 and 22.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Future payment obligations mainly correspond to leases payable derived from operating lease &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;contracts, as detailed in Note 22.5, and estimated employee benefit payments, as detailed in Note 25.1.3.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfRepurchaseAndReverseRepurchaseAgreementsExplanatory>
  <bbva:Transactionsonbehalfofthirdpartiesexplanatory id="ID_10742" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;36. Transactions 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, 2020, 2019 and 2018 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:13pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:477pt;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:13pt;' &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;font-weight:bold;color:#44546A;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;357.022&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;693.497&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;689.157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13pt;' &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;10.459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;/tr&gt;&lt;tr style='height:13pt;' &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;Securities lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:308,25pt;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;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;372.766&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;713.759&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;707.508&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Transactionsonbehalfofthirdpartiesexplanatory>
  <ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory id="ID_10743" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;37.&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;Net interest income&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;37.1. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Interest &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;and other 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 other 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:498pt;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;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: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;font-weight:bold;color:#004481;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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;Financial assets held for trading&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;1.189&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;2.037&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;2.055&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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: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;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.629&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.620&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.357&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22.741&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22.029&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Insurance activity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.021&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;1.079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.141&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Adjustments of income as a result of hedging transactions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(112)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(72)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(162)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Other income (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;534&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;343&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:313,5pt;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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;22.389&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;27.762&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;26.954&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;(*) Includes accrued interest following TLTRO III&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; transactions in 2020 and 2019 (see Note 22).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-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 in connection with hedging derivatives for the years ended December 31, &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;, 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; and 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; and the amounts derecognized from the consolidated equity and taken to t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he consolidated income statements during those years are included in the accompanying &amp;#8220;Consolidated statements of recognized income and expenses&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;37.2. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:418,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:418,5pt;' &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:276,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:276,75pt;' &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: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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;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: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 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;742&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;1.229&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;1.210&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 liabilities 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:8pt;color:#000000;' &gt;61&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&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;41&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 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;6.346&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;9.953&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;9.757&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 expense as a result of hedging transactions&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;(413)&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;(250)&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;(351)&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: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;721&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;753&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;832&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;Cost attributable to pension funds&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;57&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;85&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;71&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;Other expense&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;284&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;196&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;108&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;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:47,25pt;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;7.797&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;11.972&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;11.669&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory>
  <ifrs-full:DisclosureOfDividendsExplanatory id="ID_10744" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;38. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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 from shares in entiti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;es 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:11,25pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family: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:22,5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;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:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;137&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDividendsExplanatory>
  <ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory id="ID_10745" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;39. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Share of profit or loss of entities accounted for using the equity method&lt;/font&gt;&lt;/p&gt;&lt;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 or loss of entities &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;accounted for using the equity method&amp;#8221; resulted in a negative impact of &amp;#8364;39 million as of December 31, &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;, compared with the negative impact of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;42 &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;negative&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; impact of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;7&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million recorded as of December 31, 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 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;, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10746" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">2835000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10747" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">3021000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10748" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">13093000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10749" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">14220000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10750" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">15544000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10751" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">15796000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10752" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">7650000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10753" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">8013000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10754" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">2457000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10755" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">2463000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10756" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">277317000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10757" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">287467000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10758" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">13777000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10759" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">13833000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10760" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">528000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10761" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">11605000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10762" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">67000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10763" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">322000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10764" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10765" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">132603000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10766" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">473000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10767" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">7000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10768" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10769" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">502000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10770" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">1798000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10771" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10772" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10773" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">2000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10774" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">1485000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10775" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">898000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10776" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10777" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">317000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10778" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">14262000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10779" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">197000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10780" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10781" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">6000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10782" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">7125000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10783" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10784" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">1914000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10785" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10786" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">71000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10787" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">18111000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10788" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">3972000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10789" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">5799000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10790" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">111141000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10791" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">260000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10792" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">8721000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10793" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">3191000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10794" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">1084000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory id="ID_10795" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;40. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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:456,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:456,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Fee and commission income. 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: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;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/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;color:#000000;' &gt;Bills receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;322&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;301&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Credit and debit cards and ATMs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.862&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.690&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:bottom;border-color:Black;min-width:255,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Checks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;555&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;595&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;169&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;185&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;183&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;377&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;374&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.026&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;986&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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;Securities fees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;301&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123&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:bottom;border-color:Black;min-width:255,75pt;' &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:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;556&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;564&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:255,75pt;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:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;5.980&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;6.786&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;6.462&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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 breakdown of fee and commission expense under these heading in the accompa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nying 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:439,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:439,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Fee and commission 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: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;font-weight:bold;color:#072146;' &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:8pt;font-weight:bold;color:#072146;' &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:8pt;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;Demand accounts&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;5&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;6&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;11&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;Credit and debit cards&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;1.130&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;1.566&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;1.403&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;Transfers and other payment orders&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;97&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;81&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;36&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;Commissions for selling insurance&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;54&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;54&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;48&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;Custody 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;&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;52&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;30&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;29&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;Other fees and commissions&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;519&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;548&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;531&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;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:47,25pt;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;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;1.857&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;2.284&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47,25pt;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;2.059&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10796" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10797" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10798" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10799" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">472000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10800" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">5690000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10801" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">48000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Disclosureofgainsorlossesonfinancialassetsandliabilitiesandexchangedifferenecesexplanatory id="ID_10802" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;41. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt; and exchange differences&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;, net&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-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 source of the related&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:576,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:576,75pt;' &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:30pt;' &gt;&lt;td style='width:381,75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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;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: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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20,45pt;' &gt;&lt;td style='width:381,75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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: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;139&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;186&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;191&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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:#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;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;color:#666666;' &gt;44&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:#666666;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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:#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;color:#666666;' &gt;33&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:#666666;' &gt;141&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:#666666;' &gt;155&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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;777&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;419&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;640&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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:#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;color:#666666;' &gt;777&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:#666666;' &gt;419&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:#666666;' &gt;640&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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;208&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;143&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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:#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;color:#666666;' &gt;208&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:#666666;' &gt;143&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:#666666;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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;56&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;(98)&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;139&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &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: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;7&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;69&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:381,75pt;' &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:48,75pt;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;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;1.187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;1.136&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11,25pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:381,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange differences, net&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;359&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;581&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;/tr&gt;&lt;tr style='height:12,6pt;' &gt;&lt;td style='width:381,75pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:381,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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;1.546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;1.286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;1.148&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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 of the balance (excluding exchange rate differences) under this heading in the accompanying income statements by the nature of financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:23,25pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:498pt;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;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: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;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: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-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;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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:bottom;border-color:Black;min-width:303pt;' &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: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;848&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;945&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;354&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:bottom;border-color:Black;min-width:303pt;' &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: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;(28)&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;1.336&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;(253)&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:bottom;border-color:Black;min-width:303pt;' &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: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;277&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;(1.133)&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;858&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:bottom;border-color:Black;min-width:303pt;' &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: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;128&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;78&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;(190)&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:bottom;border-color:Black;min-width:303pt;' &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: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;(79)&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)&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;239&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:bottom;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&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;42&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;(497)&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;127&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;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:48,75pt;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;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;1.187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;1.136&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;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 balance 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;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-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-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-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;2020&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-weight:bold;color:#004481;' &gt;2019&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-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width: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;Interest rate 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;269&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;(85)&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;61&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;(36)&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;(1.072)&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;298&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;1&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;5&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;/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;(89)&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;/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;88&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;(75)&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;565&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;Other 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;37&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;(35)&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;(24)&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;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;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;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;270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;(1.187)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;790&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: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;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;5&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;55&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;68&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;(151)&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;(36)&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;(135)&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;156&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;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;color:#666666;' &gt;203&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: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;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;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;-&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&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;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;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;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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;69&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;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;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;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;277&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;(1.133)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52,5pt;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;858&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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 addition, in the years ended December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, under the heading &amp;#8220;Exchange differences, net&amp;quot; in the accompanying consolidated income statements negative amounts of &amp;#8364;57 million, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;225&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;113&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million, respectively, were recognized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; for transactions with foreign exchange trading derivatives.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofgainsorlossesonfinancialassetsandliabilitiesandexchangedifferenecesexplanatory>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10803" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">6209000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10804" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">19475000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10805" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">14608000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10806" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">9817000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10807" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">136966000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10808" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">145598000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10809" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">332672000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10810" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">344813000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10811" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">116819000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10812" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">120194000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10813" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">372000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10814" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10815" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">209000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10816" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">22091000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10817" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">94147000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory id="ID_10818" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;42. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Other operating income and expense&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: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 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:461,25pt;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:8pt;color:#02A5A5;' &gt;Other operating income (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22,5pt;' &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;font-weight:bold;color:#072146;' &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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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 from sales of non-financial services&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;244&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;258&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;458&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;Hyperinflation adjustment (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;94&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&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;Other operating income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;235&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &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:276,75pt;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:61,5pt;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;492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;639&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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:6pt;margin-bottom:6pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) See Note 2.2.19.&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:435pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:435pt;' &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: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-weight:bold;color:#0A5FB4;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Change in inventories&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;124&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;107&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;292&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Contributions to guaranteed banks deposits funds &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;800&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;746&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;670&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Hyperinflation adjustment (*)&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;348&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;538&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;494&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 operating 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;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;390&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;551&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;565&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;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:48,75pt;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;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;1.662&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;1.943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;2.021&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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:0pt;' &gt;(*) See Note 2.2.19.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10819" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">7562000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10820" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">7776000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10821" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">472000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10822" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">952000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10823" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10824" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">317000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10825" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">3763000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10826" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">2059000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10827" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichcreditforconsumpltionmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">39799000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10828" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichcreditforconsumpltionmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">43037000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10829" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichlendingforhousepurchasememberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">94098000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10830" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichlendingforhousepurchasememberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">95751000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10831" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichcreditforconsumpltionmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">39799000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10832" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichlendingforhousepurchasememberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">94098000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:DisclosureOfInsuranceandreinsurancecontractsincomeandexpensesexplanatory id="ID_10833" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;43. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Income 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:23,25pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:403,5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:403,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Income and expense from 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: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;font-weight:bold;color:#0A5FB4;' &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;font-weight:bold;color:#004481;' &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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;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: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;Income from 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;2.497&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;/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;Expense from insurance and reinsurance contracts&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;(1.520)&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;(1.751)&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;(1.894)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:208,5pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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;977&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;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;/tr&gt;&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 shows the contribut&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ion of each insurance product to the Group&amp;#180;s income for the years ended December 31, 2020, 2019 and 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12,75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:440,25pt;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-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-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;2020&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-weight:bold;color:#072146;' &gt;2019&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-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;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;497&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;/tr&gt;&lt;tr style='height:13,5pt;' &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;439&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;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;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;/tr&gt;&lt;tr style='height:13,5pt;' &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;346&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;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;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;/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;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&lt;tr style='height:13,5pt;' &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;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/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;Other non-life insurance products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;389&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;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;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;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;977&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:DisclosureOfInsuranceandreinsurancecontractsincomeandexpensesexplanatory>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10834" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichprojectfinanceloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysubordinationMember" unitRef="EUR" decimals="INF">10721000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10835" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichprojectfinanceloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysubordinationMember" unitRef="EUR" decimals="INF">11032000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10836" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichprojectfinanceloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysubordinationMember" unitRef="EUR" decimals="INF">10721000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10837" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10838" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Personnelexpensesexplanatory id="ID_10839" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;44. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Administration costs&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;44.1.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt; 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 accompanying &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:435,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:435,75pt;' &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: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-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Technology and systems&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.088&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.060&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.000&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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Communications &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;193&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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Advertising&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;186&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;265&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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Property, fixtures and materials&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;865&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:middle;border-color:Black;min-width:234,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Taxes other than income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;378&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:12pt;' &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;Surveillance and cash courier services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;177&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Other expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;749&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;885&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;921&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: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:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.105&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.418&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.816&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;44.1.1.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Share-based employee remuneration&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 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, &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;, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;9 and 2018, corresponding to the remuneration plans based on equity instruments in each year, amounted to &amp;#8364;16 million, &amp;#8364;31 million and &amp;#8364;29 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;line-height:13,8pt;' &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 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; framework of applicable regulations 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 2020, 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;BBV&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;A Group Remuneration Policy&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, approved by the Board of Directors on November 29, 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 remunera&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;tion system applicable to the members 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 applicabl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;e 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 director&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &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;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:&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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 targe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ts, and it shall not accrue or it will 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 corr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;esponds (the &amp;#8220;Upfront Portion&amp;#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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; will be deferred in time (hereinafter, 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 P&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ortion 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.&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 fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;r a one-year period after delivery, 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-ye&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ar performance indicators aligned with 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 Deferr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ed 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&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: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 Remuneration 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 Identified Staff member, when such a downturn in finan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;cial 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 may undermine the effects of alignment with sou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;nd 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 resolves to increase this percentage up to a maxim&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;um 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 G&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eneral Meeting held on March, 13, 2020&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n the report issued for this purpose by the Boar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d of Directors dated February 10, 2020&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;According to the settlement and payment scheme indicated, during 2020, a total amount of 5,754,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;101&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; BBVA shares correspondin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;g to the Upfront Portion of 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Annual Varia&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ble 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 Remune&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ration Policy applicable in 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; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;during 2020 a total amount of 4,220,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;900&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; BBVA shares corresponding to the Def&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;erred Component of 2016&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Variable Remuneration has been delivered to the Identifies Staff. This amount has been subject to a downward adjustment due to multi-year performance indicators evaluation.&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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 2020 a total amount of 3,085,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;476&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; euros has been deliver&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed to the Identified Staff as updates of the corresponding shares o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f the Deferred Component of 2016&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; line with specific regulation applicable in Portugal and Brazil, BBVA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; IFIC and BBVA Brazil Banco de Investimento have&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; identified&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; the staff in these countries whose Annual Variable Remuneration should be subject to a specific settlement and pa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;yment 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 subject 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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;In BBVA IFIC, resulting cash portions of the Deferred Component of Annual Variable Remuneration and subject to multi-year performance indicators, finally delivered, shall be updated following the Consumer Pri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ce Index (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CPI&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;) measured as year-on-year price variation.&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;In BBVA Brasil Banco de Investimento, both the cash amounts and share amounts of the Deferred Component may be subject to update adjustments in cash.&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;According to this remuneration scheme, during fin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ancial year 2020 a total of 18,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;879&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; BBVA shares correspondin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;g to the Upfront Portion of 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Annual Variable Remuneration 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 2020&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; there have been delivered to this staff in Portugal and Brazil a total of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;5,083&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; BBVA shares corresponding to the first third o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f the Deferred Component of 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Annual Variable Remuneration, as well as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;1,323&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; euros as adjustments for updates. A total of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;9,558&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; BBVA shares corresponding to the second third o&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;the Deferred Component of 2017&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Annua&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;l Variable Remuneration and 4,873&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; euros as adjustments for updates; and a total of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;12,142&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; BBVA shares corresponding to the last third o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f the Deferred Component of 2016&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Annual Variable Remuneration and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;8,873&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:13,8pt;' &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 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:501,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:501,75pt;' &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: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;font-weight:bold;color:#072146;' &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;font-weight:bold;color:#072146;' &gt;Notes&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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;font-weight:bold;color:#072146;' &gt;2018&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;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;Wages and salaries&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;3.610&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;4.103&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;4.031&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &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;Social security costs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;671&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;725&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;670&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;Defined contribution plan expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;72&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;Defined benefit plan expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;text-align: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;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;58&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &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;Other personnel expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align: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;293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;373&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;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:56,25pt;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;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;4.695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;5.351&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;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;5.205&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Personnelexpensesexplanatory>
  <bbva:Cashflowhedgesiboramendment id="ID_10840" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_HedgeinstrumentsaxisAxis_bbva_LiborusdMember" unitRef="EUR" decimals="INF">9084000000</bbva:Cashflowhedgesiboramendment>
  <bbva:Fairvaluehedgesiboramendment id="ID_10841" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_HedgeinstrumentsaxisAxis_bbva_LiborusdMember" unitRef="EUR" decimals="INF">10608000000</bbva:Fairvaluehedgesiboramendment>
  <bbva:Cashflowhedgesiboramendment id="ID_10842" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_HedgeinstrumentsaxisAxis_bbva_OthersMember" unitRef="EUR" decimals="INF">574000000</bbva:Cashflowhedgesiboramendment>
  <bbva:Cashflowhedgesiboramendment id="ID_10843" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_HedgeinstrumentsaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">9658000000</bbva:Cashflowhedgesiboramendment>
  <bbva:Fairvaluehedgesiboramendment id="ID_10844" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_HedgeinstrumentsaxisAxis_bbva_OthersMember" unitRef="EUR" decimals="INF">1477000000</bbva:Fairvaluehedgesiboramendment>
  <bbva:Fairvaluehedgesiboramendment id="ID_10845" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_HedgeinstrumentsaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">12351000000</bbva:Fairvaluehedgesiboramendment>
  <bbva:Cashflowhedgesiboramendment id="ID_10846" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_HedgeinstrumentsaxisAxis_bbva_LiborgbpMember" unitRef="EUR" decimals="INF">0</bbva:Cashflowhedgesiboramendment>
  <bbva:Fairvaluehedgesiboramendment id="ID_10847" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180_bbva_HedgeinstrumentsaxisAxis_bbva_LiborgbpMember" unitRef="EUR" decimals="INF">266000000</bbva:Fairvaluehedgesiboramendment>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10848" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10849" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10850" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">4240000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10851" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">35000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10852" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">4275000000</bbva:Loansandadvancesnetofimpairmentlosses>
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  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10913" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">1067000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10914" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">15000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10915" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">261000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10916" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">23575000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10917" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">111085000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10918" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">10447000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10919" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">93000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10920" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">2106000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10921" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">29009000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10922" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">6893000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10923" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10924" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichcreditforconsumpltionmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">46356000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10925" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichcreditforconsumpltionmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">49474000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10926" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichlendingforhousepurchasememberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">110178000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10927" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichlendingforhousepurchasememberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">111636000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10928" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichcreditforconsumpltionmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">46356000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10929" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichlendingforhousepurchasememberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">110178000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory id="ID_10930" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;45. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;heading in the accompanying consolidated income statements for the years ended December 2020, 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:12,75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:444,75pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:444,75pt;' &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:22,5pt;' &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:8pt;font-weight:bold;color:#072146;' &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;font-weight:bold;color:#072146;' &gt;Notes&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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;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: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:8pt;color:#000000;' &gt;Tangible assets&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;17&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;781&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;876&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;533&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:8pt;color:#666666;' &gt;For own use&lt;/font&gt;&lt;/td&gt;&lt;td 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:#666666;' &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:#666666;' &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:#666666;' &gt;523&lt;/font&gt;&lt;/td&gt;&lt;td 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:#666666;' &gt;529&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:8pt;color:#666666;' &gt;Right-of-use assets&lt;/font&gt;&lt;/td&gt;&lt;td 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:#666666;' &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:#666666;' &gt;324&lt;/font&gt;&lt;/td&gt;&lt;td 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:#666666;' &gt;349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:63pt;' &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: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:8pt;color:#666666;' &gt;Investment properties and other&lt;/font&gt;&lt;/td&gt;&lt;td 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:#666666;' &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:#666666;' &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:8pt;color:#666666;' &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:8pt;color:#666666;' &gt;5&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:8pt;color:#000000;' &gt;Intangible assets&lt;/font&gt;&lt;/td&gt;&lt;td 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;18.2&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;507&lt;/font&gt;&lt;/td&gt;&lt;td 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;510&lt;/font&gt;&lt;/td&gt;&lt;td 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;500&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;background-color:#5AC4C4;border-color:Black;min-width:192,75pt;' &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:63pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;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;1.288&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;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;1.386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;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;1.034&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10931" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichprojectfinanceloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysubordinationMember" unitRef="EUR" decimals="INF">12259000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10932" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichprojectfinanceloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysubordinationMember" unitRef="EUR" decimals="INF">12415000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10933" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichprojectfinanceloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysubordinationMember" unitRef="EUR" decimals="INF">12259000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <ifrs-full:DisclosureOfProvisionsExplanatory id="ID_10934" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;46. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the net pr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ovisions 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:12,75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:581,25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:581,25pt;' &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:22,5pt;' &gt;&lt;td style='width:350,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:350,25pt;' &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: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;font-weight:bold;color:#072146;' &gt;Notes&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;font-weight:bold;color:#072146;' &gt;2020&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;font-weight:bold;color:#072146;' &gt;2019&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;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:350,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:350,25pt;' &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: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;25 &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;210 &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;213 &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;125 &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:middle;border-color:Black;min-width:350,25pt;' &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: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;192 &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;96 &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;(27)&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:middle;border-color:Black;min-width:350,25pt;' &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: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;208 &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;171 &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;135 &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:middle;border-color:Black;min-width:350,25pt;' &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: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;136 &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;133 &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;162 &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:middle;background-color:#5AC4C4;border-color:Black;min-width:350,25pt;' &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:57,75pt;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;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;746&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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;614&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57,75pt;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;395&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;)       &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;In 2020, the amount of commitments and guarantees given includes the negative impact of the update of the macroeconomic scenario following the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;COVID-19 pandemic (see Notes 1.5 and 7.2).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:12pt;line-height:13,8pt;' &gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfProvisionsExplanatory>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10935" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10936" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10937" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10938" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10939" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">3911000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10940" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">29000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10941" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">3941000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10942" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">10000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10943" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10944" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">151000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10945" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">2833000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10946" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">648000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10947" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">8000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10948" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">1000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10949" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">2000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10950" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">2328000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10951" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">13108000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10952" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">948000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10953" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10954" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">195000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10955" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">16190000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10956" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">103000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10957" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">226000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10958" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10959" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">3000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10960" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">8014000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10961" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">406000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10962" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">293000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10963" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">477000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10964" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
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  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10967" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">26839000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10968" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">2947000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10969" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">7030000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10970" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">133573000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10971" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">157760000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10972" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">1592000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10973" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">5771000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10974" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">2088000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10975" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">984000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10976" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">498000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10977" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="INF">29917000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10978" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">9196000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10979" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">9468000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10980" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember" unitRef="EUR" decimals="INF">163922000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10981" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">172522000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Disclosureofimpairmentorreversalofimpairmentonfinancialassetsnotmeasuredatfairvaluethroughprofitorlossexplanatory id="ID_10982" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&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: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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; not measured at fair value through profit or loss or net gains by modification 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:25,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:471,75pt;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 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:23,25pt;' &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;font-weight:bold;color:#0A5FB4;' &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:8pt;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: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;2020&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;font-weight:bold;color:#072146;' &gt;2019 (*)&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;font-weight:bold;color:#072146;' &gt;2018 (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:34,5pt;' &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:9pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income - Debt securities&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: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;19 &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;82 &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 &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:9pt;color:#000000;' &gt;Financial assets at amortized cost (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;text-align:center;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;5.160&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;3.470&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;3.680&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;font-style:italic;color:#666666;' &gt;Of which: recovery of written-off assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:48,75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;7.2.5&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:#666666;' &gt;(339)&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:#666666;' &gt;(919)&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:#666666;' &gt;(589)&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;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:48,75pt;text-align:center;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;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;5.179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;3.552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48,75pt;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;3.681&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;In 2020, the amount includes the negative&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; impact of the update of the macroeconomic scenario following the COVID-19 pandemic (see Notes 1.5 and 7.2).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofimpairmentorreversalofimpairmentonfinancialassetsnotmeasuredatfairvaluethroughprofitorlossexplanatory>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10983" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">3641000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10984" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">3834000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10985" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">15446000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10986" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">16495000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10987" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">17436000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10988" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">17716000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10989" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">8650000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10990" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">9077000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10991" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">770000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10992" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">772000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10993" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">332060000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10994" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">342264000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10995" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">10962000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10996" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">11025000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10997" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">388966000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10998" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">401183000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_10999" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">139883000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11000" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">144005000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11001" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">47081000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11002" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">47855000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11003" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">1056000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11004" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">15000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11005" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">219000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11006" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">26784000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11007" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichmortgageloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">111809000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11008" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">7179000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11009" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">285000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11010" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">1389000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11011" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">31393000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11012" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">6835000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11013" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichothercollateralizedloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysecuredloansMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11014" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichcreditforconsumpltionmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">40124000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11015" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichcreditforconsumpltionmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">42736000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11016" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichlendingforhousepurchasememberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">111007000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11017" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichlendingforhousepurchasememberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">112952000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11018" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichcreditforconsumpltionmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">40124000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11019" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichlendingforhousepurchasememberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_HouseholdsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BypurposeoftheloanMember" unitRef="EUR" decimals="INF">111007000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11020" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichprojectfinanceloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_TotalMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysubordinationMember" unitRef="EUR" decimals="INF">13973000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11021" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichprojectfinanceloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_ifrs-full_GrossCarryingAmountMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysubordinationMember" unitRef="EUR" decimals="INF">14286000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_11022" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OfwhichprojectfinanceloansmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CorporateentitiesMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_BysubordinationMember" unitRef="EUR" decimals="INF">13973000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Disclosureofimpairmentorreversalofimpairmentonnonfinancialassetsexplanatory id="ID_11023" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;49. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The impairment losses on non-financial assets broken down by the nature of those assets in the accompanying consolidated income statements are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13,5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:381pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:381pt;' &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:37,5pt;' &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:8pt;font-weight:bold;color:#0A5FB4;' &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-weight:bold;color:#072146;' &gt;Notes&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-weight:bold;color:#072146;' &gt;2020&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-weight:bold;color:#072146;' &gt;2019&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-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: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:8pt;color:#000000;' &gt;Tangible assets&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&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;125&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;94&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Intangible 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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61,5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12,75pt;' &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:8pt;color:#000000;' &gt;Others   &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;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;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;text-align: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;/tr&gt;&lt;tr style='height:12,75pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &gt;&lt;font 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;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;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;153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61,5pt;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;137&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofimpairmentorreversalofimpairmentonnonfinancialassetsexplanatory>
  <bbva:TangibleassetsFromDisposableGroups id="ID_11024" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_GeographyspanishandforeigntangibleassetsAxis_bbva_IssuedinEurosMember" unitRef="EUR" decimals="INF">4294000000</bbva:TangibleassetsFromDisposableGroups>
  <bbva:TangibleassetsFromDisposableGroups id="ID_11025" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_GeographyspanishandforeigntangibleassetsAxis_bbva_IssuedinEurosMember" unitRef="EUR" decimals="INF">4865000000</bbva:TangibleassetsFromDisposableGroups>
  <bbva:TangibleassetsFromDisposableGroups id="ID_11026" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_GeographyspanishandforeigntangibleassetsAxis_bbva_IssuedinEurosMember" unitRef="EUR" decimals="INF">2705000000</bbva:TangibleassetsFromDisposableGroups>
  <bbva:TangibleassetsFromDisposableGroups id="ID_11027" contextRef="AS_OF_Dec31_2020_Entity_0000842180_bbva_GeographyspanishandforeigntangibleassetsAxis_bbva_TotalforeignMember" unitRef="EUR" decimals="INF">3529000000</bbva:TangibleassetsFromDisposableGroups>
  <bbva:TangibleassetsFromDisposableGroups id="ID_11028" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_GeographyspanishandforeigntangibleassetsAxis_bbva_TotalforeignMember" unitRef="EUR" decimals="INF">5203000000</bbva:TangibleassetsFromDisposableGroups>
  <bbva:TangibleassetsFromDisposableGroups id="ID_11029" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_GeographyspanishandforeigntangibleassetsAxis_bbva_TotalforeignMember" unitRef="EUR" decimals="INF">4524000000</bbva:TangibleassetsFromDisposableGroups>
  <bbva:Disclosureofprofitorlossfromnoncurrentassetsanddisposalgroupsclassifiedasheldforsalenotqualifyingasdiscontinuedoperationsexplanatory id="ID_11030" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;5&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;0. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;Gains (losses) from non-current assets 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:13,8pt;' &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='6' rowspan='1' style='width:533,25pt;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;Gains (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:23,25pt;' &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;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:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &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:50,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/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;Gains on sale of real estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;/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;Impairment of non-current assets held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(103)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(72)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(206)&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;Gains (losses) on sale of investments classified as non-current assets held for sale (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;431&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;894&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13,5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;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:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;444&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50,25pt;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:8pt;font-weight:bold;color:#FFFFFF;' &gt;815&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;variation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; in year 2020 is mainly due to the transfer of half plus one share in BBVA Allianz Seguros y Reaseguros, S.A. (see Note 3). The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;variation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; 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_11031" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;51. Consolidated 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;The mapping of the heading cash and equivalents in the consolidated statement of cash flows has been modified, and this modification is not relevant to the consolidated condensed interim financial statements as a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; whole. In order for the information to be comparable, the information for the 2019 and 2018 financial years has been restated.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-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 2020&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;2019&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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the financial liabilities 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='9' rowspan='1' style='width:692,25pt;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;Liabilities from financing activities. December 2020 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:194,25pt;text-align:left;vertical-align:top;border-color:Black;min-width:194,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:62,25pt;text-align:center;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;December 31, 2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:62,25pt;text-align:center;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;Cash flows &lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:311,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:311,25pt;' &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:62,25pt;text-align:center;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;December 31, 2020&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:194,25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:top;border-color:Black;min-width:194,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &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:center;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;Acquisition&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:center;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;Disposal&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:center;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;Disposals by companies held for sale (**)&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:center;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;Foreign exchange movement&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:center;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;Fair value changes&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20,25pt;' &gt;&lt;td style='width:194,25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:194,25pt;' &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: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:#333333;' &gt;63.963 &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:#333333;' &gt;3.003 &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:#333333;' &gt;-&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:#333333;' &gt;-&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:#333333;' &gt;(3.160)&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:#333333;' &gt;(2.026)&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:#333333;' &gt;-&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:#333333;' &gt;61.780 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24,75pt;' &gt;&lt;td style='width:194,25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:194,25pt;' &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: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;font-style:italic;color:#666666;' &gt;17.675 &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;font-style:italic;color:#666666;' &gt;(8)&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;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(419)&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;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;17.248 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&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;Additionally, there are &amp;#8364;12 million of issuances of subordinated liabilities as of December 2020 (see Note 22 and Appendix VI). The subordinated issuances of BBVA Paraguay and of the BBVA USA sale perimeter as of December 31, 2020 are recorded in the heading &amp;quot;Liabilities included in disposal groups classified as held for sale&amp;quot; of the consolidated balance which amount to &amp;#8364;37 and &amp;#8364;735 million, respectively.&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 amount is mainly due to the sale of the stake in BBVA USA (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='8' rowspan='1' style='width:618pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:618pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Liabilities from financing activities. December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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 colspan='1' rowspan='2' style='width:56,25pt;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;December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:56,25pt;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;Cash flows &lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:225pt;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:8pt;font-weight:bold;color:#072146;' &gt;Non-cash changes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:56,25pt;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;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: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;Acquisition&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;Disposal&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;Foreign exchange movement&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;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: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:#333333;' &gt;61.112 &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:#333333;' &gt;2.643 &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:#333333;' &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:#333333;' &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:#333333;' &gt;209 &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:#333333;' &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:#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:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;17.635 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &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:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &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:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &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: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;Additionally, there are &amp;#8364;384 million of issuances of subordinated liabilities as of December 2019 (see Note 22 and Appendix VI). Subordinated liabilities corresponding to BBVA Paraguay as of December 2019 were recorded in the heading &amp;quot;Liabilities included in disposal groups classified as held for sale&amp;quot; amounting to &amp;#8364;40 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:16,5pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:618pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:618pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Liabilities from financing activities. December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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 colspan='1' rowspan='2' style='width:56,25pt;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;December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:56,25pt;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;Cash flows &lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:225pt;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:8pt;font-weight:bold;color:#072146;' &gt;Non-cash changes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:56,25pt;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;December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:224,25pt;border-bottom-style:solid;border-bottom-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 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;Acquisition&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;Disposal&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;Foreign exchange movement&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;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;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:#333333;' &gt;Liabilities at amortized cost: Debt certificates&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:#333333;' &gt;61.649 &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:#333333;' &gt;2.152 &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:#333333;' &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:#333333;' &gt;(1.828)&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:#333333;' &gt;(862)&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:#333333;' &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:#333333;' &gt;61.112 &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:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;17.443 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &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:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &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:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &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:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56,25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56,25pt;' &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: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;Additionally, there are subordinated deposits for 411 million euros as of December 31, 2018 (see &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Note 22 and Annex VI). The subordinated issues of BBVA Chile as of December 31, 2017 are recorded under the line &amp;quot;Liabilities included in disposal groups of items that have been classified as held for sale&amp;quot; on the consolidated balance sheet with a balance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;of 574 million euros.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCashFlowStatementExplanatory>
  <ifrs-full:DisclosureOfAuditorsRemunerationExplanatory id="ID_11032" contextRef="FROM_Jan01_2020_TO_Dec31_2020_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;52. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020, 2019 and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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;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